Australia
Canada’s CI Financial buys majority stake in Australian firm
CI Financial Corp is to acquire an 80% stake in Australian investment fund manager Grant Samuel Funds Management (GSFM), in a move that will see the Canadian wealth manager also gain access to New Zealand.
Aus adviser stole client money to pay Wolf of Wall Street
An Australian financial adviser has been banned after he used client money to pay for a house, cosmetic surgery for his partner, and to repay debts to Jordan Belfort, better known as the Wolf of Wall Street.
ANZ eyes Australian wealth management exit
ANZ Bank is considering selling its life insurance, advice, and superannuation and investments businesses in Australia which would see one of the country’s largest financial institutions effectively withdraw from the wealth management sector.
Retirement | 27 Oct 16
Australian Rops get STM super boost
STM Group Australia’s managing director Stuart Denness is looking to re-energise and reinvigorate the country’s recognised overseas pension scheme (Rops) market following two years of uncertainty.
Australian banks fined $136m over advice failures
Australia’s financial services regulator has told the country’s ‘Big Four’ and leading wealth manager AMP to repay at least A$178m (£111m, €125m, $136m) to more than 200,000 customers after charging them for financial advice they did not receive.