Wealth management platform Netwealth has reported record quarterly net flows to managed accounts and is set to launch Netwealth Private for select advice groups this quarter.

Advice licensee Fiducian is in the process of acquiring around $94 million of assets via tuck-in acquisitions, having indicated it was holding $34 million in cash on its balance sheet earlier this year.

Index provider MSCI has unveiled global classification standards, making it easier to research private asset funds, describing how it will offer “order, comparability and consistency” for wealth managers.

ASIC has canceled the AFSL of Sydney-based asset consultant and research firm.

ASIC has banned the former CEO of Lighthouse Partners from providing financial services for 10 years after failing to report fees-for-no-service conduct, the second individual banning from this firm.

Private wealth firm Escala Partners is seeking to become a leading player in the Australian advice landscape, helped by backing from US player Focus Financial.

Almost a third of financial advisers are spending up to a year evaluating smart beta ETF strategies before they add them to portfolios, according to VanEck.

J.P. Morgan Asset Management has announced the launch of four low-cost ETFs in partnership with Vanguard Australia, enhancing advisers’ access to affordable, strategically aligned investment options.

Platform HUB24 has launched a client reporting solution to improve adviser reporting across custody and non-custody assets.

A “large dependency” on research houses, poor performance indicators, and a failure to close underperforming options are among platform trustee problems flagged by APRA.