Financial Services News Wrap

In this episode, Paige Estritori discusses changes to the Emergency Services Levy in New South Wales, factors affecting Australians with multiple jobs including tax and superannuation considerations, the impact of MySuper a decade since its introduction highlighting its advantages and drawbacks, and an update on the inquiry into insurance practices after the 2022 floods. Plans to reform the Emerge...

In this week's financial news, there is mounting financial strain on Australian households with mortgage payments requiring nearly half of household incomes. The situation is particularly dire in New South Wales and Queensland, despite a static cash rate. Home buying activity has increased, even with high average loan amounts. A landmark insurance claim verdict has emphasized the importance of cle...

On this episode of the Daily Financial Services News Wrap, Australian families experience the worst financial strain in two decades, with nearly half their income going towards mortgage repayments. Unaffordability extends to rising rents and first-time homebuyer loan averages crossing the $514,000 mark, despite an uptick in activity. In the insurance sector, a vehicle owner won a significant case...

In this edition of Financial Services Online, Paige Estritori discusses the monetary hardships small and medium businesses are facing with rising costs and falling profits, and the particularly affected hospitality areas in Western Sydney and Southeast Queensland. The show covers a controversial proposal by Coalition lawmakers to tap into superannuation for housing deposits, with the Super Members...

In this episode, Paige Estritori discusses key news in Australian financial services. Australian superannuation funds propose massive changes to cyber security legislation, aiming for improved management of threat reports and anonymity. Cyber risks have topped the concerns for Australian insurers according to a PwC survey, challenging the insurers to offer innovative and affordable solutions. Aust...

In this podcast episode, Financial Services Online covers important topics in the Australian financial sector. A significant feature is the decreasing gender gap in Self-Managed Superannuation Funds (SMSFs), going down to 15.9% from 20.3% over the past five years. Despite this progress, further policy reform is needed. Australian homeowners are facing increased mortgage stress due to rising intere...

In this episode of the Daily Financial Services News Wrap, Paige Estritori reports on key updates in the financial sector. David Hartley, former CIO of SunSuper presents concerns on the impact of superannuation policies on housing prices, proposing a capital gains tax at retirement as a solution. An investment analysis suggests changing economic conditions may require investors to reconsider their...

This episode from Financial Services Online hosted by Paige Estritori covers key headlines in Australia's finance sector. The Insurance Council of Australia reports insured losses from recent weather events, including Cyclone Jasper, totalling $1.2 billion. However, 28% of 90,000 claims have been settled, with the council committed to long-term recovery. Housing market data shows robust property v...

In this episode of the Daily Financial Services News Wrap, Paige Estritori discusses the 3.9% drop in Australian home loan approvals due to financial pressures and interest rate hikes. However, a Westpac survey shows a resilient homeownership spirit among Australians, with 44% aiming to buy property in the next five years, despite the economic climate. Other key issues include the gender equality...

In this Daily Financial Services News Wrap, Paige Estritori discusses Australia's superannuation funds' robust growth, signaling balanced investment strategies despite inflation and interest rate challenges. The podcast also discusses the divisive debate around Australia's housing crisis, with the Green Party proposing a reform to negative gearing and capital gains tax breaks to fund new affordabl...

In this episode, the Australian Securities and Investments Commission (ASIC) continues its fight against online financial fraud, closing over 3,500 fraudulent sites and imposing $60 million in penalties this year. Their focus is on protecting consumers and ensuring fair lending practices. Australian private health insurance premiums will rise by more than 3% from April, the most significant increa...

In this episode of the Daily Financial Services News Wrap, Paige Estritori discusses potential economic downturn in Australia due to faltering Q4 growth, weak employment figures, and poor investment. Despite the Melbourne Institute's prediction of a slight growth, the conditions suggest the need for a monetary policy reassessment. In the insurance sector, Emergence Insurance expands its cyber prot...

