ASIC has commenced “urgent proceedings” in the Federal Court of a former Sydney financial adviser amid an investigation regarding fees charged to client super funds.

Insignia has announced net profit after tax of $51.2 million for FY23, a rise of 39 per cent from the previous year as it announces a strategic refresh with a 'client wellbeing' division.

James Shipton has called out his former employer for failing to support or protect him during a six-month abusive ad campaign in 2020 by a defendant charged with offenses instigated by ASIC.

Announcing underlying NPAT of $36.5 million in its FY23 results, the firm has reaffirmed its focus on life insurance and will be exiting financial advice and wealth management under a simplified business model.

Perpetual has announced leadership changes to its asset management executive team as it reports FY23 NPAT down 42 per cent thanks to $8.1 billion in net outflows.