News image: Millionaire's Controversial Financial Advice to Cope with Cost of Living Crisis Millionaire's Controversial Financial Advice to Cope with Cost of Living Crisis
Tue, 25 Mar: A 53-year-old Australian millionaire has sparked conversation with his advice on managing financial stress amid the current cost of living crisis. Speaking in a social media segment by the app Coposit St, known for aiding Australians in saving for home loans, the semi-retired individual spoke candidly about his financial strategies. - read more
News image: Active Super Fined $10.5 Million for Misleading Green Claims Active Super Fined $10.5 Million for Misleading Green Claims
Tue, 25 Mar: The Federal Court has imposed a substantial $10.5 million fine on Active Super for presenting misleading assertions regarding its environmental credentials. This significant legal outcome stems from actions initiated by the Australian Securities and Investments Commission (ASIC) against the super fund for allegedly misrepresenting its sustainable investment practices. - read more
News image: Value Seekers Fuel Melbourne's Property Price Resurgence Value Seekers Fuel Melbourne's Property Price Resurgence
Tue, 25 Mar: Melbourne's property market is experiencing a notable rebound in house prices, driven primarily by value-conscious buyers looking for more affordable options. According to CoreLogic's latest house price report, Melbourne has emerged as the most affordable major capital city in Australia, with a median home price of $772,561 as of February 28, 2025. - read more
News image: Urgent Reforms Needed to Curb Rising Motor Insurance Premiums Urgent Reforms Needed to Curb Rising Motor Insurance Premiums
Tue, 25 Mar: The Insurance Council of Australia (ICA) has called for urgent action to address the factors driving the significant rise in motor insurance premiums. In a detailed policy paper, the ICA has outlined a strategic plan, urging government intervention to address key issues like labour shortages, supply chain disruptions, and inefficiencies in accident management practices. - read more
News image: Perpetual Invests $60M in Osmosis' Sustainability Fund Perpetual Invests $60M in Osmosis' Sustainability Fund
Mon, 24 Mar: Australian investment manager Perpetual has committed AU$60 million to the UK-based Osmosis Resource Efficient Core Equity Fund as part of its Responsible Investment Multi-Manager Program. This flagship fund focuses on sustainability by targeting companies that demonstrate superior resource efficiency compared to their industry counterparts. - read more
News image: Pre-Budget Survey Reveals Urgent Concerns Over Superannuation and Aged Care Pre-Budget Survey Reveals Urgent Concerns Over Superannuation and Aged Care
Mon, 24 Mar: As anticipation builds for the 2025-26 Federal Budget announcement, a recent survey by Viridian Advisory highlights a surge in client concerns regarding superannuation, aged care, and cost-of-living pressures. The findings reveal that 82% of advisers identified changes to superannuation, especially the upcoming updates to Division 296, as a principal interest for their clients. This legislation, introduced last year, imposes an additional tax on super balances exceeding $3 million. - read more
News image: Superannuation Funds Advocate for Extended Breach Reporting Timeframe Superannuation Funds Advocate for Extended Breach Reporting Timeframe
Mon, 24 Mar: Superannuation funds have approached the Australian Securities and Investments Commission (ASIC) with a proposition to extend the period for breach reporting from 30 days to 60 days. Through the Association of Superannuation Funds of Australia (ASFA), these funds have expressed support for ASIC’s suggested changes but argue that the proposed timelines are insufficient for effective rectification and remediation. - read more
News image: ASIC Flags Concerns Over Small Amount Credit Contracts Compliance ASIC Flags Concerns Over Small Amount Credit Contracts Compliance
Mon, 24 Mar: The Australian Securities and Investments Commission (ASIC) has unveiled a report titled 'Falling short: Compliance with the small amount credit contract obligations' (REP 805), highlighting compliance issues within the sector. The review covered Australian credit licensees offering small amount credit contracts between December 2022 and August 2024, following regulatory changes in 2022 and 2023. - read more
News image: Car Theft Claims Skyrocket, Raising Insurance Concerns Car Theft Claims Skyrocket, Raising Insurance Concerns
