Global asset manager Allspring Global Investments has hired an experienced sales head as it looks to expand its presence in Australia and New Zealand.

The structural shift towards active ETFs will reshape the asset management industry, according to McKinsey, and financial advisers will be a key group for managers to focus their distribution.

The Reserve Bank of Australia has announced its latest interest rate decision following this week's monetary policy meeting.

Betashares has expanded its Wealth Builder range with its latest global shares ETF, bringing the range to four “moderately geared” ETFs.

Licensees have been urged by ASIC to ensure their advisers’ FAR records are updated, as ASIC’s latest estimates find more than 3,000 advisers could be unable to provide advice next year.

Major licensee Count has enacted its latest M&A deal, acquiring the accounting and audit client base of a Sydney accounting firm.

Australian Unity has announced a successor for chief executive Rohan Mead, who will depart the firm after more than 20 years.

Research house SQM says the rise of separately managed accounts has seen large advice groups seek their own ratings.

Macquarie’s $321 million remediation package will provide welcome relief for investors after a “difficult and challenging” experience, according to the FAAA’s Phil Anderson.

Asset manager Janus Henderson has sold a minority stake in Victory Park Capital, a private credit manager it acquired from Pacific Current Group last August.