Alternative asset manager Longreach Alternatives is launching a specialised distribution and advisory unit to meet the rising demand for alternative investment strategies.
Insignia Financial has appointed a general manager for brand strategy as it moves to invest heavily in the MLC brand.
Money Management examines the funds under administration growth of three listed Australian platforms for FY24, with two players both achieving a 30 per cent rise.
A former Brisbane financial adviser has been sentenced after being found guilty of a $5.9 million fraud, with the judge describing his actions as “brazen, gross and callous”.
The exit of “smaller non-economic advisers” has improved net margin at Sequoia, while the divestment of Morrison Securities boosted its statutory net profit after tax for FY24.
The wealth management platform has released its FY24 results and is planning to capture platform migration occurring among financial advisers to drive future growth.
Two former United Global Capital advisers, which entered into liquidation earlier this month, have commenced at a new licensee, while overall adviser numbers have fallen back into the negative.
Regal Partners CEO Brendan O’Connor says the firm is “match-fit” for future acquisitions as the firm reports a net profit after tax increase of 349 per cent in 1H24.
Acting Pacific Current chief executive Michael Clarke has shot down claims that the firm is on a wind-up path after multiple divestments but says there will likely be further actions to come.
State Street Global Advisors has taken a 5 per cent strategic stake in Raiz Invest, deepening its existing relationship with the Australian fintech platform.
