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.
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.
Entireti chief executive Neil Younger has shared the responsibility and privilege he feels as the head of Australia’s largest advice licensee, and how he aims to prevent attrition as it integrates AMP advisers.
The FAAA and AFCA are in disagreement regarding how much of an industry collapse, such as Dixon Advisory, relates to product failure and how much relates to advice.
Global asset managers are seeking out acquisitions and strategic partnerships in the area of technology and robo-advice to benefit from an evolving wealth management landscape and futureproof their business.
Two months after reporting its highest-ever quarterly growth, Netwealth announced it has passed $100 billion in funds under administration.
Magellan has announced the launch of its first long-short product, its third fund arising from its strategic partnership with Vinva Investment Management.
OC Funds Management and PAN-Tribal Asset Management have both launched equity funds, investing in Australian mid-caps and global equities, respectively.
AMP expects to make a $36 million loss from its advice divestment, while Entireti has announced a new senior leadership structure as the deal completes.
The FAAA is actively exploring and has sought legal advice on how the problem of phoenixing AFSLs can be avoided to prevent the burden falling on the CSLR and the advice sector.
