Iress Limited, in collaboration with Deloitte Access Economics, has released a new report titled "The Big Lift," analyzing the state of financial capability among Australians. The study reveals that 59% of Australians possess low levels of financial capability, with only 17% reaching advanced proficiency. The report highlights the imminent $5.4 trillion intergenerational wealth transfer expected by 2050 and warns that many younger Australians lack the necessary skills to manage this wealth, making them susceptible to poor financial decisions and scams. Iress emphasizes the need for collective action across the financial services industry, encouraging advisers and super funds to embrace digital advice solutions, simplified products, and enhanced financial education. The report suggests that improving financial capability can boost national economic resilience and create significant growth opportunities for financial advisers and institutions.