GFM Wealth Advisory - Self Managed Super Fund Specialists, Investment Management, Financial Planning, Accounting

We held our lunch seminar on Monday 7th September 2015 at Riversdale Golf Club where we discussed the Centrelink system. There have been some very significant changes to the age pension system over the last 6 months. From the 1st January 2015, new Account Based Pensions (ABP) are deemed for the Centrelink Income Test and effective from the 1st January 2017 there will be changes to the Assets Test thresholds.

The session gave those currently receiving the age pension an understanding of what impact these new changes will have.

This was a very popular topic and we had a full house, having 119 clients and guests attend on the day.

Paul Nicol and Patrick Malcolm were the presenters on the day. Their presentation covered:

Overview of the Centrelink/DVA Age Pension System
The benefits of seeking advice
Eligibility – Asset and Income Tests
Deeming
Commonwealth Seniors Health Card
Important Changes to the Assets Test
Practical Case Studies

The feedback from the attendees was excellent, they found it most informative and told us they gained significant benefit from attending.

Centrelink planning is a complex and important part of the financial planning process and not understanding the system can lead to sub-optimal results.

If you would like to make a time with your adviser to discuss Centrelink Age Pension Planning or if you were unable to attend and would like a copy of the presentation, please call Mai on 9809 1221.

We held our second Quarterly business Lunch for the year on Thursday 18th June at Riversdale Golf Club. This was well attended by 85 clients and guests.

Our special guest presenter was Stephen Halmarick, who is the Head of Economic and Market Research for Colonial First State Global Asset Management.

The current economic backdrop is both challenging and complex. In Australia, many parts of our economy are underperforming, there is more evidence of a slowing economy in China, economic growth in the United States seems to have stalled and again it appears Greece is getting much closer to default.

Stephen gave an overview of the current Global economic backdrop, and how this is likely to affect investments markets over the next couple of years.

Stephen’s presentation covered the following:

Global – Growth moderate but should improve

Central Banks becoming more aggressive with greater divergence
Impact on bond markets has been dramatic
Oil leading inflation down

US – Getting closer to the first interest rate hike

Employment growth remains solid, despite a hiccup
Inflation – too low
When to raise rates, not if!

China – Slower growth, easier policy

A changing mix of growth

Japan – Mass stimulus, but inflation still low

GDP growth recovering
Deflationary concerns lead to Bank of Japan action

Europe – Stimulus helping, Greece the worry

Growth starting to improve
European Central Bank (ECB) balance sheet set expanding
Inflation ticked up, reinforcing ECB’s plan
Bond markets continue to rally (except Greece)

Australia – Below trend growth, transition continues

Economic growth rate below average and income growth flat
Mining investment slowing, non-mining not recovering. Is the hurdle rate to blame?
A lack of animal sprits; consumer & business confidence is low
Unemployment expected to peak at 6.5%
Inflation contained
Housing market very strong
Budget position deteriorating – but debt levels low by global standards
RBA still concerned about high AUD

The feedback from the attendees was excellent. Clients felt the presentation was exceptional and expressed how much they enjoyed the presentation and the way it was presented.

If you didn’t attend the session and would like to receive a copy of the presentation emailed to you, please call Mai on 9809 1221.