Clime Investment Management has reported a statutory loss of $3.8 million for FY24 following a “challenging period” for the firm, however is on a “clear path to recovery” following the Madison sale.
The licensee has become the second-largest wealth management advice firm in Australia, with its funds under advice hitting $34.2 billion in FY24.
While all MySuper products successfully passed the latest performance test, trustee-directed products encountered difficulties.
The number of new entrants in the financial advice profession who have since departed this year has seen an improvement from the amount that left in 2023.
The Financial Advice Association Australia has addressed “pretty disturbing” instances where its financial adviser members have allegedly experienced “bullying” by product providers.
E&P Financial Group says outstanding legacy issues related to the Dixon Advisory collapse have been resolved, passing the buck for its compensation onto financial advisers via the CSLR.
Australian Ethical has reported 80 per cent growth in its FY24 statutory net profit after tax, with its board set to welcome Pendal’s former CEO next month.
Perpetual has reported a statutory loss of $472 million for FY24 after experiencing heavy asset management outflows, while chairman Tony D’Aloisio is to retire from the board after eight years.
Platinum has announced it will partner with global institutional managers to help boost their retail presence as part of its new growth strategy, as well as reporting a 44 per cent NPAT drop.
