Having reinstated the membership of United Global Capital, AFCA will also continue to accept complaints from Next Generation Advice beyond its original expiration.
The Compensation Scheme of Last Resort has paid out 551 claims since operations began in April 2024, with $36.7 million to victims of Dixon Advisory and Superannuation Services.
A former financial adviser who stole $4.4 million from his family and friends to feed gambling debts has been permanently banned by ASIC.
With new entrants now having seen 12 consecutive weeks of double-digit growth, Padua Wealth Data has broken down which business models are making the most new adviser appointments.
In an unexpected move, AFCA has reinstated the membership of United Global Capital until March 2026 to allow individuals to submit complaints, a decision its CEO says has been made in the public interest in response to consumer harm.
Global asset management group First Sentier has announced a successor for Mark Steinberg, who is due to step down at the end of the year.
Less than one week after imposing an interim stop order on the La Trobe Australian Credit Fund, the order has been lifted after the firm made improvements to its target market determination.
Macquarie Investment Management is to fully remediate all of its superannuation fund members the entirety of what they had invested in the Shield Master Fund, totalling $321 million.
There may be growing interest in private markets, but a survey by advice firm Apt Wealth Partners has found even HNW investors lack sufficient knowledge of their complexities.
