In this financial news update, uncertainty looms over Australia's financial advisory sector with significant annual decreases in total advisors. This affects not only competition for talent but also limits client access to expertise, particularly at smaller firms. Wilson Asset Management proposes a Progressive Super Surcharge and Tax Offset with progressive tax rates, offering a potential $2.433 billion in government revenue and a more equitable approach to superannuation. Seniors First highlights an increasing concern among older Australians about reverse mortgage complexities. The Council of Australian Life Insurers is set to begin a comprehensive review of the Life Insurance Code of Practice, ensuring reliability and relevance within the life insurance industry with the results due mid-next year. Find out more on Financial Services Online website.
