Wealth Management News

InvestorDaily Speaking to InvestorDaily, Paul Barrett, CEO of AZ NGA, highlighted the clear influx of global institutions into the Australian wealth management sector, but said this surge of investment will eventually dry up. Earlier this month, AZ Next Generation Advisory (AZ NGA) announced it had secured a $345 million senior secured credit facility, led by […]

ifa In its first half results announcement on the ASX on Tuesday morning, HUB24 said that as at 31 December 2024, 4,886 advisers were using the platform. This was an increase of 361 advisers, up 14 per cent compared with the prior corresponding period, and followed the completion of 84 new distribution agreements over the […]

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 […]