The Financial Services Council has recommended implementing a per capita limit per annum for financial advisers when it comes to the CSLR levy to allow them to expand their business without levy uncertainty.

Wealth managers are planning to increase their use of active strategies as they believe active management offers diversification and outperformance potential for their clients, according to Schroders.

Pinnacle’s managing director Ian Macoun has offloaded a 1.73 per cent stake in the company, with plans to reinvest the proceeds into funds managed by Metrics Credit Partners.

With AT1s being phased out, what fixed income alternatives can advisers use to replace these assets and the income they provide to clients?

Private wealth manager Escala Partners has increased its alternatives allocations to more than a third in the past three years, describing the asset class as offering “fertile ground” for diversification.

DASH Technology Group has seen a 49 per cent uplift in its carrying value and is completing a new capital raising, having already received $30 million from growth investor Bailador.

At the halfway point of the year, consolidation pressures continue to drive financial services M&A with three areas identified as targets for asset and wealth managers, according to PwC’s mid-year outlook.

ASIC is calling on licensees to review their client onboarding practices to avoid vulnerabilities associated with share sale fraud, noting particular concerns in the use of white labelling services.

Aussie wealth manager Shaw and Partners has made its entry into the New Zealand market with a 75 per cent acquisition of investment firm Investment Services Group.