Year: Month:
News image: Superannuation Titans Advocate for Streamlined Regulations Superannuation Titans Advocate for Streamlined Regulations
Mon, 26 May: A significant meeting led by the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA) brought together chief executives from leading superannuation funds, urging a much-needed simplification of current regulatory frameworks. This appeal aligns with ASIC's acknowledgment that the Financial Accountability Regime (FAR) has been instrumental in pinpointing responsible entities within super funds. - read more
News image: Revived Interest in Financial Advising Sparks Positive Industry Shift Revived Interest in Financial Advising Sparks Positive Industry Shift
Mon, 26 May: The financial advising sector in Australia is experiencing a resurgence of commitment from advisers, marking a significant shift in industry culture post-Hayne Royal Commission. According to findings from Adviser Ratings, nine out of ten advisers have expressed dedication to staying in the field, a notable increase from 74 percent in 2021. This trend was highlighted during a webinar as part of the lead-up to the 2025 Financial Advice Landscape report release. - read more
News image: Australia's Economic Challenges: Capital Shallowing and Population Growth Australia's Economic Challenges: Capital Shallowing and Population Growth
Mon, 26 May: Australia's economic landscape is confronting a significant challenge termed 'capital shallowing.' This occurs when the population grows at a rate surpassing that of investments in business, infrastructure, and housing, leading to reduced capital per worker and declining productivity. This phenomenon has become a central topic in discussions about Australia's sluggish economic growth over the past two decades. - read more
News image: HESTA Service Disruption Sparks Adviser Outrage HESTA Service Disruption Sparks Adviser Outrage
Mon, 26 May: HESTA, a major Australian industry superannuation fund with $93 billion under management, has recently faced criticism due to a six-week transition period affecting service operations. Starting on 19 April, the fund halted processing activities, including super contributions, insurance claims, withdrawals, and investment switches, as it switched administrative providers from MUFG to the newer Grow Inc. This has frustrated financial advisers who depend on real-time access to manage clients' super funds effectively. - read more
News image: RBA Rate Cut Fuels Surge in Home Buyer Demand RBA Rate Cut Fuels Surge in Home Buyer Demand
Mon, 26 May: In the wake of the recent federal election and expectations of a monetary policy shift from the Reserve Bank of Australia (RBA), there has been a noticeable uptick in home buyer activity. This enthusiasm is evidenced by a rebound in auction clearance rates in key markets, notably Sydney and Melbourne, as well as across combined capital cities. - read more
News image: QBE Amplifies Cybersecurity Initiatives in Response to Rising Threats QBE Amplifies Cybersecurity Initiatives in Response to Rising Threats
Mon, 26 May: In an era where cyber threats are intensifying and regulatory demands are escalating, insurance giant QBE is significantly enhancing its support for brokers and their clientele. This decisive action was highlighted at a recent cyber insights event held in Sydney. - read more
News image: Rest Appoints New CIO Amid Leadership Transition Rest Appoints New CIO Amid Leadership Transition
Fri, 23 May: In a significant leadership update, Rest has appointed Michael Clancy, former CEO of Qantas Super, as its next Chief Investment Officer (CIO). Clancy assumes this role following the departure of Rest’s first-ever CIO, Andrew Lill, who resigned last October, leaving interim leadership with Kiran Singh and Simon Esposito acting as co-CIOs. - read more
News image: Wealth Management Faces a Midlife Crisis: The Call for Self-Funded Retirees Wealth Management Faces a Midlife Crisis: The Call for Self-Funded Retirees
Fri, 23 May: During a recent gathering of the Stockbrokers and Investment Advisers Association held in Sydney, Arnie Selvarajah, co-chief executive of Bell Financial Group, highlighted an urgent need for transformation within Australia's wealth management sector. The focus of his address was the escalating demand for self-funded retirees as the country's pension system faces increasing strain. - read more
News image: Managed Accounts in Superannuation Now Under Performance Review Managed Accounts in Superannuation Now Under Performance Review
