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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Major bank instigates financial hardship specialist team

By Grace Ormsby · September 16 2019

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Borrow

Major bank instigates financial hardship specialist team

By Grace Ormsby
September 16 2019

Reading:

Major bank instigates financial hardship specialist team

By Grace Ormsby · September 16 2019

Reading:

Scams, fraud, domestic and family violence, elder abuse, low financial literacy and gambling addiction will all be in the sights of a big four bank’s new customer service initiative.

Comprised of a new specialist team of bankers dedicated to recognising and responding to signs a customer is experiencing vulnerability, the new service announced by NAB aims to help detect the early stages of financial hardship and provide assistance to such customers.

According to NAB’s chief legal and commercial counsel, Sharon Cook, the new team of bankers “provides support well beyond that of traditional financial hardship assistance”.

“Every year we assist 1.4 million customers experiencing financial difficulty due to events such as injury, illness and unemployment,” she outlined.

“This support hub enables us to be more proactive by identifying hurdles our customers are experiencing and providing them with extra care.”

The support hub’s announcement follows a successful trial of the specialist service in June which was able to help more than 500 customers.

“By referring customers to community partners, we have been able to provide much-needed assistance to those experiencing elder and financial abuse, mental illness and credit card debt,” Ms Cook explained.

“We have also, at the request of customers, applied restrictions on gambling transactions on credit or debit cards that prevents them going further into debt.”

The service hub has also involved the setting up of a dedicated Indigenous customer service line for our Aboriginal and Torres Strait Islander customers living in remote locations, “which is making a huge difference to how they access banking services”, according to Ms Cook.

The support hub’s creation is an action under the bank’s new customer vulnerability framework, which is purported to enable a more inclusive banking service “and better support for our customers in hard time”.

“The simpler and more inclusive we can make the process of managing the financial impacts associated with vulnerability, the lighter the load for our customers,” Ms Cook said.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.