AIOFP flags stealth re-entry of banks to advice; How can Andrew Formica help Magellan recover?

Noting that some QAR recommendations make it “less legally onerous” for banks to provide advice, the industry association said it suspects a lingering interest from these institutions to return to wealth management.

OP-ED With Magellan CEO David George hinting at possible acquisitions, the appointment of Andrew Formica, who pursued an aggressive M&A strategy for Henderson as its former CEO, is an interesting move.

The Treasury has announced the “biggest crackdown on tax adviser misconduct in Australian history” which could see maximum fines for advisers who promote tax exploitation schemes spike to $780 million.

The Australian Sustainable Finance Institute has appointed Guy Debelle, former RBA deputy governor, to lead its newly formed expert group as the sustainable finance taxonomy progresses.

A large redemption by a UK pension fund has failed to dent the funds under management of GQG in July, as it makes a bid for Pacific Current Group.

Investment management firms are seeing greater female representation with the number of female CIOs at the investment managers that super fund HESTA works with rising from zero in 2020 to 25 per cent.

Given the growing number of young, tech-savvy Australians with their own unique financial goals, firms are launching new solutions to capture this next generation of investors.