Now is a difficult time to be a fund manager, according to Maple-Brown Abbott chief executive, Sophia Rahmani, with the firm focusing on distribution to financial advisers to boost growth.
WT Financial is expecting to see a 130 per cent increase in net profit after tax, as it releases indicative results for FY22–23, and CEO Keith Cullen believes the outlook for financial advice has “never been stronger”.
Noting that some QAR recommendations make it “less legally onerous” for banks to provide advice, the industry association said it suspects a lingering interest from these institutions to return to wealth management.
OP-ED With Magellan CEO David George hinting at possible acquisitions, the appointment of Andrew Formica, who pursued an aggressive M&A strategy for Henderson as its former CEO, is an interesting move.
The licensee has lost 92 advisers since the start of the calendar year, according to Wealth Data, including 12 in the past week.
Following its initial announcement in the October 2022‑23 Budget, the Government is now seeking feedback on the appropriateness of the existing regulatory settings for managed investment schemes.
ASIC has commenced civil penalty proceedings in the Federal Court against a director of Dixon Advisory and Superannuation Services for alleged breaches of directors’ duties.
Australian Retirement Trust is actively recruiting financial planning graduates to provide intra-fund advice and believes super funds can be a great starting point towards delivering comprehensive advice in the future.
Almost three years after being arrested, a director has pleaded guilty to encouraging investors to roll over their superannuation in SMSFs and lend that money to his two companies.
Reflecting on GFM Wealth Advisory’s gold anniversary this year, managing partner Paul Nicol shares his insights on what it takes to be a trusted business serving clients since the 1970s.
