Industry Updates

The decade-long evolution of investment advice

A decade ago the way advisers invested clients’ money was considerably less sophisticated than it is today. Whether the changes since then would have happened anyway as advice professionalised or they were driven by legislation is beside the point: they’ve changed, and generally for the benefit of clients.

March 11, 2025

Managed account FUM surges in second half of 2024

Managed accounts funds under managements reached $232.77 billion, having surpassed the $200 billion milestone in the middle of last year, according to the latest census data from IMAP. The growth was largely due to market performance with about a third of growth coming from net inflows.

March 11, 2025

FAAA highlights the next minister’s ‘to-do list’ post-election

The Financial Advice Association Australia has identified a considerable “to-do list” for the next financial services minister. General manager for policy Phil Anderson told the FAAA Roadshow that the new minister will have to tackle issues such as the CSLR, fee consent form standardisation and the education pathway.

March 10, 2025

BlackRock’s highest conviction ideas beyond the Mag 7

At the BlackRock Wealth Symposium, the global asset manager shared several high conviction investment ideas including country-specific equity allocations, ultra-long duration bonds, and broader diversification through alternative asset classes like hedge funds, gold and cryptocurrency.

March 10, 2025

Cyclone Alfred delays DBFO Tranche 2 release

The Albanese government has finalised key elements of the contentious second tranche of the Delivering Better Financial Outcomes legislation, including the eradication of SOAs and nudges for super funds. But its expected release of draft legislation on Friday was delayed amid national preparation efforts for the tropical cyclone impacting Australia’s east coast.

March 07, 2025

Insignia bidding war now a two-horse race

Bain Capital and CC Capital have raised their bids for the full acquisition of Insignia Financial, taking third bidder Brookfield Capital Partners out of the running. Both new proposals have an increased share price of $5 cash per share, a significant increase from the previous bids of $4.60.

March 07, 2025

The ‘powerhouse’ women driving AZ NGA’s next growth phase

AZ NGA has grown into a $700 million behemoth under the leadership of co-founder and CEO Paul Barrett, who has become the public face of the group. But as the advice equity aggregator moves into its next phase of growth, it's the counsel and experience of four key women that has become critical to driving the business forward.

March 06, 2025

‘Not just the FAAA’ needed to drive self-regulation

While the Financial Advice Association of Australia has conceded it won’t be able to be the body to monitor the profession, CEO Sarah Abood has told the association's roadshow in Melbourne it hopes there are other stakeholders that will step forward to help the move towards a self-regulatory regime.

March 06, 2025

Oreana partners with Encore Advisory to lift advice equity capabilities

Oreana will partner with Encore Advisory to help boost the licensee’s equity stake proposition. Oreana will continue to provide capital solutions and operational services, but the enlistment of Encore will help advice practices strategic growth, merger or succession planning decisions.

March 05, 2025

BlackRock buys Hong Kong firm’s Panama Canal port stake

A Hong Kong-based conglomerate has sold its stake in a number of ports around the Panama Canal to a consortium of investors including BlackRock.

March 05, 2025

Vanguard global CEO: Financial advice antidote to private markets ‘worries’

The chief of the US$10.4 trillion ($16.7 trillion) Vanguard Group says investors are “right to be worried” on private markets but that the passive giant would consider partnering with managers to bring the asset class to its customers for a lower price tag. He believes financial advice will play a necessary role in helping investors with navigating the risk and complexity of the asset class.

March 05, 2025