When it comes to acquiring an advice practice, one of the most difficult challenges can be former owners who refuse to take a step back, preventing a clean handover for the new buyers.
Money Management compiles ASIC’s enforcement action against financial advisers and licensees during the third quarter of 2024, including sentencing, bannings and FSCP action.
Research house SQM has announced it will collect data covering managed account portfolios in response to industry demand, with the intention to launch benchmarks in due course.
Shaw and Partners Financial Services has appointed an NSW state manager to lead its Sydney-based private wealth advisory team, alongside several financial adviser appointments from Ord Minnett.
Reach Alternative Investments CEO, Sam Phillips, says its strategic alliance with HUB24 will “expedite its expansion” into the wealth market as it embarks on discussions on future product launches.
Once the AMP advice sale to Entireti is completed, the size of the combined licensees will be almost double that of the second-largest licensee Count, and the deal is being positively received by commentators and shareholders.