Hewison Insights

There are definitely reasons to be optimistic about the Australian economy. The back half of 2020 signalled the first time in 60 years of data that we have seen two quarters in a row of over 3% economic growth each quarter.   

Recently the Governor of the Reserve Bank of Australia (RBA), Dr Philip Lowe, gave an address to the National Press Club in Canberra, titled “The Year Ahead”.  The address gave some indications of the RBA’s view of the economy and importantly their view on the future, which I recap in this week's blog.

With the release of the  Average Weekly Ordinary Time Earnings (AWOTE) index this week, we can now be certain of the caps that apply to superannuation contributions for the 2021-22 financial year.

The future of financial planning has felt a little uncertain over the last few years after the raft of significant (but very necessary) reforms, with many financial advisers leaving the industry. Some speculate the future is digital and potentially in the form of ‘robo advice’.

ASIC and APRA recently released insurance claims data which showed that claims on individual advised insurance products are accepted and paid out more often than individual non-advised or direct insurance products. That's pretty compelling.