Gupta’s grand plans

Peeyush Gupta wants to forge strategic referral relationships with industry and corporate super funds, hire more advisers, open new offices, and see it lead the debate on post-retirement in Australia. The group has also commenced a research project on managing longevity risk. According to Gupta, the high and rising cost of providing ongoing personal advice […]

Financial Index keeps on acquisition path

Financial Index Wealth Accountants is still on the hunt for large accounting firms and quality advice businesses, following the announcement of the group’s 46thacquisition. Financial Index Wealth Accountants, which announced its acquisition of Centric Wealth on Sunday, will keep and invest in the Centric Wealth brand but move to a shared back-office arrangement for compliance, […]

A year of transactions: Chase

Merger and acquisition activity in the financial planning and accounting space is heating up with 2014 shaping up to be a year of transactions, according to Chase Corporate Advisory, who advised Financial Index on its recent acquisition of Centric Wealth. The firm, which is a specialist adviser to mid-tier financial services and professional services firms, […]

AMP backs corporate super

A number of AMP Financial Planning practices have recently sold their corporate superannuation books back to AMP under Buyer of Last Resort arrangements, as the value of corporate super businesses suffers due to the Future of Financial Advice reforms. A spokeswoman for AMP said it was not uncommon for financial planning firms to review and […]

Advisers threaten to breakaway from ANZ

Around 20 RI Advice practices are considering breaking away from the ANZ-owned dealer group, with accusations of mis-management, broken promises and a lack of investment into the group’s OneAnswer platforms. The 20 RI Advice proprietors including representatives from the group’s Proprietors’ Advisory Council will meet next month to discuss their future with ANZ. It is […]
On Practice

New fund to focus on the short term

Antares Capital, the fixed income and equities manager backed by NAB Wealth and MLC, will launch a new income fund targeted at investors with a short-to-medium term time horizon by the end of March. The fund, which has been soft launched to MLC’s aligned network of advisers, will be managed by the Antares fixed income […]
On Practice

Bank planners rethink their future

A growing number of bank planners are looking to break away from institutional control and run their own business, according to Connect Financial Services Brokers, which has experienced an influx of inquiries from salaried bank advisers interested in acquiring small client books. Changes to the remuneration models of bank planners spurred by the new Future […]

ANZ complete on M3 review

ANZ has completed a review of its its Millennium 3 dealer group and will improve the monitoring and supervision of its financial planners. The group has also promised to be more deserving of clients’ trust, after former Millennium 3 financial planner Melinda Scott pleaded guilty to seven fraud charges relating to $5.9 million in December. […]