The levy payable by financial advisers for the Compensation Scheme of Last Resort has almost quadrupled for FY26 as the government launches a formal review.
Melbourne and Perth-based Endeavor Asset Management has added 24 financial advisers to its AFSL this week, with overall industry numbers rising by more than a dozen.
The industry has reacted to the retirement of Stephen Jones as Minister for Financial Services, recognising his efforts on reforming financial advice.
Perpetual has released its Q2 fund flows showing a fall back into outflows after a positive Q1, as well as an update on its planned deal with KKR.
AFCA has confirmed its chief operating officer, Justin Untersteiner, will be departing the organisation in March to take up a CEO role.
Australian advised clients are the most eager among global peers to invest in private markets, according to Hamilton Lane, with their knowledge of the asset class also being higher.
The emergence of DeepSeek, a Chinese artificial intelligence (AI) start-up that claims to have built an advanced large language model in just two months for under US$6 million, sent shockwaves through the AI world and cratered US tech stocks.
Magellan has announced a raft of executive changes including the departure of head of investments, Gerald Stack, after 18 years and a second appointment from Maple-Brown Abbott.
Minister for Financial Services, Stephen Jones, has announced he will be retiring at the upcoming federal election.
