Magellan COO/CFO resigns
Kirsten Morton has resigned as chief operating officer and chief financial officer of Magellan Financial Group.
November 13, 2024
Bell FG proposes non-binding acquisition of SelfWealth
Asset manager Bell Financial Group has made a non-binding proposal to acquire 100 per cent of retail trading platform SelfWealth.
November 13, 2024
ASIC final FY24 levy sees slight reduction
The ASIC levy for FY24 will be $2691 per adviser, plus the $1500 flat rate per licensee, $187 lower than what the regulator earlier projected.
November 13, 2024
New class of adviser risks new era of vertical integration
Financial advisers have invested heavily in lifting professional standards and uplifting consumer confidence. But Colin Tate AM writes that in one fell swoop, the government could completely undermine a decade worth of blood, sweat and tears by bringing in a second tier of advice that advantages large institutions and encourages vertical integration.
November 12, 2024
Pluralsight loss ‘humbling’, says AustralianSuper
Mega fund AustralianSuper said it is still feeling the pain from its very public loss in US software company Pluralsight, and even with $341 billion of assets under management, a $1.1 billion write-down is still too big a chunk of money to let go easily. But at the Investment Magazine Fiduciary Investors Symposium, the fund’s senior private equity portfolio manager Robert Schnittger, said the most important thing now is to learn the lesson and “not lose money the same way twice”.
November 12, 2024
Mason Stevens hires head of asset allocation from AMP
Specialist wealth platform provider Mason Stevens has appointed Brad Creighton as head of asset allocation.
November 12, 2024
SMC calls for super boost for under-18 workers
Under-18 workers in Australia could have $10,000 more in savings at retirement if a rule that currently denies compulsory super contributions unless they work more than 30 hours a week is abolished.
November 12, 2024
Future2 Foundation announces winners of 2024 grant program
The Future2 Foundation has announced the 12 winning recipients of its 2024 grant program, which focused on organisations empowering financial wellbeing.
November 12, 2024
AMP adds BT talent to its North leadership team
AMP has made three appointments to its North leadership team, including talent from BT and MLC.
November 12, 2024
RITC back on the agenda via adviser petition
An adviser-led petition is looking for support to revert a tax change that has been estimated to cost advised clients $250 million collectively. The petition, which aims to reinstate the previous ATO interpretation of Reduced Input Tax Credits on advice fees, has caught the eye of the opposition who will table it in Parliament.
November 11, 2024
New week kicks off with dual M&A moves in HNW space
Two separate transactions in the high-net-worth financial advice sector have seen LGT Crestone acquire Commonwealth Bank’s private wealth arm while Evalesco will merge with Principal Edge.
November 11, 2024
ESSSuper sues Iress over fund admin services
Emergency Services Superannuation Board (ESSSuper) has commenced legal proceedings in the Federal Court against Iress and its wholly owned subsidiary Financial Synergy Holdings.
November 11, 2024
