KPMG

While the firms agreed there’s an opportunity to review the regulatory oversight of consulting firms, they told a Senate inquiry they had no plans to voluntarily break up their businesses, despite claims of inherent conflicts of interest.

Economists agree the outlook for house prices in 2023 is largely dependent on upcoming interest rate decisions by the Reserve Bank of Australia, and signs of weakness are already appearing. Complicating matters further, borrowers face an impending fixed-rate cliff.

“Fragmented” service models for advice groups will soon coalesce into three distinct business models according to KPMG’s Future of wealth management report.