Mon, 24 Mar: The Insurance Council of Australia has unveiled substantial data revealing that the expense related to vehicle theft claims has almost doubled since 2015. Last year, the industry handled $428 million in claims, signaling a stark increase from $218 million a decade ago. The data comes from Insurance Statistics Australia, which has adjusted historic dollar values for inflation, highlighting an urgent trend in rising car crime claims. - read more
News image: Australian Institutional Investors Target Niche Private Markets Australian Institutional Investors Target Niche Private Markets
Fri, 21 Mar: Current research by Nuveen reveals a burgeoning interest among Australian institutional investors in niche private market opportunities. The latest Equilibrium Global Institutional Investor Survey indicates that 75 per cent of Australian institutional players plan to boost allocations to private markets over the next five years. This is a significant increase compared to the global figure of 66 per cent. - read more
News image: Challenges Loom for Insurance Within Australian Superannuation Challenges Loom for Insurance Within Australian Superannuation
Fri, 21 Mar: A recent report by Mercer has highlighted significant threats to the insurance coverage offered through superannuation funds in Australia. Current statistics reveal that only 50% of superannuation members are covered, a figure that has reduced considerably, reflecting a broader issue within the sector. - read more
News image: Unexpected Unemployment Data Sparks RBA Rate Cut Speculation Unexpected Unemployment Data Sparks RBA Rate Cut Speculation
Fri, 21 Mar: The latest labour market statistics from the Australian Bureau of Statistics (ABS) presented a mixed picture, despite initial promising indicators. Although the headline unemployment rate in February remained steady at 4.1% (or 4.05% considering unrounded figures), there was an unexpected decline in employment numbers. - read more
News image: Uninsured Driver Denied Compensation in Dispute with QBE Uninsured Driver Denied Compensation in Dispute with QBE
Fri, 21 Mar: The Australian Financial Complaints Authority (AFCA) has ruled in favour of QBE Insurance in a case where an uninsured driver attempted to secure compensation following a collision involving a fire truck. The incident occurred when the QBE-insured driver paused at an intersection to allow a fire truck to pass, leading to the uninsured driver impacting their vehicle. - read more
News image: FAAA Launches Comprehensive Guide for Young Australians Entering the Workforce FAAA Launches Comprehensive Guide for Young Australians Entering the Workforce
Tue, 18 Mar: In celebration of Global Money Week 2025, the Financial Advice Association Australia (FAAA) has introduced a robust resource titled A Guide to Starting Your First Job. This initiative aims to equip young Australians with essential tools and knowledge to navigate the transition into employment with confidence and financial prudence. - read more
News image: ASIC Targets Non-Compliant SMSF Auditors ASIC Targets Non-Compliant SMSF Auditors
Tue, 18 Mar: The Australian Securities and Investments Commission (ASIC) has intensified its scrutiny on self-managed superannuation fund (SMSF) auditors by taking decisive action against 17 auditors in the last half of 2024 due to misconduct concerns. This move underscores ASIC's commitment to maintaining integrity in the financial sector. - read more
News image: OECD Warns of Sluggish Australian Economic Growth Amid Global Trade Concerns OECD Warns of Sluggish Australian Economic Growth Amid Global Trade Concerns
Tue, 18 Mar: The Organisation for Economic Co-operation and Development (OECD) has issued a warning about a potential slowdown in Australia's economic growth over the next two years. This prediction comes against the backdrop of heightened global uncertainty, spurred by trade policies introduced by US President Donald Trump. The OECD projects Australia’s GDP to rise to 1.9% in 2025 but slip slightly to 1.8% in 2026, falling short of earlier expectations laid out in their December report. - read more
News image: Consumer Advocacy Calls for $250 Million Annual Insurer Contribution Fund Consumer Advocacy Calls for $250 Million Annual Insurer Contribution Fund
Tue, 18 Mar: A prominent consumer advocacy group, the Australian Consumers Insurance Lobby (ACIL), is advocating for insurers to contribute $250 million annually to support disaster risk mitigation, as well as the affordability and availability of insurance coverage. This initiative seeks to address what the organization describes as an escalating crisis within the insurance industry. - read more
