The government and ASIC are demanding banks and financial service providers strengthen their scam and fraud defences. With this nefarious activity costing Australians $318 million in the past 15 months alone, the industry’s positive response has not come quickly enough.
Three adviser firms are telling their clients to trust their portfolio structures to ride out the current market volatility largely sparked by a looming trade war.
The government’s decision to invest $20 million to assist with funding for locally made IV fluids should be a blueprint for a similar approach to pain killers.
While the headline number was a 3.73 per cent increase, what it concealed was that four of the big five funds had higher increases. Now National Seniors Australia wants to make private health insurance an election issue.
Homeowners with hefty mortgages and the government might have been all smiles after 25 basis points were shaved off the cash rate last week, but it came as a body blow to self-funded retirees wedded to term deposits.
Two reports highlight the fact that trustees getting professional advice enjoy better returns due to more diversified portfolios and exposure to overseas markets – particularly the US.
Many fund members who breach the super laws just want to sweep it under the carpet. It’s a poor option, with the taxman typically being far more lenient with those who voluntarily disclose any breaches of the SIS legislation.
With the Magnificent 7 leading the charge, the S&P500 index took all before it last year. A repeat performance is not out of the question, but it could be prudent to look for investment opportunities in other overseas markets.
A runaway US equity market sent a strong diversification message to the SMSF cohort, and they are responding by adding low-cost, overseas ETFs to their portfolios.
Banks, social media companies and telcos will be on the front line of a new security framework aimed at making life safer online. Those that fail to protect consumers can expect to pay hefty fines.