Fri, 23 May: The Australian Prudential Regulation Authority (APRA) has announced that managed accounts will now be included in the Your Future Your Super (YFYS) superannuation performance test. In its recent update, APRA clarified that separately managed accounts (SMAs) can be classified as Trustee Directed Products (TDPs), which subjects them to this performance scrutiny. This determination hinges on the specifics of how the product operates and its strategic asset allocation capabilities for beneficiaries. - read more
News image: Markets Respond Cautiously to U.S. Tax Changes Amid Mixed Global Trends Markets Respond Cautiously to U.S. Tax Changes Amid Mixed Global Trends
Fri, 23 May: Financial markets exhibited a measured response following the U.S. administration's introduction of new tax legislation, a development that is expected to significantly increase the national deficit. Despite initial positive momentum on Wall Street, much of the gains receded by the session's end. Similarly, European markets experienced mild selloffs, signaling uncertainty among investors. In Asia, a mixed response was seen, with Australia outperforming other regional markets, although with minor losses. - read more
News image: Rising Life Insurance Coverage Highlights Persistent Knowledge Gap Rising Life Insurance Coverage Highlights Persistent Knowledge Gap
Fri, 23 May: New findings from NobleOak reveal an upward trend in life insurance coverage among Australians, alongside a persistent gap in understanding of fully underwritten policies. According to the NobleOak Life Insurance Pulse Report, 60% of Australians aged 30 to 60 now hold life insurance, a noticeable increase from 55% the previous year. - read more
News image: Ombudsman's Decision Favors Claimants in Solar System Dispute Ombudsman's Decision Favors Claimants in Solar System Dispute
Fri, 23 May: Homeowners grappling with damaged solar power systems are set to have a substantial portion of their repair costs reimbursed. This follows a significant ruling where an ombudsman overruled the insurer IAG's application of an electronic malfunction exclusion in the claim process. - read more
News image: Kogan Shares Plummet Amid Mighty Ape Tech Challenges Kogan Shares Plummet Amid Mighty Ape Tech Challenges
Wed, 21 May: Kogan, a prominent name in the online electronics retail industry, is enduring a significant downturn with its New Zealand business, Mighty Ape, experiencing ongoing technical issues that are adversely affecting its financial performance. The company has revealed that it does not expect Mighty Ape to return to profitability until the following financial year due to complications related to a recent website upgrade. - read more
News image: $3 Million Super Tax Boosts ETF Popularity $3 Million Super Tax Boosts ETF Popularity
Wed, 21 May: The Australian Government's decision to implement a $3 million cap on superannuation tax concessions along with taxing unrealised capital gains has begun to shift investor interest towards Exchange Traded Funds (ETFs), as highlighted by Stockspot's CEO, Chris Brycki. - read more
News image: RBA Rate Cut Sparks Concerns Amid Rising Housing Market Outlook RBA Rate Cut Sparks Concerns Amid Rising Housing Market Outlook
Wed, 21 May: The Reserve Bank of Australia's recent decision to reduce the cash rate by 25 basis points to 3.85 per cent has stirred reactions among young Australians and financial experts. The decision provides relief for current homeowners but poses challenges for first-time buyers due to anticipated housing price increases. - read more
News image: AFCA Upholds Pause on QBE Claim but Dismisses Fraud Allegation AFCA Upholds Pause on QBE Claim but Dismisses Fraud Allegation
Wed, 21 May: The Australian Financial Complaints Authority (AFCA) has ruled on a dispute involving insurer QBE and a vehicle damage claim. While QBE has been permitted to halt the processing of the claim until the policyholder, a company director, provides additional information, the fraud allegations levied against the claimant remain unsubstantiated. - read more
News image: Investors Shift Focus to Hedged International Equity ETFs Amid Volatility Investors Shift Focus to Hedged International Equity ETFs Amid Volatility
Mon, 19 May: New insights from InvestSMART reveal a noticeable shift in investment preferences from Australian equity Exchange Traded Funds (ETFs) to global equity ETFs, particularly hedged international equity ETFs. This development comes in light of investors' efforts to guard against currency fluctuations. - read more
News image: Diplomatic Efforts Critical for Super Tax Revisions Diplomatic Efforts Critical for Super Tax Revisions
