There has been a 16.3 per cent rise in the wealth of Australian billionaires this year to over $200 billion, UBS finds, as Australian advisers shift their offerings to meet this expansion and service their unique needs.

An independent expert has ruled the Perpetual deal with KKR is no longer in the best interest of shareholders in light of the increased tax liabilities.

AZ NGA is looking to triple in size over the next five years as US investment giant Oaktree completes its $240 million investment in the professional services company.

E&P Financial Group has announced director Tony Johnson will move into a non-executive capacity next year, meaning chief executive Ben Keeble will be the only executive remaining on the board.

Firetrail Investments has confirmed the departure of four executives over the last quarter, including head of investment strategy Anthony Doyle.

The Australian wealth management firm has named a custodian for its MLC and OnePath businesses following an extensive tender process.

Experts believe rival licensee AMP and technology software firms could be next on the list for private equity firms looking to enter the Australian market.

Global real asset manager CapitaLand Investment has announced a key acquisition from Wingate as part of its growth strategy in Australia.

ASIC has announced its finalised industry funding levy, detailing how much licensees will have to pay for the 2023–24 financial year and how it compares to original estimates.

A legal expert has flagged there is growing tension in the industry as ASIC considers naming licensees in its breach reports, with such a move potentially deterring proactive self-reporting.