AMP Limited reports A$672 million net profit for FY 13

From

AMP Limited has reported a net profit of A$672 million for the year to 31 December 2013, compared with A$689 million for FY 12. Underlying profit for FY 13 was A$849 million compared with A$950 million for FY 12. Underlying profit benefited from strong growth in Wealth Management, AMP Bank, Mature and New Zealand, offset

continue reading

Combating the number one threat to wealth management businesses

From

Of all the threats to wealth management businesses a wrong hiring decision ranks at the front of the queue, as non-performing employees can soon become ‘the enemy within’ causing considerable damage to a company’s client relationships and its brand. ‘Successful Recruitment – Transforming your business through best practice’ is designed to help bullet proof wealth

continue reading

Insurance Schmexperts

From

Just as it seemed the life of a financial adviser would return to mind-numbing dullness after the FoFA brouhaha, the Experts Schmexperts have re-appeared with more great ideas.  What a relief! I was concerned that I would not have anything more to worry about other than focus on my clients, helping them to navigate the

continue reading

Budget on track despite record monthly shortfall

From

The federal budget was in deficit by $43.7 billion in 2011/12 or 3.0 per cent of GDP. At the time of the May 2012 budget the government projected a deficit of $44.4 billion. Government handouts to families and seniors contributed to a record monthly budget deficit of $14.4 billion in June. Receipts from the goods

continue reading

Premium Wealth Management secures new advice firm

From

Platinum Wealth Management has become the latest financial advice practice to join Premium Wealth Management 23 practice-strong dealer network.  Platinum’s group of companies has been in operation for almost 12 years, recently adding wealth management to its suite of client services.  Premium CEO, Paul Harding-Davis, said Premium wasvery pleased to expand its Queensland reach and

continue reading

Powerhouse partnership – Minchin Moore joins Securitor

From

A powerhouse partnership emerges as Minchin Moore Private Wealth joins Securitor Matt Englund, Head of Dealer Groups at BT Financial Group today announced that Minchin Moore Private Wealth has joined BTFG’s Securitor network. “We are delighted to welcome Minchin Moore Private Wealth into the fold as the quality of the business is the right cultural

continue reading

ING to sell Australian investment management unit to UBS

ING announced today that it has reached an agreement to sell its Australian investment management business to UBS. ING Investment Management Australia’s business provides a number of investment strategies and products directly to the Australian institutional and wholesale markets. The business had EUR 24.8 billion (AUD 34.0 billion) in assets under management as of 31

continue reading

S&P Puts 15 ING Funds ‘On Hold’ following sale to UBS

From

S&P Puts 15 ING Funds ‘On Hold’ Due To UBS Global Asset Management’s Intention To Acquire ING Investment Management (Australia) Standard & Poor’s Fund Services has placed 15 funds managed by ING Investment Management (Australia) Ltd. (ING IM)  ‘On Hold’ following today’s announcement that UBS Global Asset Management has entered into a binding agreement to acquire

continue reading

BNY Mellon Asset Management Names Alan Harden as CEO of Asia-Pacific

From

BNY Mellon Asset Management Names Alan Harden as CEO of Asia-Pacific.  He will report to Curtis Arledge, vice chairman of BNY Mellon and chief executive officer of BNY Mellon’s Investment Management division, which includes the asset management and wealth management businesses. Harden joins from ING Investment Management Ltd where he was chief executive officer of the

continue reading

NAB Private Wealth tops private banking awards

NAB Private Wealth was honoured last night at the Australian Private Banking Council 2011 Awards ceremony in Sydney. Private bankers from National Australia Bank won the categories of Outstanding Relationship Manager, Outstanding New Relationship Manager and Industry Thought Leader. In addition NAB Private Wealth itself was named runner-up in the category of Outstanding Institution ($10-$30m).

continue reading