Commonwealth Private News Today

Rainmaker Information will welcome Aman Ramrakha as executive director, research this month.

Count Financial has appointed Adrian Hondros to the board as Bruce Foy retires, bringing 35 years of corporate and financial planning experience to the role.

While the nation's biggest bank has completed its retreat from retail wealth management, insurance giant AIA Australia will pick up its clients and offer advice to "lower to middle-income Australians" with "simple wealth needs".

Commonwealth Bank will close the troubled financial planning business that helped spark calls for a banking royal commission and refer customers to insurer AIA.