Advisers favour benefits from equal weighted ETFs

ETFs/AUSIEX/ASX/australian-equities/

Equal weighted ETFs are gaining ground with financial advisers, according to AUSIEX, as they believe they can bring balance to client portfolios.

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Global X targets $20bn AUM by 2027

ETFs/Global-X-ETFs/

ETF provider Global X has surpassed $10 billion in assets under management and is now targeting to double this figure by 2027.

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FSCP raps adviser over ‘extraordinary fees’ for inappropriate advice

ASIC/FSCP/financial-advice/switching/

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to switch their superannuation into a poorly performing product.

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Perennial Partners takes majority stake in responsible manager

Perennial-Partners/responsible-investing/sustainable-investing/ESG/RIAA/M&A/

Perennial Partners has acquired a majority stake in Melior Investment Management which will see it take over management of the Melior Australian Impact Fund.

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The business model set to drive EOFY losses

Wealth-Data/SMSF/accountants/limited-advice/

With adviser losses set to continue, Wealth Data founder Colin Williams has detailed which business model is likely to drive the exodus.

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Betashares eyes private markets arena

BetaShares/private-markets/ETFs/

Betashares is preparing to enter the private asset space, with the ETF provider set to unveil plans to roll out a suite of unlisted funds starting with a US private credit offering.

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1 in 10 Aussies are millionaires as median wealth soars: UBS

wealth-management/UBS/

Australians have the second-highest median wealth in the world, beaten only by Luxembourg, as those in the middle bands are experiencing pronounced wealth growth, UBS has said.

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Advisers demand more guidance from BDMs amid evolving business models

Adviser-Ratings/business-development/financial-advice/

Traditional relationships between advisers and business development managers are evolving, with the expectations for them to provide meaningful guidance to the advice practice.

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BlackRock model portfolios take profits on Aussie equities

blackrock/model-portfolios/wealth-management/

BlackRock has opted to reduce exposure to Australian equities in its model portfolios, taking profits after strong ASX performance year-to-date.

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Padua expands technical team with CFS hire

PADUA/CFS/advice-technology/

Padua Solutions has poached an individual from Colonial First State to take on a newly created role focused on overseeing its technical capabilities.

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