Magellan has looked to a rival fund manager to appoint a new head as replacement for David George, who left the firm last October, while reporting a 24 per cent rise in statutory NPAT.
Robo-adviser offerings and platforms are a source of significant focus for wealth management firms in 2024, according to KPMG, as well as how technology can improve the value and delivery of advice.
AMP chief executive Alexis George says 2023 saw advisers looking to join the business again after a difficult few years, as it takes the top spot as Australia’s largest licensee.
In a reversal of muted flows last year, January saw the highest inflows go to international equity ETFs, while the broader ETF market surpassed $180 billion in FUM.
Improving Australians’ financial literacy through advice is the best way to achieve greater demand for longevity risk products, according to the FAAA, rather than government intervention.
Global fund managers are no longer predicting a recession for the first time in almost two years, according to Bank of America, with bullish sentiment continuing to rise.
AMP has reported an underlying NPAT loss of $47 million in the full year 2023 for its advice division as it focuses on making advice a standalone business and announced a new chair for its board.
As concerns regarding cyber crime grow, a consultant has shared her doubts regarding whether self-licensed financial advice practices are prepared to mitigate the risks of adopting new advice technologies.
The director was pulled up last year over providing unlicensed financial product advice.
The Financial Services Council says the sophisticated investor test needs to be updated to protect consumers.
