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Showing 601 - 610 of 6744 results for "Profit"

Insignia Financial plans advice business transformation

JAMIE WILLIAMSON  |  THURSDAY, 27 JUL 2023
The wealth group will consolidate its self-employed licensees under one brand, to be owned by the advisers via a new equity model. It has also confirmed it will divest most of its holding in Godfrey Pembroke and is looking to sell Millennium3. Insignia ...

Insurance firms defy inflationary shocks

KARREN VERGARA  |  WEDNESDAY, 26 JUL 2023
... rates lift by 10%-20% right across the board, Birt said. Among general insurers, an analysis by KPMG calculates providers' profit jumped 42% to $4.95 billion in 2022, largely dictated by higher premiums. Fidelity International is benefitting from its ...

Tax miners, major corporates to tackle housing shortage: CFMEU

JAMIE WILLIAMSON  |  TUESDAY, 25 JUL 2023
... social and affordable housing. The CFMEU commissioned Oxford Independent Economics to explore the viability of a super profit tax in helping to increase the supply of social and affordable housing, estimating the current shortfall of 750,700 dwellings ...

Insignia offloads investment bonds unit

KARREN VERGARA  |  MONDAY, 24 JUL 2023
... IOOF Ltd made a $23.2 million loss thanks largely to a massive $128.5 million net fair value loss on its assets. It made a profit of $45.6 million in the prior financial year. "The investment bond business is considered adjacent to Insignia Financial's ...

GAM investors make partial offer

JAMIE WILLIAMSON  |  THURSDAY, 20 JUL 2023
The investor group in opposition of Liontrust Asset Management's acquisition of GAM Investments is attempting to acquire 17.5% of the latter. In May, Liontrust offered to acquire GAM Investments. Almost immediately the deal was criticised by shareholders ...

CFS settles super fees class action

JAMIE WILLIAMSON  |  FRIDAY, 14 JUL 2023
Colonial First State will pay $100 million to settle a class action over fees that were illegally charged to members to pay commissions to financial advisers. The action related to members of CFS FirstChoice and conduct carried out between July 2013 ...

FY23 farewells 700 advisers

KARREN VERGARA  |  FRIDAY, 14 JUL 2023
Financial advice firms AMP Financial Planning, Synchron, and Charter farewelled the largest number of advisers, dragging down the total population to 15,708 from 16,415 at the end of the 2023 financial year. Rainmaker analysis of ASIC's Financial Adviser ...

Platinum loses $232m in FY23

CASSANDRA BALDINI  |  WEDNESDAY, 12 JUL 2023
... $566 million or the distribution re-investment of $156 million. Looking ahead, Platinum expects the 2023 financial year profit after tax to be broadly in line with consensus estimates, which range from $77 million to $82 million. However, it flagged ...

Advice firm revenues jump 45%

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2023
... hours. Top-performing practices, which manage more than 500 clients compared with the industry average of 457, generated profit margins of more than 60% compared to the average of 27%. Not all practices use technology to complete the paperwork. Only ...

abrdn's Jollie outlines next steps

ELIZABETH FRY  |  FRIDAY, 7 JUL 2023
... insourcing of investment management, the continued trend to passive strategies etc. will all put pressure on fund manager profit margins," he said. "To survive in this environment fund managers will need to run efficient business models and provide a ...