Two-thirds of all licensees are paying over $1 million annually in internal compliance costs, including 13 per cent of those with less than 100 staff and representatives, according to Holley Nethercote.
The financial planning-accounting business model is the only one to have seen growth in its adviser numbers since 1 July 2022, according to Wealth Data.
Although on the fence about the replacement of governor Philip Lowe, economists have welcomed his successor, deputy Michele Bullock, as a sign of structure and continuity at the central bank.
According to Betashares analysis, Australian ETFs have seen $4.8 billion in net inflows since the start of 2023 and total funds under management are expected to cross $160 billion by the end of the year.
The Quay Global Real Estate Fund (Unhedged) has won the award for Global Property Securities Fund of the Year at this year's Money Management Fund Manager of the Year awards in Sydney on 22 June.
Australia’s nascent tech sector was the leader in the last financial year while financials and materials, which make up half the ASX 200, saw slower returns.