Mon, 19 May: In the wake of the recent election, the financial services sector finds itself grappling with the government's contentious superannuation legislation, targeting unrealised capital gains within accounts over $3 million. Despite facing broad disapproval, the current political landscape has limited the sector’s leverage, with the Australian Labor Party (ALP) securing a commanding victory. Now, attention shifts to possible marginal adjustments, where indexation emerges as a viable area for diplomacy and a point of interest for the Senate crossbench. - read more
News image: RBA Rate Cut Possible Despite Eased US-China Tariffs RBA Rate Cut Possible Despite Eased US-China Tariffs
Mon, 19 May: Economists are largely forecasting that the Reserve Bank of Australia (RBA) will reduce interest rates during its upcoming meeting, although recent international developments add some uncertainty to this prediction. Notably, US President Donald Trump's decision to lower tariffs on China prompted a reciprocal tariff reduction by Beijing, leading to a rise in risk asset values, including shares. - read more
News image: AFCA Upholds Policyholder's Claim, Dismisses Fraud Allegation in Car Theft Case AFCA Upholds Policyholder's Claim, Dismisses Fraud Allegation in Car Theft Case
Mon, 19 May: The Australian Financial Complaints Authority (AFCA) has dismissed allegations of fraud against a policyholder by Auto & General Services following an unsatisfactory investigation related to a stolen and burnt-out vehicle. The ruling in favour of the claimant highlights procedural gaps in the insurer’s investigation. - read more
News image: Australia Records Historic Fall in Disposable Income Australia Records Historic Fall in Disposable Income
Fri, 16 May: Recent data from the Australian Bureau of Statistics (ABS) revealed a historical drop in real per capita household disposable income for Australians, marking an unprecedented fall of around 8% since mid-2022. This decline represents a significant issue, with Australia experiencing the largest decrease in the developed world, according to the OECD. - read more
News image: Record High Australian House Prices Exceed $11 Trillion Record High Australian House Prices Exceed $11 Trillion
Fri, 16 May: Australia’s housing market has reached a significant milestone, with the total value of housing stock hitting $11.3 trillion as of April 2025. According to Cotality, formerly CoreLogic, the average home is now valued at $1 million, underscoring the considerable growth in property values. - read more
News image: Bitcoin’s Potential Surge: Could It Reach New Heights by Year-End? Bitcoin’s Potential Surge: Could It Reach New Heights by Year-End?
Fri, 16 May: The value of Bitcoin might soar to unprecedented levels, potentially reaching as high as US$200,000 (AU$310,000) by the end of the year. This optimistic outlook follows bolstered market sentiment and support from a crypto-friendly U.S. administration, suggests a leading voice from Global X. - read more
News image: Asgard Announces Significant Hike in Insurance Premiums Asgard Announces Significant Hike in Insurance Premiums
Fri, 16 May: Asgard, the investment platform owned by Westpac, has announced substantial increases in insurance premium rates, ranging from 0.7% to 94.6%. This decision comes in collaboration with AIA Australia following a review of its insurance offerings. The changes, which will affect clients with Asgard Personal Protection Packages, are attributed to rising costs, including claims expenses. - read more
News image: ASX Hits 11-Week High Amidst US-China Tariff Pause ASX Hits 11-Week High Amidst US-China Tariff Pause
Wed, 14 May: The Australian Securities Exchange (ASX) reached its highest level in 11 weeks, buoyed by the announcement of a temporary pause in tariff increases between the United States and China. The ASX 200 index climbed 35.50 points, or 0.43%, to 8,269, with standout performances from the energy and information technology sectors. Similarly, the All Ordinaries index saw a rise of 43.70 points, or 0.52%, closing at 8,510.70. The Australian dollar also appreciated, gaining 0.71% to 64.16 US cents. - read more
News image: AI Gaining Traction Among Australian Financial Advisers AI Gaining Traction Among Australian Financial Advisers
Wed, 14 May: A recent global survey conducted by the Financial Planning Standards Board reveals a growing trend among Australian financial advisers who see artificial intelligence (AI) as a beneficial tool. The study, which includes perspectives from advisers across 24 markets, highlights that approximately 82% of financial advice businesses in Australia are either currently utilizing, piloting, or planning to incorporate AI within the next year to enhance client services. - read more
