Praemium earnings up, fund flows down

investment platform Funds management financial reporting strategy

| By Charbel Kadib |

The investment platform has issued its first financial results update following the sale of its international business.

AUTHOR

Charbel Kadib

Charbel is an experienced financial services journalist, previously serving as news editor of The Adviser and Mortgage Business. Prior to joining Money Management, he also covered defence and national security developments as news editor of Defence Connect, Cyber Security Connect, and Space Connect. Charbel graduated from the University of Notre Dame with a double major in politics and journalism.

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Former CEO pleads guilty to dishonest conduct for cheating investors

ASIC dishonesty charges

| By Rhea Nath |

Financial planning

A former director and CEO has pled guilty to two counts of engaging in dishonest conduct, with two further offences under consideration, for cheating investors of nearly $1 million.

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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Perpetual profits drop 55% after Pendal acquisition costs

Pendal Group Perpetual Rob Adams financial results

| By Charbel Kadib |

Funds management

The asset manager has posted a 55% decline in net profit after tax as a result of costs associated with the Pendal acquisition.

AUTHOR

Charbel Kadib

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Pengana reports nil performance fees in 1H23

Pengana financial results performance fees

| By Laura Dew |

Funds management

Fund manager Pengana Capital Group paid zero performance fees in the first half of the financial year despite positive performance, a “highly unusual” position for the firm.

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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Diverger plans scale increase to target advisers

Diverger Limited Nathan Jacobsen mergers and acquisitions acquisition

| By Laura Dew |

Financial planning

Diverger has added 160 self-licensed advice firms in the first half of 2022/23 as it targets achieving net revenue of $45 million in FY25.

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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Is ASIC litigating enough?

ASIC Senate Estimates Joe Longo Sarah Court

| By Laura Dew |

Policy & Regulation

ASIC staff need to consider if they are taking on enough risk in choosing cases to litigate, according to chair Joe Longo, prompting a Senate committee to ask if it should re-adopt the ‘why not litigate’ mantra.

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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Clime Capital seeks M&A opportunity amid industry consolidation

Clime Investment Management clime capital acquisition M&A financial results

| By Laura Dew |

Funds management

Clime Capital has indicated it could take up new M&A opportunities this year as the firm opts to hold onto cash rather than pay an interim dividend.

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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Micro-AFSLs claim market share from largest players

Wealth Data insignia amp Centrepoint adviser numbers

| By Laura Dew |

Financial planning

Growth in micro-AFSLs has taken a hit to the largest players with Insignia and AMP both seeing a drop in their market share as a result.

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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Insignia earnings slide, FUMA thins

insignia IOOF renato mota

| By Charbel Kadib |

Financial planning

The wealth management firm has seen downturns in advice, platforms and asset management, which chief executive, Renato Mota, has attributed to the group's ongoing simplification strategy and negative market movements.

AUTHOR

Charbel Kadib

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Australia’s national gender pay gap reaches record low

WGEA gender equality Gender pay gap

| By Rhea Nath |

People & Products

The Australian Workplace Gender Equality Agency has revealed the new national gender pay gap for 2023, which is now the lowest on record.

AUTHOR

MARKET INSIGHTS

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

Adviser sees registration suspended over ROA usage

1 month ago

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

Adviser sees registration suspended over ROA usage

1 month 1 week ago

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

AZ NGA makes first acquisition post-Oaktree deal

1 month 1 week ago

Praemium earnings up, fund flows down

AUTHOR

Charbel Kadib

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Former CEO pleads guilty to dishonest conduct for cheating investors

AUTHOR

Rhea Nath

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Perpetual profits drop 55% after Pendal acquisition costs

AUTHOR

Charbel Kadib

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Pengana reports nil performance fees in 1H23

AUTHOR

Laura Dew

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Diverger plans scale increase to target advisers

AUTHOR

Laura Dew

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Is ASIC litigating enough?

AUTHOR

Laura Dew

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Clime Capital seeks M&A opportunity amid industry consolidation

AUTHOR

Laura Dew

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Micro-AFSLs claim market share from largest players

AUTHOR

Laura Dew

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Insignia earnings slide, FUMA thins

AUTHOR

Charbel Kadib

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Australia’s national gender pay gap reaches record low

AUTHOR

Rhea Nath

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