SSGA unveils stake in Aussie fintech platform

ssga/State-Street-Global-Advisors/raiz-invest/fintech/

State Street Global Advisors has taken a 5 per cent strategic stake in Raiz Invest, deepening its existing relationship with the Australian fintech platform.

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Remembering Greg Bright: A legacy in financial journalism and beyond

Publisher and entrepreneur Greg Bright, the visionary founder of Momentum Media brands InvestorDaily, ifa, Money Management, and Super Review, has passed away at the age of 70.

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Centrepoint’s Shuttleworth on the ‘lucrative’ adviser market

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

Centrepoint Alliance chief executive John Shuttleworth foresees a “lucrative recruitment market” in the advice space in the next 12–18 months which will provide a tailwind for the licensee.

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Pinnacle’s planned UK affiliate loses $3bn Ironbark mandate

ironbark/Pinnacle/mandate/funds-management/

The launch of a new UK affiliate by Pinnacle Investment Management has hit a snag as delays mean Ironbark has pulled a planned $3 billion mandate from the firm.

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Prime Financial sees ‘strong tailwinds’ in private markets

prime-financial-group/simon-madder/Alternatives/M&A/

Prime Financial Group has announced its FY24 results in what proved to be an “inflection point” for the firm, with further M&A activity and growth in the alternatives market ahead.

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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.

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‘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.

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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.

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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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