Active ETFs report ‘stark’ $1bn outflows during 2023

global-x/Global-X-ETFs/ETFs/BetaShares/vanguard/exchange-traded-funds/

| By Jasmine Siljic |

Despite accounting for over 50 per cent of fund launches in 2023, active ETFs recorded approximately $1 billion in outflows last year, confirming investors’ preference for passive strategies.

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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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Use of AI in advice under ASIC scrutiny

artificial-intelligence/Joe-Longo/fintech/ASIC/

| By Laura Dew |

Financial planning

ASIC chair Joseph Longo says the regulator is conducting a review into the use of artificial intelligence in financial advice as it explores how to prevent AI harm to consumers.

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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Government expands flexibility for approved degrees

financial-advisers/Bachelor-of-Financial-Planning-degree/education-requirements/

| By Keith Ford |

Financial planning

The federal government has released draft legislation making it easier for financial advisers to demonstrate they have a qualified degree and changing the transitional arrangements for tax (financial) advisers.

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Keith Ford

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What to expect in the 2024 adviser exams

adviser-exam/exam/ASIC/

| By Jasmine Siljic |

Financial planning

The regulator has provided example questions of what the next batch of candidates sitting on 26 March can expect to see, following regulatory changes to its structure.

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Jasmine Siljic

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‘No time like the present’ for WA firm’s national expansion

expansion/Perth/AZ-NGA/financial-advice/

| By Jasmine Siljic |

Financial planning

Perth-based financial advice firm The Wealth Designers is looking to ‘seize the opportunity’ of national expansion across Australia, as the firm looks to open new offices across the country in 2024.

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Jasmine Siljic

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How much did Melissa Caddick’s enforcement action cost the advice sector?

Melissa-Caddick/fraud/Ponzi-scheme/ASIC/enforcement/

| By Laura Dew |

Financial planning

The actions of Sydney fraudster Melissa Caddick have resulted in heavy costs for the financial advice subsector, as the FAAA calls for costs of the enforcement action against unlicensed operators to be borne by the whole financial services industry.

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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Victorian advice firm rebrands with new operating model

AFSL/financial-advice/rebrand/Victoria/

| By Jasmine Siljic |

Financial planning

Dirigere Advisory, a Victorian boutique financial advice licensee, has relaunched with a new operating model that aims to better meet the needs of its advisers, including equity participation and improved pricing model.

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Jasmine Siljic

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Sustainable funds in ANZ region buck first global outflows

ASIC/ESG/morningstar/sustainable-investing/

| By Laura Dew |

Funds management

Sustainable funds in Australia and New Zealand saw US$567 million in inflows in the last quarter, according to Morningstar, but political concerns in the US meant global funds recorded their first-ever quarterly outflows.

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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JPMAM signs MOU with NZ investment advisory firm

JPMAM/New-Zealand/investment-management/

| By Laura Dew |

Funds management

JP Morgan Asset Management has announced a strategic partnership with wealth investment firm Craigs Investment Partners.

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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Netwealth sees boost as ‘elevated outflows’ moderate

netwealth/matt-heine/outflows/inflow/

| By Laura Dew |

Financial planning

Initiatives taken by Netwealth to stem outflows earlier in the year have helped the firm in the last quarter as December saw its highest inflows in 10 months.

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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