Recent upgrades to the Commonwealth Bank’s “My  Wealth” platform have made an already powerful personal finance manager even more versatile. My Wealth enables you to build a diverse portfolio of investments including cash, property, shares and super in one place, with all  the resources, guidance and up to date news you will need to
succeed.

My Wealth was originally launched in February  2013 and provides every necessary resource to create and manage your wealth.  Developed following nine months of customer centred design research the platform has been designed to assist navigating the world of  investment.

Here are just some of the advantages and features  of this free service available to CBA customers:
       
Portfolio – Single log-in point to access and manage your wealth in one location.
      
Invest – A wide range of investment opportunities including cash,  superannuation, shares and property.
   
News – The app keeps you totally informed with news insights and  guidance.
   
Communities – Where you can share ideas with like-minded  investors.
     
Watchlist – Allows you to create a dummy portfolio to keep an eye on the performance of companies, suburbs or properties without having to invest a cent.
      
My Wealth Guide – An informative guide acts as a resource to help you navigate the world of investments.
    
Health Check – A compilation of tools to help you check the health of your portfolio in real time.

 Through the platform you can choose to invest in over 200 ASX listed companies, exchange traded-funds or invest in ready-made investment packs. You can also select from a range of cash investment options  including goal saver and term deposits.

If your investment preference is property you can access powerful suburb and property profiles, seek out properties that meet your specific goals or research information from the expert insights and news provided.

With the Essential Super option you can choose  from straightforward life-stage portfolios or invest in a mix of cash and Australian shares.

 The My Wealth platform provides Australians with  a simple, informed process for creating and managing their own financial future.  Featuring an easy-to-use investment platform, property valuations and search  functionality, stock market watch lists, hosted social communities, alongside  financial news and educational features from a dedicated team of in-house  journalists.

 Learn more at the My Wealth Website.

The Australian Bureau of Statistics has released  the latest version (v1.2) of it’s informative “ABS Stats” Mobile App, now  available from the App Store for iPhone, iPad and iPod Touch devices. This  versatile data App was recently a finalist in the “2013 Excellence in Government Awards” for Service &  Delivery.

 The  App is extremely useful for  assessing demographics in relation to property buying for owner-occupiers and  investors alike. It essentially provides a snap shot of an area and compares it  to other areas you may be more familiar with, allowing the user to assess how  the demographics compare and how that changes the infrastructure and services  available.

The ABS Mobile App offers four categories of data & information:

Key  Indicators:
With access to 33 key economic indicators  including CPI, GDP and unemployment updated constantly as new data becomes  available, this category will assist with making better purchasing  decisions.

Census  Data:
Providing the most up-to-date data about people,  families and dwellings in postal zones and Commonwealth electoral divisions  helping to detail specific information about any area you may be considering  purchasing in.

 Population:
This option allows you to view population growth in a specific area with real time updates and calculates projections in forward time.

 The ABS Stats mobile app is available for download from the iTunes store  for free.

The MFAA is the peak nationl body providing service and representation to 9,500 professionl credit advisers. This year, the MFAA terminated the memberships of 1,100 broker members this year according to the Australian Broker Issue 10.07 All loan writing members must have successfully completed the Diploma in Financial Services  or equivalent to continue their memberships with MFAA.  MFAA continues to raise the bar for industry standards for mortgage brokers, which is why using an MFAA accredited mortgage broker is so important. Wilson Financial are accredited members of the MFAA and have been for over a decade now. Member number 8848.

The MFAA said all members were reminded of the requirements 'many times' over the last 12 months, following the national board's decision to actively demonstrate that members have high standards of professionalism and qualifications with consumers and regulators.MFAA CEO, Phil Naylor, said the organisation is both pleased and 'not surprised' that more than 88% of its members are now qualified, with expectations that many of those whose membership has been terminated will seek to have it reinstated within the next two months by providing evidence of the required education qualifications.
The lesson here is to ensure you are using a MFAA accredited broker. Wilson Financial recognizes the other governing body the FBAA as an alternative to MFAA.

BIG FOUR HAVE MORE ROOM TO MOVE - (Australian Broker Issue 10.07)
The big four have more room to move on home loan rates than their non-major rivals, according to the RBA.
Benn Robertson and Anthony Rush of the RBA's domestic markets department, said a tougher funding environment exists for non-major banks compared with the big four, despite the fact overall funding costs have dropped across the sector along with falling interest rates.
"For the regional banks, the evidence suggests that the overall increase in funding costs since the onset of the GFC has been larger than the increase in funding costs experienced by the major banks
""A large portion of this increase has been driven by the substantial shift in the composition of regional banks 'funding liabilities away from securitisation and towards relatively more expensive deposit funding, as well as an increase in the cost of their deposits and wholesale debt funding" they said.

Liz's opinion - "Major banks have been more consistent on their package discounts and unadvertised pricing concessions than non-majors.  We take this into account as a loan term is 25-30 years, so we don't just opt for the 'flavour of the month' lender. 

Taken from the MFAA Magazine.....  and the Editor's Comment
According to research group comparator, mortgage brokers have broken through the $100 billion barrier of home loans written during the 2012 calendar year.  Research from the top 16 aggregators in the industry found that brokers originated for than 40% of all new residential lending in 2012 and experienced a surge in lending volumes during the December 2012 quarter alone to $27.2 Billion - up 5.5% from the previous quarter.  The research also revealed that a broker's average home loan value was $337,000
The MFAA opposes any further regulation of the finance industry until at least 2016, or until the NCCP ACT and the Enhancement ACT can be fully assessed.
Watch this space!