Acclime, a provider of corporate, governance, advisory and fund services across Asia Pacific and global markets, has signed an agreement to acquire the independent trustee and fund administration business from Melbourne.

AZ NGA group chief executive Paul Barrett warned platforms should stay in their lane rather than overstep to improve financial adviser productivity, reiterating that it is the advice business' responsibility to do so.

ASIC has commenced proceedings against Auditeo Australia and two auditors for their involvement in the First Guardian Master Fund failure.

Local experts are observing a growing investment opportunity in Australian advice platforms that may not be as apparent for global investors, but since the sector is currently at its "infancy", many can capitalise on buying low and selling high.