A former financial adviser and licensee director has been sentenced to six years' imprisonment for misappropriating close to $2 million for his own use.

Pinnacle Investment Management's 16 affiliates tallied up only $3 billion in net inflows in FY20 as institutional allocators deferred mandate decisions in COVID-19 but the firm managed to grow NPAT by 5.6% to $32.2 million.

ASX-listed trading platform SelfWealth has renewed its clearing, settlement and execution (CS&E) mandate with retail broker OpenMarkets, in a move that it says demonstrates the two fintech's shared objective of disrupting the status quo.

The self-managed super fund administration and software provider has appointed two new technology leads, set to help Class continue to grow and innovate.