News Archives

Thu, 20 Feb: Telstra, Australia's leading telecommunications giant, has unveiled a significant financial move with an increase in its dividend and plans for a substantial share buy-back initiative. Following a notable 7.1% rise in first-half profit, the company aims to allocate up to $750 million for repurchasing shares. - read more

Thu, 20 Feb: In recent findings by Ray White, reports indicate a notable retraction of property investors from Victoria due to increased land tax rates introduced by the state government. The data highlights that investors owned over one-third of Melbourne homes auctioned by Ray White in the past year and 32.2% of regional Victorian homes. - read more

Thu, 20 Feb: Australia's superannuation funds have begun 2025 with promising results, as reported by Chant West, a renowned superannuation research and ratings firm. In January, the median growth fund, which allocates 61% to 80% in growth assets, rose by 2.2%, following a robust 11.4% gain over the previous financial year. - read more

Thu, 20 Feb: In light of recent economic indicators, Australia's central bank may find comfort in softer job growth numbers. Despite earlier concerns over potential interest rate hikes, the Reserve Bank of Australia (RBA) could see current trends as easing pressure on inflation. - read more

Thu, 20 Feb: The Financial Advice Association of Australia (FAAA) is pressing the Australian Financial Complaints Authority (AFCA) to justify projections indicating a substantial increase in its claims handling costs. According to an actuarial report, these costs are expected to jump from $12,450 per claim in 2024/25 to $21,334, a surge that raises concerns among financial advisors and industry stakeholders. - read more

Wed, 19 Feb: At the recent Professional Planner Advice Policy Summit, leaders in the superannuation industry reinforced the importance of fund preservation as integral to Australia’s retirement system. The framework was initially established by the Keating government over thirty years ago and remains a model respected internationally. - read more

Wed, 19 Feb: National Australia Bank (NAB) has reported a $1.7 billion net profit for the final quarter of 2024, reflecting a 1 percent decrease compared to the average of the prior two quarters. The dip in profits is attributed to intensified competition within the financial sector and escalated costs associated with financial crime prevention and internal wages. - read more

Wed, 19 Feb: An Australian court has rendered a pivotal decision in a complex insurance case featuring Mr R's Total and Permanent Disability (TPD) claim which was initially denied by the insurer due to a contested exclusion clause related to pre-existing conditions involving neck and shoulder injuries. - read more

Tue, 18 Feb: Westpac, Australia's oldest banking institution, announced a quarterly net profit of $1.7 billion, marking a 9% decline compared to the average of the previous two quarters. Despite this decline, the bank remains profitable due to increased consumer deposits and lending activity over the year. - read more

Tue, 18 Feb: The landscape for financial adviser education is set for a transformation as Treasury unveils its revised standards, heralding a new direction for the industry. These changes are poised to broaden the appeal and accessibility of financial advising as a career path. - read more

Tue, 18 Feb: Recent recommendations from the Senate Economics References Committee have set the stage for significant changes within Australia's superannuation sector, as outlined in their third interim report concerning the improvement of consumer experiences and outcomes. The committee has proposed banning superannuation funds from drawing capital from members to cover fines for misadministration and compensation payments. Instead, funds would need to rely on shareholder funding, a shift that may significantly affect the financial stability of profit-to-member funds. - read more

Tue, 18 Feb: As the nation awaits the Reserve Bank of Australia's (RBA) crucial decision on interest rates, homeowners brace for potentially contrasting outcomes. While a segment of financial observers predicts a rate cut, providing much-needed relief, others foresee a possible pause, sparking a mixture of anticipation and anxiety. - read more

Tue, 18 Feb: The insurance landscape in Australia is becoming increasingly fraught as the cost of home insurance continues to climb. Recent findings have shed light on the financial strain experienced by 1.6 million households due to surging insurance expenses. Alarmingly, this figure marks an increase of 360,000 households compared to the previous year, underscoring a 30% rise in those affected by these financial burdens. - read more

Tue, 18 Feb: After enduring a prolonged period of rising interest rates, Australian mortgage holders finally have something to celebrate. The Reserve Bank of Australia (RBA) has announced a reduction in the official cash rate from 4.35% to 4.1%, marking a turning point in a rigorous rate-hiking regime aimed at curbing inflation. - read more

Mon, 17 Feb: The financial advice landscape in Australia is on the brink of a transformative era, promising both significant opportunities and challenges. As the industry evolves, those ready to adapt will thrive in what could be considered a new 'golden age' of advice. - read more

Mon, 17 Feb: The Australian Prudential Regulation Authority (APRA) has intensified its investigation into Cbus, one of the nation's largest industry super funds, following ongoing concerns about its risk management strategies and spending practices. - read more

Mon, 17 Feb: As the Reserve Bank of Australia (RBA) prepares for a significant shift, the nation is abuzz with speculation about the forecasted interest rate cuts. After enduring years of high rates, Australian households may soon find relief as economic indicators suggest a new monetary policy direction is imminent. - read more

Mon, 17 Feb: In a recent ruling, the Australian Financial Complaints Authority (AFCA) sided with a motor insurance policyholder, awarding her the full value of her stolen vehicle alongside $3000 for non-financial losses, dismissing the insurer's fraud accusations. - read more

Mon, 17 Feb: Australian borrowers may soon breathe a sigh of relief as the Reserve Bank of Australia (RBA) considers a potential interest rate reduction. Economic analysts suggest a favourable move in monetary policy may occur sooner than anticipated, during the RBA's forthcoming assembly. This insight is derived from a recent survey indicating a significant probability of an imminent rate cut. - read more

