An annual survey of high-net-worth investors shows an increase in the richest Australians over the past year, even as the share of those receiving financial advice has fallen. With the largest intergenerational transfer of wealth in history on the line, a better-aligned approach may be needed.
Tasmanian eco-tech firm Sea Forest is making huge strides in its quest to use a unique Australian seaweed to combat climate change by reducing methane emissions from cows. The plan has huge environmental and commercial potential, its chief scientific officer says – government policy just needs to catch up.
The alternative asset manager, which recently disclosed a 4 per cent stake in Lendlease, says the multinational construction company will need to quickly de-lever its balance sheet to turn around three decades of “disappointing” shareholder returns.
The promise of AI is inflating the prices of big tech stocks, and none have as much positive momentum as Nvidia – a big red flag, says Atrium Investment Management’s Brendan Paul. The key question is whether such companies can maintain long-term growth that justifies their elevated multiples.
Super funds are failing in their primary duty of understanding customers’ retirement income needs and aren’t doing enough to address known data gaps, the regulators said, criticising their slow progress under the retirement income covenant.
The property market has defied rate hikes and inflation to post higher valuations in most capitals, but that’s not likely to last, according to SQM Research’s Louis Christopher, who predicts a second-half fall. It won’t distinguish between houses and units, and it will be worst where prices have risen most.
For the right investor, investment bonds can provide a seriously beneficial after-tax return according to Foresters Financial chief executive Emma Sakellaris.
The public appears to be rewarding efforts to reshape the banking and financial advice industry after the royal commission, with advisers and the banks both enjoying an increase in faith from the community.
Approximately a third of SMSF holders under advice will be hurt by the new cap on discounted superannuation balances, the researcher says. A bump in the TBC cap will help some, but add to complexity for advisers.
Financial advice will take a different shape in the future, with the infamous Statement of Advice no longer mandatory and swathes of red tape slashed. The government has also plumped for super funds to play a much larger role in the advice spectrum.