A former Victorian financial adviser has been sentenced after stealing $4.4 million from clients, family and friends to feed his “raging gambling addiction”.
Advice licensee Centrepoint Alliance has acquired the financial advice book of superannuation fund Brighter Super and will become the preferred partner to provide advice to its members.
Commentators have said Australian fund managers are less knowledgeable compared with overseas peers when it comes to expanding their range with ETFs and underestimating the competition from passive strategies.
The association has expressed its support for the Opposition’s commitment to making financial advice a “national priority”, alongside its bold target of reaching 30,000 advisers.
Australian investors are increasingly turning to financial advisers as their top source of information, with more than a third using them for investment guidance.
The number of advisers using the HUB24 platform has passed 5,000, with over 100 added in the latest quarter, thanks to a migration from ClearView.
ClearBridge Investments has expanded investor access to its global infrastructure investment strategies through the launch of three active ETFs on the ASX.
Perpetual outflows have risen by 134 per cent from the previous quarter as the result of client mergers and rebalancing, including $2.5 billion in outflows at Pendal Asset Management.
AMP has cut its executive remuneration following shareholder pushback which sees chief executive Alexis George’s maximum-possible remuneration reduced by almost $1 million.
South Australian financial advice firm Calder Wealth Management has announced a strategic partnership with a risk advice firm.
