In this episode of the Daily Financial Services News Wrap, Paige Estritori discusses key updates in the Australian financial sector. Topics include a 67% rise in median advice fees over the past five years, indicating a shift towards premium advisory services and catering to higher value clients. The episode also explores a collaboration between AMP and fintech firm Citro to boost Australians' retirement funds through a cashback reward program. Also covered is a review of Bell Financial Group's diversification strategy amidst a downturn in revenue. Lastly, news from the insurance sector includes an Australian Financial Complaints Authority's order for an insurance broker to settle a substantial declined fire claim, highlighting the role of brokers in risk evaluation.n
