Advisers need an empathetic mindset to support the financial needs of Generation X

From

Generation X is the squeezed generation, and it’s not hard to figure out why. Facing unique challenges both day-to-day and financially, they’re experiencing pressure from all sides. Currently sitting between 40 and 55 years old, many in the cohort are hitting that time in their lives where they’re not only responsible for a growing family,... Read more continue reading

55% of Australians trust robots more than themselves with money

From

2020 has changed our relationship with money, and people now trust robots more than themselves to manage their finances, according to a new study by Oracle and personal finance expert Farnoosh Torabi. The study of more than 500 consumers and business leaders around Australia found that the COVID-19 pandemic has increased feelings of anxiety, sadness, and... Read more continue reading

Supporting clients to stay healthy begins with financial advisers engaging with their own preventative health

From

Preventative health is a catalyst for overall wellbeing. There’s no question that early diagnosis can be extremely beneficial to overall long-term health and can help reduce the need for expensive treatments by detecting a health condition before it reaches an advanced stage. Financial advisers play a crucial role in enabling the financial health of their... Read more continue reading

SMSF members urged to seek good advice as COVID divorces spike

From

The coronavirus pandemic has taken its toll on Australian couples. As well as marriage rates continuing their 20-year decline, divorce is reportedly on the rise. Google searches for the term ‘divorce’ surged to their highest point in 12 months at the end of June, even higher than the traditional Christmas divorce season.[1] Family law firms... Read more continue reading

Women’s financial progress rebounds from COVID-19 setback

From

Key results The timeframe to economic equality is unchanged at a revised 32 years in September quarter. Women’s financial progress improved in the September quarter despite early setback of female job cuts in response to COVID-19 impacts. Progress was helped by a rebound in female employment relative to male, more women on boards and a... Read more continue reading

CPD: The COVID kilos and the mystery of the disappearing strokes

From

Whilst it is too early – and perhaps even fanciful – to start talking about the legacy of COVID 19 just yet, there is little doubt that there will be significant, long lasting impacts on our financial, mental and physical health. Aside from the virus itself, one of the most immediate – and perhaps visibly... Read more continue reading

Is there any value in financial advice?

From

Getting good useful advice whether from a plumber or a planner or other expert is a cause of concern for many people. I can’t help with plumbing but I have a list of strategies that I regularly recommend to clients that provide value for the service I provide and help our clients to grow real... Read more continue reading

Choosing an investment structure to meet in-house asset rule

From

An SMSF investing with a related party must be careful not to breach the in-house asset rule. Donald and Melania are members of the Trumpet Super Fund and directors of the corporate trustee, D & M Pty Ltd. Their son Louis runs a building business and is a sole director and sole shareholder of LT... Read more continue reading

Tailored and trusted advice key to supporting the millennial generation

From

Australia is on the precipice of a $3.5 trillion intergenerational wealth transfer. Industry research estimates it equates to some $320,000 per recipient. Yet, in the lead up to this significant transfer, we know that many are unprepared. In fact, research by Roy Morgan revealed that only 7.4 per cent of millennials have used any type of wealth management... Read more continue reading

1.8 million Australian workers suffering prolonged financial stress, costing $31 billion in lost productivity annually

From

AMP’s 2020 Financial Wellness research has found severe and moderate levels of financial stress are impacting 1.8 million Australian workers, with nearly half feeling financially stressed for an average of six and a half years or more. In total, 50 per cent of all Australian workers reported some level of stress about their finances. The... Read more continue reading