ASIC has suspended the Australian financial services licence of a Melbourne fund management firm.
ASIC has banned a financial services director for 10 years and cancelled the AFSL of his company for his “cavalier attitude” to financial services laws, including inappropriate advice and failing to act in clients’ best interests.
Shadow minister for financial services, Luke Howarth, has reassured the industry that the Coalition “won’t go back to the drawing board” when it comes to implementing the Delivering Better Financial Outcomes reforms if elected next year.
Concerns have been raised about “fly by night” private credit managers and why advisers should be wary when it comes to their fund selection.
Financial advisers are finding they are able to increase profits at their practices with fewer clients, according to Investment Trends, allowing them to focus their attention on a smaller client base.
The Sydney-based financial advice practice has appointed two new partners to meet rising client demand, particularly driven by the influx of intergenerational wealth transfer clients.
Following changes to a Schroders sustainable fund, JPMAM has announced it will close two of its sustainable strategies.
Colonial First State has announced a five-year agreement with Microsoft to underpin the firm’s use of cloud and artificial intelligence technology in wealth management.
A C-suite executive, who was one of the first employees, will be departing from asset manager Pengana Capital Group after 22 years with the company.
An appeal by convicted fraudster Dr Roger Munro has been dismissed by the Queensland Court of Appeal.
