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Showing 81 - 90 of 772 results for "AFSL"

ASIC bans Queensland adviser

ANDREW MCKEAN  |  WEDNESDAY, 15 MAR 2023
... was previously a representative of Smart Solutions Group, the director and responsible manager of which was banned and the AFSL cancelled in 2020 for similar issues. The banning order took effect from 15 March 2022. Allen sought a review of ASIC's ...

Morningstar launches managed accounts portfolios

KARREN VERGARA  |  MONDAY, 13 MAR 2023
Morningstar has launched six managed accounts products that aim to help financial advisers achieve their clients' investment objectives. The Medalist Core Portfolios use both active and passive investment strategies across managed funds and exchange-traded ...

Diverger highlights M&A progress, pipeline

JAMIE WILLIAMSON  |  MONDAY, 27 FEB 2023
... $64.15 million. Diverger said it's materially ahead of its run rate on the FY25 M&A target following the acquisitions of AFSL Compliance, Priority Networking, and 35% of McGregor Wealth Management in the period. This saw it acquire $4.1 million in revenue ...

Advice group convicted of hawking

JAMIE WILLIAMSON  |  WEDNESDAY, 22 FEB 2023
... consumers and trying to convince them to switch their super fund, copping a $70,000 fine. National Advice Solutions' AFSL was cancelled in December and its two responsible managers, Gail Glasby and Paul Carcallas, were both banned by ASIC for 10 ...

Financial Circle director convicted, fined

CHLOE WALKER  |  TUESDAY, 21 FEB 2023
... involvement in two companies - FP Investment Partners and Equilibrium FS - that were both closed down. Financial Circle's AFSL and credit licences were cancelled by in November 2018 after it was fined $9 million. The fine followed the firm being ...

ACCC blitzes social media influencers

ANDREW MCKEAN  |  MONDAY, 30 JAN 2023
... chief executive and managing director Arian Neiron said: "Our conclusion is that investors want to see finfluencers with an AFSL." "They [investors] want assurance that product recommendations are coming from experts that have genuine understanding of ...

Adviser population dropped 17% in 2022

JAMIE WILLIAMSON  |  FRIDAY, 13 JAN 2023
... represent four of the 10 fastest growing AFSLs, with Count Financial topping the ranks on this front. The fastest contracting AFSL remains the SMSF Adviser Network, losing almost 400 advisers in 2022.

AAT upholds AFSL cancellation

CHLOE WALKER  |  THURSDAY, 12 JAN 2023
The Administrative Appeals Tribunal (AAT) has supported ASIC's decision to cancel the AFSL of Olive Financial Markets Pty Ltd (Olive). Between 2013 and 2018, Olive operated both a managed discretionary account (MDA) service and a superannuation rollover ...

Morningstar to introduce new rating system

JAMIE WILLIAMSON  |  WEDNESDAY, 11 JAN 2023
Morningstar Australasia is looking to scale its ratings universe, introducing the new Morningstar Medalist Rating. From May, the Medalist Rating will replace the Analyst Rating depicted by gold, silver and bronze medals. The aim, Morningstar says, is ...

ASIC confirms advisers can offer home equity access guidance

ANDREW MCKEAN  |  TUESDAY, 10 JAN 2023
... for clients. "Given the similarities between the HEAS and a reverse mortgage, many Australian Financial Service Licence (AFSL) holders had expressed caution about advising directly on the scheme, as it may have required an Australian Credit Licence (ACL) ...