Industry Updates

Count picks up Insignia-licensed practice

Sydney-based advisory business Critique Private Clients has joined the Count network, switching from Insignia-owned Consultum Financial Advisers.  

OpenInvest receives long-term funding

Melbourne-based investment platform OpenInvest has secured long-term financial support from the Tayside Group, the family office of the Smith family.  

Two-thirds pass November adviser exam

Some 66 per cent of candidates have passed the 23rd adviser exam, which was held in November, according to an update from ASIC.

AustralianSuper brings death claims management in-house

AustralianSuper has changed its membership service model to internalise the death claims and complaints processes, while announcing that it’s signed a memorandum of understanding to negotiate an extension for Link Group to provide core administration services until at least 2028.

AMP updates self-licensed adviser service offering

AMP has updated its offering for self-licensed financial advisers, Jigsaw Advice Solutions, with the aim of helping improve service efficiency.  

Govt releases draft legislation for adviser exam changes

The government has introduced draft legislation to modify the financial adviser exam by adding more multiple choice questions and opening up who can sit the exam.

ART taps Mercer executive to succeed Reilly as CEO

Australian Retirement Trust has appointed Mercer executive David Anderson as chief executive, replacing Bernard Reilly who resigned earlier this year.

Insignia’s investment solution Expand Essential launches updates

Insignia Financial’s super, pension and investments wrap platform Expand Essential has announced a slew of new menu functions to help advisers better serve their clients.  

FAAA welcomes revised ATO guidance on advice fee tax deductibility

The Financial Advice Association has welcomed the Australian Taxation Office’s revised guidance on tax deductibility of financial advice fees, suggesting that it’s a positive development in clarifying relevant rules. 

Sequoia acquires its legal service provider

Sequoia Financial Group has acquired its legal service provider Australian Business Structures (ABS) for a cash consideration of $2 million. 

AusSuper expands Churchill Asset Management partnership to US$1.5b

AustralianSuper has upped its partnership with Nuveen affiliate Churchill Asset Management to US$1.5 billion ($2.3 billion).  

SMSF Association appoints board member

SMSF Association has appointed Christine Franks to the board as its governance expert, effective 1 January 2024.  

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