Clime to divest Madison in $2m sale

Clime/Annick-Donat/InFocus/AFSL/licensees/

Clime has entered into a heads of agreement to divest Madison Financial Group to a rival licensee for $2 million.

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Clients forecast shunning advisers in favour of tech by 2030

technology/lseg/EY/client-relationships/

Almost half of advised investors expect technology to become so advanced that they will no longer use a financial adviser by 2030, according to a global report by LSEG.

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Advice industry sees 1 ban each month in FY24

ASIC/banning/financial-advice/insurance-advice/

There has been 11 financial advice-related bannings by ASIC since the start of the FY2023–24 financial year, equating to one every month.

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Investor or investment management: Which do clients value most?

morningstar/client-relationships/financial-advisers/

The role of a financial adviser is becoming more about investor management than investment management, according to Morningstar, with a greater emphasis placed by clients on soft skills.

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Alternative manager to establish $5bn private credit platform

private-credit/macquarie/acquisition/

Alternative asset manager HMC Capital has announced it will acquire private real estate debt manager Payton Capital in a bid to establish a $5 billion private credit platform.

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How to ensure a successful onboarding post-M&A activity

M&A/mergers-and-acquisitions/hiring/

With more and more licensees looking at M&A activity, Business Health has shared 10 suggestions to ensure a successful onboarding process as the two firms come together.

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Former Millennium3 CEO to lead AZ NGA subsidiary

australian-unity/AZ-NGA/insignia/millennium3/

AZ NGA subsidiary Nestworth, which recently acquired the financial advice business of Australian Unity, has appointed a former senior Insignia executive as CEO.

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Genium makes third research appointment from Morningstar

fund-ratings/research-houses/

Research house Genium Investment Partners has made a third appointment from Morningstar in less than a year to work in its newly launched research ratings division.

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Will adviser numbers see greater stability in 2024?

amp/Wealth-Data/Colin-Williams/financial-advisers/

As YTD financial adviser growth approaches parity with 2023, Wealth Data’s Colin Williams is optimistic that adviser losses will be less severe in 2024 due to increasing steadiness in the profession.

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Work/life balance a key attraction in employee retention

recruitment/Robert-Half/remuneration/hiring/employment/

Employers should not panic if remuneration budgets are too stretched to offer salary bumps, according to two recruiters, as staff say they are also attracted to a greater work/life balance when accepting a promotion.

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