Large licensees are looking to take minority stakes in smaller ones as a way to retain a presence in the industry, but the smaller party needs to ensure it doesn’t create a conflict of interest.
Fiducian has reported a 23 per cent rise in net profit after tax in the last six months of 2023, but non fee-paying clients led to a fall in funds under advice.
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ASIC has cancelled the Australian financial services licence of Sydney-based Brava Capital, which was charged last October for allegedly failing to lodge financial accounts.
Advisory and asset management group Prime Financial has announced it will acquire a fund management platform and its two funds as it seeks to launch a diversified alternative asset management business.
Count has made its latest acquisition of a company that provides offshore services for advisers out of India, continuing the expansion of its services segment.
