The exit of “smaller non-economic advisers” has improved net margin at Sequoia, while the divestment of Morrison Securities boosted its statutory net profit after tax for FY24.
The wealth management platform has released its FY24 results and is planning to capture platform migration occurring among financial advisers to drive future growth.
Two former United Global Capital advisers, which entered into liquidation earlier this month, have commenced at a new licensee, while overall adviser numbers have fallen back into the negative.
Regal Partners CEO Brendan O’Connor says the firm is “match-fit” for future acquisitions as the firm reports a net profit after tax increase of 349 per cent in 1H24.
Acting Pacific Current chief executive Michael Clarke has shot down claims that the firm is on a wind-up path after multiple divestments but says there will likely be further actions to come.
State Street Global Advisors has taken a 5 per cent strategic stake in Raiz Invest, deepening its existing relationship with the Australian fintech platform.
Publisher and entrepreneur Greg Bright, the visionary founder of Momentum Media brands InvestorDaily, ifa, Money Management, and Super Review, has passed away at the age of 70.
Centrepoint Alliance chief executive John Shuttleworth foresees a “lucrative recruitment market” in the advice space in the next 12–18 months which will provide a tailwind for the licensee.
The launch of a new UK affiliate by Pinnacle Investment Management has hit a snag as delays mean Ironbark has pulled a planned $3 billion mandate from the firm.
Prime Financial Group has announced its FY24 results in what proved to be an “inflection point” for the firm, with further M&A activity and growth in the alternatives market ahead.
