The chief executives of AMP and Insignia have shared their thoughts on how regulatory and technological developments can help a largely underserved “middle Australian” population from falling through the cracks of financial advice.

A quarter of fund managers surveyed by Frontier have named the move towards internalisation by super funds as the biggest challenge to their business as they seek to retain super mandates.

ASIC has indicated its disappointment that “little improvement” has been made on the reportable situation regime but financial advice breaches have declined over the year.

Membership of the FAAA declined by 11.7 per cent in the last financial year, according to its 2023 annual report, three times faster than the overall decline in adviser numbers over the period.

Diverger has confirmed a rival bidder has put forward a competing proposal for acquisition, though Count continues to be the frontrunner in the eyes of the board.

A global advisory firm has been ordered by the Federal Court to freeze its funds and assets for failing to lodge financial statements.

Sequoia Financial Group has welcomed an additional five financial advisers to its ranks, reporting positive adviser growth in three out of four weeks this month, according to Wealth Data.

A former Ord Minnett financial adviser, who is being sued by the firm, has been temporarily banned from contacting her former clients after it was found 17 clients moved over to her new employer.

Appearing at Senate estimates, ASIC deputy chair Sarah Court has claimed the $7.2 million penalty issued to Dixon Advisory was made to send a “deterrent message” as the fine is unlikely to ever be paid.

There were over 20 winners at the 2023 Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award.