AMP has reported first quarter results for its Australian wealth management division, reporting a substantial 62 per cent drop in platform inflows.
Delia Rickard, who spent over a decade at the ACCC and had previously been a senior executive at ASIC, has joined the board of the financial wellbeing organisation.
The funds platform has described performance over the March quarter as “solid”, despite a $740 million drop in net inflows.
The Treasury has outlined how advisers and their AFSLs can utilise the proposed experience pathway if they meet the requirements, as it opens a consultation period for feedback.
The Treasury has opened consultation on the proposed experience pathway, outlining what would deem an adviser to meet the education requirements.
Parameters underpinning a high conviction Australian equity fund, formerly advised by BlackRock, have been revised by newly appointed manager Pendal Group.
The specialist asset manager has been appointed to oversee the $115 billion super fund UniSuper’s private debt portfolio in Australia and New Zealand.
The Advisers Association believes Australia runs the risk of a “back to the future” scenario that served it poorly in the past unless guardrails are put in place on non-relevant providers giving “good advice”.
ASIC has banned Gold Coast-based director Darren Thomas Edden-Brown for eight years for promoting and helping consumers access their superannuation early to buy a home or pay personal debts.
Despite dwindling investor confidence, the Australian ETF industry still reached a new all-time high of $142.6 billion in FUM.
