Sat, 24th May 2025

In the latest Daily Financial Services News Wrap, we discuss the important leadership transition in Rest Superannuation with the appointment of Michael Clancy as the new Chief Investment Officer. We also delve into the pressing issue faced by the wealth management sector due to the increasing pressure on the Australian pension system, emphasized by Arnie Selvarajah of Bell Financial Group. In regulatory news, APRA declares managed accounts under performance review scrutiny, advancing the protection of members' financial interests. Lastly, the global markets' mixed reactions to the new US tax rules are analyzed, spotlighting the slight 0.4% decrease in the ASX200 index. Stay in the loop for more crucial financial updates on financialservicesonline.com.au