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Showing 31 - 40 of 137 results for "Advice licensee"

AMP's MyNorth sees inflows rise 76%

ELIZA BAVIN  |  THURSDAY, 17 OCT 2024
AMP has given a positive Q3 market update with its platforms business seeing $750 million in net cashflows, up 76%. In addition, MyNorth inflows from independent financial advisers were up 47% for the quarter to $832 million. This has brought platform ...

Fund manager splashes $240m on AZ NGA

KARREN VERGARA  |  TUESDAY, 1 OCT 2024
A global investment manager has injected $240 million in AZ Next Generation Advisory (AZ NGA) and will become its largest shareholder. Oaktree Capital Management will help AZ NGA further expand its reach as its growth and succession partner, taking ...

AMP sells advice licensees to Entireti, AZ NGA

JAMIE WILLIAMSON  |  THURSDAY, 8 AUG 2024
AMP will sell its advice licensees and support services business to Entireti and AZ NGA and offload its minority stakes in 16 individual practices. It comes as the advice business reports a net loss of $15 million. Entireti, formerly Fortnum Private ...

ASIC freezes assets of Melbourne based licensee

ELIZA BAVIN  |  THURSDAY, 27 JUN 2024
... Investments Commission (ASIC) has obtained interim orders from the Federal Court freezing the assets of financial advice licensee United Global Capital and related property investment company Global Capital Property Fund Limited (GCPF). ASIC sought the ...

Super advice fee deductions compound red tape: JAWG

KARREN VERGARA  |  MONDAY, 8 APR 2024
The Joint Associations Working Group (JAWG) says new laws that enable superannuation funds to deduct financial advice fees will have the opposite effect of reducing red tape and can make advice even more unaffordable. Treasury Laws Amendment (Delivering ...

ASIC waves red flag at advisers, trustees over Choice products

JAMIE WILLIAMSON  |  THURSDAY, 22 FEB 2024
An extensive review of processes across superannuation trustees, financial advisers and advice licensees has found very little evidence that consumers are aware of how poorly Choice products they're in are performing, and that such underperformance ...

Abolishing FDSs a major win: Panel

KARREN VERGARA  |  TUESDAY, 16 MAY 2023
The Quality of Advice Review's recommendation to abolish Fee Disclosure Statements would be a major win for financial advisers as many continue to grapple with providing accurate documents to clients. The Financial Advice Association Australia general ...

Adviser population dropped 17% in 2022

JAMIE WILLIAMSON  |  FRIDAY, 13 JAN 2023
The number of financial advisers is now at its lowest in almost two decades, analysis shows. According to Rainmaker Information's breakdown of the ASIC Financial Adviser Register, a net 3250 (17.3%) financial advisers exited the sector last year ...

AMP cops $14.5m penalty over fees for no service

JAMIE WILLIAMSON  |  TUESDAY, 20 SEP 2022
Five AMP companies will pay $14.5 million for charging close to 1500 superannuation members fees for no service over the course of about three years. The Federal Court handed the fine to AMP Superannuation, AMP Financial Planning, Charter Financial ...

Suncorp agrees to super class action settlement

JAMIE WILLIAMSON  |  TUESDAY, 26 JUL 2022
Suncorp is set to pay $33 million to settle a class action brought by superannuation members in 2019 over conflicted remuneration paid to financial advisers. The class action was brought by William Roberts Lawyers in June 2019 on behalf of Suncorp Super ...