Industry Updates

Jones offers no opposition to ASIC review

Financial services minister Stephen Jones has offered little opposition to the Senate inquiry into ASIC enforcement and intends to work with the opposition to make sure the review does not overlap with the regulator’s other oversight bodies.

Perpetual knocks back surprise proposal amid on-going Pendal deal

Perpetual has knocked back a non-binding acquisition proposal offer from Regal Partners and BPEA EQT Fund.

Renato Manias bolsters team at Wattle Partners

Wattle Partners has appointed Renato Manias as a senior financial adviser.

Atrium adds portfolio manager

Atrium Investment Management has appointed William Morgan to its Investment team as a portfolio manager.

Keep life commissions in place: Levy

The current regulation for life insurance commissions has been retained in the Quality of Advice Review proposals with advice review lead Michelle Levy releasing the much-awaited proposal for the risk sector this week. However, she has also recommended advisers receive informed written consent to receive commissions.

Scientiam partners with DASH to transfer clients out of dud funds

Fintechs Scientiam and DASH Technology have partnered to create a quick transfer service for advisers who need a quick way to transfer C and D segment clients out of underperforming funds and platforms.

FPA announces new board appointments

The Financial Planning Association has re-elected William Johns to its board and welcomed Angela Martyn and Jade Khao as new board members.

North adds 12 managed portfolios to platform

AMP has partnered with BlackRock, Morningstar, and InvestSense to add 12 managed portfolios to the North platform.

Apex Group closes latest New Zealand acquisition

Global financial services provider Apex Group has acquired Implemented Investment Holdings, the parent company of Implemented Investment Solutions (IIS) and InvestNow, which will continue to serve the New Zealand market.

Monetary policy decision made by Reserve bank

The Reserve Bank has increased the cash rate by 25 basis points to 2.85 per cent.

Specialist portfolio manager launches Peak Invest

Sydney-based portfolio manager, Peak Investment Partners, has launched a new online investment solution called Peak Invest.

How mentoring can help solve the talent shortage

The talent shortage in the industry has been well documented and with new entrants slowly replenishing the industry it will be up to experienced advisers to guide the next generation.

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