A Perth adviser who stole over $1 million from his clients has received a jail sentence in Perth District Court today, with the judge reprimanding his lack of remorse for the crime.
National Australia Bank has been ordered to pay $2.1 million by the Federal Court, the maximum penalty possible for a single breach of unconscionable conduct.
Count has made a significant acquisition of a wealth and financial planning licensee in a deal that will create a combined business with funds under administration and management of $29 billion.
Insignia is fast becoming the licensee to feel the biggest brunt of adviser departures, losing 24 this week and over 100 in the past calendar year, which is three times that of rival AMP, according to Wealth Data.
ASIC has shared how many Australian financial services licences were granted and rejected by the corporate regulator in the 2022-2023 financial year.
TelstraSuper, Aware Super, Australian Retirement Trust, HESTA, and UniSuper are some of the prominent super funds that have qualified as finalists this year.
Having joined the investment bank last July, former Treasurer Josh Frydenberg has been promoted to a senior role on the board of its Australian division.
Praemium chief strategy officer Denis Orrock has shared with Money Management how advisers can work with high-net-worth investors as a new report finds 45,000 people have entered the $2.5 million–$5 million bracket.
With just days until the previous scheduled date of 1 October, ASIC has once again delayed the date that relevant providers must be registered.
The law “should not continue to assume that financial advice is being given by a person”, according to Michelle Levy, as she hints that advice from superannuation funds could be given by a digital advice tool.
