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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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Wednesday, 29 January 2020

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Westpac banks most wealthy customers out of big 4

By Cameron Micallef · November 22 2019

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Earn

Westpac banks most wealthy customers out of big 4

By Cameron Micallef
November 22 2019

Reading:

Westpac banks most wealthy customers out of big 4

By Cameron Micallef · November 22 2019

Reading:

Westpac has the largest proportion of high-net-worth individuals out of the four major banks, according to new research.

Data released by Roy Morgan, which looked at consumer financial behaviour in the last six months, found that 35.6 per cent of Westpac’s customers were in the wealthiest third of Australia.

While Westpac attracts high-net-worth customers, Australia’s largest bank, the Commonwealth Bank, has 37.7 per cent of its customers being in the bottom 30 per cent of net wealth.

It also has the lowest percentage of wealthy Australians banking with it, with just 23.7 per cent.

Michele Levine, chief executive of Roy Morgan, said the data shows net wealth has a clear relationship with banking satisfaction.

“The drop in customer satisfaction, which coincided with the banking royal commission, was driven by the wealthiest 70 per cent of Australians, with the poorest 30 per cent showing relatively little change over time,” Ms Levine said.

Roy Morgan reported the wealth-linked gap in banking satisfaction levels has grown over time.

In 2013, the satisfaction level of the wealthiest Australians was 80.8 per cent, only 2 per cent less than 82.8 per cent of the poorest Australians. In six years, the difference has more than quadrupled to 9.3 per cent.

ANZ has 30.4 per cent, while NAB has 33.6 per cent of high-net-wealth individuals.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.