Advice practices say salaries are taking up almost half of their revenue as the battle for talent heats up in an environment of adviser shortage, according to Business Health and the FAAA.

Almost half of financial services businesses are being sold for cash with sales of up to $8 million, significantly reducing the time taken for parties to transact.

Investment Trends has uncovered the amount of money unadvised Australians are prepared to pay for financial advice, with 1.3 million individuals planning to see an adviser in the next two years.

Hot on the heels of announcing its turnaround strategy, Platinum Asset Management has shared its latest funds under management figures, reporting its largest outflows for six months.

Former Bravura chief executive, Nicholas Parsons, has taken up a new role at funds network Calastone as it looks to bring a digital investment strategy to market.

Treasurer Jim Chalmers has opened a consultation into the design of the annual superannuation performance test, canvassing views on a range of reform options.

Retaining new entrants in the advice industry as they complete their Professional Year is a key focus for advice firms in 2024, with younger generations increasingly valuing workplace culture more than ever.