The biggest funds management news of FY25

fund-management/EOFY/outflows/appointments/

From multiple fund launches and personnel changes to major outflows and a scrapped deal, Money Management has collated the most significant news in the funds management industry over the past 12 months.

AUTHOR

Adviser permanently banned for misuse of client funds

ASIC/court/financial-advice/

ASIC has permanently banned a financial adviser after he allegedly concealed information from clients and misused client funds, among other breaches.

Read more about:

AUTHOR

The 2 fund managers seeing 40% share price growth

fund-managers/morningstar/share-price/

Two active fund managers have outshone rivals to report double-digit share price growth of more than 40 per cent for FY25, but another has lost more than 50 per cent.

Read more about:

AUTHOR

BlackRock flags US$190bn private solutions platform launch

blackrock/private-markets/M&A/

BlackRock has successfully completed its acquisition of global credit investment manager HPS Investment Partners, with the intention now to create a US$190 billion private financing solutions platform.

AUTHOR

The ‘biggest monkey’ WhatsApp texts that led to Fuoco’s conviction

ASIC/court/financial-advice/sentence/

Disgraced adviser Joshua Fuoco described himself as the “biggest monkey” at AFSL Group and provided financial advice via WhatsApp, all while being banned for 10 years, court documents show.

Read more about:

AUTHOR

CSLR revises down adviser levy

CSLR/levy/compensation-scheme-of-last-resort/

The Compensation Scheme of Last Resort has released the FY26 revised levy estimate, but the FAAA is concerned costs will be pushed into the following year.

AUTHOR

Australian Wealth Management Awards reveal finalists for 2025

wealth-management/financial-advice/private-wealth/

The finalists for the 2025 Australian Wealth Management Awards have been revealed, shining a spotlight on the top performers and rising stars across the nation’s wealth sector.

Read more about:

AUTHOR

Magellan approaches $40bn, but performance fees decline

Magellan/FUM/outflows/

Magellan has closed out the financial year with funds under management approaching $40 billion and outlined its estimated performance fees.

Read more about:

AUTHOR

Former Iress CEO steps up as advice firm chair

appointment/iress/advisory-firms/ceo/

Former Iress chief executive, Andrew Walsh, has been promoted to chair of a boutique Sydney advisory firm, having stepped down from the same position at Mason Stevens.

AUTHOR

ASIC releases latest exam results

ASIC/exam/financial-advice-exam/

Results are out for the latest sitting of the ASIC financial advice exam, with the pass rate falling for the second consecutive sitting.

Read more about:

AUTHOR

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 1 week ago

The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call....

1 day 22 hours ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

2 weeks 2 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 weeks 5 days ago