AI mania will underwhelm advice: Finura
"AI mania" will over-promise and underdeliver for financial advisers, while superannuation funds are tipped to give digital advice a boost, Finura Group's 2024 predictions reveal.
View ArticleDirigere Advisory rebrands to Intelligent Planning
Financial advice licensing support provider Dirigere Advisory has rebranded to Intelligent Planning, hiring a new advice distribution manager in the process.
View ArticleSequoia strikes deal to acquire Clique Paraplanning
Sequoia Financial Group has acquired the business assets of Clique Paraplanning in cash on an earn out revenue multiple of about one.
View ArticleEuroz Hartleys, Mason Stevens sign partnership
Euroz Hartleys will use Mason Stevens' outsourced chief investment office (CIO) service to ensure the unique investment needs of its clients are met via an enhanced capability.
View ArticleASIC chases 757 adviser registrations
ASIC has issued its final reminder to the 757 financial advisers who have yet to register with the corporate regulator.
View ArticleColonial First State launches new offering to advisers
Colonial First State (CFS) has unveiled CFS 10X, a new offering designed to help ambitious financial advice practices grow.
View ArticleFiducian reports strong first half, flags growth plans
Fiducian reported a 10% increase in revenues and 18% jump in funds under management for the six months to December end, saying it's the result of a disciplined business plan.
View ArticleAMP reports boost in IFA flows, advice unit flounders
Despite seeing an influx of independent financial advisers' (IFAs) business, AMP continues to seek alternatives for its advice unit as it reports another loss.
View ArticleMDA authorisations remain steady amid exodus
The number of financial advisers authorised to advise on managed discretionary accounts (MDAs) has dropped just 6.1% in the past three years, despite the total number of advisers falling much more.
View ArticleCount to finalise Diverger deal
Count's acquisition of Diverger was approved by the Federal Court yesterday, with the deal now expected to be completed on March 1.
View ArticleDASS compensation drags AFCA, lead decision published
Compensating Dixon Advisory and Superannuation Services (DASS) victims continues to eat up the Australian Financial Complaints Authority's (AFCA) time and resources, so much so that a "lead decision"...
View ArticlePlatforms ramp up innovation, back-end efficiencies
Platform providers' ability to innovate and improve administrative efficiencies are enabling financial advisers to digitally self-serve and improve client outcomes, according to SuitabilityHub.
View ArticleCount posts positive results ahead of Diverger takeover
Count Limited (Count) increased its revenues by 6% over the six months to December 31, while increasing its statutory profits by 135%.
View ArticleReforms will strengthen retirement advice: Experts
Reforms underway to expand financial advice will have positive ramifications for the SMSF and APRA-regulated sectors as it will ultimately uplift outcomes in the retirement phase for all Australians,...
View ArticleInsignia details transformation progress
Insignia Financial's share price is up some 12% after it posted a marginal increase in underlying profit and reported all its strategic priorities being on-track.
View ArticleMorrison divestment lifts Sequoia profits
Sequoia Financial Group reported an "abnormally high" net profit after tax (NPAT), coming in 4317% higher than the prior corresponding period. However, it also flagged "several" complaints to the...
View ArticleHow advisers protect themselves from 'rogue' clients
Financial advisers should not overlook simple yet powerful strategies when it comes to protecting themselves from "rogue" clients, according to a law expert.
View ArticleFive megatrends shaping financial services: McCrindle
Demographic change, virtuous consumerism, the grandparent economy, AI acceleration, and social reconnection are the five megatrends shaping the future of SMSF and financial services businesses,...
View ArticleSuper funds in pole position for expanded advice
Superannuation funds will have a leg up over life insurers and banks once the federal government implements its proposal to expand financial advice.
View ArticleCanna Campbell slapped with $114k legal bill
A judge has ordered financial adviser Canna Campbell to pay $113,791.50 in legal costs after she was found guilty of trademark infringement.
View ArticleCentrepoint Alliance targets further growth with new platform
Centrepoint Alliance is working to launch a new, "competitively priced" IDPS and superannuation platform, a strategic initiative outlined as it posts $140.5 million in gross revenues for 1H24 and $4.9...
View ArticleDASS settlement pending court approval, victims urged to claim
The federal court will soon determine if it will approve the $16 million to settle the class action against E&P Financial Group as some victims of Dixon Advisory and Superannuation Services (DASS)...
View ArticleAdvice PDMs, BDMs at inflection point: Survey
Professional and business development managers are growing increasingly dissatisfied in their current roles as many flagged their exit over the next three years, a new survey finds.
