This episode of the Daily Financial Services News Wrap hosted by Paige Estritori focuses on recent industry developments. Macquarie Investment Management is streamlining their Wrap platform, reducing over 240 funds for an improved investment process. Gen Z's underrepresentation in financial advice is addressed, with high costs & industry bias acting as barriers. Industry change is needed, with strategies such as involving family members in financial planning and increasing transparency. Furthermore, financial platform Netwealth calls for government intervention following the collapse of the First Guardian Master Fund, underscoring the necessity for vigilance in financial industries. Lastly, a study from the Apt Wealth Partners reveals a gap in estate planning amongst Australian retirees, emphasizing the need for beneficiary education and professional guidance.