In this episode of the Daily Financial Services News Wrap, we discuss recent affairs within the Australian financial industry. The Reserve Bank of Australia's Deputy Governor defends their decision to cut the cash rate from 4.35% to 4.10% in February, highlighting a focus on balancing growth and inflation despite rising concerns. In the superannuation sector, UniSuper has partnered with Ignition Advice to launch a digital advice platform, reinforcing a trending shift towards digital financial advisories. Additionally, Opposition Leader Peter Dutton's plan to dismantle major insurers to reduce premiums faces industry opposition, with critics emphasising the need to improve disaster readiness as a more sustainable solution. Lastly, we examine platform providers' move to diversify their alternative asset offerings for high-net-worth clients, with significant moves by Netwealth, BT Panorama, Praemium, and HUB24 highlighting a trend towards specialization.
