HUB24 managing director, Andrew Alcock, believes there is a “clear pack of winners” gaining market share as traditional platforms exit while flagging the possibility of a digital advice product for lower balance clients.
Announcing underlying NPAT of $36.5 million in its FY23 results, the firm has reaffirmed its focus on life insurance and will be exiting financial advice and wealth management under a simplified business model.
Centrepoint Alliance has announced a net profit after tax of $6.3 million as it forecasts a strong recruitment pipeline of over 360 financial advisers looking to join the licensee.
The firm has announced revenue growth of almost 30 per cent to $33.7 million in its annual results and will be seeking to reach $100 million by 2030, doubling its previous target.
ASIC has commenced “urgent proceedings” in the Federal Court of a former Sydney financial adviser amid an investigation regarding fees charged to client super funds.
HUB24 is targeting platform funds under administration of up to $100 billion by FY25 as it looks to build the ‘platform of tomorrow’.
Amidst concerns that video SOAs or a shorter advice document could replace paraplanners, this industry professional sees it as an opportunity for them to upskill.
Magellan chief executive, David George, has sent a message to advisers that they are a key client base for the firm while discussing how M&A could help to reach its $100 billion FUM target.
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.
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.
