Sydney-based alternative fund manager East Coast Capital Management has formed its first advisory council as it enters its next phase of growth.

The shift in scale and consolidation has led to substantial growth in large privately owned licensees, which have tipped past 20 per cent of advisers for the first time to make up 28.3 per cent of the industry.

ETF providers Betashares and BlackRock are reporting increased flows for currency hedged vehicles, but an adviser has warned on the potential tax implications of changing currency.

Australian ETFs saw flows of $5.8 billion in July, more than double the previous month, and adviser adoption is tipped to help total flows reach $50 billion by the end of the year.

Financial advice has an important role to play in navigating family discussions around inheritance, according to CFS, with younger generations expecting a windfall of more than $500,000 while older ones try to meet their retirement needs.

Bravura chair Matthew Quinn is to step down later this year, following the exit of CEO Andrew Russell, while its future priority is digital advice in Australia.

A former Sydney investment manager has pleaded guilty to two counts of insider trading regarding a potential takeover of Platinum Asset Management, having acquired $2.6 million of Platinum shares.

The former director of United Global Capital has received a decision from the Administrative Review Tribunal regarding an appeal of his 10-year ban from providing financial services.

As the firm enters a new growth phase, Orbis Investments managing director Jason Ciccolallo has said it is looking to strengthen relationships with retail advisers to align with the firm’s institutional reputation.