News image: Steady Superannuation Returns Despite US Tariff Challenges Steady Superannuation Returns Despite US Tariff Challenges
Wed, 14 May: In April, Australian superannuation funds maintained a positive trajectory amid the uncertainty caused by US tariff policies under President Donald Trump. According to SuperRatings, the median balanced superannuation option achieved a modest 0.6% increase during this period, demonstrating resilience against market volatility. - read more
News image: ASIC Takes Legal Action Against Macquarie Securities Over Misreporting ASIC Takes Legal Action Against Macquarie Securities Over Misreporting
Wed, 14 May: The Australian Securities and Investments Commission (ASIC) has initiated legal proceedings against Macquarie Securities Limited, accusing the company of engaging in misleading conduct related to the misreporting of short sales. This lawsuit, filed in the NSW Supreme Court, points to a significant duration of alleged misreporting that spanned over 14 years, from December 2009 to February 2024. - read more
News image: ClearView Transitions to Pure-Play Life Insurance, Emphasizes IFA Ties ClearView Transitions to Pure-Play Life Insurance, Emphasizes IFA Ties
Wed, 14 May: ClearView, a publicly-listed insurer, has reaffirmed its commitment as a 'pure play life insurance company' following its strategic exit from the wealth management sector. This transition, finalized in March 2025, completes a multi-year effort pivoting the company towards becoming a technologically advanced life insurance firm. - read more
News image: Gold Price Stabilizes at US$3,000-$3,100: New Normal Gold Price Stabilizes at US$3,000-$3,100: New Normal
Tue, 13 May: The global gold market is witnessing a significant shift as gold prices establish a new baseline floor between US$3,000 and US$3,100 per ounce. State Street's latest monthly Gold Monitor highlights this development, attributing the stabilization to a prolonged global trade war, which is likely to bolster gold demand as a safe haven and alternative to fiat currencies. - read more
News image: Delay Urged for Payday Super Transition: Industry Bodies Cite Readiness Concerns Delay Urged for Payday Super Transition: Industry Bodies Cite Readiness Concerns
Tue, 13 May: Financial and industry associations have raised significant concerns over the readiness and feasibility of the proposed implementation date for the payday super regime in Australia. The Financial Advice Association Australia (FAAA), alongside accounting bodies, the SMSF Association, and the Tax Institute, has collectively recommended delaying the regime by at least 12 to 24 months. Their submission highlights potential complications in aligning the existing superannuation contribution network with the new demands. - read more
News image: Wall Street Surges Following US-China Tariff Reduction Agreement Wall Street Surges Following US-China Tariff Reduction Agreement
Tue, 13 May: In a significant development, Wall Street's three major indices have leapt forward as the S&P 500 reached its highest point since March. This upwards trend follows the announcement of a temporary reduction in tariffs between the United States and China, offering hope for a de-escalation in global trade tensions initiated by US President Donald Trump in April. - read more
News image: Life Insurance Prevails as a Financial Priority Despite Economic Strains Life Insurance Prevails as a Financial Priority Despite Economic Strains
Tue, 13 May: Amid ongoing economic challenges, Australians continue to prioritise life insurance, often at the expense of other budgetary items such as holidays, entertainment, and even groceries. This trend is highlighted in an annual survey conducted by NobleOak, which reveals a noticeable rise in life insurance and income protection policies. - read more
News image: Calls Intensify for Swift Financial Advice Reforms in Australia Calls Intensify for Swift Financial Advice Reforms in Australia
Tue, 06 May: Amid pressing concerns from industry associations, the call for rapid finalization of financial advice reforms in Australia has been amplified. The lack of direction from the Labour government regarding the Compensation Scheme of Last Resort (CSLR) is causing uncertainty in the sector, potentially stalling essential reform work. The impending retirement of Stephen Jones has only added to the speculation surrounding the future of these reforms. - read more
News image: APRA Levy Costs Surge, Impacting Superannuation Funds APRA Levy Costs Surge, Impacting Superannuation Funds
