An authorised representative of Capstone Financial Planning has been permanently banned for misappropriating more than $650,000 in client funds.

Clime has entered into a heads of agreement to divest Madison Financial Group to a rival licensee for $2 million.

Insignia’s advice reorganisation could solidify its reputation as Morningstar warns the firm’s brand integrity and profitability are at risk from declining adviser numbers.

A former financial adviser based in the Sunshine Coast has been permanently banned by ASIC after being sentenced to six years’ imprisonment for fraud.

Centrepoint Alliance has the opportunity to sneak up from behind while the three major licensees are distracted as CEO John Shuttleworth tells Money Management that it aims to “be stable in a sea of turmoil”.