ASIC suspends AFSL of Sydney fund manager

ASIC AFSL managed investment scheme Sydney

| By Rhea Nath |

ASIC has suspended the AFSL of a Sydney fund manager, which operates a managed investment scheme, over repeated failures to comply with licensee obligations.

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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How has AMP’s exit shaken up the biggest licensees?

amp AFSL Wealth Data licensees Neil Younger financial advice

| By Laura Dew |

Financial planning

Wealth Data has shared an updated ranking of the five largest Australian financial advice licensees, with just 59 advisers separating the firms in the lower half of the table.

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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UGC complaints quadruple in 4 months

AFCA complaints misconduct financial advice

| By Laura Dew |

Financial planning

United Global Capital complaints to AFCA have quadrupled since August and are highly likely to rise further as it retains membership for another six months.

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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The importance of assessing licensee performance

AFSL licensee financial advice centrepoint alliance

| By Shy-Ann Arkinstall |

Financial planning

An advice executive has shared how advisers should regularly assess the performance of their licensee, regardless of whether they are looking to leave, in order to prevent any problems from arising.

AUTHOR

Shy-Ann Arkinstall

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Praemium enters strategic partnership with alternative investments platform

praemium Alternatives platforms M&A

| By Laura Dew |

Funds management

Praemium has entered into a strategic partnership with alternative investments platform Stropro to expand advisers' access to structured products.

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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PAC completes latest boutique divestment

Pacific Current Group private markets M&A

| By Laura Dew |

Funds management

Pacific Current Group has completed the divestment of its holding in Carlisle Management Company to alternative asset manager Abacus Life.

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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Nuveen brings US private credit strategy to Australia

Nuveen private credit private markets fund launch bonds fixed income

| By Rhea Nath |

Funds management

Nuveen has announced the launch of a new private credit fund for Australian wholesale investors in response to “strong interest” from family offices and HNWIs for private markets solutions.

AUTHOR

Rhea Nath

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Jones announces further details on DBFO

Stephen Jones quality of advice review legislation financial advice

| By Maja Garaca Djurdjevic |

Policy & Regulation

Financial Services Minister Stephen Jones has shared further details on the second tranche of the Delivering Better Financial Outcomes reforms including modernising best interests duty and reforming Statements of Advice.

AUTHOR

Keystone AM to be wound up, advisers under investigation

ASIC

| By Laura Dew |

Financial planning

ASIC has confirmed it is investigating the financial advisers who recommended investors to invest in the Shield Master Fund, as the responsible entity Keystone Asset Management is to be wound up.

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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ASIC lifts the lid on internal dispute resolution complaints

ASIC IDR complaints

| By Rhea Nath |

Financial planning

The corporate regulator has shared details on how many investment and advice complaints were reported under the internal dispute resolution data reporting framework in FY24.

AUTHOR

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

Adviser sees registration suspended over ROA usage

1 month 2 weeks ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

Adviser sees registration suspended over ROA usage

1 month 3 weeks ago

Interesting. Would be good to know the details of the StrategyOne deal....

AZ NGA makes first acquisition post-Oaktree deal

1 month 3 weeks ago

ASIC suspends AFSL of Sydney fund manager

AUTHOR

Rhea Nath

Rhea 's social profiles:

How has AMP’s exit shaken up the biggest licensees?

AUTHOR

Laura Dew

Laura 's social profiles:

UGC complaints quadruple in 4 months

AUTHOR

Laura Dew

Laura 's social profiles:

The importance of assessing licensee performance

AUTHOR

Shy-Ann Arkinstall

Shy-Ann 's social profiles:

Praemium enters strategic partnership with alternative investments platform

AUTHOR

Laura Dew

Laura 's social profiles:

PAC completes latest boutique divestment

AUTHOR

Laura Dew

Laura 's social profiles:

Nuveen brings US private credit strategy to Australia

AUTHOR

Rhea Nath

Rhea 's social profiles:

Jones announces further details on DBFO

AUTHOR

Keystone AM to be wound up, advisers under investigation

AUTHOR

Laura Dew

Laura 's social profiles:

ASIC lifts the lid on internal dispute resolution complaints

AUTHOR

Rhea Nath

Rhea 's social profiles:

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