Financial Services News Wrap

In this episode, Paige Estritori from Financial Services Online discusses the current state of Australia's financial services industry. Insurance company, IAG, despite a 13% drop in net profits, sees its insurance profit soar by over 75% due to effective cost efficiency measures. However, rising reinsurance costs and inflationary pressures provoke concerns about insurance affordability, especially...

In this episode, Paige Estritori examines a range of financial topics. Firstly, she highlights a study from the University of Adelaide, which shows Self-Managed Super Funds (SMSFs) outperforming industry peers and yielding positive returns during economic instability. This success is tied to informed investment decision-making and active management. Next, she addresses ANZ Banks recent decision to...

On this edition of Financial Services Online's weekly news wrap, Paige Estritori discusses artificial intelligence's evolving role in financial services, especially regarding consumer protection. The importance of clear policies and robust safeguards in this area is highlighted. The episode also covers the success of Self-managed Super Funds (SMSFs), who have performed well during fiscal adversiti...

In this episode, host Paige Estritori covers recent news in the financial sector. She discusses the halted plan to overhaul the fire and emergency services funding model in Tasmania and the backlash it's received so far. She moves onto the plans of the Australian Securities and Investments Commission (ASIC) to toughen regulations on the superannuation sector, motivated by arising complaints about...

This week's Financial Services News Wrap discusses concerns about business potentially using inflation as an excuse for price hikes; the recent $260 million investment by UniSuper in a Melbourne industrial hub; a penalty and apology demanded by the Australian Financial Complaints Authority from a broker for mishandling a storm damage insurance claim; and a revolutionary collaboration between Finan...

This week's Financial Services News Wrap explores the challenges in the Australian job market, with competition for jobs surging past pre-pandemic levels due to strong population growth and a new generation entering the workforce. The Reserve Bank projects an increase in unemployment by year-end. A recent ruling by the Australian Financial Complaints Authority mandated Strata Community Insurance A...

This week's Financial Services News Wrap podcast discusses challenges Australia Post faces due to the high cost of delivering cash to remote areas and how modernizations aim to maintain service and ensure financial stability. Australian superannuation funds have allocated $1.86 billion for member advice in the last fiscal year, with Financial Services Minister Stephen Jones announcing plans for "q...