View ArticleCount completes Diverger acquisition
Count has finalised the acquisition of Diverger as the latter officially delists from the ASX today.
View ArticleASIC succeeds in conflicted remuneration case
ASIC has succeeded in its case against RM Capital, which the court found failed to take reasonable steps to prevent its authorised representative accepting conflicted remuneration.
View ArticleMelbourne advice firm joins Count
Tailored Lifetime Solutions is the latest firm to join Count's national advice community, switching from AMP Financial Planning.
View ArticleUnmet financial advice needs affect millions in Australia
Investment Trends research has revealed 11.8 million Australians have unmet financial advice needs, with high or unclear costs cited as the main obstacles.
View ArticleManaged account FUM closes in on $200bn milestone
According to the latest figures, there is now about $195 billion held in managed accounts - up $33 billion in the six months to December end.
View ArticleTaskforce suggests aged care funding be based on personal wealth
The final report from the government's Aged Care Taskforce suggests the amount paid by Australians accessing care should be determined by their personal wealth, including superannuation, rejecting the...
View ArticleCoastal Advice Group merges with Compass Financial Management
The merger comes after Coastal Advice onboarded two other businesses in the past eight weeks.
View ArticleLow-margin clients hurt practice valuations
Lower fee-paying clients are severely affecting financial advice practices' bottom line and ultimately drag business valuations, a new analysis reveals.
View ArticleFAAA calls on ATO to provide clarity over advice fees
The FAAA said the ATO should refine its position on financial advisers giving advice to clients with pre-existing investments.
View ArticleAdvisers flock to managed accounts, but are very selective
A new report reveals 25% of all new client inflows are placed into managed accounts.
View ArticleInaugural CSLR levy slugs advisers $18.5m
The financial advice industry will be forced to pay $18.5 million to fund the Compensation Scheme of Last Resort's (CSLR) first year of operation, drawing outrage from the sector.
View ArticleListed companies drive economy's momentum: ABDO
Australian companies continue to defy odds and beat analysts' expectations to help keep the economy on its resilience streak.
View ArticleUK advisers told to review retirement advice processes
Financial advisers in the UK are being asked to examine their processes when providing retirement income advice, following a thematic review that found some "are not even getting the basics right."
View ArticleAustralia's wealthiest women not getting the advice they need
The number of new female millionaires is outpacing men, but new research suggests high-net-worth women are being left behind.
View ArticleTranche one of advice reforms hits parliament
The legislation housing the first tranche of financial advice reforms that promise to reduce the red tape was introduced in parliament today.
View ArticleCount brings advice firm to network
A former Consultum Financial Advisers-licensed advice practice based in South Australia has joined the Count network.
View ArticleFormer adviser slapped with 12 charges
A former financial adviser has been charged with 12 counts of dishonest conduct for falsifying clients' documents to access their superannuation accounts.
View ArticleA quarter of advised Australians nervous about retirement
The cost of living is weighing heavily on older Australians' minds.
View ArticleCourt delays DASS class action settlement approval
The Federal Court has delayed approving the $16 million class action settlement against Dixon Advisory & Superannuation Services (DASS) as it seeks more information.
View ArticleCount completes Solutions Centric deal, reconsiders another
Count has finalised the acquisition of Solutions Centric, but flagged another of its recently announced deals isn't going to plan.
View ArticleWhy aged care advice needs tougher regulation
The lack of regulation around aged care advice has led to superficial and often conflicted advice, that can put older Australians at risk of elder abuse, according to Aged Care Steps, which is rallying...
View ArticleHUB24 hits $100bn milestone
HUB24, which owns Xplore Wealth, Class, and myprosperity, surpassed the $100 billion milestone at the end of March.
View ArticleFinancial advice exodus has 'bottomed out': ClearView
The insurer says the government's response to the recent Quality of Advice Review points to a return of advice.
View ArticleTwo Brisbane advice firms merge
Brisbane-based financial advice firms Eureka Whittaker Macnaught (EWM) and Blue Harbour Financial Partners, which are part of AZ NGA, have announced their merger.
View ArticleAdviser numbers plateau
The number of financial advisers in Australia appears to be stabilising at 15,602, as Count and AMP Financial Planning continue to hold the lion's share.
View ArticleCourt approves $16m DASS settlement
The Federal Court has approved the settlement reached in the $16 million class action brought against Dixon Advisory & Superannuation Services (DASS) following a two-week delay.
View ArticleFortnum, PFS launch parent company
Fortnum Private Wealth and its newly acquired advice business Professional Financial Services (PFS) will operate under a newly launched parent company brand, Entireti.
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