Financial Services Council chief executive, Blake Briggs, has shed a light on the need for industry body consolidation and how meaningful engagement between groups has brought the advice debate to where it is today.

Financial investment advisers have been identified as a job experiencing a national skills shortage while a Treasury report has found migrant advisers are among the least likely to be working in their chosen field.

Justice Mark Moshinsky has ruled a timeline for mediation between AMP Financial Planning and Equity Financial Planners to begin, and a former planner has called for the firm to “do the right thing” by paying advisers and rebuilding its reputation.

Court documents have revealed how former Melbourne adviser, Terence Nugara, was able to steal $10 million from his clients by promising returns as high as 98 per cent from bogus property developments.

After growth of more than 30 last week thanks to record advice exam results, the financial advice profession has once again backtracked with double-digit losses, Wealth Data reveals.

A Queensland financial adviser has detailed how the latest ASIC levy increase has caused him to double the ongoing advice fee for his clients to meet the cost.

A former financial adviser who pled guilty to stealing $10 million from his clients to spend on boats and helicopters has been sentenced in a Melbourne court, with the judge describing his conduct as “reprehensible”.

The last three months have seen at least three high-profile court cases involving adviser misconduct, keeping the corporate regulator on its toes to wrap up a busy quarter.

EY believes there is a benefit for banks in returning to the wealth space and developing decumulation products for consumers entering retirement.

The Senate economics reference committee has shared data from the Commonwealth Director of Public Prosecutions on the number of prosecutions referred to it by ASIC in the last financial year.