Count Financial class action trial pushed to Q1 2024

Count-Financial/CBA/commonwealth-bank/Countplus/

| By Rhea Nath |

Earmarking some $520 million in an indemnity deed to former subsidiary Count Financial, CBA’s full-year results reveal a trial date has been fixed for March 2024.

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.

View articles by Rhea

Rhea 's social profiles:

E-mail Author

Which platforms have received the highest adviser rating?

platforms/Adviser-Ratings/HUB24/CFS/netwealth/

| By Laura Dew |

People & Products

There are three standout platforms dominating the advice market, based on feedback to Adviser Ratings, as the shrinking pool of advisers become a powerful arbiter.

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.

View articles by Laura

Laura 's social profiles:

Sequoia hires former Praemium exec

Sequoia/Sequoia-financial-group/praemium/

| By Laura Dew |

People & Products

Former Praemium chief distribution officer, Martin Morris, has found a new role at Sequoia Financial Group, among three senior appointments made by 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.

View articles by Laura

Laura 's social profiles:

Maple-Brown Abbott CEO on the firm’s desire to grow adviser reach

maple-brown-abbott/YFYS/Sophia-Rahmani/fund-management/

| By Laura Dew |

Funds management

Now is a difficult time to be a fund manager, according to Maple-Brown Abbott chief executive, Sophia Rahmani, with the firm focusing on distribution to financial advisers to boost growth.

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.

View articles by Laura

Laura 's social profiles:

WT Financial forecasts 130% NPAT increase

WT-Financial-Group/Keith-Cullen/profits/financial-results/

| By Laura Dew |

Financial planning

WT Financial is expecting to see a 130 per cent increase in net profit after tax, as it releases indicative results for FY22–23, and CEO Keith Cullen believes the outlook for financial advice has “never been stronger”.

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.

View articles by Laura

Laura 's social profiles:

AIOFP flags stealth re-entry of banks to advice

AIOFP/banks/financial-advice/Big-four-banks/

| By Rhea Nath |

Financial planning

Noting that some QAR recommendations make it “less legally onerous” for banks to provide advice, the industry association said it suspects a lingering interest from these institutions to return to wealth management.

AUTHOR

Rhea Nath

View articles by Rhea

Rhea 's social profiles:

E-mail Author

How can Andrew Formica help Magellan recover?

Andrew-Formica/Janus-Henderson/Magellan/Perpetual/boards/M&A/

| By Laura Dew |

Editorial

OP-ED With Magellan CEO David George hinting at possible acquisitions, the appointment of Andrew Formica, who pursued an aggressive M&A strategy for Henderson as its former CEO, is an interesting move.

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.

View articles by Laura

Laura 's social profiles:

Insignia adviser losses on downward trend

Wealth-Data/Colin-Williams/insignia-financial/

| By Jasmine Siljic |

Financial planning

The licensee has lost 92 advisers since the start of the calendar year, according to Wealth Data, including 12 in the past week.

AUTHOR

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.

View articles by Jasmine

Jasmine 's social profiles:

E-mail Author

Treasury opens consultation on managed investments schemes

treasury/ASIC/managed-investment-scheme/

| By Rhea Nath |

Financial planning

Following its initial announcement in the October 2022‑23 Budget, the Government is now seeking feedback on the appropriateness of the existing regulatory settings for managed investment schemes.

AUTHOR

Rhea Nath

View articles by Rhea

Rhea 's social profiles:

E-mail Author

Dixon Advisory director to face civil penalty proceedings

Dixon-Advisory/dass/ASIC/director/

| By Laura Dew |

Financial planning

ASIC has commenced civil penalty proceedings in the Federal Court against a director of Dixon Advisory and Superannuation Services for alleged breaches of directors’ duties.

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.

View articles by Laura