Professionalisation of the financial advice industry needs to be balanced with the adviser shortage, according to Minister for Financial Services, Stephen Jones, as he confirms the experience pathway could soon pass parliament.

Magellan has made a high-profile board hire with the appointment of the former co-CEO of a $460 billion ASX-listed fund manager.

Insignia is to launch a partnership ownership model for self-employed licensees within months, known as Advice Services Co, as it seeks to become Australia’s largest adviser-owned licensee group.

CPI inflation has slowed in the June 2023 quarter with the ABS reporting the lowest quarterly rise since September 2021.

ASIC has lodged civil penalty proceedings in the Federal Court against Vanguard Investments Australia for alleged greenwashing, having previously issued the asset manager with three infringement notices last December.