News image: Surge in Managed Account Usage Among Australian Advisers Surge in Managed Account Usage Among Australian Advisers
Mon, 17 Mar: Managed accounts have become a prevalent choice among Australian financial advisers, with recent research unveiling that nearly 59% of advisers now incorporate them into client portfolios. This figure represents a notable rise from 56% the previous year, according to a study conducted by Investment Trends in collaboration with State Street Global Advisors (SSGA). - read more
News image: Addressing the Global Retirement Savings Dilemma: Amundi’s Eye-Opening Research Addressing the Global Retirement Savings Dilemma: Amundi’s Eye-Opening Research
Mon, 17 Mar: Recent findings by the Amundi Investment Institute underscore a pressing issue affecting global economies: a persisting retirement savings crisis fueled by both behavioural challenges and a lack of awareness. The institute’s report highlights that a significant portion of the global population faces financial insecurity as they approach retirement age. - read more
News image: Sydney Leads Australia's Housing Market Resurgence Sydney Leads Australia's Housing Market Resurgence
Mon, 17 Mar: CoreLogic's latest preliminary auction results have revealed Sydney's dominant role in Australia's housing rebound, with an impressive clearance rate of 71.4%. This marks the sixth consecutive week that the auction clearance rate in Sydney has surpassed 70%. - read more
News image: Insurer Prevails in Fraudulent Rental Claim Dispute Insurer Prevails in Fraudulent Rental Claim Dispute
Mon, 17 Mar: The insurer QBE has successfully reversed a payout concerning a fraudulent rental claim, as determined by the Australian Financial Complaints Authority (AFCA). The controversy arose from a claim lodged under an owners’ corporation residential strata plan for water damage and subsequent rental losses dating back to a January 2022 storm. - read more
News image: Individualisation of Managed Accounts Poised to Revolutionise Financial Advice Individualisation of Managed Accounts Poised to Revolutionise Financial Advice
Wed, 12 Mar: The evolving landscape of Separately Managed Accounts (SMAs) is set to enhance financial advisers' competitiveness against private market offerings by industry funds, according to insights from a recent Institute of Managed Accounts Professionals (IMAP) conference. A panel comprising key industry figures highlighted significant mergers and acquisitions as indicative of the dynamic managed accounts sector and the outsized impact of the outsourced Chief Investment Officer (OCIO) model. - read more
News image: ASIC Takes Legal Action Against AustralianSuper Over Delayed Death Benefits ASIC Takes Legal Action Against AustralianSuper Over Delayed Death Benefits
Wed, 12 Mar: The Australian Securities and Investments Commission (ASIC) has initiated legal proceedings against AustralianSuper, one of the country's largest superannuation funds, over alleged delays in processing death benefit claims. The lawsuit, filed in the Federal Court, accuses AustralianSuper of failing to handle these claims effectively and promptly between 1 July 2019 and 18 October 2024. - read more
News image: US Stock Decline Intensifies Amid Tariff Fears US Stock Decline Intensifies Amid Tariff Fears
Wed, 12 Mar: US stock markets faced a significant downturn on Tuesday, deepening a selloff not seen in months, fueled by investors' concerns over the latest round of tariff threats and their potential repercussions on the global economy. The S&P 500 reached a critical low, nearing a 10 per cent drop from its record high, reflecting growing market volatility amidst mixed updates on international trade tensions and geopolitical events. - read more
News image: RBA Rate Cut Sparks Surge in Australian Consumer Confidence RBA Rate Cut Sparks Surge in Australian Consumer Confidence
Wed, 12 Mar: The Reserve Bank of Australia’s recent decision to reduce the official interest rate by 25 basis points to 4.1 per cent in February has invigorated consumer confidence, reaching a three-year high. The upswing in sentiment began in late 2024 but waned slightly over the holiday season. However, March data from the Westpac-Melbourne Institute consumer sentiment index indicates a recovery, driven by the RBA's interest rate cut and easing cost pressures. - read more