Industry Updates

Quinbrook launches carbon footprint reporting platform

Asset manager Quinbrook Infrastructure Partners has launched a digital platform, Quintrace, to help customers trace, audit and report their hourly carbon footprint.  

BT’s PPM transition to Mercer successful

Mercer has announced that the transition of BT’s Private Portfolio Management business from Westpac Group to Mercer has been successful. 

Diversity Council Australia reconfirms MetLife Australia as inclusive employer

Diversity Council Australia has recognised life insurer MetLife Australia as an inclusive employer for the second time.  

Betashares appoints ED for NZ expansion

ETF manager Betashares has appointed financial services executive Hugh Stevens as executive director, responsible for a range of growth, distribution, and strategic initiatives as part of the firm’s New Zealand expansion.

Grinding gears won’t halt Count’s takeover hopes for Diverger

Despite a surprise non-binding counter offer from little-known COG Financial Services earlier this week to acquire Diverger, Count remains confident a deal will be completed by February. With the backing of major shareholder HUB24 as well as the Diverger board, Count CEO Hugh Humphrey likes his chances.

Embattled Link Group restates financial report after ASIC probe

Link Group, a key provider of administration services to super funds and parent company of Link Advice, has restated its half year and full year financial report for 2023, after ASIC raised concerns about several “material misstatements” of its assets and settlement costs.

Charges laid after investigation into Sterling Income Trust

Sterling Group founder Raymond Jones, his son Ryan Jones, and director Simon Bell are each facing several criminal charges following ASIC’s investigation into the Sterling Income Trust (SIT) and the collapse of the Sterling First group of companies. 

Tech start-up launches financial planning software

Technology start-up Elan has launched financial planning software designed exclusively for Australian financial advisers. 

Lessons for financial advisers from the demise of a PwC partner

What happened to former PwC partner Peter Collins could happen to any financial services professional who falls under the auspices of two regulators. For Collins, they were the TPB and ASIC – two regulators with which financial advisers are intimately acquainted.

Advisers want certainty around SOA policy

With SOAs due to be reformed as part of the QAR changes, advisers would like to see assurances any changes won’t impact their ability to gain PI insurance, as well having an industry-wide standardised template, according to survey findings from Ensombl.

Count subsidiary acquires accounting firm

Count subsidiary firm Twomeys has acquired Canberra-based accounting firm Allan Watt Accounting (AWA). 

AZ NGA acquires outsourced HR firm

Professional services company AZ NGA has acquired outsourced human resources company Catalina Consultants as part of its plans to build out the range of business support solutions it offers its expanding network of financial advisory and accounting firms. 

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