Tue, 06 May: The Australian Prudential Regulation Authority (APRA) levy imposed on superannuation funds has risen sharply by 147% over the past decade, as reported by the Association of Superannuation Funds of Australia (ASFA). This notable increase has prompted ASFA to emphasise the need for greater transparency and accountability from regulators, such as APRA, regarding the allocation of these funds. - read more
News image: Unlocking Income Opportunities Through Commercial Real Estate Debt Unlocking Income Opportunities Through Commercial Real Estate Debt
Tue, 06 May: Investors are increasingly discovering income prospects in commercial real estate (CRE) without owning property directly. CRE debt investments offer a popular method to generate returns by lending to those requiring capital for commercial property ventures. The investors' gains are derived from borrowing costs, encompassing interest and fees, once fund expenses are deducted. - read more
News image: Call for Stricter Timelines on Insurance Claims and Renewals Call for Stricter Timelines on Insurance Claims and Renewals
Tue, 06 May: The Insurance Brokers Code Compliance Committee is advocating for significant changes to improve transparency and clarity in their industry standards, amidst ongoing reviews of the National Insurance Brokers Association (NIBA) code. This call to action coincides with the recent closure of feedback collection from stakeholders, setting the stage for a draft report expected next month. - read more
News image: Navigating the Challenges of Bond Income Distributions Navigating the Challenges of Bond Income Distributions
Mon, 05 May: As global bond yields experience a resurgence, many income-seeking investors face diminishing returns from cash distributions. According to a recent analysis by investment researcher Zenith, a noticeable discrepancy has emerged between the average yields of bond fund portfolios and their actual income distributions. - read more
News image: Disparities in Apra Levy Impact Smaller Super Funds Disparities in Apra Levy Impact Smaller Super Funds
Mon, 05 May: Smaller superannuation funds face potential disadvantage due to the upcoming changes to the APRA levy, according to leading accounting bodies in Australia. These changes, outlined for the Financial Institutions Levies for the financial year 2025–26, indicate a significant reduction in charges for larger funds, while smaller funds continue to incur higher proportional costs. - read more
News image: Westpac Records Slight Profit Drop Amid Geopolitical Risk Concerns Westpac Records Slight Profit Drop Amid Geopolitical Risk Concerns
Mon, 05 May: In a cautious signal to the market, Westpac has recorded a marginal decline in its half-year profit, posting a $3.45 billion result, down by one per cent compared to previous figures. This financial outcome marks the first under the direction of their new CEO, Anthony Miller, who commenced his role in December last year. Westpac has flagged geopolitical unpredictability as a significant ongoing risk, reflecting a challenging environment for the financial sector. - read more
News image: Insurers Under Scrutiny for Response to Alfred Flood Claims Insurers Under Scrutiny for Response to Alfred Flood Claims
Mon, 05 May: In a recent development, Queensland MP David Lee has raised concerns about how insurance companies are addressing claims following the devastating floods caused by Ex-Tropical Cyclone Alfred. Businesses in Hervey Bay, a region heavily impacted by the floods, report facing significant hurdles in having their damage claims recognized. - read more
News image: AFCA Rules Against Engine Theft Coverage in Motor Policy Dispute AFCA Rules Against Engine Theft Coverage in Motor Policy Dispute
Sun, 04 May: An applicant's attempt to claim insurance coverage after the theft of an engine designated for his 1993 Nissan Skyline has been denied. Despite holding a comprehensive motor policy with IAG, the insured's claim was rejected after multiple engines were stolen in a brazen ram-raid at his vehicle repairer's workshop in November 2023, prompting an appeal to the Australian Financial Complaints Authority (AFCA). - read more
News image: Warren Buffett Announces Retirement, Nominates Greg Abel as Successor Warren Buffett Announces Retirement, Nominates Greg Abel as Successor
Sun, 04 May: Warren Buffett, the illustrious figure renowned as the 'Oracle of Omaha,' has declared his plan to retire from his leadership role at Berkshire Hathaway by the year's end. The 94-year-old investment mogul recommended Greg Abel as the next chief executive officer, indicating that the board of directors is likely to support this transition. Abel, already a prominent figure within the company, joined its energy division back in 1992 and has been part of the board since 2018. - read more
