In this episode of the Daily Financial Services News Wrap, we discuss key issues in the Australian financial industry. Topics include the first National Climate Risk Assessment by the Australian government and its impact on insurance availability due to natural disasters; the disconnect between financial advisors and their clients' emotional need for control over their finances, as revealed by a recent report by Russell Investments. We also review new legislation by ASIC, consolidating past documents yet maintaining the need for clarity between general and personalised advice. Additionally, we navigate the consumer price landscape, noting the increase in the cost of living, but hopeful signs as economic conditions improve with wages outpacing prices. Lastly, we highlight the possible rate cut by the Reserve Bank due to current inflation levels. Remember, Financial Services Online is dedicated to all your financial needs.

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