Staff numbers down and profitability up at advice firms

technology/Business-Health/profitability/

| By Rhea Nath |

With advice practices recording a slight uplift in profitability after years of decline, Business Health has outlined five key trends contributing to the change.

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technology

Business Health

profitability

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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Federal Court winds up unregistered MIS and disqualifies director

ASIC/managed-investment-scheme/

| By Rhea Nath |

Financial planning

An unlicensed financial adviser, Monica Kaur, has been permanently restrained from carrying on a financial business and her unregistered managed investment has wound up by the Federal Court.

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ASIC

managed investment scheme

AUTHOR

Rhea Nath

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AMP sells SuperConcepts business

SuperConcepts/SMSF/amp/

| By Laura Dew |

People & Products

AMP is selling its SuperConcepts self-managed superannuation fund admin and software business with 500 employees to transfer out of AMP.

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SuperConcepts

SMSF

amp

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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Intelliflo’s Eatock on bringing UK technology to the Aussie market

intelliflo/Nick-Eatock/Software/

| By Laura Dew |

Financial planning

Intelliflo chief executive, Nick Eatock, has discussed the firm’s official launch into the Australian market and why his experience in the UK means he is hopeful adviser numbers will bounce back.

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intelliflo

Nick Eatock

Software

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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Could advisers face their own greenwashing scrutiny?

ASIC/greenwashing/ESG/RIAA/

| By Rhea Nath |

Financial planning

EXCLUSIVE As clients increasingly seek sustainability-related products and funds, advisers who recommend them could eventually fall under the greenwashing purview of regulators, industry experts suggest.

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AUTHOR

Rhea Nath

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Former FSC CEO to chair fintech Ignition Advice

Sally-Loane/Ignition-Advice/chair/

| By Rhea Nath |

People & Products

A former chief executive of the Financial Services Council has been named as the next chair of Ignition Advice, succeeding Peter Meurer.

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Sally Loane

Ignition Advice

chair

AUTHOR

Rhea Nath

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Markets surprised by June rate call

RBA/Jim-Chalmers/interest-rates/inflation/central-banks/

| By Rhea Nath |

Funds management

The Reserve Bank of Australia defied hold expectations in June, surprising market participants by raising the interest rate further to 4.1 per cent in its continued battle against inflation.

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AUTHOR

Rhea Nath

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Advisory firms best able to weather fee pressures

advice-fees/fees/model-portfolios/

| By Laura Dew |

Financial planning

Advisory firms are the only part of the investment value chain to escape fee pressure over the last five years in the face of shrinking margins and rising costs, according to a global report by FNZ and Boston Consulting Group.

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advice fees

fees

model portfolios

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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RBA makes latest rate call

RBA/interest-rates/central-banks/Phil-Lowe/

| By Laura Dew |

Funds management

The RBA has made its latest interest rate call for June with the bank warning further rate hikes are still to come.

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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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Qld adviser banned for five years

financial-advisers/banning/

| By Laura Dew |

Financial planning

A Brisbane financial adviser has been banned by ASIC after recommending his clients roll their superannuation into SMSFs and borrow to invest in residential property.

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financial advisers

banning

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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