In this episode of the daily Financial Services News Wrap, we touch upon the recovery in the advising sector amidst industry volatility, with a surge of 120 new advisers this financial year. While firms like WT Financial and Count Financial prosper, others like MWL Group struggle. Next, the urgent need for superannuation reform is discussed, with unpaid superannuation bills at a shocking $5.7 billion. The Super Members Council calls for the implementation of payday superannuation legislation by July 1, 2026. The Retirement Income Covenant by the Super members Council also faces scrutiny from ASIC and APRA. Lastly, we discuss Australia's grim financial outlook where state and federal budget deficits total an alarming $52 billion, emphasizing the urgency of fiscal reform. Tune in to stay informed about insurance, finance, superannuation, and money management.
