iExtend secures debt funding and CAR
iExtend has secured its first round of debt funding to support future growth, following its engagement with ASIC last year to be granted a new retail AFSL.
February 06, 2024
Aldersley Capital partners with OpenInvest
Boutique asset manager Aldersley Capital has launched its whitelabelled online wealth management solution, Aldersley Capital Direct via the OpenInvest platform.
February 06, 2024
Mason Stevens partners with WA wealth management firm
WA-based wealth management firm Euroz Hartleys has partnered with Mason Stevens to utilise its outsourced chief investment office offering.
February 06, 2024
‘No conflict’: FAAA still committed to public duty five years after Hayne grilling
Blasted as being ineffective at acting against their own members, Kenneth Hayne put the advice associations on notice during the royal commission for the conflict of interest of trying to police a profession it relies on for financial survival. Five years on the new peak body for the sector believes it has a more transparent process, but the question remains whether it can uphold professional standards without conflict.
February 05, 2024
‘Take the ego out of them’: The importance of early career years
Years before the Professional Year became law of the land, LifePath Financial Planning set up its own apprenticeship system to develop new talents. A key part of it was the belief that all advisers should experience the entry-level/administrative aspect so when they move up in their careers they’ll still value of every aspect of the advice process.
February 05, 2024
Fee squeeze starves fundies
A squeeze on asset management fees has cut costs for clients and protected margins for advisers, but the flipside is that advisers and their clients are missing out on the capabilities of some of the world’s best managers because the market has simply become unattractive.
February 02, 2024
CALI warns against using genetic test for insurance underwriting
The Council of Australian Life Insurers has come out to support a ban on using genetic test results in insurance underwriting, ensuring Australians are not deterred from taking the test to manage their health.
February 02, 2024
Sequoia acquires paraplanning service firm
Sequoia Financial Group has acquired the assets of Clique Paraplanning, a national paraplanning service with employees and contractors primarily in Melbourne and Sydney.
February 02, 2024
UniSuper hires new chief risk officer from Cbus
UniSuper has nabbed fellow industry fund Cbus’ talent Wade Martin as its new chief risk officer.
February 02, 2024
‘Pretty easy fix’: Jones open to dumping qualified adviser tag
Minister for Financial Services Stephen Jones has made it clear to a room full of super fund chairs at the Investment Magazine Chair Forum that advice must be a central part of member retirement strategies. The comments come with a not-so-subtle concession the “qualified adviser” moniker will be gone: “if that’s the biggest problem we’ve got then it’ll be pretty easy to fix,” the minister said.
February 01, 2024
Shift more of the ASIC funding burden to licensees: Petition
As the number of financial advisers declines, inequities are emerging in who foots the bill for the ASIC funding levy. A petition launched by a Fremantle-based financial adviser asks the government to have another think about who pays what.
February 01, 2024
