Former UGC advisers join new licensee

Wealth-Data/AFSL/liquidation/

| By Jasmine Siljic |

Two former United Global Capital advisers, which entered into liquidation earlier this month, have commenced at a new licensee, while overall adviser numbers have fallen back into the negative.

AUTHOR

Jasmine Siljic

Jasmine Siljic is a journalist at Money Management. Prior to joining MM, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.

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Regal Partners ‘match-fit’ for M&A amid 349% profit rise

Regal-Partners-Limited/regal/M&A/PM-Capital/financial-results/

| By Laura Dew |

Funds management

Regal Partners CEO Brendan O’Connor says the firm is “match-fit” for future acquisitions as the firm reports a net profit after tax increase of 349 per cent in 1H24.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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PAC CEO denies firm is on a ‘wind-up path’

Pacific-Current-Group/GQG-Partners/financial-results/

| By Laura Dew |

Funds management

Acting Pacific Current chief executive Michael Clarke has shot down claims that the firm is on a wind-up path after multiple divestments but says there will likely be further actions to come.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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SSGA unveils stake in Aussie fintech platform

ssga/State-Street-Global-Advisors/raiz-invest/fintech/

| By Jasmine Siljic |

Funds management

State Street Global Advisors has taken a 5 per cent strategic stake in Raiz Invest, deepening its existing relationship with the Australian fintech platform.

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Jasmine Siljic

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Remembering Greg Bright: A legacy in financial journalism and beyond

| By Staff |

People & Products

Publisher and entrepreneur Greg Bright, the visionary founder of Momentum Media brands InvestorDaily, ifa, Money Management, and Super Review, has passed away at the age of 70.

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Centrepoint’s Shuttleworth on the ‘lucrative’ adviser market

centrepoint-alliance/john-shuttleworth/AFSL/licensees/recruitment/

| By Laura Dew |

Financial planning

Centrepoint Alliance chief executive John Shuttleworth foresees a “lucrative recruitment market” in the advice space in the next 12–18 months which will provide a tailwind for the licensee.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Pinnacle’s planned UK affiliate loses $3bn Ironbark mandate

ironbark/Pinnacle/mandate/funds-management/

| By Laura Dew |

Funds management

The launch of a new UK affiliate by Pinnacle Investment Management has hit a snag as delays mean Ironbark has pulled a planned $3 billion mandate from the firm.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Prime Financial sees ‘strong tailwinds’ in private markets

prime-financial-group/simon-madder/Alternatives/M&A/

| By Jasmine Siljic |

Financial planning

Prime Financial Group has announced its FY24 results in what proved to be an “inflection point” for the firm, with further M&A activity and growth in the alternatives market ahead.

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Jasmine Siljic

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Pacific Current divestments drive cost savings for business

GQG-Partners/Pacific-Current-Group/divestment/M&A/

| By Laura Dew |

Funds management

Pacific Current noted FY24 was a “transformational year” as it made multiple divestments to create a lower cost structure for the business.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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‘Dislocation’ in investors’ understanding of private credit

private-credit/private-markets/Alternatives/

| By Laura Dew |

Funds management

With research houses raising concerns about the suitability of private credit funds for retail clients, a fund manager has acknowledged greater transparency is needed to protect investors who struggle to understand the risk.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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