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.
The boutique asset manager has appointed a former acting chief executive of Challenger Funds Management to its board as a non-executive director.
Challenger’s Funds Management business benefitted from strong net flows of $5.6 billion on the back of a
ASIC has permanently banned a Perth financial adviser following his convictions of fraud.
Large licensees are looking to take minority stakes in smaller ones as a way to retain a presence in the industry, but the smaller party needs to ensure it doesn’t create a conflict of interest.
Colonial First State has launched CFS 10x, a program designed to help financial advice practices grow their business.
Fiducian has reported a 23 per cent rise in net profit after tax in the last six months of 2023, but non fee-paying clients led to a fall in funds under advice.
