A former Brisbane financial adviser has been found guilty of 28 counts of fraud where clients lost $5.9 million.

Financial advice practices with high profit margins charge annual client fees of $7,700 and keep their operational costs low, says Investment Trends’ Irene Guiamatsia.

ASIC has cancelled the AFSL of a former national financial advice business after the CSLR was required to pay compensation for the firm’s actions.

Perpetual has appointed a new chief executive to replace Rob Adams, with the new appointment holding a background in leading change programs as the firm moves to complete the KKR deal.

The migration of the MLC platform to Expand caused disruption in platform flows for Insignia in FY24 as advisers “lost patience” with delays, while the firm flagged its reasoning behind the lack of dividend.