Wealth Management News

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 […]

Reuters AMP Ltd reported third-quarter net outflows at its Australian wealth management unit more than halved due to increased inflows into its flagship online investment platform, North, and reduced withdrawals at its pension trusts. AMP has suffered from persistent outflows since a government-backed inquiry revealed a series of scandals that the 173-year-old firm has been […]

Money Management Shez Ford, former executive at ANZ Wealth, CBA, and ING Australia, has been named Allianz Australia’s chief general manager, consumer, from August 2023. In this role, she would lead the firm’s consumer division, which focuses on the distribution of consumer products through its direct and intermediated channels. She made the move from the […]

risk info The Association of Financial Advisers and the Financial Planning Association of Australia will merge to form the Financial Advice Association of Australia. Confirmation of the merger was made this afternoon following Extraordinary General Meetings conducted by both associations, where the result of the member vote on the merger proposition was announced. A release […]

AFR UBS is planning a return to wealth management in Australia – some eight years after it exited the local market with a spin-off – as it works through last month’s 3 billion Swiss franc ($4.9 billion) takeover of rival Credit Suisse. UBS, which is the largest wealth manager in the world, views Credit Suisse’s private […]

InvestorDaily The wealth management companies have struck a new deal, which includes a reduction in the cash component and an increase in the scrip consideration. Perpetual Limited has agreed to revise the cash and scrip consideration mix of its offer to purchase 100 per cent of shares in Pendal Group. Under the revised terms, Pendal […]