AFSL

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. ...

Financial planning

‘Competency failures’ lead to Sydney AFSL cancellation

ASIC has cancelled the AFSL of a Sydney-based advice firm, describing how it demonstrated “competency failures” in its activities. ...

Financial planning

Mid-sized licensees sitting in compliance blind spot

Those mid-sized licensees with 16–50 authorised representatives are experiencing a blind spot, according to compliance firm Assured Support, and ASIC could develop specif...

Financial planning

ASIC cancels Sydney AFSL after CSLR payment

ASIC has cancelled the AFSL of a Sydney asset and investment manager following a payment by the Compensation Scheme of Last Resort....

Financial planning

Advisers seek personal touch from smaller licensees

Large AFSLs with more than 100 advisers are seeing the largest losses in both adviser and AFSL numbers as individuals seek a smaller, personal vision in their work....

Financial planning

ASIC slaps AFSL cancellation on Qld firm

The corporate regulator has cancelled the AFSL of a Queensland-based financial services provider, having held the licence since mid-2016....

Financial planning

ASIC unveils new ‘user-friendly’ AFSL portal

The corporate regulator has officially launched its new digital portal for financial services businesses submitting AFSL applications, offering a more “efficient, modern ...

Financial planning

Finchley & Kent to utilise Padua technology for its advisers

Advice licensee Finchley & Kent has announced a strategic partnership with technology firm Padua Solutions as licensees are encouraged to broaden their tech usage....

Financial planning

Brite Advisors sees AFSL cancelled by ASIC

ASIC has cancelled the AFSL of global advisory group Brite Advisors after compensation was paid to an individual by the Compensation Scheme of Last Resort....

Financial planning

ASIC suspends Melbourne advice firm’s AFSL

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

Financial planning

‘This isn’t like MAFS’: Merchant’s Haintz on successful advice M&A

Merchant Wealth’s David Haintz has described how the firm differs from the traditional private equity ventures jumping into Australia, and why M&A isn’t like Married at F...

Financial planning

M&A actions propel licensees’ share price in Q1

Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two ...