Finance
Urgent superannuation warning for thousands as Aussie loses $165,000: ‘I just clicked’
Thousands of Australians are still likely in the dark about losing hundreds of thousands of dollars in their retirement savings. Authorities are still waiting for victims to come forward after more than a $1 billion was quietly lost from superannuation funds of workers across the country.
Social media ads and aggressive sales tactics were used to lure in regular working Australians. That was the case for Queensland woman Claire* who was encouraged to move her superannuation into a new fund and ultimately lost $165,000 when she later learned it had disappeared.
Claire only realised something was wrong when she received a strange email from “equity trustees” which in the moment didn’t mean anything to her at all.
“I was just lucky that I clicked on it,” she told Yahoo Finance.
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Claire, who works in education, admits she isn’t a sophisticated investor. She paid almost no attention to her superannuation but came across an ad while “doomscrolling” Facebook that caught her eye.
“It was along the lines of nine out of 10 super funds are underperforming. Is your’s one of them?” she recalled. “It wasn’t dodgy looking.”
She clicked to find out if her super fund was on the list.
“To get the article you had to put your name and your phone number and your email in, or something like that.”
However when she did, she didn’t get an article. Instead she got a call from a business on the Gold Coast.
Claire was urged to send through her latest superannuation statement, which she did, and that’s when the “constant” calls started.
Despite her reservations and skepticisms – and repeatedly declining their overtures – the pushy tactics from financial advisors on the other end of the line eventually wore her down and she was convinced to move her superannuation from industry fund QSuper to a fund she couldn’t actually find anything about on Google, called NQ Super.
“They essentially had an answer for everything and made it sound safe as houses, and if I didn’t do this I’m an absolute idiot… They sort of played on my naivety and my lack of knowledge of the super system,” she said.
In her late 30s, Claire was promised much higher returns by the time she retired if she switched.
In a subsequent statement of advice put together by an advisory firm called Venture Egg, and seen by Yahoo Finance, she was told the money would be put into mostly standard investments such as the Betashares Nasdaq ETF and Vanguard ETF funds for Australian and international stocks – common, low risk products that track broad sections of the stock market.
Written by Jitendra Parashar at The Motley Fool Canada
Dividend investing can be one of the simplest ways to build long-term wealth while creating a steady stream of passive income. But in my opinion, a good dividend stock is about much more than just a high yield. Beyond dividend yield, investors should also look for companies with durable businesses, reliable cash flows, and a history of rewarding shareholders consistently over time.
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Two Canadian financial stocks that stand out right now are AGF Management (TSX:AGF.B) and Toronto-Dominion Bank (TSX:TD). Both companies offer attractive dividends backed by solid financial performance and long-term growth strategies. In this article, I’ll explain why these two financial stocks could be worth considering for income-focused investors right now.
AGF Management stock continues to reward shareholders
AGF Management is a Toronto-based asset manager with businesses across investments, private markets, and wealth management. Through these divisions, the company offers equity, fixed income, alternative, and multi-asset investment strategies to retail, institutional, and private wealth clients.
Following a 59% rally over the last 12 months, AGF stock currently trades at $16.67 per share with a market cap of roughly $1.1 billion. At current levels, the stock offers a quarterly dividend yield of 3.3%.
One reason behind AGF’s strong recent performance is its increasingly diversified business model. The company has expanded its investment capabilities and broadened its geographic reach, helping it perform well across varying market environments.
In the first quarter of its fiscal 2026 (ended in February), AGF posted free cash flow of $36 million, up 14% year over year (YoY), driven mainly by higher management, advisory, and administration fees. These fees climbed to $92.5 million as demand for the company’s investment offerings strengthened.
AGF has also been focusing on expanding its alternative investment business and introducing new investment products. With strong cash generation and growing demand for alternative investments, AGF Management looks well-positioned to continue rewarding investors over the long term.
TD Bank stock remains a dependable dividend giant
Toronto-Dominion Bank, or TD Bank, is one of North America’s largest banks, serving millions of customers through its Canadian banking, U.S. retail banking, wealth management and insurance, and wholesale banking operations.
Finance
Martha Aguirre, former El Paso ISD interim superintendent, resigns as CFO as district finds ‘key financial challenges’
El Paso Independent School District Chief Financial Officer Martha Aguirre, who served as interim superintendent last year, resigned this week as the district said it had discovered “key financial challenges.”
The district issued a news release late Thursday afternoon that lacked details but indicated that a recent review had raised questions about the district’s fund balances, a key indicator of financial health.
“Through this process, key financial challenges were identified that must be addressed prior to closing out the 2025-26 school year including a current budget shortfall that is being actively addressed ahead of the district’s final financial presentation to the Board of Trustees in June,” the news release said.
A CFO is charged with developing a school district’s budget and overseeing its finance department. The EPISD Board of Trustees must adopt a budget for the 2026-27 school year by the end of the fiscal year June 30. The operating budget for the current school year is $547 million.
EPISD Deputy Superintendent David Bates will oversee the budget while the district searches for an interim and permanent CFO, district officials said in a statement.
EPISD Board President Leah Hanany said trustees were notified about Aguirre’s resignation this week. She said the district plans to give the public more information on the current year’s budget during a board meeting later this month.
“The board was also notified of a potential budget shortfall for the 2025 budget, but we don’t have final numbers yet. My understanding is that we are still primed to pass a balanced budget for fiscal year 2026-27 in June,” Hanany said in a statement.
Aguirre could not be reached for comment. EPISD’s CFO makes $148,200 to $209,900 a year, according to the district’s administrative pay plan.
She served as EPISD’s interim superintendent from June to December 2025 after the district’s former superintendent, Diana Sayavedra, resigned under pressure from the board. She returned to her position as CFO when Brian Lusk was hired as EPISD’s new permanent superintendent.
Aguirre’s resignation comes amid an uncertain budget season after a state funding calculation error tied to school property tax breaks caused EPISD to lose out on $17 million in projected revenue. In late April, EPISD officials estimated it would cause the district’s spending to exceed its revenue next year by $10 million.
The district is also considering calling for a bond election in November to upgrade its aging campuses as part of the larger 2024 Destination District Redesign initiative to close schools and improve the ones that remain open.
El Paso Teachers’ Association President Norma De La Rosa said Aguirre’s departure was unexpected.
“We’re right in the middle of the committee meetings for a possible bond and getting ready to get that budget to the June board meeting for next school year. So, to say that I’m highly surprised is an understatement,” De La Rosa told El Paso Matters.
Aguirre started working with the district in 1996 as a general clerk, according to a video published by the district.
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