News image: Aware Super Commences International Search for New CIO Aware Super Commences International Search for New CIO
Sun, 04 May: Aware Super has unveiled its succession strategy as Chief Investment Officer (CIO) Damian Graham prepares to step down. The organization, Australia's third largest super fund, aims to appoint a new CIO by the end of this year. - read more
News image: US Federal Reserve Rate Decision Grips Australian Investors US Federal Reserve Rate Decision Grips Australian Investors
Sun, 04 May: The upcoming interest rate decision by the US Federal Reserve is creating significant anticipation among Australian investors. As the announcement is set for Thursday, the market is particularly keen on understanding the future direction beyond the expected maintenance of the current cash rate, which Federal Reserve Chair Jerome Powell has previously indicated for May. - read more
News image: Court Imposes $11 Million Penalty on Advice Firm for Breaching Remuneration Rules Court Imposes $11 Million Penalty on Advice Firm for Breaching Remuneration Rules
Fri, 02 May: The Federal Court has imposed a substantial $11 million penalty on a financial advice firm after discovering the firm breached conflicted remuneration regulations. The case revealed that DOD Bookkeeping, formerly Equiti Financial Services, engaged in practices that involved providing standardized advice that improperly favored in-house property investments. - read more
News image: ACCC Strengthens Position Against Broker Commissions ACCC Strengthens Position Against Broker Commissions
Fri, 02 May: In a recent submission to the professional code of practice review, the Australian Competition and Consumer Commission (ACCC) has reiterated its position against broker commissions. Echoing findings from its 2020 Northern Australia Insurance Inquiry, the ACCC advocates for extending the ban on conflicted remuneration to include brokers. - read more
News image: Australian Teens Confident in Money Management Skills: NAB Survey Australian Teens Confident in Money Management Skills: NAB Survey
Fri, 02 May: Recent data from National Australia Bank (NAB) highlights an unexpected trend: Australian teenagers are exhibiting remarkable confidence in their financial management abilities. Among the surveyed high-school students, over 70% feel assured in their capacity to open a bank account, and 65% are confident in tracking their expenses effectively. - read more
News image: Link Wealth Launches High School Financial Literacy Program Link Wealth Launches High School Financial Literacy Program
Thu, 01 May: In an innovative move to tackle the shortage of financial advisers and the widening financial literacy gap, Link Wealth has introduced a new educational initiative called ‘Beyond Schools’. This program targets students in Years 10 to 12, equipping them with essential financial knowledge and skills that are crucial in adulthood. - read more
News image: Cbus Unveils New CIO and Targets 50% In-House Investment Management Cbus Unveils New CIO and Targets 50% In-House Investment Management
Thu, 01 May: In a significant strategic shift, Cbus, one of Australia's prominent construction industry funds, has announced a leadership change with the appointment of Leigh Gavin as the new Chief Investment Officer (CIO). This decision accompanies the fund's ambitious goal to increase its in-house investment management to 50% over the next three years. - read more
News image: Trump Blames Biden for First Economic Contraction in Three Years Trump Blames Biden for First Economic Contraction in Three Years
Thu, 01 May: The U.S. economy has experienced a contraction for the first time in three years, with gross domestic product (GDP) figures showing a 0.3% decline in the last quarter. This negative growth follows a previous 2.4% expansion in the fourth quarter. Current U.S. President Donald Trump attributes this downturn to the policies of former President Joe Biden, criticizing Biden's economic strategy during Trump's first 100 days back in office. - read more
News image: Partial Settlement Reached in Homeowner's 'Slow Leak' Insurance Dispute Partial Settlement Reached in Homeowner's 'Slow Leak' Insurance Dispute
Thu, 01 May: A recent ruling by the Australian Financial Complaints Authority (AFCA) has determined that Auto & General Services must cover a portion of a homeowner's insurance claim related to long-term water damage caused by a leaking pipe. The decision comes after a protracted dispute regarding the coverage of damages arising from a leak that reportedly developed over 12 months, spanning both before and during the insurance policy period. - read more