Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 161 - 170 of 1904 results for "licensee"

Adviser number growth shoots?

ANDREW MCKEAN  |  FRIDAY, 10 JAN 2025
The number of advisers that have exited the industry over the past four or five years appears to have plateaued, albeit another decline in 2023, last year's figures suggest that the losses have stabilised, according to Rainmaker Information's 2024 ...

Morgans Financial crowned largest licensee

KARREN VERGARA  |  WEDNESDAY, 8 JAN 2025
Morgans Financial has toppled AMP Financial Planning (AMP FP) to become the licensee with the largest number of financial advisers. Morgans recorded 431 active advisers at the end of 2024, while AMP FP had 426. On December 20, both AFSLs had 430 registered ...

Sanlam Private Wealth breaches licensee obligations, hit with enforceable undertaking

MATTHEW WAI  |  MONDAY, 6 JAN 2025
Sanlam Private Wealth, the Australian arm of the South African Sanlam Group, has admitted to breaching licensee obligations by "failing to adequately supervise" its authorised representatives and corporate authorised representatives (CARs), following ...

Court finds CFD issuers engaged in 'unconscionable conduct'

ELIZA BAVIN  |  MONDAY, 23 DEC 2024
The Federal Court has found that collapsed contracts for difference (CFD) issuer, Union Standard International Group (USG) and two of its former corporate authorised representatives, BrightAU Capital (trading as TradeFred) and Maxi EFX Global AU (trading ...

Zenith hires from Preqin and Morningstar

ELIZABETH FRY  |  THURSDAY, 19 DEC 2024
... director of advice software solutions at Morningstar where he refined and executed business strategies for the adviser and licensee segments in Australia and New Zealand. Previously, he held business development roles with HUB24 and Innova Asset Management ...

Trustee valuation processes 'concerning': APRA review

JAMIE WILLIAMSON  |  TUESDAY, 17 DEC 2024
... intuitive and important trigger to monitor, reliance on a single trigger may be overly simplistic and could lead an RSE licensee not perceiving broader risks, such as trends in member outflows or switching," it said. "In some cases, APRA also observed ...

Oaktree completes $240m AZ NGA deal

MATTHEW WAI  |  TUESDAY, 17 DEC 2024
Following its announcement earlier in September, the transaction has been finalised, with Oaktree Capital Management becoming AZ Next Generation Advisory's (AZ NGA) largest shareholder with a $240 million investment. As part of the deal, Azimut retains ...

Adviser exam pass rate improves

MATTHEW WAI  |  MONDAY, 9 DEC 2024
... exam before starting the third quarter of their professional year and be authorised by an Australian financial services licensee (ASFL) as a 'provisional financial adviser'. Those who were unsuccessful will receive feedback as to the areas of the exam ...

South Australian financial adviser slapped with seven-year ban

ANDREW MCKEAN  |  FRIDAY, 6 DEC 2024
South Australian financial adviser Bruce Davis has been banned for seven years by ASIC. Davis, who was the sole director and responsible manager of Wise Investment Advisers, has been barred from providing financial services, controlling an entity that ...

More work to do on reportable situations compliance, ASIC says

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
Licensees are generally slow to report to ASIC because of deficient internal processes and poor monitoring of compliance with the reportable situations regime, a review found. Recent surveillance by ASIC found financial services and credit licensees ...