Will AMP’s $100m settlement end advisers’ BOLR fight?; WT Financial’s Cullen on being first out of the gate on advice M&A

The decision by AMP to pay $100 million in settlement to members of the Buyer of Last Resort class action has been welcomed as providing closure, but one adviser told Money Management he expects members will fight on individually.

WT Financial Group managing director, Keith Cullen, believes the current M&A activity in financial advice is long overdue, having been accused of “running into a burning building” when it embarked on its M&A strategy in 2018.

With over 15 years of experience, Captivate is the expert in business events, from gala dinners and conferences to exhibitions, study tours and more. Get in touch today and turn your vision into a reality.

Mercer Financial Advice has been ordered to pay a $12 million penalty for fees for no service and failures in its fee disclosure obligations.

Macquarie Group’s releasing of nine financial advisers has driven double-digit losses for the industry this week, Wealth Data finds.

The Responsible Investment Association Australasia has announced the appointment of two co-chief executives, following the departure of Simon O’Connor after over a decade.

Netwealth CEO, Matt Heine, has identified financial advice as one of six areas he believes will be beneficiaries of the growth in artificial intelligence.

In this episode of Relative Return, host Charbel Kadib speaks to Steven Tang and Damien Hennessy of Zenith Investment Partners about portfolio construction and asset allocation.