2024 adviser gains in doubt after heavy June losses; First Delivering Better Financial Outcomes bill passed

The 2024 calendar year is now expected to report bigger losses than 2023, despite a strong start, as the last two weeks of June have seen heavy triple-digit adviser losses.

The first Delivering Better Financial Outcomes bill has now passed both the Senate and the House of Representatives.

Senator Andrew Bragg has released the final report of the ASIC inquiry, making 11 recommendations as to how the corporate regulator can be improved.

Ausbil Investment Management has announced its head of wholesale distribution is to depart after 17 years with the fund manager.

Funds under management at Magellan were largely flat in June as the asset manager reports a 72 per cent rise in performance fees for FY23–24.

The specialist alternatives investment manager has provided an FUM update for the June quarter as its M&A activity drives net inflows higher.

In this latest episode of Relative Return, host Maja Garaca Djurdjevic speaks with Justine Marquet, head of technical services at Allianz Retire+, to discuss the financial and emotional challenges that consumers face as they approach retirement.