In this episode of the Daily Financial Services News Wrap, Paige Estritori discusses key Australian financial news. She starts by addressing the urgent need for uniform performance assessment standards within Australia's managed accounts industry to ensure transparency and client trust. The issue of housing affordability is also examined, with lenders like Pepper Money proposing a 40-year mortgage – an option which may lead to inflating housing costs further. A debate concerning personal wealth versus government welfare is unfolding, following a case of an elderly couple who risk losing part of their age pension due to asset accumulation. Finally, Estritori discusses the rising concern of mental health issues among young adults leading to a surge in disability claims. This calls for improved prevention measures and support for mental well-being.
