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.”
AUTHOR
Anastasia Santoreneos
Recommended for you
Zenith Investment Partners has appointed an experienced research executive as its new group head of research following the departure of Bronwen Moncrieff.
The financial services technology company has appointed two non-executive directors following its AGM earlier this year, where it flagged it would embark on a board renewal process.
Several wealth management companies have been selected as finalists at the inaugural awards, which champions those who have transformed the Australian economy with their AI solutions.
Money Management’s sister brand Super Review is pleased to reveal that over 120 finalists will compete for trophies at this year’s awards.
