MoneySmart website one year on
One year after the Australian Securities and Investments Commission (ASIC) launched its MoneySmart website, budget and retirement planning applications have proved to be the most popular consumer tools for the website's users.
The website's budget planner, which allows users to save and update their figures on the site, has been used by 28,000 people per month, while the retirement planner has been used by 6,000 users per month, the regulator stated.
During the past year users have regained access to $60 million via the website's unclaimed money search function.
"We know the best way to help people with their money is to give them simple practical guidance and achievable first steps, packaged in a clear, inviting design," said Delia Rickard, ASIC's senior executive for financial literacy and consumers and retail investors.
Referring to the '2011 Sweeney Research Report: Awareness and Usage of MoneySmart Website', ASIC stated that 91 per cent of users said they had taken specific action in relation to their finances as a result of visiting the site.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
