In this episode of Financial Services Online's Daily News Wrap, Paige Estritori discusses key issues in the Australian financial landscape. She opens with a warning from the Australian Competition and Consumer Commission about cold-callers exploiting legal loopholes to target super holders. These scammers pressure victims to switch their funds to underperforming platforms with high fees. The podcast also touches on the Commonwealth Bank's prediction of a delay in Reserve Bank of Australia's anticipated rate cut due to rising unemployment rates and fewer working hours. Estritori also discusses ongoing inflation worries, despite a proposed federal energy rebate. The episode wraps up with key financial changes to anticipate in the new financial year starting July 1, 2024, including tax adjustments and minimum wage increase. Lastly, Christine Cupitt, CEO of the Council of Australian Life Insurers, emphasizes the importance of a collaborative future with financial advisors.
