Fund Company Update

Media Super and Cbus merger delays

Cbus and Media Super won’t be merging until 2022, but the reasons are not clear. Statements have been released that no longer state the former goal of ‘late 2021’. Media Super stated that a successor fund transfer (SFT) had been signed and negotiations are now in the transition planning stage.

Kaplan rolls out Women in Finance scholarship

Kaplan Professional has announced 10 finance and economics scholarships offered to women as part of a ‘Women in Finance’ scheme with $1.5 million in grants from the Financial Planning Assocation of Australia (FPA). The grant is to manage and deliver a scholarship program funded by the Australian government for women in finance and economics. Kaplan will get $85,000 to partially fund the 10 scholarships, with Kaplan Professional funding the difference.

The scholarships cover tuition fees of any four subjects of Kaplan Professional’s Financial Adviser Standards and Ethics Authority (FASEA)-approved Master of Financial Planning program. The variations depend on the stage of study someone is at. Eligiblity is open to students who identify as female who have previously completed or are currently completing other Kaplan qualifications.

Willis Towers Watson restructure

Wills Towers Watson is undergoing a restructure, from 2022 operating under a two-segment structure. The segments are health, wealth and career, and risk and broking. WTW currently has four segments. Operations will be split into three locations - Europe, international and North America. The firm also has a new global leadership team.