Clime suffers $3.8m loss post-Madison divestment

Clime-Investment-Management/Clime/Madison/Madison-Financial-Group/

| By Jasmine Siljic |

Clime Investment Management has reported a statutory loss of $3.8 million for FY24 following a “challenging period” for the firm, however is on a “clear path to recovery” following the Madison sale.

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Clime Investment Management

Clime

Madison

Madison Financial Group

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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Count sees 104% FUA growth in ‘transformative’ FY24

Count-Financial/Hugh-Humphrey/financial-advice/

| By Keith Ford |

Financial planning

The licensee has become the second-largest wealth management advice firm in Australia, with its funds under advice hitting $34.2 billion in FY24.

AUTHOR

Keith Ford

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APRA’s latest test reveals positive trends in super

APRA/performance-test/FSC/

| By Rhea Nath |

Superannuation

While all MySuper products successfully passed the latest performance test, trustee-directed products encountered difficulties.

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APRA

performance test

FSC

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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New adviser retention makes positive recovery

new-entrants/Wealth-Data/retention/financial-advisers/

| By Jasmine Siljic |

Financial planning

The number of new entrants in the financial advice profession who have since departed this year has seen an improvement from the amount that left in 2023.

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AUTHOR

Jasmine Siljic

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Advisers report alleged ‘bullying’ by product providers

Sarah-Abood/David-Sharpe/financial-advisers/

| By Jasmine Siljic |

Financial planning

The Financial Advice Association Australia has addressed “pretty disturbing” instances where its financial adviser members have allegedly experienced “bullying” by product providers.

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Sarah Abood

David Sharpe

financial advisers

AUTHOR

Jasmine Siljic

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Dixon Advisory issues ‘resolved’, says E&P

CSLR/financial-advice/E&P-Financial-Group/Dixon-Advisory/

| By Keith Ford |

Financial planning

E&P Financial Group says outstanding legacy issues related to the Dixon Advisory collapse have been resolved, passing the buck for its compensation onto financial advisers via the CSLR.

AUTHOR

Keith Ford

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Australian Ethical NPAT rises 80%, appoints former Pendal CEO

Australian-Ethical/Pendal-Group/responsible-investment/

| By Jasmine Siljic |

Funds management

Australian Ethical has reported 80 per cent growth in its FY24 statutory net profit after tax, with its board set to welcome Pendal’s former CEO next month.

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Australian Ethical

Pendal Group

responsible investment

AUTHOR

Jasmine Siljic

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Perpetual reports $472m loss, chair D’Aloisio to retire

Perpetual/asset-management/

| By Laura Dew |

Funds management

Perpetual has reported a statutory loss of $472 million for FY24 after experiencing heavy asset management outflows, while chairman Tony D’Aloisio is to retire from the board after eight years.

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Perpetual

asset management

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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Platinum unveils insto partnerships to boost growth

Platinum/institutional-investors/

| By Laura Dew |

Funds management

Platinum has announced it will partner with global institutional managers to help boost their retail presence as part of its new growth strategy, as well as reporting a 44 per cent NPAT drop.

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Platinum

institutional investors

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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Sequoia’s Crole expectant of higher income from new advisers

Sequoia/Sequoia-financial-group/licensees/income/financial-advisers/Garry-Crole/

| By Laura Dew |

Financial planning

Expected income from advisers who joined Sequoia in FY24 is three times higher than those who departed, while the shareholder dispute has caused a “positive shake-up” in the business.

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Sequoia

Sequoia financial group

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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Count sees 104% FUA growth in ‘transformative’ FY24

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Advisers report alleged ‘bullying’ by product providers

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Dixon Advisory issues ‘resolved’, says E&P

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Australian Ethical NPAT rises 80%, appoints former Pendal CEO

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Perpetual reports $472m loss, chair D’Aloisio to retire

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Platinum unveils insto partnerships to boost growth

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Sequoia’s Crole expectant of higher income from new advisers

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