According to the Financial Advice Association Australia, upgrades to its Find a Planner platform will make it easier for potential clients to connect with a financial adviser that matches their needs.

The Institute of Financial Professionals Australia has partnered with advice fintech moneyGPS, giving its members and their clients access to the platform.

Two CEOs and a recent report have underscored how the current period of M&A, led by large buyer groups, is redefining the financial advice profession and creating a notable “purple patch”.

The FAAA has argued against “prescriptive record keeping obligations” in favour of advisers using their professional judgement.

Outsourcing company Vital Business Partners has taken a minority equity stake in a digital platform for financial advisers, which will help fund its future growth plans.

GQG’s funds under management has continued to climb after surpassing US$150 billion earlier this year.

Platinum Asset Management’s funds under management was $12.23 billion at the end of August, down from $13.03 billion in July.

The advice profession lost 15 advisers over the past week, according to Wealth Data, partly due to a lower number of new entrants and advisers transitioning between licensees.

The regulator says it secured $32.2 million in civil penalties and nine criminal convictions in the six months to 30 June.

Money Management examines how the experienced provider pathway has impacted the advice industry, one year since it was passed on 6 September 2023.