ASIC has shared how many Australian financial services licences were granted and rejected by the corporate regulator in the 2022–2023 financial year.

Two new reports from CFS and Challenger have highlighted the benefits consumers gain from seeking advice as over half of those aged 50 and over fear outliving their savings amid the cost-of-living crisis.

TelstraSuper, Aware Super, Australian Retirement Trust, HESTA, and UniSuper are some of the prominent super funds that have qualified as finalists this year.

Insignia is fast becoming the licensee to feel the biggest brunt of adviser departures, losing 24 this week and over 100 in the past calendar year, which is three times that of rival AMP, according to Wealth Data.

The law “should not continue to assume that financial advice is being given by a person”, according to Michelle Levy, as she hints that advice from superannuation funds could be given by a digital advice tool.