Three cash rates, countless regulatory actions and the aftermath of the Hayne royal commission have dominated InvestorDaily headlines over the past 12 months. Here are the top 10 most-read stories for the year.
10. Westpac served with class action (5,238 reads)
On 6 September 2019, InvestorDaily reported that Slater and Gordon had filed a class action against Westpac subsidiaries BT Funds Management and Westpac Life Insurance Services.
9. MyState sells wealth business for $3.5m (5,284 reads)
On 17 June, InvestorDaily sent out a newsflash to announce the sale of Tasmania-based bank MyState’s wealth arm to Fiducian for approximately $3.5 million.
8. ASIC commences civil proceedings against major bank (5,463 reads)
On 25 July, InvestorDaily reported that ASIC commenced civil proceedings against ANZ in relation to fees charged for failure to make scheduled payments between two of their own accounts. ANZ settled a class action in relation to the issue for $1.5 million.
7. ANZ to change advice model (6,582 reads)
The major bank again also the headlines on 17 May, when InvestorDaily sent out a newsflash outlining ANZ’s decision to stop offering its Prime Access financial advice service to new customers. The service, which had been offered for the last 16 years, is now being phased out for current customers as well.
This appointment story broke earlier in the year. On 30 January, fund manager IPO Wealth announced the appointment of Ewan Laughlin as CEO. Prior to joining IPO Wealth he worked for CBA and NAB in business and institutional banking.
5. Superannuation class action filed against AMP (7,796 reads)
Embattled financial services giant AMP was in the headlines for much of 2019. In this particular instance, Slater and Gordon filed a class action against the group on behalf of over two million Australians over superannuation fees and returns.
It is unusual for a news story to generate over 8,000 reads unless it is a lead story or a newsflash. This story was neither, but InvestorDaily readers gravitated to our analysis of the Stockspot Fat Cats Report into the worst-performing super funds in Australia.
3. Life after Hayne: What’s next? (9,032 reads)
Our InvestorDaily Live webcast series has been hugely popular with our readers in 2019. This episode delved into the royal commission final report and its implications for the wealth management industry. Partnered by Refinitiv, the webcast featured the group’s head of wealth market development for ANZ Ronan Leonard, Lifespan Financial Planning CEO Eugene Ardino, Thomson Reuters regional bureau chief for APAC Nathan Lynch and InvestorDaily editor James Mitchell.
2. RBA announces cash rate (12,886)
There was a time when cash rate announcements didn’t get much love from InvestorDaily readers. That all changed when the central bank began its recent cutting cycle in 2019.
1. InvestorDaily Live: Mapping out emerging markets (33,058 views)
The number one most-read story on our platform this year was our exclusive webcast with Aberdeen Standard Investments global head of equities Devan Kaloo. The charismatic fund manager appeared on the show on 12 September, where he discussed the growth story of emerging markets and which companies offer the most attractive returns.