MM Newsletter
  06 November,2020
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Latest News
Money Management Original
Is AMP about to lose its mantle as largest adviser group?
With AMP Financial Planning’s ongoing loss of advisers, its lead over the second largest financial planning group by adviser numbers has dropped to 70 from over 200 adviser roles since the start of the year.
Money Management Original
AFA accuses FASEA of failing to deliver greater code clarity
The Financial Adviser Standards and Ethics Authority has been accused of simply complicating matters rather than bringing greater clarity to its financial adviser code of ethics.
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Money Management Original
AMP flags significant advice strategy update
Having moved to outsource paraplanning and expanded its life/risk approved product list, AMP is flagging a significant advice strategy update next week.
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Industry News
Ord Minnett acquires E.L&C. Baillieu
Ord Minnett, which exited IOOF in 2019, has announced it has entered into an agreement to acquire 100% of wealth management firm E.L&C. Baillieu
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Money Management Original
US election outcome upholds ‘status quo’
Grosvenor Capital Management will continue doing what they’re doing in terms of tax policy and investments regardless of who wins the US presidential election.
Industry News
BAS agents authorised to offer expanded SGC services
A new legislative instrument registered by the Tax Practitioners Board will allow BAS agents to provide an expanded range of services in relation to the superannuation guarantee charge.
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Industry News
Ares launches second credit fund
The fund will invest in a diversified portfolio of liquid and illiquid asset classes and its initial offering will be from 16 November to 4 December.
Industry News
Platypus appoints ESG head
Kristen Le Mesurier will be the new head of environmental, social and corporate governance and engagement for the asset manager.
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Industry News
Former financial adviser convicted for dishonest conduct
In the first criminal prosecution for offending of this kind, Mark Kawecki has been convicted and fined $30,000 for dishonest conduct relating to artificially satisfying rules for companies applying to the ASX.
Industry News
AMP announces cessation of paraplanning and recruitment
AMP advisers have been notified that the company is ceasing offering paraplanning and recruitment services because it will be outsourcing to external parties.
Industry News
Janus appoints global head of ESG
Paul LaCoursiere has been appointed global head of environmental, social and governance investments, starting from next year.
Industry News
NAB profit down 46.7%
Fee waivers provided due to the COVID-19 pandemic, reduced transaction volumes due to the pandemic, along with increased expenses and credit impairment charges contributed to the bank’s hit in profit.
Outsiders
Money Management Original
In the dark, out of the loop and an execrable diet
Outsider knows what it’s like to be treated like a mushroom. He is not unfamiliar with being kept in the dark and being fed execrable information.
Money Management Original
Bountiful experiences as first mate takes the helm
At the time of writing, Australian Securities and Investments Commission chair, James Shipton remains stood aside awaiting a Treasury-instigated independent review of the six-figure sum paid by taxpayers to cover his tax advice.
Money Management Original
Getting to the bottom of illicit habits
Outsider knows that there are those who believe that some inhabitants of Sydney’s so-called big end of town occasionally indulge in illicit substances reflective of their large incomes but, let’s face it, the big end of town has been pretty much empty since March.
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Money Management · Level 10, 4 Martin Place, Challis Place · Sydney, NSW 2000 · Australia