Global X targets $20bn AUM by 2027
ETF provider Global X has surpassed $10 billion in assets under management and is now targeting to double this figure by 2027.
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FSCP raps adviser over ‘extraordinary fees’ for inappropriate advice
The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to switch their superannuation into a poorly performing product.
Perennial Partners takes majority stake in responsible manager
Perennial Partners has acquired a majority stake in Melior Investment Management which will see it take over management of the Melior Australian Impact Fund.
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.
The business model set to drive EOFY losses
With adviser losses set to continue, Wealth Data founder Colin Williams has detailed which business model is likely to drive the exodus.
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.
Betashares eyes private markets arena
Betashares is preparing to enter the private asset space, with the ETF provider set to unveil plans to roll out a suite of unlisted funds starting with a US private credit offering.
1 in 10 Aussies are millionaires as median wealth soars: UBS
Australians have the second-highest median wealth in the world, beaten only by Luxembourg, as those in the middle bands are experiencing pronounced wealth growth, UBS has said.
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.
Advisers demand more guidance from BDMs amid evolving business models
Traditional relationships between advisers and business development managers are evolving, with the expectations for them to provide meaningful guidance to the advice practice.
AUTHOR
Shy-Ann Arkinstall
BlackRock model portfolios take profits on Aussie equities
BlackRock has opted to reduce exposure to Australian equities in its model portfolios, taking profits after strong ASX performance year-to-date.
Padua expands technical team with CFS hire
Padua Solutions has poached an individual from Colonial First State to take on a newly created role focused on overseeing its technical capabilities.
AUTHOR
Shy-Ann Arkinstall
Adviser losses quadruple, signalling heavy EOFY losses ahead
Adviser losses this week are quadruple the same period a year ago, with the industry falling into negative territory for the last 12 months.
AUTHOR
Shy-Ann Arkinstall
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