‘Like herding cats’: How can M&A go wrong?

financial-advice/financial-advisers/M&A/mergers-and-acquisitions/

| By Jasmine Siljic |

Unexpected bills and a lack of cultural alignment are among M&A challenges two directors have faced, and the experiences have taught them that advice practices shouldn’t pursue “scale for scale’s sake”.

AUTHOR

Jasmine Siljic

Jasmine Siljic is a journalist at Money Management. Prior to joining MM, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.

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FAAA raises CSLR concerns with Minister Jones

Stephen-Jones/CSLR/Sarah-Abood/phil-anderson/

| By Laura Dew |

Financial planning

The Financial Advice Association Australia has met with Minister for Financial Services, Stephen Jones, to discuss their concerns about the escalating costs of the Compensation Scheme of Last Resort.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Australian wholesale flows boost GQG FUM

GQG-Partners/australian-market/wholesale-investing/

| By Laura Dew |

Funds management

GQG Partners has reported a 67 per cent year-on-year increase in Australian wholesale net flows to its funds as it announces its half-year results.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Creating a culture of compliance in advice

ASIC/licensees/AFSL/compliance/enforcement/

| By Jasmine Siljic |

Financial planning

In light of recent ASIC investigations, Assured Support has outlined how compliance programs can fail within advice practices and licensees if they are treated as “necessary evils” and corners are cut.

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Jasmine Siljic

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Sequoia resolves legal action after acquisitions

Sequoia/court/acquisition/Garry-Crole/

| By Laura Dew |

Financial planning

A dispute between Sequoia Financial Group and individual Tim McGowen has reached a conclusion, following a problematic acquisition of three companies.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Clime identifies $1m pa savings from Madison divestment

Madison/infocus/Clime-Investment-Management/

| By Laura Dew |

Funds management

Clime Investment Management believes its FY25 operating costs will be “substantially lower” after identifying $1 million per annum in cost savings from the Madison divestment.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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FSCP makes latest adviser determination

FSCP/statements-of-advice/financial-advice/insurance/

| By Keith Ford |

Financial planning

The Financial Services and Credit Panel has made its first determination in over three months with the relevant provider pulled up on their statements of advice.

AUTHOR

Keith Ford

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The licensees that led Q2 adviser growth

Adviser-Ratings/adviser-numbers/centrepoint-alliance/financial-advisers/

| By Jasmine Siljic |

Financial planning

Adviser Ratings’ quarterly data has uncovered the top 10 financial advice licensees for growth and losses in the second quarter of the 2024 calendar year.

AUTHOR

Jasmine Siljic

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How has adviser sentiment changed over the past decade?

adviser-sentiment/wealth-insights/financial-advisers/

| By Jasmine Siljic |

Financial planning

Back in 2014, the proportion of optimistic advisers sat at 55 per cent, but how has the past decade and the fallout from the Hayne royal commission changed things?

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Jasmine Siljic

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Lazard makes distribution appointment from PGIM

Lazard/Lazard-Asset-Management/pgim/

| By Laura Dew |

Funds management

The former head of Australia wealth at PGIM has taken up a new role as an investment specialist at Lazard Asset Management.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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