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"AI mania" will over-promise and underdeliver for financial advisers, while superannuation funds are tipped to give digital advice a boost, Finura Group's 2024 predictions reveal.
Just weeks after the acquisition was announced, Insignia Financial and WT Financial Group have finalised the transfer of Millennium3, adding 75 practices to the latter's network.
WT Financial Group (WTL) will acquire Millennium3 Financial Services (M3) from Insignia Financial for $2 million.
WT Financial believes the “supply-demand equation” is weighted firmly in favour of advisers as it reports its net profit after tax more than doubled in FY2022–23.
According to Wealth Data, less than a quarter of all financial advisers on the ASIC FAR are women, with the accounting and super fund business models having the highest number of female advisers.