Unadvised Australians ‘oblivious’ to advice benefits: CFS; Sydney advice firm sees ASIC’s first 2024 licence cancellation

With more than one in three consumers unable to identify a single benefit of financial advice, the industry has been urged to better articulate the positive impact of seeking advice and for advised Australians to act as advocates.

ASIC has cancelled the AFSL of a Sydney-based financial advice firm, its first licence cancellation of the new year.

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Hyper-personalisation is among changes that wealth managers could be offering in 2024 as they embrace technology to benefit their clients.

Diverger shareholders have approved its merger with Count in a vote, culminating the “dual growth strategy” pursued by the licensee.

Australia’s sovereign wealth fund has exceeded its long-term investment return target for 2023 despite inflationary pressures as it reaches a record value of $211.9 billion.

BlackRock has highlighted five “mega forces“ impacting investment markets that will change long-term global growth.

The promise of digital advice tools to address the supply/demand inequity is no longer a dream but a very present reality, writes Shaun Green.