NextGen adviser numbers plummet; ASIC sues AustralianSuper in first joint APRA/ASIC case

Following a loss of 23 advisers over the last two weeks, the licensee’s current adviser numbers sit at just 20 compared to more than 120 in 2019, Wealth Data reports.

ASIC has sued the trustee of Australia’s largest super fund, AustralianSuper, alleging failures to address multiple member accounts affecting 90,000 members over a decade, its first case jointly with APRA.

The asset manager has announced the conclusion of its board renewal process that began in November 2022 with its latest appointment of Cathy Kovacs as a non-executive director.

If female school or university students volunteer for work experience in finance, organisations have a ‘duty’ to offer it to them, according to a senior funds management executive.

Former van Eyk chief executive, Mark Peter Thomas, has been permanently banned by ASIC from performing any function involved in running or controlling a financial services provider.

TAL has launched a new course focused on training advisers to better support clients’ mental health and those experiencing vulnerability.

Domestic underperformance in the office sector means Australian property investors are turning their gaze towards global alternative real estate opportunities, portfolio managers say.