Snapshot of the way they were
Table: Snapshot of the way they were:
KPMG Financial Services: Believed to be the largest player with $520 million of funds under advice, 16 advisers and about 1,000 clients.
Table: Snapshot of the way they were:
KPMG Financial Services: Believed to be the largest player with $520 million of funds under advice, 16 advisers and about 1,000 clients.
Deloitte Financial Services: Believed to be the second biggest with about $500 million under advice, 12 advisers and about 500 clients.
PricewaterhouseCoopers: Declined to disclose numbers but says it services the top end of the market and is growing rapidly.
Arthur Andersen: Declined to provide comparative statistics because, it says, it structures its offerings in a somewhat differently to the other Big Five compa-nies.
Ernst & Young: exited financial planning when it sold its stake in Sealcorp.
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ASIC was active in the first quarter of 2025 with several financial adviser bannings and court action, while the FSCP also handed down outcomes to advisers.
With a joint venture announced between WT Financial and Merchant Wealth Partners, the firm may have a US background, but partner David Haintz has a long history with Australian financial advice.
The big four bank is set to see $40 million per annum in cost savings as it continues to migrate customers from its Asgard wealth platform to BT Panorama by FY26.
AMP North has added three new managers to its range of managed accounts for financial advisers and also extended its existing partnership with Betashares.
