Sequoia leads adviser growth for October

Sequoia/Wealth-Data/adviser-numbers/

| By Jasmine Siljic |

Sequoia Financial Group has welcomed an additional five financial advisers to its ranks, reporting positive adviser growth in three out of four weeks this month, according to Wealth Data.

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Sequoia

Wealth Data

adviser numbers

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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Former Ord Minnett adviser embroiled in client solicitation dispute

ord-minnett/legal/federal-court/

| By Laura Dew |

Financial planning

A former Ord Minnett financial adviser, who is being sued by the firm, has been temporarily banned from contacting her former clients after it was found 17 clients moved over to her new employer.

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ord minnett

legal

federal court

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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Dixon Advisory’s $7.2m penalty unlikely to ever be paid: ASIC

Dixon-Advisory/dass/ASIC/Sarah-Court/

| By Jasmine Siljic |

Financial planning

Appearing at Senate estimates, ASIC deputy chair Sarah Court has claimed the $7.2 million penalty issued to Dixon Advisory was made to send a “deterrent message” as the fine is unlikely to ever be paid.

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AUTHOR

Jasmine Siljic

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Winners of the 10th Super Fund of the Year Awards revealed

super-funds/awards/super-fund-of-the-year/

| By Malavika |

People & Products

There were over 20 winners at the 2023 Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award.

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super funds

awards

super fund of the year

AUTHOR

Malavika Santhebennur

Malavika Santhebennur was a news and features financial services journalist at Money Management, part of Financial Express. She has previously written in various industrial publications at Cirrus Media, including mining, food, franchising, and health.

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What’s next for Magellan after George’s departure?

Magellan/David-George/Andrew-Formica/Hamish-Douglass/

| By Laura Dew |

Funds management

The departure of CEO and MD David George is yet another turbulent move for Magellan, coming just weeks after the company celebrated completing its board renewal process.

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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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Magellan CEO David George to immediately depart

Magellan/David-George/Andrew-Formica/Hamish-Douglass/

| By Staff |

People & Products

Magellan Financial Group’s CEO and managing director, David George, has stepped down from the asset manager, effective today, after just over a year in the role.

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AUTHOR

Inappropriate advice complaints to AFCA jump 589%

AFCA/financial-advice/inappropriate-advice/complaints/

| By Laura Dew |

Financial planning

Two investment firms have made up almost half of investment and advice complaints as AFCA reports a rise of 589 per cent in complaints about inappropriate advice during FY2022–23.

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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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HUB24 names new chair as Higgins retires

HUB24/platforms/boards/chair/

| By Laura Dew |

People & Products

HUB24 chair and non-executive director, Bruce Higgins, is to step down from the board after 11 years and the platform has named his replacement.

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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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WT Financial optimistic of advice demand as NPAT doubles

| By Laura Dew |

Financial planning

WT Financial believes the “supply-demand equation” is weighted firmly in favour of advisers as it reports its net profit after tax more than doubled in FY2022–23.

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 expat advisers be able to cure the industry shortage?

Tribeca-Financial/migration/financial-advice/

| By Laura Dew |

Financial planning

With financial advisers on the government’s skills shortage list this year, could an influx of advisers coming from overseas help to bolster these numbers and how difficult is the transition?

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Tribeca Financial

migration

financial advice

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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Sequoia leads adviser growth for October

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Jasmine 's social profiles:

Former Ord Minnett adviser embroiled in client solicitation dispute

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Dixon Advisory’s $7.2m penalty unlikely to ever be paid: ASIC

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Winners of the 10th Super Fund of the Year Awards revealed

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What’s next for Magellan after George’s departure?

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Laura 's social profiles:

Magellan CEO David George to immediately depart

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Inappropriate advice complaints to AFCA jump 589%

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Laura 's social profiles:

HUB24 names new chair as Higgins retires

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WT Financial optimistic of advice demand as NPAT doubles

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