M&A activity sees higher number of ceasing AFSLs; The Libertas mistakes that caused AFSL cancellation

The number of ceased advice licensees this financial year is nearly four times higher than the previous period, likely driven by M&A activity among new AFSLs, writes Wealth Data.

Libertas Financial Planning saw its AFSL cancelled this month after the CSLR paid out compensation to a victim; details have been shared on the firm’s mistakes that led to the victim’s complaint.

Artificial Intelligence (AI) could be the biggest productivity booster since electricity, transforming every industry. At times like this, we avoid the hype by staying curious and asking the right questions so we can deliver better outcomes.

Disciplined cost management on its transformation strategy has helped Iress to report an adjusted EBITDA of $67 million in the first half of 2024.

Principal Asset Management has appointed a new director of distribution in Australia to expand its reach in the domestic wholesale market.

ASIC has cancelled the AFSL of a former national financial advice business after the CSLR was required to pay compensation for the firm’s actions.

The corporate regulator has taken down over 7,300 phishing and investment scam websites in the past year, with this area remaining a core strategic priority for ASIC.

With business owners very rarely planning their exit from the advice practice in advance, three experts underscore why succession planning is critical for long-term success.