Wealth-Advice Void Lures Wall Street Giants to Australia

Good morning everyone, Melbourne is already warming up fast and I’m here with all the news you need to know today. Years of superannuation gains and a house price boom have set up Australians as some of the richest people in the world - and now US giants are swooping in to capitalize on that. Treasurer Jim Chalmers will be in need of some good news after a big miss in the GDP numbers. Meanwhile, there will likely be smiles over at Nvidia today, who are on the brink of a big lobbying win on chips.- Ben Westcott, Asia Agriculture reporter

Wall Street’s biggest names are piling into Australia’s A$4.5 trillion retirement market, drawn by vast household wealth and a chronic shortage of financial advisers. BlackRock, Goldman Sachs and others see opportunity — but also tougher rules, rising costs and a system struggling to help millions turn savings into income.