Paraplanners fear sidelining by video SOA; AMP settles Royal Commission class action

Amidst concerns that video SOAs or a shorter advice document could replace paraplanners, this industry professional sees it as an opportunity for them to upskill.

AMP has reached an agreement to settle the shareholder class action brought by Komlotex in June 2018 following the Hayne royal commission for $110 million.

Magellan chief executive, David George, has sent a message to advisers that they are a key client base for the firm while discussing how M&A could help to reach its $100 billion FUM target.

The investment research firm has named a new chief executive as its current CEO and founder, David Wright, steps down after 20 years.

The firm has entered an agreement with SS&C to divest its managed funds administration business for $52 million with the deal expected to close in Q3 FY23 as it details its half-year results.

Colonial First State has appointed two investment professionals from MLC Asset Management and AustralianSuper.

Newly opened this year from its COVID-19 lockdowns, two tailwinds are in place which are making China a more appealing investment option for Australian investors.