Licensees commencing faster than closures as micro-AFSLs flourish

Wealth-Data/licensees/adviser-number/Principals’-Community/

| By Jasmine Siljic |

Advice licensees are opening faster than they are closing, and licensee owners with less than 20 advisers have grown by over 200 since the start of the year, new figures from Wealth Data show.

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Wealth Data

licensees

adviser number

Principals’ Community

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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Insignia’s Mota to depart after 20 years

Renato-Moto/insignia-financial/insignia/

| By Laura Dew |

People & Products

Insignia Financial chief executive, Renato Mota, has announced he will step down from the company after 20 years with the business.

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Renato Moto

insignia financial

insignia

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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Changes ahead for AFSLs’ breach reporting

ASIC/ASFL/breach-reporting/

| By Laura Dew |

Financial planning

ASIC has updated its reportable situations regime to remove the need for licensees to submit breach notifications for certain misleading or deceptive conduct breaches.

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ASIC

ASFL

breach reporting

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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Will new players enter the platform market?

platforms/netwealth/HUB24/Recep-Peker/matt-heine/Andrew-Alcock/

| By Laura Dew |

Financial planning

After a period of consolidation, platform experts are considering whether the market will now see the beginning of new entrants joining the space.

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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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Insurance lapses on the rise as risk advisers decline

Life/Risk/risk-advice/insurance/KPMG/Deloitte/Adviser-Ratings/

| By Laura Dew |

Life/Risk

The declining volume of risk advisers meant KPMG has found a rising lapse rate for insurance policies arranged by independent financial advisers, particularly in the TPD and death cover space.

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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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FAAA board welcomes new members

board/David-Sharpe/financial-advisers/

| By Rhea Nath |

People & Products

The Financial Advice Association of Australia has appointed two Sydney-based advisers and one Gold Coast-based adviser to its board, effective 20 November 2023.

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board

David Sharpe

financial advisers

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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AMP sees 43% decline in Q3 net platform cashflow

amp/platforms/North/cashflow/

| By Laura Dew |

Financial planning

A strategic focus on advisers has seen inflows from financial advisers to AMP’s North platform increase by 17 per cent in Q3 but total platform net cashflow has declined by 43 per cent.

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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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Advisers ‘in the box seat’ of upcoming wealth transfer: Fidelity

fidelity/wealth-transfer/intergenerational-wealth/MYMAVINS/

| By Rhea Nath |

Financial planning

Seeking to help their loved ones achieve greater financial security through an inheritance, Australians are increasingly looking to advisers for estate planning and engaging the next generation, according to research.

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fidelity

wealth transfer

intergenerational wealth

MYMAVINS

AUTHOR

Rhea Nath

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HUB24 unveils solution to target lower balance clients

HUB24/platforms/Andrew-Alcock/

| By Laura Dew |

Financial planning

HUB24 has unveiled a new solution, which will be available from November, to allow the platform to meet the needs of its lower balance advised clients.

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HUB24

platforms

Andrew Alcock

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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AZ NGA CEO on the ripe M&A landscape for financial advice

AZ-NGA/merger/M&A/paraplanning/

| By Jasmine Siljic |

Financial planning

Speaking to Money Management, AZ Next Generation Advisory’s chief executive Paul Barrett has outlined the firm’s plans to quadruple its size to become Australia’s leading professional services company, having already completed 14 M&A transactions this year.

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AUTHOR

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Licensees commencing faster than closures as micro-AFSLs flourish

AUTHOR

Jasmine Siljic

Jasmine 's social profiles:

Insignia’s Mota to depart after 20 years

AUTHOR

Laura Dew

Laura 's social profiles:

Changes ahead for AFSLs’ breach reporting

AUTHOR

Laura Dew

Laura 's social profiles:

Will new players enter the platform market?

AUTHOR

Laura Dew

Laura 's social profiles:

Insurance lapses on the rise as risk advisers decline

AUTHOR

Laura Dew

Laura 's social profiles:

FAAA board welcomes new members

AUTHOR

Rhea Nath

Rhea 's social profiles:

AMP sees 43% decline in Q3 net platform cashflow

AUTHOR

Laura Dew

Laura 's social profiles:

Advisers ‘in the box seat’ of upcoming wealth transfer: Fidelity

AUTHOR

Rhea Nath

Rhea 's social profiles:

HUB24 unveils solution to target lower balance clients

AUTHOR

Laura Dew

Laura 's social profiles:

AZ NGA CEO on the ripe M&A landscape for financial advice

AUTHOR

Jasmine Siljic

Jasmine 's social profiles:

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