Fortnum CEO sharpens focus on organic adviser pipeline; Further adviser losses seen at two major licensees

Fortnum Private Wealth CEO, Neil Younger, says scale is becoming a necessity rather than a benefit for financial advice licensees as it focuses on organic growth via licensee switching.

Two of Australia’s largest financial advice licensees, Count Financial and AMP Group, have each lost five advisers this week, while Sequoia has “bounced back” after recent losses.

Advised money is the largest source of net ETF flows this year to date, according to Betashares’ estimates, underlining significant adviser demand for these solutions.

Ahead of the Responsible Investment Association Australasia annual conference in May, Zenith Investment Partners’ Dugald Higgins shares his thoughts on the evolving sector and the challenges it faces after a period of strong performance.

The Federal Court has issued a seven-figure penalty against Lanterne Fund Services, a wholesale licensee which operated as a “licensee for hire”.

Schroders Australia, ClearBridge and GAM have all made new hires in their distribution teams, focusing on wealth and financial advisers.

In this episode of Relative Return, host Maja Garaca Djurdjevic speaks with Riley James, founder and chief executive of fintech SuperAPI, about creating a superannuation ecosystem and potential changes from the Quality of Advice Review.