First Sentier Investors has announced it will close four of its Australian investment teams amid a simplification of the business, with $14 billion expected to be returned to investors.
Ninety finalists have been chosen to compete at the 36th annual Fund Manager of the Year Awards, to be held in Sydney on 13 June.
Sequoia shareholders are due to hold a vote regarding the removal of chief executive Garry Crole and are looking to appoint the chair of a rival licensee in his place on the board.
Shaw and Partners co-CEO, Earl Evans, reflects on the advice firm’s decade-long success story and why fostering a quality work culture sits at the heart of the business.
Godfrey Pembroke Group has reappointed Lonsec as its research and investment consultant partner, while the licensee transitions out of Insignia Financial’s institutional ownership.
ASIC has cancelled the AFSL of a Brisbane advice firm in order to protect the interest of potential consumers as it feared the firm would breach financial services laws.
Following its acquisition of Australian Unity’s advice business, Fortnum Private Wealth and Professional Financial Services have formed a new parent company with Fortnum CEO Neil Younger at the helm.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
There is one specific risk that is a significantly higher concern for financial services directors compared to companies overall and is impacting their risk appetite, according to the AICD.
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
