The Financial Advice Association Australia has released its pre-budget submission, including six key items to help reduce the cost of professional advice and increase its accessibility.

Rather than gathering new clients and launching new products, the key focus of asset managers right now is to ensure their existing clients are top priority in a bid to prevent outflows.

With US$4.45 million being the global average cost of a data breach in 2023 alongside the rapid explosion of AI, WTW has emphasised why governance efforts are critical in cyber risk management.

Phil Anderson, general manager for financial advice at the FAAA, believes the CSLR levy could reach $100 million if Dixon Advisory complaints are allowed to continue.

The ETF industry experienced $1.7 billion market cap decline in April, according to Betashares, even with positive inflows driven by international equities products.

Iress has announced it is strengthening its security settings after suffering an unauthorised access of its systems over the weekend.

Proposed legislative changes to safe harbour duty could result in advisers having reduced professional indemnity costs, a joint submission by seven major licensees said.