Allco restructuring continues
Troubled financial services company Allco has continued its restructuring with the appointment of Neil Brown to replace Michael Stefanovski, who announced his resignation last week as executive director.
Previously Allco’s head of funds management, Brown joins independent directors Ian Tsicalas (chair) and Michael Brogan on the board of Allco Managed Investment Funds.
In its earlier announcement of Stefanovski’s resignation, Allco highlighted “the significant progress made in implementing Allco’s restructuring plans to a refocused strategy built around its core capabilities”.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
