Licensee switching by advisers has led Praemium to report $334 million in net outflows in the December quarter on its ultra-high net worth platform Powerwrap with the rate expected to continue for the next nine months.
Adviser numbers are off to a good start for 2024 with double-digit gains for the first two weeks of the year, according to Wealth Data.
The transitional board of the Compensation Scheme of Last Resort has appointed former UniSuper chief executive Kevin O’Sullivan, as a former AFCA director steps down.
Advisers could find themselves facing a larger bill this year if they receive an investments and advice complaint as AFCA updates its monetary rules and compensation cap for complaints.
Research house Zenith Investment Partners has appointed a managed accounts expert from Colonial First State to a newly created product role.
Betashares has shared which funds and asset class saw the highest volume of ETF inflows in 2023 as it forecasts funds under management could reach $220 billion this year.
A transition of Insignia Financial’s private label to HUB24 has helped the firm’s quarterly platform inflows and number of advisers using the platform.
Two fund managers have identified artificial intelligence and machine learning as trends they are embracing for 2024 which could greatly reward the market leaders.
Hundreds of AFSLs with retail authorisation must now report internal dispute resolution to ASIC by 29 February as the final tranche of the regime’s implementation kicks in, even if they have faced no action.
The excessive levels of cash held in money market funds is poised to fuel a significant rally in risk assets this year, according to Principal Asset Management, but it will take until the second half of the year to kick in.
