ASIC has cancelled the Australian Financial Services Licence of MWL Financial Services and banned MWL’s director Nicholas Maikousis for 10 years over conduct in relation to the Shield Master Fund.

Bell Financial Group co-CEO Arnie Selvarajah believes regulation will make the provision of episodic advice easier for consumers and is pivoting the business over the next two years to focus on wealth management.

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the professional landscape.

Financial planning technology provider GBST has completed a significant upgrade of its Composer platform for its APAC clients.

Asset and wealth manager Prime Financial Group is looking to M&A and technology for future growth after growing its FUM by 58 per cent in FY25.

Intelliflo has been acquired by global investment firm Carlyle for $200 million, stating it wants to accelerate the software firm’s growth in Australia.

Centrepoint Alliance, the third-largest advice licensee, has reported 40 per cent growth in its managed accounts business, but profits fell by a third.

ASIC has launched civil penalty proceedings in the Federal Court against Equity Trustees for its role in the Shield Master Fund failure.

Self-licensing specialist My Dealer Services has announced partnerships with five businesses, including Morningstar and Peloton Partners, to expand its service offering.