AMP appoints BDM head for wealth distribution

AMP-Australia/hire/BDM/

AMP has made an internal promotion to head of business development for wealth distribution, as chief executive Alexis George has said the firm is doubling down on its BDM team.

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Unregistered MIS operator found guilty of $34m fraud

managed-investment-scheme/ASIC/court/Perth/

A Supreme Court of Western Australia jury has issued its verdict regarding unregistered MIS operator Chris Marco, who was on trial for 43 fraud charges, with ASIC stating the verdict ends a “sorry chapter”.

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ASIC releases pass mark for August adviser exam

adviser-exam/ASIC/education/

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago.

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The succession planning dilemma for younger staff

sale/M&A/SUCCESSION-PLANNING/professional-year/Joel-Ronchi/

Financial advice practices may be hiring younger or professional year advisers as a succession option, but they may find they are unable to put up the capital if the adviser looks to retire.

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Adviser numbers break 8-week streak with net loss

Wealth-Data/adviser-numbers/loss/

After eight consecutive weeks of adviser gains, the latest Padua Wealth Data analysis revealed adviser numbers have dropped as the profession begins to stagnate.

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Ensuring ESG product labelling is fit-for-purpose for advisers: RIAA

Zenith/RIAA/responsible-investment/sustainable/treasury/

Any changes to product labelling for sustainable funds must be applied consistently across investor channels, including those used by financial advisers, according to RIAA.

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AUSIEX seeks to awaken advisers to ‘cultural blind spot’ of bonds

AUSIEX/FIIG-Securities/fixed-income/Australian-fixed-income/bonds/SMAs/

Having completed its acquisition of fixed income provider FIIG, AUSIEX believes more can be done to increase direct investment of the assets and can envisage them being made more readily available on separately managed accounts.

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iShares reaches $50bn in Aussie ETF AUM

active-ETFs/ETFs/blackrock/ishares/

Having launched its first active ETF for Australian investors earlier this year, iShares says this has helped the firm reach $50 billion in assets under management in Australia.

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Iress announces CEO succession

iress/hires/ceo/Bravura/andrew-russell/

Financial services firm Iress has appointed Andrew Russell as group chief executive and managing director, taking over from Marcus Price.

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Relative Return Insider: Is Australia’s economic bounce for real?

Relative-Return/Podcast/

In the latest episode of the Relative Return Insider, host Maja Garaca Djurdjevic and AMP’s chief economist Shan

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