ASIC is suing advice business Fortnum Private Wealth, a subsidiary of Australia’s largest licensee Entireti, for alleged cyber security failures which led to client data being published on the dark web.
Just one day after announcing it was awaiting a final bid from CC Capital, the two firms have entered a scheme of arrangement, albeit at a lower price than initially bid.
AMP’s platform has seen net cash flow increase 63 per cent in Q2, while its superannuation and investment division returned to positive cash flow for the first time since 2017.
Centrepoint Alliance, the third-largest advice licensee, is forecasting to report a net revenue increase of 13 per cent for FY25, while adviser numbers have reached more than 570.
ASIC is conducting further surveillance on numerous private credit funds and their compliance measures as part of its broader review into the space.
With a distribution partnership agreed in May, Bennelong Funds Management has announced it will offer the Allspring Global Income Fund to Australian investors.
Investment information firm Equity Story has completed its acquisition of South Australian financial advisory and stockbroker Baker Young, propelling the firm’s full-service offering.
Prime Value Asset Management is a multi-award winning, boutique Australian investment manager with an impressive history of building wealth with investors since 1998.
With US$1.5 trillion in private credit expected to be held by wealthy clients by 2029, a report has explored the best ways asset managers can take advantage of this trend and meet demand in the advisory market.
