Latest Financial Services News

Challenger Limited is merging its Fidante funds management business with Channel Capital, creating Channel Group with $150 billion in assets. Challenger will hold a 45% stake and expects a $100 million pre-tax gain in FY27.

WT Financial Group (ASX: WTL) reports robust half-year growth and unveils a $3 billion equity partnership strategy to scale Australia’s largest financial adviser network.

Future Generation Global Limited (ASX:FGG) has updated its special dividend details for the six months ending December 2025, confirming a fully franked 3-cent payout and outlining its dividend reinvestment plan pricing.

TZ Limited (ASX:TZL) is raising $3.08 million through a $0.50 million placement and a $2.58 million entitlement offer at 3 cents per share to repay debt, fund acquisitions, and accelerate product development.

FBR Ltd is set to slash its share count by consolidating every 50 securities into one, impacting ordinary shares, performance rights, and options. The move awaits shareholder approval with critical milestones scheduled throughout July 2026.

Benjamin Hornigold Limited's shares were suspended from trading on 15 June 2026 after the company failed to lodge its required periodic report by the ASX deadline.

Strata Investment Holdings has dismissed a cash acquisition proposal from Freedom BidCo, citing undervaluation, even as it raises A$8 million to fund strategic investments and litigation.

ASX has settled ASIC proceedings over 2022 statements on its previous CHESS project, admitting to misleading the market with a 'progressing well' claim. The settlement includes a $20.5 million penalty and $3 million in legal cost contributions, pending Federal Court approval.

Heartland Group Holdings has satisfied all initial conditions for its acquisition of TSB Bank shares from Toi Foundation, moving closer to a December 2026 merger that will create TSB Heartland Bank Limited.

WCM Global Growth Limited has renewed its on-market share buy-back program for another year, signalling ongoing capital management flexibility amid evolving market conditions.

Magellan Financial Group has won unconditional ACCC approval to merge with Barrenjoey Capital Partners, aiming to complete the deal by early July and rebrand as Barrenjoey Group pending shareholder approval.

TZ Limited has voluntarily suspended trading of its shares on the ASX as it prepares to announce a significant capital raising. The suspension aims to ensure compliance with disclosure rules while the transaction is finalised.