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Iress posts loss but promises better times ahead

Mike Taylor 21 February 2024

Financial planning software provider, Iress has acknowledged a challenging year as it reported a 100% decline in net profit after tax to a loss of $137.5 million.

The significant profit decline came despite the company lifting revenue by 2% to $625.7 million, however it pointed to early signs of recovery…

Man's finger on question mark

Count in profit as CBA’s remediation indemnity drops to $5.9m

Mike Taylor 21 February 2024

Nearly four years after the Commonwealth Bank sold Count Financial to Count Plus its remediation indemnities have decreased to $5.9 million.

The CBA remediation provision represents an important number in the context of the bank’s remaining 35.85% stake in Count Limited which yesterday posted a net profit after tax of…

Artificial intelligence

Viridian CEO canvasses generalist and specialist advisers

Mike Taylor 21 February 2024 No Comments

The use of Artificial Intelligence to triage clients may allow financial advisers to become specialists or generalists.

Quality of Advice Review, GBST advice technology

AIOFP defends its commissions stance

Mike Taylor 21 February 2024 4 Comments

Unpaid grandfathered and other commissions no longer accessible to financial advisers should be used to underwrite cheaper advice.

Data centre

deVere backs AI wave behind Magnificent Seven, as bubble fears grow

Yasmine Masi 21 February 2024 No Comments

deVere Group CEO, Nigel Green, has allayed investors’ fears of a bubble forming around the Magnificent Seven high-performing tech stocks.

Count GHG Private Wealth Digital Transformation

Strong inflows drive HUB24, Netwealth NPAT

Mike Taylor 21 February 2024 No Comments

Strong inflows have helped drive platform providers HUB24 and Netwealth to report solid first-half profits.

INDUSTRY NEWS

Active bond ETFs shine as growth slows and inflation recedes

Financial Newswire Contributor 8 February 2024 No Comments

The macro backdrop remains constructive for fixed income. Yields typically fall after interest rates peak and historically, this has coincided with…

Discover Auxilium. A customised solution, giving you the confidence you need to support your clients.

Financial Newswire Contributor 31 January 2024 No Comments

With our boutique in-house developed platform technology, Auxilium is backed by Fiducian who has more than 25 years’ experience

There are some really great opportunities out there

Financial Newswire Contributor 8 December 2023 No Comments

Rob Mead discusses the 2024 outlook, how investors should be positioning for the year ahead and where PIMCO sees the best investment opportunities.

What lies ahead in global markets?

Amelia King 7 December 2023 No Comments

Forecasting 2024 is challenging, with ongoing remarkable changes across economies and markets, combined with a year of political uncertainty ahead.

IFM Autodesk sale Payapps

ANZ welcomes ACT Suncorp acquisition decision

Mike Taylor 20 February 2024 2 Comments

ANZ Bank chief executive, Shayne Elliott has welcomed the ACT’s decision to authorise ANZ’s Suncorp Bank acquisition.

Results signs

HUB24 posts strong result off record inflows

Mike Taylor 20 February 2024 No Comments

Platform provider HUB24 has delivered a strong first half result with NPAT up 39% to $25.1 million and record inflows.

Man's finger protects coins from dominoes

APRA excludes paying penalty payments from super Risk Reserves

Mike Taylor 20 February 2024 4 Comments

Superannuation funds are going to have to continue provisioning billions as APRA opts to stick with the 25bp Risk Reserve benchmark.

Old doors with chain and padlock

Embed balance preservation say industry funds

Mike Taylor 20 February 2024 7 Comments

Industry funds want to slam the door on early release by embedding preservation as a key principle of the objective of superannuation

Business man in suit pushing against walls closing in

FSC cautions Govt move to ‘default’ super products after poll

Yasmine Masi 20 February 2024 No Comments

The Government’s move to introduce “default” super products has been labelled “risky” by the FSC, after poll results indicated the public was opposed.

Man caught between divergent arrows

What super sceptics cost themselves during COVID-19

Mike Taylor 20 February 2024 No Comments

Superannuation fund members who turned conservative and changed their allocations during COVID-19 denied themselves a 23% return.

Zenith AI artificial intelligence investments

AI has its place in the portfolio, but resist overweighting specific stocks: Zenith

Patrick Buncsi 20 February 2024 No Comments

Tech stocks with a strong pedigree in artificial intelligence (AI) innovation should retain a “robust allocation” in investment portfolios.

Bell AM appointments

Bell bolsters research team with three key hires

Patrick Buncsi 20 February 2024 No Comments

Boutique investment firm Bell Asset Management (BAM) has appointed three senior analysts to the firm.