There may be a trend for advisers opting to set up their own licence, but those contemplating the change have been warned it is not necessarily the right path for every adviser.

The actions of Sydney fraudster Melissa Caddick have resulted in heavy costs for the financial advice subsector, as the FAAA calls for costs of the enforcement action against unlicensed operators to be borne by the whole financial services industry.

As competition heats up between advice firms and accountancies to attract top graduates, Money Management compares the potential salaries of both professions and how they vary by state.

The $211 billion Future Fund has appointed a new chair to replace Peter Costello, who will step down next month after 14 years.

The federal government has released draft legislation making it easier for financial advisers to demonstrate they have a qualified degree and changing the transitional arrangements for tax (financial) advisers.