Centrepoint Alliance has announced a net profit after tax of $6.3 million as it forecasts a strong recruitment pipeline of over 360 financial advisers looking to join the licensee.
The firm has announced revenue growth of almost 30 per cent to $33.7 million in its annual results and will be seeking to reach $100 million by 2030, doubling its previous target.
ASIC has commenced “urgent proceedings” in the Federal Court of a former Sydney financial adviser amid an investigation regarding fees charged to client super funds.
HUB24 is targeting platform funds under administration of up to $100 billion by FY25 as it looks to build the ‘platform of tomorrow’.
Amidst concerns that video SOAs or a shorter advice document could replace paraplanners, this industry professional sees it as an opportunity for them to upskill.
Magellan chief executive, David George, has sent a message to advisers that they are a key client base for the firm while discussing how M&A could help to reach its $100 billion FUM target.
The firm has entered an agreement with SS&C to divest its managed funds administration business for $52 million with the deal expected to close in Q3 FY23 as it details its half-year results.
The statistical agency has officially recognised the financial advice profession by using the occupational terms 'financial adviser/financial planner' as a result of the FAAA advocacy.
Net profit after tax at Magellan has declined by 52 per cent as it releases its FY22-23 results, its first in a five-year transformation strategy, and makes several people moves.
There are 300 more micro-AFSLs this year than in 2019, but the majority of advisers still work at large licensees with more than 100 advisers.
