State Street's global chair for its ETF business says it will continue to be anchored to adviser-led distribution in Australia and not seek to launch a direct-to-consumer push.

The co-founder of iPac Securities believes the issues that saw the big banks exit wealth management will pale in significance to future failures he expects will come as a result of "fringe" advice groups.

CountPlus has acquired a 30% stake in DMG Financial Holdings.

Two major insurance providers have cleaned up at the Association of Financial Advisers' Life Company of the Year and Consumer Choice Awards.