In this episode, Paige Estritori discusses the recent surge in Australian property prices, due to a mismatch of housing supply and demand and high level of foreign investment. Despite concerns over property investors exiting the game, mortgage commitments to investors rose by 20%, indicating that the real estate market still attracts investor interest. A rural homeowner won a significant $42,000 s...

In this episode of the Daily Financial Services News Wrap, we discuss a variety of financial happenings. We start with a landmark customer advocacy case where an Australian home insurance company was directed by the Australian Financial Complaints Authority to pay $40,000 for damages and additional $2000 for distress to a rural homeowner. Next, we explore the unexpected surge in mortgage commitmen...

In this episode of the Daily Financial Services News Wrap, justice was served for rural homeowners when HDI Global Specialty was directed to pay $42,000 for substandard roof repairs after initial reluctance. In property investment, contrary to fears of investor retreat, mortgage commitments have risen by 20%, revealing a complex rental landscape. Research shows that Australians accessing superannu...

The latest episode of the Daily Financial Services News Wrap covers key developments in the financial services sector. ClearView Wealth's strategic decision to focus on life insurance yields growth, with their market share surging to 10.9%. Meanwhile, the Association of Superannuation Funds of Australia voices concern over issues arising from bequeathing super to charities. In legal news, the Vict...

This episode of the Daily Financial Services News Wrap discusses a victory for a small butcher shop against QBE Insurance, following a disputed claim over stock spoilage during a power outage. We also discuss the introduction of a policy by TelstraSuper offering full-time Superannuation Guarantee contributions to part-time staff returning from parental leave, aiming to close the retirement savings...

In this podcast, Paige Estritori from Financial Services Online provides updates on Australia's financial sector, insurance, and money management. A report shows legislative changes leading to a 36% decrease in Australians holding life insurance via superannuation funds, affecting millions and causing significant losses. Financial influencer Canna Campbell suffers a trademark dispute loss with Rho...

In this podcast, Paige Estritori shares key updates from the financial sector on behalf of Financial Services Online. Medibank faces legal battles concerning privacy issues with the Federal Court denying an injunction requested by the firm to cease an Australian Information Commissioner probe into a data breach. A surge of 40% in financial hardship violations in the banking sector is reported, wit...

This episode of the Daily Financial Services News Wrap from Financial Services Online, hosted by Paige Estritori, covers key topics in Australia's financial services sector from February 26th, 2024. Discussed subjects include: the government's proposal to raise the tax on super savings over $3 million, which Heffron Management suggests won't impact most; icare's upcoming changes allowing mid-sized...

In this episode of Financial Services Online, Paige Estritori covers key updates from Australia's financial sector. Predominantly, the hot debate of negative gearing in real estate investment is discussed, highlighting its role in self-funded retirement and rental housing, along with the tax implications. In light of over 30,000 complaints, the Australian Financial Complaints Authority (AFCA) stre...

In this episode of Financial Services Online, host Paige Estritori discusses current financial issues including negative gearing in real estate investment, improvements in complaint handling at AFCA, increase in super contribution limits, and legal actions against past practices of Toyota Finance. The discussion highlights divided opinions on negative gearing, mandated effective dispute resolution...

This episode of Daily Financial Services News Wrap covers top stories focused on reshaping Australia's financial landscape. Topics include a proposal from the Super Members Council of Australia striving to amend the superannuation system in response to changes in retirement trends. Further discussion takes in rising retail prices; the head of a leading grocery chain defends their pricing strategie...

This episode of Financial Services Online covers a range of topics, starting with the proposal by the Super Members Council for changes to Australia's superannuation system. The changes, expected to make retirement planning easier and more intuitive, also highlight the need for reforms in financial advice and retirement planning. The episode moves on to defend a leading grocery chain's price incre...

In this episode of the Daily Financial Services News Wrap, the merging of ANZ and Suncorp Bank is discussed in the face of initial reservations by the Australian Competition Tribunal. The impact of this merger on competition, job cuts, and Queensland's economy is assessed, with Suncorp's post-sale focus on their insurance business. The episode also discusses the scrutiny on Coles and Woolworths' d...