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Showing 501 - 510 of 3400 results for "Revenue"

Magellan performance halves across the board

KARREN VERGARA  |  FRIDAY, 18 AUG 2023
As Magellan Financial Group's funds under management and profit drastically decline, its investments in Barrenjoey Capital Partners and FinClear also took a toll on its 2023 financial year performance. The group's average funds under management ...

GQG hits $104.1bn on back of inflows

ANDREW MCKEAN  |  FRIDAY, 18 AUG 2023
... attributed FUM growth to $6.2 billion of net inflows and strides in the global equity markets. The fund manager's net revenue increased by 6.5% to $237.1 million in H1 2023, predominantly driven by management fees. A smaller portion of revenue comes ...

ASIC appeal in CBA, CFS case dismissed

JAMIE WILLIAMSON  |  THURSDAY, 17 AUG 2023
... Super between July 2013 and June 2019 in branches and online. Under an agreement, CBA was entitled to 30% of the total net revenue derived by CFS from the product every financial year. In total, this amounted to about $22.7 million over nine payments. ...

Netwealth gears up to relaunch Core, market share expands

ANDREW MCKEAN  |  WEDNESDAY, 16 AUG 2023
Netwealth will relaunch its Core offering in September, aiming to grow its footprint in the mass affluent and emerging affluent segments, driving new revenues and boosting net inflows. The wealth management company today reported a record funds under ...

Fiducian eyes IFAs, South Australia for inflows

KARREN VERGARA  |  MONDAY, 14 AUG 2023
... it acquired a Victorian-based advice firm with $16 million of FUA, which it expects to generate $103,000 in recurring revenue. Singh said he expects net inflows to rise in 2024 as newer financial advisers, particularly those from PCCU in South Australia ...

AMP provisions $50m in response to class action

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
... AMP Financial Planning advisers who protested against the decline in their business valuations from 4x to 2.5 recurring revenue. Due to this change, businesses like Equity Financial Planners and Wealthstone faced losses of $813,560 and $115,533, respectively. ...

Sequoia hires chief operating officer

JAMIE WILLIAMSON  |  TUESDAY, 8 AUG 2023
The former chief distribution officer at Praemium is starting a new gig with Sequoia Financial Group, alongside two other new hires from ASIC and WT Financial Group. Martin Morris will commence as the wealth group's chief operating officer on August ...

Pinnacle steadies FY23 profit, FUM

KARREN VERGARA  |  FRIDAY, 4 AUG 2023
Pinnacle Investment Management was able to buffer wider economic shocks to maintain its profitability, reporting modest inflows and funds under management growth in the 2023 financial year. The ASX-listed firm, with its 15 affiliates, saw FUM of $91.9 ...

Link Group to cop $418m loss

JAMIE WILLIAMSON  |  THURSDAY, 3 AUG 2023
Link Group has advised investors it expects to post a $417.7 million loss for FY23, largely the result of its issues in the UK. In April, Link Group reached a conditional agreement with the UK regulator, the Financial Conduct Authority, to settle its ...

Fitch downgrades US credit rating

ANDREW MCKEAN  |  WEDNESDAY, 2 AUG 2023
Fitch has downgraded the US's credit rating to AA+ from AAA, citing fiscal deterioration, a growing government debt burden, and an erosion of governance that has manifested in repeated debt limit standoffs. "Over the next decade, higher interest rates ...