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Editor's Choice

Adviser numbers plateau

The number of financial advisers in Australia appears to be stabilising at 15,602, as Count and AMP Financial Planning continue to hold the lion's share.

Praemium loses $700m due to adviser transitions

ELIZA BAVIN  |   12:33PM
Praemium reported total net outfows from its Powerwrap scheme has reached $700 million over the past three quarters.

Small cap investors told to 'stop whinging'

ELIZA BAVIN  |   12:32PM
Forager's chief investment officer has read the riot act to investors.

Adam Blumenthal ordered to pay $850k

ELIZA BAVIN  |   12:29PM
Blumenthal is also banned from managing corporations for five years.

Adviser numbers plateau

JAMIE WILLIAMSON  |    12:48PM   The number of financial advisers in Australia appears to be stabilising at 15,602, as Count and AMP Financial Planning continue to hold the lion's share.

Two Brisbane advice firms merge

KARREN VERGARA   Brisbane-based financial advice firms Eureka Whittaker Macnaught (EWM) and Blue Harbour Financial Partners, which are part of AZ NGA, have announced their merger.

Commercial real estate optimism ticks up

ANDREW MCKEAN  |    12:39PM   The overall sentiment of global corporate real estate leaders has improved to its highest level since Q2 2022, according to a survey by Knight Frank.

AMP North adviser inflows rise 22%

ANDREW MCKEAN  |    12:35PM   AMP North inflows from independent financial advisers (IFAs) increased 22% as its platforms business' assets under management (AUM) increased to $74.3 billion.

UniSuper selects new group insurer

JAMIE WILLIAMSON   After more than a decade in business, UniSuper has dropped TAL as its group insurer.

Life insurers struggle with code compliance

KARREN VERGARA   Life insurers continue to breach their own compliance code with more than 12,000 instances recorded, yet the body overseeing their conduct fears this is likely under-reported.

intelliflo adds SMSF cashflow modelling capabilities

JAMIE WILLIAMSON  |    12:46PM   Advisers using intelliflo now have access to cashflow modelling tools for SMSF clients.

AFCA flags legal uncertainty on SMSF wholesale test

KARREN VERGARA   Financial advisers must be mindful of the "legal uncertainty" that exists when applying the appropriate wholesale test on self-managed super funds (SMSF), according to the Australian Financial Complaints Authority (AFCA).

Powell backflips on rates pushing back RBA cut expectations

ELIZA BAVIN   This comes as the IMF urges global central banks to remain vigilant to keep inflation down.

Income inequality elevated, spikes: Oxfam

KARREN VERGARA   Income inequality is too high and continues to balloon in 60% of low- and middle-income countries studied by Oxfam International, tipping the Gini coefficient well above acceptable levels.

Adam Blumenthal ordered to pay $850k

ELIZA BAVIN  |    12:29PM   Blumenthal is also banned from managing corporations for five years.

Blockchain mining companies sued by ASIC

ANDREW MCKEAN   ASIC has taken legal action against three blockchain mining companies - NGS Crypto, NGS Digital, and NGS Group - along with their sole directors Brett Mendham, Ryan Brown and Mark Ten Caten.

Bell Asset Management announces new chief executive

ELIZA BAVIN   The new chief executive was previously head of superannuation at Vanguard.

ASIC chief executive to depart

ELIZA BAVIN   Warren Day will leave the regulator on June 1.

Spaceship Super to land somewhere new

JAMIE WILLIAMSON  |    12:51PM   Seven years on from its launch, Spaceship Super is being merged into a larger offering.

State supports move to close super loophole exploited by paedophiles

ANDREW MCKEAN   South Australia has become the first jurisdiction in Australia to support a motion calling for the close of a legal loophole that protects paedophiles' superannuation from access by survivors of child sexual abuse.


The Aussie wealthtech firms that are 'most innovative'

ANDREW MCKEAN   The annual list of the world's most innovative wealthtech companies was recently released, with several Australian firms making the cut.

GBST develops private equity platform

ANDREW MCKEAN   Wealth management software business GBST has collaborated with Luna Partners to create a technology platform that connects investors and managers to the wholesale private equity market.

Wholesale investor tests up for parliamentary review

KARREN VERGARA   The federal government wants to shake up the wholesale investor tests further in launching a parliamentary inquiry into the entire framework, worrying many fund managers operating in the high-net-worth space.

ACNC tightens screws on NFPs with complex corporate structures

JAMIE WILLIAMSON   The Australian Charities and Not-for-profits Commission (ACNC) announced it will focus on the misuse of complex corporate structures this year.