How much Shaw paid for a majority stake in ISG
Australia-based Shaw and Partners will pay $67.5 million for 75% of Investment Services Group (ISG), which owns the Devon Funds, JMI Wealth, Select Wealth, Clarity Funds and TAHITO brands in the wealth management space, chair Paul Glass confirmed.
Australia-based Shaw and Partners will pay $67.5 million for 75% of Investment Services Group (ISG), which owns the Devon Funds, JMI Wealth, Select Wealth, Clarity Funds and TAHITO brands in the wealth management space, chair Paul Glass confirmed.
Shaw is owned by Swiss-based private bank EFG International and the transaction is conditional on the approval of the Swiss Financial Markets Supervisory ...MORE»
NZ sharemarket flat despite export growth, Fletcher Building down againWednesday, June 25th, 6:09PM
The New Zealand sharemarket dipped slightly on Wednesday as trade stocks reported growth after new trade data from Stats NZ showed a growth in exports year on year, but the fallout of Fletcher Building’s investor day continued. MORE» |
Advisers’ fraudulent activity to be rooted out by FMAWednesday, June 25th, 1:25PM
Advisers selling mortgages and insurance through misleading or fraudulent activities are coming under the beady eye of the Financial Markets Authority (FMA). MORE» |
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Clients are expecting advisers to use AI
Consumers are expecting financial advisers to be using AI, and many believe it will them give them better financial advice outcomes.
The largest adviser group in the world, MDRT, is holding its annual conference in Miami this week. It has released a survey that shows that 71% of US consumers who have an adviser say they think advisers should use AI for at least one professional purpose, compared with 53.4% of consumers who don’t have an adviser.
One of the key takeouts was that 54% of those surveyed who believe their adviser ...MORE»
Devon’s parent company gets a new ownerTuesday, June 24th, 8:52AM
Australian-based Shaw and Partners is taking a majority ownership stake in Devon’s parent company Investment Services Group (ISG). MORE» |
QuayStreet to be unplumbed from CraigsSunday, June 22nd, 7:51AM
NZX is planning to unplug its active manager QuayStreet from the Craigs IT platform to encourage more advisers to use the firm’s funds. MORE» |
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