ASIC permanently banned a former Financial Wisdom financial adviser from working in financial services.

The Association of Financial Advisers has stepped up its opposition to the Royal Commission's final report, claiming the inquiry failed to acknowledge the value of advice.

Westpac is realigning its wealth strategy and BT Financial Group will cease as a standalone division. The group has also agreed to sell a number of advisers to Viridian Advisory.

The share of financial advisers using ETFs for their clients has increased last year, according to the latest BetaShares Investment Trends ETF report.