Weekly wrap: Hartleys Limited pays $35,000 infringement notice penalty

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Hartleys Limited has paid a penalty of $35,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel.
The penalty was for the entry of an erroneous order which resulted in a market for Tanami Gold NL fully paid ordinary shares not being both fair and orderly.
 
Infocus Wealth Management today confirmed it has moved to independent ownership, with the shares held by major institution MLC being bought back by existing shareholders of the group.
This means Infocus is now one of a handful of independent wealth management firms operating in the market. Managing director Rod Bristow is delighted with the outcome. “We believe that offering Australian consumers genuine choice for their financial advice is essential to a healthy marketplace. Being independently owned means we are now in this unique position,” he said.
 
With a vision of becoming the leading service provider for non-aligned Australian Financial Services Licensee (AFSL) partners in Australia, Actuate Alliance Services has rebranded to SFG Alliance Services.
Dan Powell, head of SFG alliance services, said the rebrand is in line with SFG Australia Limited’s aim to consolidate its brands in the financial services market place. “Sharpened branding will make SFG Alliance Services, which provides key support and expertise for boutique AFSL businesses that wish to retain control of and be responsible for managing their own licence, more recognisable to those businesses,” he said.

After almost 40 years in the industry, veteran Bob Van Munster has decided to retire as Tyndall AM’s head of Australian equities in September 2014. 
Brad Potter has been appointed as the new head of Australian equities effective from 1 June 2014, with Mr Van Munster remaining in the business for a further three months. Potter joined Tyndall in 2002 and has 20 years’ industry experience. He has been co-managing Tyndall’s flagship Australian equity strategy with Van Munster for the past seven years and in that time has delivered strong and consistent outperformance to clients.

Dalton Nicol Reid has today announced the appointment of Robert White as its new CEO and head of distribution.  
Jamie Nicol, the director and CIO said the new appointment was a positive step because it will allow the business to continue on its current growth trajectory. “Dalton Nicol Reid has passed some significant milestones lately. In the last six months, we have secured two institutional mandates, our funds under management have reached $850m, and we have broadened both our investor and shareholder bases.  We also bid farewell to our former CEO and one of our founders, Harley Dalton.” 

Morningstar's head of equities research and author of Huntleys' Your Money Weekly Overview, Peter Warnes, has been secured to deliver a keynote speech at the company’s SMSF trustee strategy day.
The annual conference, which runs this year in locations around Australia from 7-11 April, will feature discussions from experts about key legislative updates and practical investment strategies.

Public sector financial advice specialist, State Super Financial Services (SSFS), has announced the appointment of James Panaretos to its newly created role of general manager of business development.
In line with SSFS’ strategic aim of providing specialist financial advice to public sector members of superannuation funds, Panaretos will be responsible for providing leadership across institutional sales and relationship management.

Pengana Australian Equities Fund has generated a return of 7.3% for the twelve months ended 28 February 2014.
By way of comparison the Share Market was up 10.4% in the ongoing low interest rate environment. Since the inception of the fund on 1 July 2008, it has generated a return of 12.7% p.a., rewarding investors with 8.8% p.a. above the Reserve Bank Cash Rate of 3.9% p.a. and against a backdrop of returns from the Australian All Ordinaries Accumulation Index of 4.8% p.a. over the same period.


 
 
 
 
 


 

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