With the advice industry experiencing a loss of advisers, holding a solid client book is no longer a requirement as many firms may already have existing clients but lack sufficient advisers.

Announcing record profits of $67.2 million and an increased market share of 6.7 per cent, the firm intends to relaunch an upgraded Core product in September targeting cost-conscious investors.

South Korea’s Mirae Asset Global Investments has made a strategic investment in the robo-adviser, setting the stage to enhance Stockspot’s technology and product offerings.

MLC Life Insurance and PPS Mutual have backed the launch of Risk Hub, a free support platform for risk advisers, with founder Marc Fabris looking to help three types of advisers.

Fund managers are the least bearish since February 2022 with cash weightings shifting into equities and 42 per cent expecting no recession in the next year, according to Bank of America.

Madison Financial Group, a wholly owned subsidiary of Clime, has formed a strategic alliance with Practice Development Group, bringing combined FUA to $8 billion through 130 advisers.

Recognising the benefits of flexible work weeks on productivity, employee outcomes and engagement, two Australian advice firms have shared their successful trial stories with Money Management.