Pacific Current divestments drive cost savings for business

GQG-Partners/Pacific-Current-Group/divestment/M&A/

Pacific Current noted FY24 was a “transformational year” as it made multiple divestments to create a lower cost structure for the business.

AUTHOR

‘Dislocation’ in investors’ understanding of private credit

private-credit/private-markets/Alternatives/

With research houses raising concerns about the suitability of private credit funds for retail clients, a fund manager has acknowledged greater transparency is needed to protect investors who struggle to understand the risk.

AUTHOR

Knowledge gap persists on lifetime income market

allianz-retire+/retirement/

There is a role for advisers to play in helping pre-retirees understand lifetime income solutions as clients say they lack comprehension of the products’ structure.

AUTHOR

Former Brisbane adviser found guilty of $5.9m fraud

ASIC/fraud/Brisbane/court/

A former Brisbane financial adviser has been found guilty of 28 counts of fraud where his clients lost $5.9 million.

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Platform migration causes adviser outflows for Insignia

insignia-financial/insignia/platforms/

The migration of the MLC platform to Expand caused disruption in platform flows for Insignia in FY24 as advisers “lost patience” with delays, while the firm flagged its reasoning behind the lack of dividend.

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Strong revenue drives staff growth for advice practices

Adviser-Ratings/adviser-numbers/revenue/financial-advice/

The majority of financial advice practices enjoying revenue growth are putting this towards growing their adviser teams, according to new research.

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ASIC unveils strategic enforcement priorities for FY25

ASIC/enforcement/AFSLs/licensees/financial-advice/

A wide range of strategic priorities are set to fall under the corporate regulator’s enforcement spotlight in the next 12 months, including the risk management and data security of AFSLs.

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ClearView prioritises wealth management exit

ClearView/wealth-management/life-insurance/centrepoint-alliance/

ClearView has said it expects to completely exit wealth management by the third quarter of FY25.

AUTHOR

Centrepoint Alliance shares FY24 results amid strong adviser growth

Centrepoint/centrepoint-alliance/licensees/AFSL/john-shuttleworth/

Centrepoint Alliance is optimistic of benefitting from licensee switching to grow organically and is set to boost funds under advice via a new investment platform in October.

AUTHOR

Insignia reports $185m loss in FY24

insignia-financial/insignia/Scott-Hartley/financial-advice/

Insignia reports a $185 million statutory net loss after tax in FY24 but sees revenue improve in its newly restructured advice division, thanks to higher value clients.

AUTHOR

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