The difference between a Record of Advice and Statement of Advice is the crux of the FSCP’s latest determination against a relevant provider.
The number of ceased advice licensees this financial year is nearly four times higher than the previous period, likely driven by M&A activity among new AFSLs, writes Wealth Data.
Libertas Financial Planning saw its AFSL cancelled this month after the CSLR paid out compensation to a victim; details have been shared on the firm’s mistakes that led to the victim’s complaint.
Disciplined cost management on its transformation strategy has helped Iress to report an adjusted EBITDA of $67 million in the first half of 2024.
The corporate regulator has taken down over 7,300 phishing and investment scam websites in the past year, with this area remaining a core strategic priority for ASIC.
Principal Asset Management has appointed a new director of distribution in Australia to expand its reach in the domestic wholesale market.
ASIC has cancelled the AFSL of a former national financial advice business after the CSLR was required to pay compensation for the firm’s actions.
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”.
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.
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.
