| Netwealth's Strategic Move: A Tailored Platform for High-Net-Worth Investors Wed, 23 Jul: Netwealth has unveiled plans for a new and sophisticated platform targeting high-net-worth individuals (HNWIs), marking a strategic response to the evolving needs of Australia's investment and financial advice industry. This announcement comes as the company urges the broader financial advice sector to expand its offerings to match the changing demands of modern investors. - read more
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| Industry Leaders Collaborate to Launch Innovative Retirement Solution Wed, 23 Jul: In a significant move within the Australian finance sector, Insignia Financial's MLC has joined forces with leading insurance provider TAL and wealth group Challenger to introduce a ground-breaking ‘centre of excellence’ for retirement solutions. This initiative, centred around MLC’s new Retirement Boost product, aims to revolutionise how Australians manage their retirement finances. - read more
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| RBA Surprises Markets by Holding Interest Rates Steady Wed, 23 Jul: The Reserve Bank of Australia (RBA) delivered an unexpected twist at its recent monetary policy meeting by deciding to keep the official cash rate (OCR) at 3.85%. This move contradicted the expectations of financial analysts, who were nearly unanimous in predicting a reduction in the rate. Market forecasts had virtually priced in a rate cut, highlighting the RBA's surprising break from anticipated action. - read more
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| NSW Workers’ Compensation Scheme Faces Major Overhaul Amid Underinsurance Issues Wed, 23 Jul: The New South Wales State Insurance Regulatory Authority (SIRA) has identified critical issues of underinsurance and employer non-compliance within the icare workers’ compensation scheme. A recent review highlighted that over $60 million in premiums were not collected due to missing wage declarations, with about 75% of employers audited showing non-compliance responsible for an additional $24.5 million in unpaid premiums. - read more
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| Insurer Prevails in Vehicle Value Dispute Wed, 23 Jul: In a recent ruling by the Australian Financial Complaints Authority (AFCA), a protest from a car owner against her insurer, RAC Insurance, regarding the reduction of her vehicle's agreed value has been dismissed. The case arose after the complainant made a total loss claim following an accident in October, only to discover that her vehicle's value had been adjusted down to $29,700 from a previous total of $40,000. - read more
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| Microsoft Under Fire After Major SharePoint Security Breach Tue, 22 Jul: Microsoft is grappling with an alarming security breach affecting its SharePoint collaboration software, impacting organisations and government entities globally. The Cybersecurity and Infrastructure Security Agency (CISA) recently unveiled the vulnerability, warning that it permits unauthorised access to systems and complete access to SharePoint content, enabling malicious actors to execute code across networks. - read more
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| BetaShares Unveils Trellia Wealth Partners with $8 Billion FUM Following Merger Tue, 22 Jul: BetaShares has announced the launch of Trellia Wealth Partners, a new entity formed through a strategic acquisition. The newly established firm will operate independently, boasting $8 billion in funds under management (FUM) and offering a range of investment options including index-based, active, and bespoke managed accounts. Additionally, Trellia Wealth Partners will provide advanced tools and technology aimed at enhancing efficiency and delivering superior client experiences for financial advisers. - read more
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| AMP Superannuation Sees Positive Inflows Post-Royal Commission Turmoil Tue, 22 Jul: AMP Limited has marked a critical milestone, announcing that its superannuation funds have witnessed positive net inflows for the first time since 2017. This turnaround follows the reputational challenges it faced during the Royal Commission into Misconduct in the Banking and Financial Services sector, which severely impacted AMP's standing as a favoured destination for corporate superannuation funds. - read more
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| Australia Moves Forward with Standardised Green Investment Labels Tue, 22 Jul: The Australian Labor government is advancing plans to implement standardised sustainability labels across various investment products, including superannuation and managed funds. This initiative aims to aid consumers in making informed decisions while curbing potential greenwashing practices. Minister for Financial Services Daniel Mulino, alongside Treasurer Jim Chalmers, formally announced the opening of a public consultation on this new labelling framework, marking Mulino's debut policy action since assuming his new ministerial role in May. - read more
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| Key Sectors to Gain from Australia's Population Surge Tue, 22 Jul: Australia's growing population is poised to significantly benefit the housing, healthcare, and financial services sectors, according to insights from Datt Capital. The country experienced a net population increase of 667,000 in 2024, primarily driven by overseas migration, far exceeding the projected annual figure of 200,000. - read more
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| Insurers Urged to Ensure Fairness Before Stopping Payouts Tue, 22 Jul: The Australian Financial Complaints Authority (AFCA) has highlighted the importance of procedural fairness in a ruling against TAL, a major life insurer. The directive stresses that insurers must allow customers an opportunity to respond before ceasing their benefits. This ruling came after TAL halted payments under an income protection policy from May 2023 to February 2024, issuing a procedural fairness letter only in June last year, months after payments ceased. - read more
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| Call for Comprehensive Review of Group Insurance in Australia Tue, 22 Jul: Super Consumers Australia is urging a thorough examination of group insurance policies due to a surge in mental health-related claims. The advocacy group is pushing for the Productivity Commission to conduct a comprehensive review, ensuring Australians receive value from the billions spent annually on life insurance premiums within superannuation. - read more
