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Founder of Learn to Trade, Greg Secker’s investment journey began with him working in IT on a trading floor supporting the largest currency trader in London. With no real knowledge of finance and a $5000 gift from his mother, Greg entered the trading game and joins the Nestegg podcast to discuss his journey to success.

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Having previously joined the show to share how he is making a full-time income in only a few hours a week, Greg Morgan also joins host David Stratford to share how Learn to Trade set him on the path toward financial success, and why mindset and positivity is key to success as a trader.

The pair will explain why the current climate is the perfect time to be trading, explain the 5-2-1 rule and why it is so important, and reveal what the best investors are doing to cement their success.

You can keep up to date with what Learn to Trade 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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Sunday, 08 December 2019

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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. 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 leveraging their insights to grow your portfolio.