Industry Updates

Ares Management Corporation appoints Ares Credit Group partner

Ares Management Corporation has appointed Will Farrant as a partner in the Ares Credit Group. 

Industry veteran Melinda Howes to steer AMP’s super strategy

Experienced super industry leader Melinda Howes has joined AMP as its group executive for superannuation and investments.

Capital Group appoints head of institutional for Asia and EACG

Investment company Capital Group has appointed Benno Klingenberg-Timm as head of institutional for Asia and Europe Client Group (EACG).

Morningstar appoints Mark Hoven

Morningstar has appointed former Adviser Ratings CEO Mark Hoven as senior vice president of enterprise sales.

What ASX financial results tell us about licensee dynamics

A review of the most recently published accounts of three listed financial advice licensees shows how the drive to share in the revenue and profit of advice businesses is working in practice, and why it’s an increasingly attractive approach to take for licensees.

AFCA making slow progress on review recommendations

AFCA has implemented only four out of 14 recommendations of an independent review of the disciplinary body undertaken by Treasury in 2021. Despite this, CEO David Locke says the body is gearing up for the launch of an online portal in 2023-24.

Former abrdn CEO joins consulting firm KONU

Brett Jollie has become been appointed as a partner of investment and wealth management consulting firm KONU.

Mota leaves a leadership vacuum in institutional advice

The baggage of the Hayne royal commission and slow pace of progress on the Quality of Advice review reforms arguably hindered Renato Mota’s bold plans to transform Insignia Financial’s fortunes. But the 47-year-old leader was one of the few listed company CEOs standing up for the value of advice on the national stage, and that forms a large part of his legacy.

Insigina atop a fragmented pile of licensees

Just three financial advice licensee groups – including Insignia – currently authorise more than 500 financial advisers. New data shows only a couple of dozen more authorise more than 100 advisers, painting a picture of a market where it’s tough for licensees to achieve substantive adviser numbers growth.

Bennelong and Leadenhall partner to distribute ILS strategies

Bennelong Funds Management has partnered with Leadenhall Capital Partners LLP to distribute its insurance linked securities (ILS) strategies

Netwealth and iCapital partner to distribute investments

Investment platform Netwealth and fintech platform iCapital have entered a strategic partnership.

Why licensees are suddenly so eager for aligned firm equity

As the number of financial advisers continues to decrease, fewer and fewer licensees’ growth plans depend on adding significant numbers of new advisers. Instead, they’re focusing on sharing in the growth of the advice practices in their existing network. A report released this week provides an insight into why this might be a winning strategy.

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