Macquarie withdraws from S&P review
Macquarie Group has announced the withdrawal of its Professional Series from Standard & Poor's (S&P) 2012 Global Equity Review.
This comes as a consequence of S&P closing its Australian retail ratings offering in October this year.
Head of Macquarie Professional Series, Adrian Stewart, said the business had enjoyed a "long and professional relationship" with S&P and that Macquarie was sorry to see them leave the market.
"They have been a strong ratings house which offered the Australian financial planning industry high quality research and ratings across a large universe of funds," Stewart said.
Macquarie has picked up several S&P Fund Manager awards in the past few years, including categories such as global equities developed markets and alternatives.
Recommended for you
The Australian financial advice industry has risen by more than 20 advisers this week, with nearly half joining WT Financial and Sequoia.
Two financial advice professionals have shared their tips for success when building an effective Professional Year program as more advisers look to bring on junior staff to their practices.
Numbers are in for 2024, with Wealth Data confirming how many advisers left during the calendar year and which business models saw the largest growth in terms of new licensees.
Praemium has seen its highest net inflows in over two years for Q2 FY25 as its Powerwrap platform returns to inflows after five consecutive quarterly outflows.
