ASIC has cancelled the AFSL of a Gold Coast advice firm, its 10th AFSL cancellation since the start of the year with the majority being advice firms.

Career changers, such as accountants and teachers, are a valuable demographic for potential advisers as industry commentators say adviser numbers are “not touching the sides” of consumer demand.

The latest budget papers have outlined a $10 million provision for ASIC greenwashing enforcement activity as well as funds for a sustainable labelling regime to be partially met by industry levies.

Global investment giant Vanguard has appointed a new global CEO to replace Tim Buckley who steps down after more than 30 years with the business.

Iress’ investigation of a cyber breach that occurred last weekend has found it affected its OneVue production environment which contains client data.

The latest monthly Bank of America Global Fund Manager Survey has found investors are starting to shift cash into bonds as cash allocations reach a three-year low.

There are multiple reasons for advisers to consider an allocation to gold when building client portfolios beyond its diversification purposes, writes Jean-Baptiste Berthon.