This episode of Financial Services Online discusses key financial issues including a major ruling by the Australian Financial Complaints Authority, the role of social media in finance, rising household savings, and upcoming superannuation tax changes. The ruling underscores the importance of full disclosure when dealing with insurance companies. The Australian Securities & Investments Commission warns 18 'finfluencers' about unlicensed online financial advice, part of a global crackdown on such practices. Despite increased incomes, Australians continue to save, pointing to concerns about economic stability and its potential impact on sectors like retail and hospitality. Potential changes in superannuation taxes have sparked warnings about the financial security of future retirees. Remember to verify the credentials of financial advisors and stay informed to ensure financial well-being.
