Magellan chief executive, David George, has sent a message to advisers that they are a key client base for the firm while discussing how M&A could help to reach its $100 billion FUM target.
The firm has entered an agreement with SS&C to divest its managed funds administration business for $52 million with the deal expected to close in Q3 FY23 as it details its half-year results.
The statistical agency has officially recognised the financial advice profession by using the occupational terms 'financial adviser/financial planner' as a result of the FAAA advocacy.
Net profit after tax at Magellan has declined by 52 per cent as it releases its FY22-23 results, its first in a five-year transformation strategy, and makes several people moves.
There are 300 more micro-AFSLs this year than in 2019, but the majority of advisers still work at large licensees with more than 100 advisers.
The optimism behind this disruptive technology has driven markets to record highs, but experts warn there are ESG risks and considerations that can be overlooked.
The regulator failed to overturn a Federal Court finding that the Commonwealth Bank of Australia and Colonial First State did not receive “conflicted remuneration” benefits under a superannuation agreement.
Momentum Media is proud to launch its inaugural Women in Finance Summit, aimed at supporting and connecting leading female business owners in the financial services space.
With the advice industry experiencing a loss of advisers, holding a solid client book is no longer a requirement as many firms may already have existing clients but lack sufficient advisers.
Madison Financial Group, a wholly owned subsidiary of Clime, has formed a strategic alliance with Practice Development Group, bringing combined FUA to $8 billion through 130 advisers.
