BTIM IPO a step closer
BT Investment Management (BTIM) has today lodged the prospectus for its initial public offer with the Australian Securities and Investments Commission and expects to be listed on the ASX by December.
Westpac Group will retain a 60 per cent stake in BTIM, which is the eighth largest funds management business in Australia, boasting $42 billion under management.
Eligible Westpac shareholders, BTIM employees and selected institutional investors will be the only investors to be offered shares in BTIM.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
