News this Week What we Liked? The ASX 200 Index closed the month up 1.21% driven by the teleco’s and tech companies despite the negative fall-out from an ugly month of politics. Positive gains were largely driven by low consensus expectations. This meant a larger number of companies were able to post a set of in-line results. Australia’s unemployment rate hit its lowest level in almost six years. The jobless rate fell to 5.3% in July, a level not seen since November 2012. Just over 19,000 full-time jobs were created in July, but part-time work is down. New South Wales saw its jobless rate increase, it has the lowest unemployment rate in the country. There is mounting pressure on the big banks and wealth management firms to ditch grandfathered commissions and kickbacks paid to financial advisers following revelations from the royal commission. It found these payments encourage advisers to put their interests before their clients’ by keeping them in legacy products instead of moving them onto better products. It should be noted that Wattle Partners do…

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