Investing

'Renovesting' the trend in 2018

Australia’s property market is set for single-digit growth, apartment oversupply and ‘renovesting’ in 2018, according to some property and economic commentators.

Graham Cooke of comparison website finder.com.au said interest rates were expected to change little until the second half of 2018, after the Reserve Bank of Australia (RBA) this Tuesday left the official cash rate on hold at 1.5 per cent at its final meeting of the year.

Financial advisers to meet new standards

National Seniors has welcomed a new authority set up to oversee the standards and ethics of financial advisers.

Former Chief Executive of National Seniors, Michael O’Neill, is one of three directors with consumer advocacy experience who have been appointed to the Financial Adviser Standards and Ethics Authority (FASEA).

The other five directors include three with financial services experience, an ethicist and an academic.

Interest rate cut bad news for retirees

This week’s interest rate cut is bad news for retirees, says the consumer lobby for older Australians.

The Reserve Bank has decided to lower the official cash rate by 25 basis points to 1.50 per cent.

National Seniors chief advocate Sarah Saunders said the decision was bad news for retirees.

“This cut will be a blow to anyone living off simple, low-risk investments”.

Saunders called on the Government to now adjust the social security deeming rates accordingly.

“Having fallen steadily since 2011, interest rates are sitting at all-time lows”.

Tread carefully with financial advisers register, seniors warn

National Seniors is urging consumers to exercise caution while using the Financial Advisers Register, warning that crucial information about financial advisers’ background and experience is still missing from the system.

The Federal Government announced this week that the Financial Advisers Register would include advisers’ training, qualifications and professional association memberships.

But National Seniors chief executive Michael O’Neill is warning consumers to tread with caution.

Rate cut another blow for older investors

This week’s interest rate cut is another blow for older Australians who rely on term deposits for investing their often limited savings, National Seniors says.

The Reserve Bank of Australia on Tuesday slashed its cash rate to a record low of two per cent, the second in 2015 and the 10th consecutive reduction since November 2011.

National Seniors chief executive Michael O’Neill said the continuing run of interest rate falls was bad news for those on limited and often fixed incomes.

Rate cut another blow for older investors

Today’s interest rate cut is another blow for older Australians who rely on term deposits for investing their often limited savings, National Seniors Australia said.

The Reserve Bank of Australia today slashed its cash rate to a record low of 2 per cent, the second in 2015 and the 10th consecutive reduction since November 2011.

National Seniors Australia chief executive Michael O’Neill said the continuing run of interest rate falls was bad news for those on limited and often fixed incomes.

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Professional standards of financial advisers

The federal government has released a consultation paper and is calling for submissions on ways to lift the professional standards of financial advisers.

Assistant Treasurer Josh Frydenberg said the Financial System Inquiry and an inquiry by the Parliamentary Joint Committee on Corporations and Financial Services (PJC) have both recommended reform in this area.

“These inquiries make clear that the current regulatory arrangements are no longer sufficient to ensure high-quality consumer outcomes and to maintain public confidence in the industry,” Frydenberg said.

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