Clitheroe flags advice gap

Consumer finance expert Paul Clitheroe, FPA chair Marisa Broome and CHOICE CEO Alan Kirkland highlighted the importance of financial planning and lamented cost burdens that kept ordinary Australians out of the advice system.

Crowded platform market ripe for consolidation

The investment platform market looks due for adjustment as adviser numbers dwindle and more competitors jostle for a seat at the table. A wave of M&A activity and a race for operational scale could be required before the sector’s bright future is fully realised.

Court slaps $50M fine on MLC trustee

In ASIC's largest ever civil action, MLC Nominees and Nulis Nominees have been lumped with a combined $57.5 million worth of penalties after they duped hundreds of thousands of superannuation members into paying for advice that wasn't provided.