Iress sells off managed funds business

iress/SS&C-Technologies/managed-funds/

| By Rhea Nath |

The firm has entered an agreement with SS&C to divest its managed funds administration business for $52 million with the deal expected to close in Q3 FY23 as it details its half-year results.

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iress

SS&C Technologies

managed funds

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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Financial advisers gain recognition as a profession from ABS

ABS/financial-advice/financial-advisers/

| By Jasmine Siljic |

Financial planning

The statistical agency has officially recognised the financial advice profession by using the occupational terms 'financial adviser/financial planner' as a result of the FAAA advocacy.

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ABS

financial advice

financial advisers

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.

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Profits halve at Magellan, new chair appointed

Magellan/Andrew-Formica/David-George/Hamish-Douglass/

| By Laura Dew |

Funds management

Net profit after tax at Magellan has declined by 52 per cent as it releases its FY22-23 results, its first in a five-year transformation strategy, and makes several people moves.

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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 v large licensees: who leads the way?

Wealth-Data/Colin-Williams/adviser-numbers/

| By Jasmine Siljic |

Financial planning

There are 300 more micro-AFSLs this year than in 2019, but the majority of advisers still work at large licensees with more than 100 advisers.

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Wealth Data

Colin Williams

adviser numbers

AUTHOR

Jasmine Siljic

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Why firms need to scratch the surface of their AI investments

ESG/artificial-intelligence/Alphinity-Investment-Management/BetaShares/fidelity/

| By Rhea Nath |

Funds management

The optimism behind this disruptive technology has driven markets to record highs, but experts warn there are ESG risks and considerations that can be overlooked.

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ESG

artificial intelligence

Alphinity Investment Management

BetaShares

fidelity

AUTHOR

Rhea Nath

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ASIC loses court bid to CommBank, Colonial First State

ASIC/CBA/colonial-first-state/

| By Staff |

Superannuation

The regulator failed to overturn a Federal Court finding that the Commonwealth Bank of Australia and Colonial First State did not receive “conflicted remuneration” benefits under a superannuation agreement.

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ASIC

CBA

colonial first state

AUTHOR

First-ever Women in Finance Summit launches

women-in-financial-services/women-in-finance/momentum/gender-diversity/Women-in-Business/

| By Malavika |

People & Products

Momentum Media is proud to launch its inaugural Women in Finance Summit, aimed at supporting and connecting leading female business owners in the financial services space.

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women in financial services

AUTHOR

Malavika Santhebennur

Malavika Santhebennur was a news and features financial services journalist at Money Management, part of Financial Express. She has previously written in various industrial publications at Cirrus Media, including mining, food, franchising, and health.

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Client book no longer a barrier to advice recruitment

financial-advisers/recruitment/Kaizen-Recruitment/Wealth-Data/

| By Laura Dew |

Financial planning

With the advice industry experiencing a loss of advisers, holding a solid client book is no longer a requirement as many firms may already have existing clients but lack sufficient advisers.

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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 announces new strategic alliance

Clime-Investment-Management/Madison/Madison-Financial-Group/alliance/M&A/

| By Rhea Nath |

People & Products

Madison Financial Group, a wholly owned subsidiary of Clime, has formed a strategic alliance with Practice Development Group, bringing combined FUA to $8 billion through 130 advisers.

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Clime Investment Management

Madison

Madison Financial Group

alliance

M&A

AUTHOR

Rhea Nath

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Will QAR drive greater paraplanner demand?

paraplanning/support/quality-of-advice-review/QAR/paraplanners/

| By Jasmine Siljic |

Financial planning

The Quality of Advice Review may be hoping to reduce regulatory red tape but the need for temporary support staff and paraplanners is on the rise as more advisers opt for a micro-AFSL structure.

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paraplanning

support

quality of advice review

QAR

paraplanners

AUTHOR

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Iress sells off managed funds business

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Rhea Nath

Rhea 's social profiles:

Financial advisers gain recognition as a profession from ABS

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Jasmine 's social profiles:

Profits halve at Magellan, new chair appointed

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Laura Dew

Laura 's social profiles:

Micro-AFSLs v large licensees: who leads the way?

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Jasmine Siljic

Jasmine 's social profiles:

Why firms need to scratch the surface of their AI investments

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Rhea 's social profiles:

ASIC loses court bid to CommBank, Colonial First State

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First-ever Women in Finance Summit launches

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Malavika Santhebennur

Malavika 's social profiles:

Client book no longer a barrier to advice recruitment

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Laura Dew

Laura 's social profiles:

Clime announces new strategic alliance

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Rhea Nath

Rhea 's social profiles:

Will QAR drive greater paraplanner demand?

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