Money Management crunches the numbers on ASIC’s data on Australian financial services licence approvals and how it compares over the last three years.
After seeing dwindling numbers of advisers and losing a Federal court case regarding an unpaid AFCA determination, NextGen Financial Group is to be wound up.
The planned acquisition of Diverger by Count will create the third-largest licensee in Australia, behind Insignia and AMP.
A Perth adviser who stole over $1 million from his clients has received a jail sentence in Perth District Court today, with the judge reprimanding his lack of remorse for the crime.
National Australia Bank has been ordered to pay $2.1 million by the Federal Court, the maximum penalty possible for a single breach of unconscionable conduct.
Count has made a significant acquisition of a wealth and financial planning licensee in a deal that will create a combined business with funds under administration and management of $29 billion.
Insignia is fast becoming the licensee to feel the biggest brunt of adviser departures, losing 24 this week and over 100 in the past calendar year, which is three times that of rival AMP, according to Wealth Data.
ASIC has shared how many Australian financial services licences were granted and rejected by the corporate regulator in the 2022-2023 financial year.
TelstraSuper, Aware Super, Australian Retirement Trust, HESTA, and UniSuper are some of the prominent super funds that have qualified as finalists this year.
Having joined the investment bank last July, former Treasurer Josh Frydenberg has been promoted to a senior role on the board of its Australian division.
