Insignia Financial increases remediation provisions by $135m for legacy quality of advice issues.
Insignia Financial has announced a $135m increase in remediation provisions for legacy quality of advice issues. The update revealed that nearly $60m relates to completed assessments for self-employed advisers, while $41m has been provisioned for unfinished assessments. The firm has also completed the separation of Rhombus Advisory, which now operates independently with a 37% stake held by Insignia Financial.
July 22, 2024
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