The experience pathway’s passage through Parliament has been welcomed by the industry as a way to prevent further adviser exodus.

ASIC has been rapped for ignoring multiple tip-offs about the $180 million Courtenay House Ponzi scheme, waiting four years to take regulatory action.

Advice firms should be targeting as much as $700,000 per annum per adviser in ongoing advice fees as clients could be willing to pay higher advice fees than advisers are charging, according to WT Financial.

Former van Eyk chief executive, Mark Peter Thomas, has been permanently banned by ASIC for performing any function involved in running or controlling a financial services provider.

The chief executive of Australia’s second-largest super fund, Australian Retirement Trust, is to depart next February.