Mon, 17 Feb: Government attempts to advance a contentious $3 million superannuation tax cap legislation have encountered a significant roadblock in the Senate. Independent Senator Tammy Tyrrell from Tasmania has quashed speculations that she might capitulate and support the bill, effectively dimming its prospects of passing before the parliamentary session ends. - read more

Sun, 16 Feb: Amid intensifying financial pressures, Australians are finding unconventional ways to stretch their budgets as the cost of living reaches new heights. - read more

Sun, 16 Feb: In light of recent discussions within Australia's financial sector, notable figures from both the Coalition and Labor are advocating for the removal of risk insurance commission caps. This policy adjustment could potentially reshape the landscape for life insurance advisers across the nation. - read more

Tue, 11 Feb: In a strategic move to bolster its growth trajectory, AZ Sestante, the investment consulting division of AZ Next Generation Advisory, has tapped Antonio Vaiente as its new Head of Business Development. Known for his extensive experience and expertise, Vaiente's decade-long tenure as Head of Business Growth at Fitzpatricks Financial Group showcases his capabilities in steering significant business advancement. - read more

Tue, 11 Feb: As the Australian superannuation landscape awaits significant reform, workers have been deprived of billions in potential savings due to lingering delays. The anticipated shift from quarterly to payday super contributions remains stalled, leaving many to question the government's timeline and priorities. - read more

Tue, 11 Feb: In a new development that could signal relief for global businesses, the latest data from Marsh's commercial price monitor indicates a broad decline in insurance rates during the last quarter of 2025. This trend is especially marked in the Australia-Pacific region, which experienced an 8% reduction, making it the standout market globally. - read more

Tue, 11 Feb: The Australian share market entered a turbulent phase on Monday, incurring heavy losses as investors reacted to fresh developments in international trade policy that threaten domestic market stability. - read more

Tue, 11 Feb: A construction company in Perth has been penalised for initiating building works without securing the legally-required home indemnity insurance, resulting in a $3500 fine and an additional $736 in costs. - read more

Tue, 11 Feb: A major property company in New South Wales has come under intense scrutiny following a recent evaluation of its workers' compensation system. The State Insurance Regulatory Authority (SIRA) found several compliance and claims management discrepancies in the self-insurance operations of ISS Property Services. - read more

Tue, 11 Feb: The integration of artificial intelligence (AI) into superannuation funds could revolutionise how these funds handle complex claims, such as death benefits and insurance, according to Novigi, a technology innovation company. - read more

Tue, 11 Feb: As Australian homeowners anticipate potential rate cuts by the Reserve Bank of Australia (RBA), many are eyeing possible lucrative outcomes in the property sector. This anticipated rate reduction could herald a significant uplift in property values across key markets, potentially delivering substantial financial benefits to those prepared to sell soon. - read more

Wed, 05 Feb: Amidst growing global competition, Australia's resources sector reiterates the critical importance of passing production tax credits to enhance its competitive edge in the critical minerals market. With geopolitical shifts influencing energy policies worldwide, there's a pressing need for decisive action. - read more

Wed, 05 Feb: The recent floods in northern Queensland have left a significant mark, with the Insurance Council of Australia reporting 1,435 insurance claims following the heavy rains. As the weather slowly begins to clear, residents of Townsville have started returning home, heaving a sigh of relief as the city narrowly avoided severe flooding. - read more

Wed, 05 Feb: Recent data highlights a growing concern among financial experts about older Australians who are not transitioning their superannuation funds to retirement-phase accounts, thus missing out on potential tax and cashflow advantages. The Australian Prudential Regulation Authority (APRA) released data revealing that as of June 2024, over $302 billion in retirement savings remain in taxable accounts despite eligibility for tax-exempt status once in retirement phase. - read more

Wed, 05 Feb: The Australian stock market experienced volatility on Tuesday, closing at a lower point after news broke that trade negotiations between the United States and China had failed, leading both countries to impose new tariffs. - read more

Wed, 05 Feb: The Australian Competition and Consumer Commission (ACCC) has opened a detailed examination into significant mergers in the motor insurance market. The acquisitions under review include Insurance Australia Group's (IAG) endeavor to acquire RACQ Insurance and Allianz Australia's agreement to purchase RAA Insurance. - read more

Tue, 04 Feb: Fidante, the funds management arm of Challenger Group, has announced a strategic partnership with System Capital, a global long/short investment management firm. This marks Fidante’s 20th affiliate agreement, enhancing its diverse suite of investment offerings. - read more

Tue, 04 Feb: The Albanese government is intensifying its scrutiny of the superannuation sector, targeting persistent customer service issues like delays in processing death benefits and insurance claims. This move comes ahead of the impending elections, as the government prepares to introduce mandatory industry standards designed to enhance services across the sector. - read more

Tue, 04 Feb: As Victoria grapples with soaring net debt and a waning credit rating, the controversial Suburban Rail Loop (SRL) project remains under intense scrutiny. The ambitious initiative, while presenting promising transport prospects, threatens to exacerbate the state’s financial dilemma. - read more

Tue, 04 Feb: Christine Cupitt, CEO of the Council of Australian Life Insurers, has strongly expressed the urgent need for rapid legislative reform in financial advice. With an upcoming election threatening to stall legislation, time is of the essence to ensure timely implementation. - read more

Mon, 03 Feb: The Australian stock market and currency faced significant setbacks as US trade policies unfolded, signaling a turbulent economic outlook. The recent imposition of tariffs by the Trump administration has sparked concerns of a looming global trade war, with China, Australia's principal trading partner, at the center of the conflict. - read more

Mon, 03 Feb: North Queensland is grappling with severe floods due to torrential rains, prompting the Insurance Council of Australia (ICA) to declare the situation a significant event. The worst-hit regions include Townsville and Ingham, where the impact has been profound. - read more