Inorganic growth is the trend of the day for licensees as multiple chief executives indicate how they intend to grow their businesses in 2024.

E&P Wealth’s focus is shifting to expand its client base as it completes the migration of clients into its retail wealth management division as well as provides an update on its class action.

ASIC has cancelled the Australian financial services licence of NextGen Financial Group, following the Federal Court’s order in November for the firm to be wound up in insolvency.

Advisory firm Giles Wade has partnered with US-based Asena Family Office to help it launch an Australian arm offering advice and asset management services.

Minister for Financial Services, Stephen Jones, has confirmed the start date for consumers to lodge claims with the Compensation Scheme of Last Resort as well as its first chair.

Future IM/Pact has launched a mentoring and advocacy program to make it easier for investment teams to recruit future talent as financial services is found to have one of the widest gender gaps.

If the licensee structure is to be removed – or even if it’s here to stay – the imperative for businesses is to evolve or cease to exist, writes Shaun Green.