A new advice licensee set up by former WT Financial advisers has helped financial adviser numbers return above the 15,600 mark this week.

The corporate regulator has commenced “urgent” Federal Court proceedings against a Brisbane-based financial adviser in connection to financial advice and activities on client trading accounts.

Pinnacle remains a “standout” fund manager, according to Morningstar, amid a challenging backdrop for active asset management and the addition of a new global equities affiliate from the UK.

Financial services software Iress and digital community platform Ensombl have partnered up to strengthen the technology skills of financial advisers and paraplanners through a new initiative.

Two separate studies have discovered the majority of advised clients prefer to pay a flat fee for financial advice, while unearthing how much they are willing to pay for the service.

ASIC has called on superannuation funds to improve their oversight of advice fee deductions following an investigation of 10 trustees that found $990 million was charged in one year.

In this latest Meet the Manager profile, Money Management speaks with Ophir Asset Management co-founder and portfolio manager Andrew Mitchell.

Platinum Asset Management saw outflows of $1.65 billion in April, partly as a result of redemptions from institutional mandates and product rationalisation initiatives.