Wealth Management News

Financial Standard LGT Crestone has inked a deal to scoop up Commonwealth Bank’s (CBA’s) remaining personal advice business, which serves high-net-worth and ultra-high-net-worth clients. Commonwealth Private Advice has around 500 clients with assets exceeding $5 billion. As part of the deal that’s slated for completion by mid-2025, LGT Crestone, which is owned by the Princely […]

InvestorDaily Peter Herbert, Westpac’s current chief operating officer, business and wealth, is stepping into the role of acting chief executive for the division. Herbert will replace Anthony Miller, who is stepping out of the role to become Westpac’s group CEO in December. It is understood that a global search will then be undertaken for a […]

InvestorDaily While family offices manage some US$3.1 trillion in assets globally, this figure is expected to grow to US$5.4 trillion by 2030, new data from Deloitte has revealed. Currently, family offices with the greatest investment power lay in North America, with an estimated US$1.3 trillion in assets under management (AUM), while Asia-Pacific (APAC) bolsters a […]

InvestorDaily ECP Asset Management’s All Cap Australian Equities fund has come out on top in delivering the most competitive returns over the last 12 months, according to Mercer’s latest investment survey. During the year ending 31 March 2024, the fund delivered 32 per cent before fees, compared to the 14.4 per cent delivered by its […]

InvestorDaily Perpetual has announced the appointment of Tania Cecconi as lead partner in Western Australia, where she will be responsible for working across the private wealth segment. According to the firm, she will also work on community and social investment, including philanthropy, not-for-profits, senior living, and First Nations communities. Cecconi joins Perpetual with a corporate […]

InvestorDaily In a statement on Monday, AMP announced that its Australian wealth management (AWM) business would be dissolved as part of a streamlining process aimed at introducing a “simplified structure.” The role of chief executive of AWM will be removed, with AMP confirming a transition to a new operating model would occur by the end […]