AFSL

Financial planning

Minimising key person risk for solo AFSLs

With a third of AFSLs being solo advisers, how can they navigate key person risk and ensure they are still attractive propositions for buyers when it comes to their succe...

Financial planning

Limited advice sector losses keeping advisers in the red

While adviser numbers continue to slowly creep back up, the latest Wealth Data analysis reveals they would actually be in the green for the calendar year if it weren’t fo...

Financial planning

WT's Cullen on challenging UK and US advice players

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

Financial planning

WT Financial backs second ‘Hubco’ for advice duo

WT Financial has announced its second “Hubco” with a combined valuation of $7.8 million, while its first one has successfully incorporated and is now making its own acqui...

Financial planning

Director pleads guilty to unlicensed product advice

A former director has pleaded guilty to providing financial product advice without holding an AFSL which saw almost $2 million transferred to him....

Financial planning

Sequoia ramps up APL scrutiny with new committee

Danielle Press, a former ASIC commissioner, is to chair a new AFSL committee set up by Sequoia which seeks to improve governance practices and review its approved product...

Financial planning

Licensees seen as ‘first line of defence’ against product failure

ASIC believes advice licensees are the “first line of defence” when it comes to future product failures and is urging them to monitor their approved product lists. ...

Financial planning

Sequoia director to depart after 6 years

Sequoia Financial Group non-executive director Charles Sweeney has stepped down from the board of the licensee after six years....

Financial planning

The $70.5k saving from being part of a licensee

A new report from the Financial Services Council has detailed what advisers value the most from their licensee, as well as the time and cost savings from being part of an...

Financial planning

ASIC sues Fortnum Private Wealth over alleged cyber security breach

ASIC is suing advice business Fortnum Private Wealth, a subsidiary of Australia’s largest licensee Entireti, for alleged cyber security failures which led to client data ...

Financial planning

Sydney advice firms see AFSL cancellation

In its first FY26 action, ASIC has cancelled the AFSLs of two Sydney advice firms over their failures to pay industry funding levies. ...

Financial planning

ASIC cancels AFSL of Perth advice firm

The corporate regulator has cancelled the AFSL of a Perth advice firm, with the firm having previously seen its licence temporarily suspended in 2020....

Financial planning

Reliefs introduced to help licensees with reportable situations

Having proposed changes earlier this year, ASIC has clarified how it will support licensees with additional relief under the reportable situations regime....

Financial planning

Count sees appeal lodged to class action

Advice licensee Count has seen an appeal filed to a class action against it which was dismissed earlier this year....

Financial planning

ASIC cancels AFSL and permanently bans its responsible manager

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...