How much did Melissa Caddick’s enforcement action cost the advice sector?

Melissa-Caddick/fraud/Ponzi-scheme/ASIC/enforcement/

| By Laura Dew |

The actions of Sydney fraudster Melissa Caddick have resulted in heavy costs for the financial advice subsector, as the FAAA calls for costs of the enforcement action against unlicensed operators to be borne by the whole financial services industry.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Victorian advice firm rebrands with new operating model

AFSL/financial-advice/rebrand/Victoria/

| By Jasmine Siljic |

Financial planning

Dirigere Advisory, a Victorian boutique financial advice licensee, has relaunched with a new operating model that aims to better meet the needs of its advisers, including equity participation and improved pricing model.

AUTHOR

Jasmine Siljic

Jasmine Siljic is a journalist at Money Management. Prior to joining MM, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.

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Sustainable funds in ANZ region buck first global outflows

ASIC/ESG/morningstar/sustainable-investing/

| By Laura Dew |

Funds management

Sustainable funds in Australia and New Zealand saw US$567 million in inflows in the last quarter, according to Morningstar, but political concerns in the US meant global funds recorded their first-ever quarterly outflows.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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JPMAM signs MOU with NZ investment advisory firm

JPMAM/New-Zealand/investment-management/

| By Laura Dew |

Funds management

JP Morgan Asset Management has announced a strategic partnership with wealth investment firm Craigs Investment Partners.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Netwealth sees boost as ‘elevated outflows’ moderate

netwealth/matt-heine/outflows/inflow/

| By Laura Dew |

Financial planning

Initiatives taken by Netwealth to stem outflows earlier in the year have helped the firm in the last quarter as December saw its highest inflows in 10 months.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Is self-licensing right for your business?

AFSL/licensees/compliance/Wealth-Data/self-licensed/

| By Laura Dew |

Financial planning

There may be a trend for advisers opting to set up their own licence, but those contemplating the change have been warned it is not necessarily the right path for every adviser.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Perpetual reflects on $4.3bn outflows in ‘difficult quarter’

Perpetual/JOHCM/Pendal-Group/asset-management/Rob-Adams/

| By Laura Dew |

Funds management

Perpetual saw $4.3 billion in outflows from its asset management division in the last quarter to 31 December, but market movement meant overall AUM increased.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Future Fund chair appointed to replace Costello

Future-Fund/peter-costello/greg-combet/

| By Rhea Nath |

People & Products

The $211 billion Future Fund has appointed a new chair to replace Peter Costello, who will step down next month after 14 years.

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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Equity markets in for robust upswing: Tribeca

Tribeca-Investment-Partners/jun-bei-liu/australian-equities/

| By Rhea Nath |

Funds management

Tribeca portfolio manager, Jun Bei Liu, remains optimistic amid forecasts of a soft landing and has outlined three sectors to be potential winners in the year ahead.

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Rhea Nath

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GBST appoints APAC head from SS&C

GBST/fintech/platforms/Robert-Dedominicis/

| By Laura Dew |

People & Products

Wealth management and advice technology firm GBST has appointed a head of Asia Pacific, joining from SS&C Technologies.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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