Mon, 28th Jul 2025

In this week's financial wrap-up, the Australian Securities and Investments Commission (ASIC) has launched an investigation into debt management and credit repair firms amidst concerns of consumer exploitation. The investigation targets approximately 100 licensees, spotlighting industry malpractices. In a different stream, The Reserve Bank of Australia has cut the official cash rate by 25 basis points twice, to stimulate economic activity. However, lack of wage growth and rising household costs continue to stress the mortgage sector, despite these measures. Unexpectedly, the RBA held the interest rates steady at 3.85 percent, creating a measure of financial stability. In mergers and acquisitions news, BetaShares announced its acquisition of Trellia Wealth Partners, an independent firm managing $8 billion in funds under new branding, to cater to increased demand in Australia's financial advice sector. The partnership with Sydney-based InvestSense is expected to conclude by Q3 this year.