Wealth segment bolsters CountPlus’ strong performance in 1H23

financial-advice/Countplus/ASX/

CountPlus has noted an 8% rise in reported revenue along with welcoming 31 net new advisers in the first

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APRA locks in rate buffer amid stability risks

regulation/Policy-&-Regulation/interest-rates/markets/

The prudential regulator has opted to maintain its macroprudential settings, citing a “high degree of uncertainty” in the economic outlook.

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ETFs record ‘tepid’ growth in 2022: Morningstar

morningstar/ETFs/retail-investors/vanguard/

Despite exchange traded funds’ (ETFs) increasing popularity amongst retail investors, assets witnessed slower growth compared to 2021, growing 4.9% in 2022.

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Westpac joins peers in revising cash rate outlook

westpac/interest-rates/RBA/inflation/

The major bank has revised its monetary policy expectations off the back of the Reserve Bank's hawkish rhetoric.

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Praemium earnings up, fund flows down

investment-platform/Funds-management/financial-reporting/strategy/

The investment platform has issued its first financial results update following the sale of its international business.

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Former CEO pleads guilty to dishonest conduct for cheating investors

ASIC/dishonesty-charges/

A former director and CEO has pled guilty to two counts of engaging in dishonest conduct, with two further offences under consideration, for cheating investors of nearly $1 million.

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Perpetual profits drop 55% after Pendal acquisition costs

Pendal-Group/Perpetual/Rob-Adams/financial-results/

The asset manager has posted a 55% decline in net profit after tax as a result of costs associated with the Pendal acquisition.

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Pengana reports nil performance fees in 1H23

Pengana/financial-results/performance-fees/

Fund manager Pengana Capital Group paid zero performance fees in the first half of the financial year despite positive performance, a “highly unusual” position for the firm.

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Diverger plans scale increase to target advisers

Diverger-Limited/Nathan-Jacobsen/mergers-and-acquisitions/acquisition/

Diverger has added 160 self-licensed advice firms in the first half of 2022/23 as it targets achieving net revenue of $45 million in FY25.

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Is ASIC litigating enough?

ASIC/Senate-Estimates/Joe-Longo/Sarah-Court/

ASIC staff need to consider if they are taking on enough risk in choosing cases to litigate, according to chair Joe Longo, prompting a Senate committee to ask if it should re-adopt the ‘why not litigate’ mantra.

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