Laura Dew

PGIM, the global asset management arm of Prudential Financial, has appointed a new president and chief executive as it embarks on a new chapter of growth.

Praemium is pivoting the business to offer a “white gloves” service as it launches a three-year strategy to be the leading platform for high-net-worth advice.

Count CEO Hugh Humphrey is keen for the firm to be a leader in the new world of advice as the industry generates valuable businesses post-Hayne royal commission.

The strategic partnership with Oaktree Capital and AZ NGA is likely to pave the way for overseas players looking to enter the Australian financial advice market, according to experts.

The former chief product officer at Iress, Aaron Knowles, has joined software firm Bravura Solutions as it seeks to “scale new heights” in global growth.

Online financial advice platform Otivo has made an internal promotion to chief advice officer to ensure the firm’s advisers are providing suitable and compliant advice.

The Compensation Scheme of Last Resort says it has received over 200 claims for compensation relating to personal financial advice since its inception and detailed the specific recurring issues being raised by claimants.

FAAA chair David Sharpe says its members are ready to control their own professional standards via co-regulation as the organisation shares its five-year roadmap.

The FAAA is actively exploring and has sought legal advice on how the problem of phoenixing AFSLs can be avoided to prevent the burden falling on the CSLR and the advice sector.

AMP expects to make a $36 million loss from its advice divestment, while Entireti has announced a new senior leadership structure as the deal completes.