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The decision to scale up a small advice practice can be a difficult judgement call. Money Management speaks with two advisers on whether the potential gains outweigh the initial costs for their business.
Following the announcement of a proposed Advice Services Co at the beginning of the quarter, Insignia Financial has provided further details about this new model for its self-employed licensees.
With Insignia Financial chief executive Renato Mota announcing he will depart in February 2024, Money Management takes a look at his five years in the leading role.
The number of profitable practices channelling their time, capital and resources into self-licensed ventures is on the rise, a trend which larger licensees are observing closely.
Insignia is fast becoming the licensee to feel the biggest brunt of adviser departures, losing 24 this week and over 100 in the past calendar year, which is three times that of rival AMP, according to Wealth Data.
Insignia has announced net profit after tax of $51.2 million for FY23, a rise of 39 per cent from the previous year as it announces a strategic refresh with a 'client wellbeing' division.
AMP chief executive, Alexis George, has shared her thoughts on Insignia’s new ownership model and whether it will follow its footsteps as it expects $50 million in advice losses for FY23.