Insignia and AMP CEOs on reinventing advice for middle Australia

amp insignia Alexis George renato mota quality of advice review

| By Rhea Nath |

The chief executives of AMP and Insignia have shared their thoughts on how regulatory and technological developments can help a largely underserved “middle Australian” population from falling through the cracks of financial advice.

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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Fund managers feeling pressure from super internalisation

super funds fund managers super consolidation

| By Laura Dew |

Funds management

A quarter of fund managers surveyed by Frontier have named the move towards internalisation by super funds as the biggest challenge to their business as they seek to retain super mandates.

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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Advice breaches decline but ASIC concerned at industry inaction

ASIC financial advice licensees

| By Laura Dew |

Financial planning

ASIC has indicated its disappointment that “little improvement” has been made on the reportable situation regime but financial advice breaches have declined over the year.

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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FAAA loses over 1k members in FY22–23

FPA AFA Wealth Data adviser numbers

| By Laura Dew |

Financial planning

Membership of the FAAA declined by 11.7 per cent in the last financial year, according to its 2023 annual report, three times faster than the overall decline in adviser numbers over the period.

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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Rival bidder enters frame for Diverger

Diverger acquisition

| By Rhea Nath |

Financial planning

Diverger has confirmed a rival bidder has put forward a competing proposal for acquisition, though Count continues to be the frontrunner in the eyes of the board.

AUTHOR

Rhea Nath

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Global advice group sees assets frozen by Federal Court

ASIC federal court

| By Laura Dew |

Financial planning

A global advisory firm has been ordered by the Federal Court to freeze its funds and assets for failing to lodge financial statements.

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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Sequoia leads adviser growth for October

Sequoia Wealth Data adviser numbers

| By Jasmine Siljic |

Financial planning

Sequoia Financial Group has welcomed an additional five financial advisers to its ranks, reporting positive adviser growth in three out of four weeks this month, according to Wealth Data.

AUTHOR

Jasmine Siljic

Jasmine Siljic is a journalist at Money Management. Prior to joining MM, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.

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Former Ord Minnett adviser embroiled in client solicitation dispute

ord minnett legal federal court

| By Laura Dew |

Financial planning

A former Ord Minnett financial adviser, who is being sued by the firm, has been temporarily banned from contacting her former clients after it was found 17 clients moved over to her new employer.

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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Dixon Advisory’s $7.2m penalty unlikely to ever be paid: ASIC

Dixon Advisory dass ASIC Sarah Court

| By Jasmine Siljic |

Financial planning

Appearing at Senate estimates, ASIC deputy chair Sarah Court has claimed the $7.2 million penalty issued to Dixon Advisory was made to send a “deterrent message” as the fine is unlikely to ever be paid.

AUTHOR

Jasmine Siljic

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Winners of the 10th Super Fund of the Year Awards revealed

super funds awards super fund of the year

| By Malavika |

People & Products

There were over 20 winners at the 2023 Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award.

AUTHOR

Malavika Santhebennur

Malavika Santhebennur was a news and features financial services journalist at Money Management, part of Financial Express. She has previously written in various industrial publications at Cirrus Media, including mining, food, franchising, and health.

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