Dangerous liaisons

More people are falling victim to online dating scams, says the Australian Competition and Consumer Commission. The risk is not limited to victims sending money — scammers try to steal identities and bank details or may take more sinister action, such as kidnapping. Check on scamwatch.gov.au/DatingRomanceScams.

No small saving

Research comparing the average interest and fees charged by the big four banks against the four-cheapest advertised market rates shows bank customers could save up to $6.7 billion annually on home loans, $356 million on credit cards and $440 million on other financial lending products, such as car loans. "When comparing the total amount of interest and fees paid by customers over a year, the big four remain significantly more expensive than many smaller institutions," InfoChoice's Shaun Cornelius says.

Unease over equities

Although global equities are now fair value, markets are in for a bumpy ride with many risks still facing global economies, such as high government debt and the potential to slip back a gear if stimulus spending is withdrawn too quickly. "The case to be overweight in global equities is no longer as strong and we advocate investors move gradually back towards benchmark weight," Mercer's David Stuart says.

Super lesson learnt

The difficulties faced by older members of default super funds were highlighted during the GFC. "Many investors close to retirement found themselves in 'one size fits all' default asset allocations comprising around 70 per cent growth assets," says JP Morgan's executive director, equity derivatives and structured products, David Jones-Prichard. But moving older investors into lower-risk asset allocations means lower returns. The solution is "alternative styles of investment" that are more closely tailored to "offer strong growth while at the same time limiting risk".