What a year 2020 has shaped up to be thus far!
This time last year, we never imagined spending almost 7 months living with restrictions and for some of us, turning our homes into our workspace. Whilst the lockdown restrictions stopped our team from being physically in the office, we have been lucky enough to have an agile business with advanced technology and processes in place allowing for a seamless transition. Entering into a more digital workforce has not held us back as we have successfully conducted meetings and webinars with our clients over video conferencing technology, mainly Zoom. The ease of this technology has some clients requesting for one meeting a year to be conducted this way in the future.
Amidst this pandemic, 2020 has given all of us time to reflect, appreciate the smaller things and getting to know our local areas more intimately. We have enjoyed hearing about your new hobbies, creative projects and how you have been keeping active during this time.
After spending almost 4 months in lockdown, this week we were given the good news of our city re-opening. Restaurants have welcomed diners; retailers have opened their doors once again to customers and appointments have been made with hairdressers. Whether you agree with the strict measures or not, our combined efforts have helped us achieve this outcome.
Please continue to take care of your health and wellbeing and take every opportunity to meet with a friend for a picnic or stroll as remaining active is ever so important nowadays. As spring has finally arrived, take advantage of the sunshine and longer periods of daylight. Hopefully visits to loved ones in their homes will be allowed soon.
If at any time, you would like to discuss a matter, please do not hesitate to contact our team on 1300 769 304. Alternatively, I can be contacted on 0488 993 175 and Tony on 0421 344 238.
Thank you for taking the time to read this edition of Affinity Insights.
Our objective to remain as independent financial advisers began a couple of years ago; and on the 3rd August 2020 our ASFL went live. We are always looking for ways to improve our service to clients. Trading under our own licence enables us to continue providing you with independent advice, service and solutions enhancing the financial outcomes of your investment portfolios.
Earlier this year, we established an investment committee and engaged an external responsible entity (RE) and investment portfolio manager. Our relationship with Drummond Capital enhances our capability to source industry leading investment solutions integrating tactical asset allocation that assists us in preserving our client’s investment capital from downside risk. Incorporating an RE improves our corporate governance and compliance processes.
For updated financial services guides please click on the links below.
Rodney DeGabriele FSG
Tony Vikram FSG
It has been around two and a half weeks since our last Market Update. It feels a lot longer. The speed at which new information is being revealed is unprecedented. Market moves during this time have reflected this. The initial move down was the fastest in history. Daily volatility has been extraordinary. Markets don’t know where they want to go, but they will get there quickly.
We rounded out our last Update by highlighting the binary nature of potential outcomes. Either:
So far, the balance of probabilities hasn’t really shifted in either direction.
To continue reading our latest Market Update please click here
The impact on Australia’s economy, community and health system has been overwhelming during the COVID-19 pandemic, with the Government providing over $257 billion in stimulus. In doing so, the Treasurer had the unenviable task of revealing the Budget deficit will increase to $213.7 billion this fiscal year.
The major focus of this years Budget is the path to financial recovery with the plan focused on growing the economy so Australia can create jobs, increase economic resilience and create a more competitive and income generating economy.
To read more on the measures announced in this years Federal Budget click here.
We have all missed meeting our friends for brunch, a drink at the bar and celebrating a birthday at our favourite restaurant. However, lets spare a moment for those in the hospitality industry who tirelessly provide us with the venue and atmosphere for these meet-ups, many of whom have lost their jobs by no fault of their own. Data has revealed that more than one third of Australia’s accommodation and food services employees lost employment between March and April, as COVID-19 restrictions began. With restaurants only being allowed to reopen (with COVID-safe plans) this week, these industries have been hit hard in the past six months and now more than ever, their employees need our support.
A few options to consider next time you don’t feel like cooking –
Following on from the last edition of Affinity Insights, the team created a steps challenge to get everyone out of the house and active. We took part in this challenge for 2 months, keeping track of our daily steps and tallying them at the end of the week. This created a healthy competition which motivated everyone to participate. The results were outstanding, and everyone felt more energetic. Jessica was the ultimate winner, amassing approximately 416,000 steps during this period. This is the equivalent of a round trip to Lorne by foot.
We congratulate Jessica on her efforts and encourage everyone to start a challenge with their family and friends.