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| US Market Uncertainty Bolsters Australia's 'Safe Haven' Appeal Mon, 21 Jul: Amidst global market fluctuations, concerns over inflated equity valuations have been significantly eased, with Australia's financial landscape emerging as a beacon of stability. Ten Cap, a boutique equities specialist from Australia, has expressed confidence in the resilience of the equity markets, which are navigating various challenges including trade disputes, geopolitical tensions, and unpredictable commodity prices. - read more
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| Superannuation Resilience Amid Market Volatility in 2024-25 Mon, 21 Jul: Superannuation funds in Australia have demonstrated their resilience, showing robust long-term investment performance despite market volatility, according to the latest Super Ratings results for the financial year ending June 2025. The data highlights strong returns, led by international technology and Australian financial shares, which have helped mitigate the challenges posed by fluctuating markets. - read more
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| RBA's Interest Rate Stance and Government Measures Propel Australian House Prices Upwards Mon, 21 Jul: Australian housing market sentiment has shown a notable upswing, as recent data indicates an increase in consumer confidence towards property prices. The Westpac consumer sentiment index illustrates this shift, aligning with a resurgence in the 'time to buy a dwelling' index, suggesting growing optimism about housing investments. - read more
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| Tasmanian Liberals Propose State-Backed Insurance Amid Criticism Mon, 21 Jul: The Tasmanian Liberal Party, under Premier Jeremy Rockliff, is advocating for a state-backed general insurer—TasInsure—should they win the upcoming state election on July 19. This initiative aims to mitigate rising insurance premiums allegedly caused by the national market's failures. However, the plan has been met with strong opposition from private insurers and critics who question its viability. - read more
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| Investors Advised Against Overvalued Markets Amid Economic Uncertainty Fri, 18 Jul: In a market swayed by trade tensions and geopolitical uncertainties, investors are encouraged to remain cautious of inflated valuations. The mid-year outlook from Schroders warns against ignoring these issues, despite the market's surprising resilience to economic pressures. - read more
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| AustralianSuper Faces Backlash Over Coal Investment Decision Fri, 18 Jul: AustralianSuper, one of Australia's largest superannuation funds, is facing significant backlash from its members after reversing a previous decision to divest from coal mining. Despite previous commitments to achieve net zero emissions, AustralianSuper has invested approximately $395 million in Whitehaven Coal. This move comes after a 2020 decision to divest from the company, and has stirred considerable discontent among members who are committed to sustainable investments. - read more
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| New Zealand's Dramatic Housing Market Shift: What it Means Fri, 18 Jul: New Zealand has undergone a dramatic shift in its housing market. During the COVID-19 pandemic, the country experienced one of the globe's most significant housing price surges, with median home values hitting 11.2 times the median household income, as reported by Demographia. However, this boom has swiftly turned into one of the most substantial housing price declines worldwide, significantly enhancing housing affordability across New Zealand. - read more
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| Gen Z Chooses Buy Now, Pay Later Over Traditional Credit Cards Fri, 18 Jul: Amid shifting financial attitudes, Generation Z in Australia is increasingly abandoning credit cards in favour of buy now, pay later (BNPL) platforms like Afterpay, Klarna, and Zip. This demographic perceives credit cards as financially perilous, partly due to the high interest rates and potential for debt accumulation. A Queenslander, Nat, shared her story of accruing thousands in credit card debt to finance a university laptop, which led to anxiety over her financial future. - read more
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| AFCA Sides with Policyholder in Storm Damage Dispute Fri, 18 Jul: A recent ruling by the Australian Financial Complaints Authority (AFCA) has favoured a policyholder in a dispute with insurer Auto & General over storm damage. The case involved a collapsed ceiling, initially attributed to a storm by the insurer before an about-face led them to deny the claim. The AFCA decision marks a significant instance where consumer protection mechanisms have countered an insurer's attempt to deny coverage. - read more
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| Industry Push for Digital Death Benefit Nominations in Super Funds Thu, 17 Jul: In light of substantial criticism and penalties faced by some industry superannuation funds regarding delays in processing death benefits, a major representative group is advocating for legislative reform to digitalise binding death benefit nominations. The Super Members Council (SMC) has formally requested the government expedite changes to streamline this process. - read more
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| ASIC Penalises Two Licensees for Unregistered Financial Advice Thu, 17 Jul: The Australian Securities and Investments Commission (ASIC) has taken enforcement action against two financial planning licensees for permitting unregistered advisers to provide personal financial advice. This regulatory action involved Sky Money Pty Ltd and Smart Financial Capital Pty Ltd, who were each required to pay infringement notice penalties amounting to $31,300 in early July 2025. - read more
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| Record $226 Million Recovered in Unpaid Superannuation Amid Ongoing Compliance Efforts Thu, 17 Jul: In an impressive financial year milestone, Industry Fund Services (IFS) reported recovering over $226 million in unpaid superannuation for the 2024-25 fiscal period. This achievement contributes to their accumulated recovery total surpassing $2 billion. This development runs parallel with the proposed legislation of the Payday Super scheme set to commence on 1 July 2026, highlighting ongoing efforts to enhance superannuation compliance across the nation. - read more
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| Unemployment Rate Rises as Australian Labour Market Cools Thu, 17 Jul: Australia's strong labour market showed signs of cooling in June, with the latest figures from the Australian Bureau of Statistics revealing an increase in the unemployment rate to 4.3 per cent, up from 4.1 per cent in May. This slowdown in employment growth, with only a modest increase of 2000 jobs, adds to the pressure on the Reserve Bank to consider future interest rate cuts. - read more
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