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.
There is a role for advisers to play in helping pre-retirees understand lifetime income solutions as clients say they lack comprehension of the products’ structure.
A former Brisbane financial adviser has been found guilty of 28 counts of fraud where his clients lost $5.9 million.
The migration of the MLC platform to Expand caused disruption in platform flows for Insignia in FY24 as advisers “lost patience” with delays, while the firm flagged its reasoning behind the lack of dividend.
The majority of financial advice practices enjoying revenue growth are putting this towards growing their adviser teams, according to new research.
A wide range of strategic priorities are set to fall under the corporate regulator’s enforcement spotlight in the next 12 months, including the risk management and data security of AFSLs.
ClearView has said it expects to completely exit wealth management by the third quarter of FY25.
Centrepoint Alliance is optimistic of benefitting from licensee switching to grow organically and is set to boost funds under advice via a new investment platform in October.
Insignia reports a $185 million statutory net loss after tax in FY24 but sees revenue improve in its newly restructured advice division, thanks to higher value clients.
Financial advice practices with high profit margins charge annual client fees of $7,700 and keep their operational costs low, says Investment Trends’ Irene Guiamatsia.
