Six new financial advice licensees have begun operations in the past week and zero ceased, Wealth Data reveals, with more than 100 licensee owners commencing in 2023 alone.
The super trustee has received three infringement notices for allegedly misleading statements on its social media regarding the performance of one of its investment options.
The ASIC funding levy for 2022-23 has been reduced from its original estimates, after criticism that the increase to $3,217 per adviser was too high.
Centrepoint Alliance has acquired a Brisbane financial advice firm with over $1 billion in funds under advice as part of its strategy to accelerate growth.
There are signs the financial advice industry is stabilising as Q3 2023 demonstrated the second-lowest number of exits in five years, according to Adviser Ratings’ quarterly report.
Magellan executive chair Andrew Formica has highlighted the skills the firm will be looking for in its recruitment of a new CEO to replace David George, as he scraps its $100 billion AUM target.
RBA governor Michele Bullock has made her second monetary policy decision for the monthly cash rate on Melbourne Cup Day, while Treasurer Jim Chalmers offers an update on the RBA review and appointment of a deputy governor.
An emerging debate has looked at whether self-licensed firms should be differentiated by virtue of their scale compared to institutional licensees and dealer groups when they carry the same regulatory obligations.
A “priority hotline” between professional associations and ASIC, as suggested by the Financial Advice Association of Australia, would damage the regulator’s independence, according to former ASIC chair Tony D’Aloisio.
The Australian Financial Complaints Authority has opened a consultation into how it determines compensation for complaints involving financial advisers.
