The final dividend increases 20.8 per cent but overall dividends...

The final dividend increases 20.8 per cent but overall dividends for FY 23 (compared to FY 22) have only risen 2.2 per cent, way below CPI of c.7 per cent.

And to get there, this year's dividend represented about 77% of the EPS when a mid-sixties percentage is a more typical number for recent years.
Having said that, they aren't stretching their finances with this payment so it's all good.
The thing about this business is that running all the normal measurements across a result doesn't always tell much.
There's no outstanding moat available, and there's no real underlying recurring business given the options available to clients at any time - so no sticky customers which analysts love to talk about.
And then there's the whims of stock market SP's which can do all sorts of things to FUM and FUM performance.
The current dearth of quality advisors means that paying over the odds to retain them may be the natural outcome of a never-ending battle referred to by @Klogg

But what I think we have here is an underlying thesis that suggests that the superannuation pie will get progressively bigger and a company that seems to be thoughtful and prudent about the way they move forward resulting in the hope that they can gain a bigger share of that pie.