The cost of cyber security hires in financial services

ASIC/cybersecurity/recruitment/technology/

With cyber security at AFSLs identified as an ASIC enforcement priority, a technology recruiter has shared what these specialists are expecting to earn in the financial services sector.

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Could ASIC’s public IDR plans lead to under-reporting?

dispute-resolution/internal-dispute-resolution/breach-reporting/Assured-Support/ASIC/

As ASIC looks to publish firm-level data on the internal dispute resolution regime, a compliance professional has warned it could have unintended consequences, such as under-reporting.

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Selfwealth acquirer bets on mass affluent market

selfwealth/Bell-Financial-Group/M&A/acquisition/scale/

Selfwealth’s acquirer, Syfe Group, has said the firm is hopeful of opportunities from the mass affluent population as it believes a gap exists between DIY brokerage and financial advisers.

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Prime Financial expands wealth division with investment research acquisition

Prime-Financial/prime-financial-group/investment-research/M&A/

Prime Financial Group has expanded its reach into wealth management by over 3,000 investors with a binding agreement to acquire investment research and fund management business Lincoln Indicators.

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Iress confirms latest divestment as transformation program completes

iress/divestment/consolidation/

Having already completed three major sales, Iress has announced its latest divestment following a strategic review conducted during its transformation program.

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Coller Capital bolsters Aussie private wealth team

private-wealth/appointment/private-markets/

Private markets secondaries specialist Coller Capital has appointed an Australian and New Zealand director who will work closely with private wealth managers and family offices.

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AZ NGA-backed firm acquires Qld advisory practice

AZ-NGA/M&A/mergers-and-acquisitions/

Rose Partners, which has a strategic partnership with AZ NGA, has purchased an advisory and accounting business based in Queensland to drive its expansion.

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Entering Australia as an offshore ETF player

Mirae/Mirae-Asset-Global-Investments/ETFs/Global-X-ETFs/global-x/

Australia’s “sophisticated” financial services industry is a magnet for offshore fund managers, according to a global firm.

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Active management viewed as ‘nearly zero-sum’ in face of ETFs

morningstar/active-ETFs/ETFs/

The latest Morningstar asset manager survey believes ETF providers are likely to retain the market share they have gained from active managers.

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Double-digit new adviser growth holds steady

Wealth-Data/adviser-numbers/new-entrants/

The financial advice industry has enjoyed another week of strong new entrant numbers, totalling nearly 40 for the past fortnight, thanks to the latest exam passes.

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