AMP chief executive Alexis George says 2023 saw advisers looking to join the business again after a difficult few years, as it takes the top spot as Australia’s largest licensee.

Improving Australians’ financial literacy through advice is the best way to achieve greater demand for longevity risk products, according to the FAAA, rather than government intervention.

Robo-adviser offerings and platforms are a source of significant focus for wealth management firms in 2024, according to KPMG, as well as how technology can improve the value and delivery of advice.

AMP has reported an underlying NPAT loss of $47 million in the full-year 2023 for its advice division as it focuses on making advice a standalone business and announced a new chair for its board.

Global fund managers are no longer predicting a recession for the first time in almost two years, according to Bank of America, with bullish sentiment continuing to rise.

In a reversal of muted flows last year, January saw the highest inflows go to international equity ETFs, while the broader ETF market surpassed $180 billion in FUM.

Private credit was the asset class of 2023 and the reactivation of the IPO markets should be a strong signal for the year ahead, writes Andrew Martin.