Butterworth departs DKN/IOOF



DKN chief executive Phil Butterworth is to depart the company.
IOOF announced today that following the successful completion of the scheme of arrangement between DKN Financial Group and IOOF Holdings Limited, Butterworth had "elected to leave the company".
It said Lonsdale Financial Group chief executive Mario Modica would now report directly to IOOF managing director Chris Kelaher and join the IOOF leadership group.
Butterworth will depart the company on Friday.
Recommended for you
Results are out for the latest sitting of the ASIC financial advice exam, with the pass rate falling for the second consecutive sitting.
Adviser losses for the end of June have come in 143 per cent higher than the same period last year, and bring the total June loss to over 350.
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.