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Iress projects ‘significant’ increase in 1H24 EBITDA

iress/OneVue/praemium/fintech/

Iress is expecting a 50 per cent EBITDA rise for the first half of the 2024 calendar year compared to the prior corresponding period, as it enters the final stages of its transformation program.

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Melbourne-based adviser restrained from travel amid ASIC investigation

ASIC/travel/Supreme-Court/

ASIC has secured travel restraint orders against a financial adviser while he is the subject of an investigation into alleged financial misconduct.

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Fund managers turn pessimistic on global growth

Bank-of-America/Funds-management/economic-growth/

Macroeconomic concerns and the upcoming US election have caused fund managers to turn pessimistic on global economic growth, according to Bank of America.

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MLC AM awards $285m mandate to Janus Henderson

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Janus Henderson has been awarded a $285 million mandate from MLC Asset Management to manage emerging market equities.

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Nuveen appoints equities and fixed income head

Nuveen/Funds-management/equities/fixed-income/

Asset manager Nuveen has promoted Saira Malik, who has worked at the firm for more than 20 years, as head of equities and fixed income.

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Insignia ups legacy advice remediation in Q4 update

insignia-financial/Scott-Hartley/remediation/OnePath/Superannuation/

Insignia has announced it has completed the separation of Rhombus Advisory but flagged it needs to increase its remediation provision by an estimated $135 million relating to legacy advice and product compliance issues.

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‘Cashed up and confident’: Financial services M&A fiercely competitive

M&A/mergers-and-acquisitions/merger/Deloitte/PwC/

Mergers and acquisitions in the Australian financial services industry are expected to continue surging, with M&A leaders looking to double the number of deals they are pursuing.

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The pretty penny of self-licensing

self-licensing/self-licensed/Colin-Williams/iress/licensees/

With the self-licensing trend here to stay, what are the estimated costs and insurance risks for financial advisers operating their own AFSL without the backing of a larger licensee?

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‘Asset rich, cash poor’ retirees sitting on $1.3tn in property

andrew-boal/retirement/inheritance-planning/retirement-planning/Deloitte/pre-retirees/property/

Deloitte’s Andrew Boal believes there is a role for financial advisers to help clients understand longevity literacy as retirees find themselves “asset rich, cash poor”, thanks to rising property values.

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Regal to acquire minority stake in specialist manager

Regal-Partners-Limited/regal/funds-management/M&A/

Regal Partners has announced its latest acquisition, taking a minority stake in a $1.4 billion specialist asset manager.

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