Evans Dixon to rebrand
Evans Dixon has announced that it will re-brand to E&P Financial Group Limited, a month after the corporate regulator commenced civil penalty proceedings against its subsidiary.
The financial services group said in an announcement to the Australian Securities Exchange (ASX) that the change would “align the group’s trading brands and increase market awareness of the groups collective offering”.
The re-brand was subject to shareholder approval at its annual general meeting on 11 November, 2020.
On 4 September, 2020, Dixon Advisory, a subsidiary of Evans Dixon, had become the subject of Federal Court proceedings launched by the Australian Securities and Investments Commission (ASIC) over alleged failure to act in their clients’ best interests.
The regulator also alleged that Dixon Advisory representatives knew or ought to have known there was a conflict between their clients’ interests and the interests of entities associated with Dixon Advisory within the Evans Dixon group, and failed to give priority to clients’ interests.
Recommended for you
Advice firms are increasing their base salaries by as much as $50k to attract talent, particularly seeking advisers with a portable book of clients, but equity offerings remain off the table.
MLC Expand has appointed retirement specialist Andrew Long to work with advisers and licensees and drive growth for its recently launched retirement solution.
Despite banks largely having exited the industry, advisers under institutional licensees are least likely to switch while 26 advisers have been appointed to a licensee more than 10 times.
Insignia Financial has shared a progress update on the acquisition by US private equity firm CC Capital as well as the departure of a long-standing director.
