Australia Archives - Page 2 of 6

Aussie regulator freezes assets of director and his four firms

They allegedly obtained A$2.5m by misleading investors

It is only interested in established advisers with a clean history.

The business has been spun out of AMP Capital.

The firms have been working in close partnership for more than a decade.

The firms also agree a superannuation funds merger.

The deal adds $267m in funds under management.

The Australian firms intends to develop its wealth and banking businesses.

It will focus on hubs in Malaysia, Singapore and Australia alongside its head office in Hong Kong.

Both inflows and AUM of the asset class have grown exponentially, according to a Cerulli Associates report.

More banks were introduced on Raiz’s platform in Malaysia as its exclusivity agreement with Maybank expired last month.