Macquarie Group is consolidating its private bank and private wealth businesses to concentrate its growth strategy on high net-worth (HNW) clients, a move it expects to affect advisers.

High-net-worth investors, particularly the growing Asian cohort, have boosted the global art market by 12% after two years of decline.

Despite numerous initiatives to curb foreign investment, Australia is still a destination of choice for ultra-wealthy investors, according to Knight Frank's wealth report.

Philanthropy is becoming part of the conversation between financial advisers and clients as it's an area increasingly accessible to middle Australians, an estate planning expert says.