ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm.
In its latest quarterly update, alternative asset manager MA Financial said it saw a 22 per cent increase in net inflows (ex institutional) to $444 million and is holding onto cash at historically high levels.
First Sentier Investors is the latest investment manager to enter the ETF space, enabling financial advisers and investors to access an existing geared fund via an ETF structure.
Despite industry criticisms, Financial Services Minister Stephen Jones believes the Labor government has moved the financial advice reform dial forward “significantly” during his term.
The Australian Institute of Company Directors has shared which issues are keeping financial services directors up at night, and how they compare to the sentiment of directors more broadly.
ASIC is seeking to publish firm-level data on the reportable situations and internal dispute resolution regime, in hopes that advice licensees will “lift their game”.
The Federal Court has appointed liquidators to wind up Falcon Capital and the First Guardian Master Fund, following an ASIC application.
One of Australia’s largest ETF products lost over $300 million in outflows during March as international equity ETFs suffered steep declines in flows.
Australian Ethical Investment has welcomed an independent non-executive director to its board, who previously spent a decade as Colonial First State’s CEO.
Financial Services Minister, Stephen Jones, has assured the cost and time to enter the financial advice profession will soon be halved, as shadow treasurer Angus Taylor pledges to reach 30,000 advisers.
