Wealth

The wealth management software group announced plunging profits for the first half of the 2021 year as it conceded the COVID crisis had disrupted its new business pipeline.

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ASIC has launched civil penalty proceedings against CommSec and AUSIEX for “systemic compliance failures” over a “significant period of time”.

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New research has revealed the top platforms in the Australian market according to adviser preferences, with one listed company narrowly overtaking its rival to secure the number one spot.

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HUB24 has outlined expectations it will double the funds administrated by its platform in the next two years, as it has managed a 39 per cent growth in profit.

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The platform provider lured $4.5 billion in net inflows for administrated funds during the first half of the 2021 financial year, with its profit rising by more than a third.

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