As the 2023–24 financial year comes to a close, Money Management reviews the financial advisers who fell under the regulator’s enforcement spotlight.
Adviser Ratings’ latest report has unearthed which two Australian states are servicing the highest number of clients and enjoying the largest funds under advice.
Financial software provider Bravura has extended the term of its chief commercial officer as it seeks to finalise work on its transformation program.
Chartered Accountants Australia and New Zealand has appointed a financial advice leader who joins following 20 years at CPA Australia.
Licensee Infocus Wealth Management has announced it has completed the acquisition of Madison Financial Group, increasing its adviser number to more than 200.
As the financial year comes to a close, ASIC has suspended the AFSL of a Melbourne financial services firm following an investigation by the regulator.
ASIC has cancelled the AFS licence of a Victorian fund manager and banned its managing director for four years after discovering “significant and systemic failures of oversight and compliance” which led to investor losses.
Financial adviser losses this week are 10 times higher than those of the previous week, as many look to switch licensees before the end of the financial year.
Some 41 per cent of financial advisers say they have no conflicts of interest in their business, according to Holley Nethercote, indicating a fundamental lack of understanding of the regime.
The Responsible Investment Association Australasia has announced an upcoming adviser-focused course to launch next month about ESG integration in advice firms.
