Former RC case study receives penalty for unconscionable conduct

AFSL Hayne Royal commission ASIC

The Federal Court has imposed a combined $13.5 million penalty on Select AFSL, BlueInc Services, and Insurance Marketing Services for engaging in unconscionable conduct.

AUTHOR

Franklin Templeton crowned this year’s Fund Manager of the Year

FMOTY Fund Manager of the Year Franklin Templeton

Managing director, Felicity Walsh, reflects on the win, sharing what she feels sets Franklin Templeton apart and how the firm is partnering closely with clients to capitalise on market opportunities.

AUTHOR

Diverger explores innovative ways to increase scale

Diverger Limited Nathan Jacobsen Centrepoint licensees

EXCLUSIVE Easing regulation has made it easier to be a licensee, but Diverger is still in talks to see how it can grow its scale, according to chief executive Nathan Jacobsen.

AUTHOR

AMP completes SuperConcepts sale

amp SuperConcepts matthew rowe

AMP has completed its sale of SuperConcepts to private equity firm Pemba Capital Partners.

AUTHOR

IAL receives largest-ever insurance penalty for consumer protection breaches

ASIC insurance

Insurance Australia Ltd has been penalised $40 million by the Federal Court in the largest-ever penalty imposed against an insurer for breaches of consumer protection law.

AUTHOR

Super changes kick in for FY2023–24

insurance superannuation funds transfer balance cap super balance FSC ISA

As the new financial year kicks off, financial advisers will need to ensure their clients – especially those approaching retirement – are in the right place for their superannuation as multiple changes take effect.

AUTHOR

AUSTRAC completes Bell Financial audit

Bell Financial Group AUSTRAC anti-money laundering compliance

AUSTRAC has concluded its external audit of Bell Financial Group after more than a year and has released its verdict.

AUTHOR

E&P Financial appoints new CEO

E&P Financial Group ceo Dixon Advisory dass

E&P Financial Group, parent of Dixon Advisory, has appointed a new chief executive as Peter Anderson steps down.

AUTHOR

Significant loss of 46 advisers marks end of FY2022–23

Wealth Data Colin Williams adviser movement

Going into the end of the financial year, adviser movements remain disappointing with a large loss of 46 advisers for the week, according to Wealth Data.

AUTHOR

FAAA calls on government to re-enact levy freeze

Sarah Abood ASIC levy financial advice levy

FAAA chief executive, Sarah Abood, has hit out at the 2022–23 ASIC levy estimate for advisers and called for the temporary freeze to be re-enacted.

AUTHOR

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

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

3 weeks 6 days ago

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

1 month ago

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

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 4 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

1 week ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

6 days 14 hours ago