AMP considers ‘radical’ licensee shake-up
AMP is in active discussions with aligned advisers about a major restructure of the troubled licensee network, akin to the overhaul planned by rival Insignia Financial. The revelation comes as the wealth giant reported a $25 million loss in financial advice and sets aside $50 million as a provision for damages stemming from the Buyer of Last Resort.
August 10, 2023
Steadying waves: PI market finds balance
Australia’s PI insurance market has emerged from a challenging period with newfound stability, powered by fierce competition and improved compliance and educational standards, according to a pair of brokers. Independent financial advisers who remain committed to professionalism are among the beneficiaries.
August 10, 2023
QAR delays block voters from ‘pressing need’: Opposition
The federal opposition has accused the government of lacking a clear vision for financial advice reform, with Coalition MP Dean Smith arguing slow progress on implementing the Quality of Advice Review recommendations were hurting consumers.
August 10, 2023
Managed accounts lead product registration surge: APIR data
Product registration firm APIR Systems has reported a surge in registrations of new financial products, especially managed accounts, in financial year 2023.
August 10, 2023
Lonsec appoints investment division head
Fund researcher Lonsec has appointed Nathan Lim as CIO and executive director of Lonsec Investment Solutions, the group’s investment division.
August 10, 2023
The carrot-and-stick of adviser retention
If a licensee can’t achieve growth by attracting new advisers and practices then the next best thing it can do is to avoid shrinking by preventing those parties from leaving. Simon Hoyle writes that unfortunately PI insurance can be weaponised as part of the licensee switching process.
August 09, 2023
Hejaz Group launches direct Islamic pension product
Islamic Finance provider Hejaz Group has launched the Hejaz Islamic Super and Pension, the first account-based Islamic pension product to be directly offered to consumers in Australia.
August 09, 2023
Ignition Advice appoints Asia Pacific BDM
Advice technology company Ignition Advice has appointed Darren Speirs as business development director for the Asia Pacific region.
August 09, 2023
LifeBid launches equity crowdfunding campaign
Insurance company LifeBid has launched an equity raising campaign with crowdfunding platform Stride Equity.
August 09, 2023
Wealth Today growing practices, not ‘chasing advisers’
WT Financial Group has seen a 57 per cent boost in revenue largely due to scale, but group founder Keith Cullen has identified the next round of revenue increases will be achieved by growing the practices within the network rather than “chasing new advisers”.
August 08, 2023
