Industry Updates

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

AMP licensees re-brand as Akumin

Entireti will rebrand the former AMP licensees it acquired last year to Akumin.

March 05, 2025

‘War on inefficiency’ rages as platforms try to standardise processes

Platforms are trying to streamline their processes, which has led to a “war on inefficiency” according to research from SuitabilityHub. The findings come as advisers are looking to minimise the number of platforms they use to help improve their own business efficiency.

March 04, 2025

The three Ps BlackRock sees shaping portfolios

Personalisation, private markets, and access to public markets are three core portfolio trends that will shape portfolios over the near future, according to BlackRock. And what all three have in common is the need for new technological vehicles to access those investment trends.

March 04, 2025

AZ NGA secures $345 million private credit deal from Barings

Investment manager Barings will be joint lead arranger of a $345 million of senior secured credit facilities supporting AZ Next Generation Advisory.

March 04, 2025

External advisers maintain lion’s share of $1.7 billion super fund advice fees

The prudential regulator’s latest fund-level expenditure data shows funds’ advice costs totalled $1.7 billion in FY24, including $1.52 billion paid to external advisers. Funds spent just $82 million on intrafund advice, and $99 million on their own advisers.

March 03, 2025

FAAA calls for major law changes to fix CSLR

The Financial Advice Association of Australia has called for major changes to the way AFCA and the CSLR operates, including reducing the subsector cap and allowing AFCA to apportion blame to product manufacturers. In its submission to the review of the scheme, it also called for changes to insolvency laws and tougher penalties for directors that don’t pay AFCA determinations.

March 03, 2025