Latest Wealth Management News

Perpetual Limited will book a non-cash A$63.5 million impairment on goodwill tied to Thompson, Siegel & Walmsley’s International Equity strategy after a major client announced plans to redeem US$4.6 billion in Q2 FY27.

InvestSMART Group Limited swung to a net loss of $575,633 in FY26, marking a sharp reversal from the prior year’s profit, amid a strategic pivot including a pending $16 million sale of its Intelligent Investor business.

EQT Holdings has received a nonbinding takeover proposal from TPG Global valuing the company at A$24.55 per share. The offer hinges on multiple conditions including due diligence, regulatory approvals, and board endorsement.

Fiducian Group posted solid underlying earnings growth in FY2026, boosted by a 7% rise in funds under management, advice and administration, while absorbing a one-off $7.95 million ASIC penalty that halved statutory profits.

Bell Financial Group surged to a $21.7 million half-year profit, more than doubling its net profit on stronger markets and the launch of its Bell Potter Private Wealth platform. The company also lifted its interim dividend by 67%, reflecting confidence in its diversified financial services model.

AMP Limited reported a robust first half of 2026, with statutory profit rising 57% to $154 million and underlying profit up 33%, driven by strong Platforms growth, positive cashflows, and a doubling of China partnership contributions.

Centrepoint Alliance reported a 16% rise in normalised EBITDA to $12.3 million for FY26, exceeding its guidance and lifting its EBITDA margin to 29%. The company’s adviser network grew modestly, while funds under management jumped 48%.

HSBC Bank Australia is selling its AUD36 billion home and personal loan portfolio to Blackstone affiliates, marking a significant step in winding down its Australian retail banking operations. The deal awaits regulatory approvals and is expected to close in early 2027.

HSBC Bank Australia is exiting its retail loan business by selling a AUD36 billion home and personal loan portfolio to Blackstone-managed funds, with completion targeted for early 2027 pending regulatory approval.

ClearView Wealth’s acquisition by Zurich Financial Services Australia has cleared its final legal hurdle, triggering a trading halt and scheduled shareholder payouts including a special dividend and cash scheme consideration.

The Supreme Court of New South Wales has approved Zurich’s acquisition of ClearView, setting a clear timetable for scheme implementation and shareholder payouts.

Raiz Invest reported robust Q4 FY26 growth with active customers climbing 6.7% and funds under management hitting $2.32 billion, while confirming FY26 profitability guidance.