O’Dwyer launches National Financial Capability Strategy


Minister for Revenue and Financial Services, Kelly O’Dwyer, has launched the 2018 National Financial Capability Strategy, which aims to help Australians improve their skills in managing money, making informed decisions and planning for the future.
The strategy rolls off the back of the Australian Securities and Investments Commission’s (ASIC’s) revelations that if financial capability levels were marginally lifted, the present-day benefit of improved money behaviour over the next 30 years would increase consumer wealth and consumption by $212 billion.
ASIC chair, James Shipton, said the program would allow Australians to access the information and guidance they need to ensure they make informed decisions.
“The financial sector as a financial community should be engaging in practices that promote fair consumer outcomes,” he said.
“In particular, we need to continue to encourage women to be more confident with money, young people to find the information they need when they need it and support Indigenous Australians to access appropriate financial products and services.”
Recommended for you
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
Global wealth management platform FNZ has appointed a new group head of APAC, while boutique investment manager TWC Invest welcomes a chief technology officer.