Count chief executive Hugh Humphrey has said FY25 was a “milestone year” for the business as it completed its Diverger integration, exceeding targets with $5.1 million in cost synergies.
Six months after scrapping its planned deal with KKR, Perpetual is yet to make significant headway on the sale of its wealth management division but is focusing on alternatives for product development.
Platinum Asset Management’s NPAT has fallen by 89 per cent in FY25, with the firm confirming that it will be renamed as L1 Group following the expected completion of its merger with L1 Capital.
Perth financial advice firm Integro Private Wealth has promoted Emma Ross as advice and operations manager to lead the team as it eyes future growth opportunities.
US wealth manager Focus Financial Partners, which includes Australia’s Escala Partners, has appointed a chief strategy officer to fuel further Australian growth.
The definition of wealth has evolved.
ASIC has cancelled the Australian Financial Services Licence of MWL Financial Services and banned MWL’s director Nicholas Maikousis for 10 years over conduct in relation to the Shield Master Fund.
Bell Financial Group co-chief executive, Arnie Selvarajah, believes regulation will make the provision of episodic advice easier for consumers and is pivoting the business over the next two years to focus on wealth management.
While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the professional landscape.
