AMP adds consolidated reporting to North platform

amp/amp-north/North/platforms/technology/

| By Rhea Nath |

AMP has launched household consolidated reporting across multiple clients to North Interactive in response to adviser feedback.

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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ASIC suspends AFSL of Sydney fund manager

ASIC/AFSL/managed-investment-scheme/Sydney/

| By Rhea Nath |

Financial planning

ASIC has suspended the AFSL of a Sydney fund manager, which operates a managed investment scheme, over repeated failures to comply with licensee obligations.

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Rhea Nath

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How has AMP’s exit shaken up the biggest licensees?

amp/AFSL/Wealth-Data/licensees/Neil-Younger/financial-advice/

| By Laura Dew |

Financial planning

Wealth Data has shared an updated ranking of the five largest Australian financial advice licensees, with just 59 advisers separating the firms in the lower half of the table.

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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UGC complaints quadruple in 4 months

AFCA/complaints/misconduct/financial-advice/

| By Laura Dew |

Financial planning

United Global Capital complaints to AFCA have quadrupled since August and are highly likely to rise further as it retains membership for another six months.

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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The importance of assessing licensee performance

AFSL/licensee/financial-advice/centrepoint-alliance/

| By Shy-Ann Arkinstall |

Financial planning

An advice executive has shared how advisers should regularly assess the performance of their licensee, regardless of whether they are looking to leave, in order to prevent any problems from arising.

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Shy-Ann Arkinstall

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Praemium enters strategic partnership with alternative investments platform

praemium/Alternatives/platforms/M&A/

| By Laura Dew |

Funds management

Praemium has entered into a strategic partnership with alternative investments platform Stropro to expand advisers' access to structured products.

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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PAC completes latest boutique divestment

Pacific-Current-Group/private-markets/M&A/

| By Laura Dew |

Funds management

Pacific Current Group has completed the divestment of its holding in Carlisle Management Company to alternative asset manager Abacus Life.

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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Nuveen brings US private credit strategy to Australia

Nuveen/private-credit/private-markets/fund-launch/bonds/fixed-income/

| By Rhea Nath |

Funds management

Nuveen has announced the launch of a new private credit fund for Australian wholesale investors in response to “strong interest” from family offices and HNWIs for private markets solutions.

AUTHOR

Rhea Nath

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Jones announces further details on DBFO

Stephen-Jones/quality-of-advice-review/legislation/financial-advice/

| By Maja Garaca Djurdjevic |

Policy & Regulation

Financial Services Minister Stephen Jones has shared further details on the second tranche of the Delivering Better Financial Outcomes reforms including modernising best interests duty and reforming Statements of Advice.

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Keystone AM to be wound up, advisers under investigation

ASIC/

| By Laura Dew |

Financial planning

ASIC has confirmed it is investigating the financial advisers who recommended investors to invest in the Shield Master Fund, as the responsible entity Keystone Asset Management is to be wound up.

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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