‘Never too early, often too late’: Thinking about succession planning

succession-plans/M&A/financial-advice/Adviser-Ratings/macquarie/mergers-and-acquisitions/

| By Jasmine Siljic |

With business owners very rarely planning their exit from the advice practice in advance, three experts underscore why succession planning is critical for long-term success.

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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Esencia Wealth invests in new adviser pipeline to future-proof business

financial-advice/new-entrants/recruitment/education/financial-advice/

| By Jasmine Siljic |

Financial planning

Esencia Wealth says investing in a pipeline of new advisers sits at the “top of our list”, including building clear career pathways to retain new entrants.

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Jasmine Siljic

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Maple-Brown Abbott deal presents complementary growth path for Antipodes

Maple-Brown-Abbott/Antipodes-partners/antipodes/M&A/Pinnacle-Investment-Management/

| By Laura Dew |

Funds management

The acquisition of Maple-Brown Abbott is expected to be earnings accretive for Antipodes Partners and presents it with complementary asset classes for future growth.

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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Iress completes $167m sale of UK mortgages business

iress/praemium/platform/technology/

| By Jasmine Siljic |

Financial planning

Iress has announced the completed sale of its UK mortgages arm, representing the fourth and largest divestment successfully executed under its transformation strategy.

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Jasmine Siljic

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Pinnacle looks to UK for flows amid newest affiliate

Pinnacle/international-equities/London/UK/Ian-Macoun/

| By Laura Dew |

Funds management

Pinnacle managing director Ian Macoun has shared an update on its newest UK affiliate as he flags how almost three-quarters of FY24 net flows come from international investors.

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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Mercer receives greenwashing penalty from Federal Court

mercer/ASIC/greenwashing/

| By Rhea Nath |

Funds management

Mercer has received a heavy penalty from the Federal Court after making misleading statements about the sustainable nature and characteristics of its Mercer Super Trust investment options.

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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AFSL cancellations dent weekly adviser growth

Wealth-Data/ASIC/adviser-numbers/Colin-Williams/

| By Jasmine Siljic |

Financial planning

The cancellation of two AFSLs has caused adviser numbers to drop into the red this week after three weeks of growth, but one AFSL has seen a gain of 20.

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Jasmine Siljic

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Will UGC cause the next CSLR advice levy increase?

AFCA/Dixon/Dixon-Advisory/AFSL/complaints/AFSL/

| By Laura Dew |

Financial planning

AFCA is considering whether complaints against advice licensee United Global Capital, which saw its AFSL cancelled this week, will be covered by the CSLR and how many complaints it has received already.

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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When does an investigation start for AFSLs?

compliance/licensees/ASIC/investigation/

| By Laura Dew |

Financial planning

Compliance firm Cowell Clarke has shared information on how licensees should investigate a possible reportable situation at their firm and when to tell the regulator.

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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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‘Unnecessary’ for ASIC to interview Dixon advisers

AFCA/ASIC/andrew-bragg/Senate-Economics-Committee/Dixon/Dixon-Advisory/

| By Laura Dew |

Financial planning

ASIC has confirmed it was “unnecessary” for the regulator to intensively interview Dixon Advisory advisers about the problems at the firm.

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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