IN THIS ISSUE
- The Start Of A New Decade – What’s In Store For 2020 and Beyond
- Rob & Necia Richards – Clients Since 1996
- Update – ATO Online Services For Self Managed Super Fund Members
- Staff Profile: Denise Slattery
- Case Study: Want To Build Your Superannuation And Need A Tax Deduction?
- Spectacular Returns Of 2019, Not Likely To Be Repeated
- 10 Year Dinner
- GFM Teams Take Part In The Oxfam Trailwalker in March 2020
- Nicola Joins The Board Of the Pro Bono Financial Advice Network
- Upcoming Seminar – Monday 2/3/20 at 7:15pm – GFM’s Top 10 Investments For 2020 Explained
- Christmas Cards and Charitable Donations
THE START OF A NEW DECADE:
WHAT’S IN STORE FOR 2020 AND BEYOND?
By Paul Nicol
Happy New Year!
We trust you had a fantastic festive season, and now that we are in early February, you have had an excellent start to 2020.
2019 in many ways, was a landmark year dominated by geopolitical events including the US/China trade war, Brexit and the Iran/US conflict. Domestically, the Federal election dominated the news in the first half of 2019 and unfortunately, as the year closed off, the terrible devastation of the bushfires is sharply etched in our memories. Our hearts go out to those both directly and indirectly affected by the fires.
In many ways, it was a fatiguing period of negative news, but despite this negative news backdrop, 2019 proved to be an exceptional year for investors with strong returns achieved in both global and domestic equity markets.
With a well-earned break, we come into 2020 refreshed and looking forward to the challenges of the year. In this first edition of Trade Secrets for 2020, we spend some time focusing on what happened in share markets in 2019 and share some special initiatives for the year ahead.
We wish you all the best for 2020.
ROB & NECIA RICHARDS:
CLIENTS OF GFM SINCE 1996
By Paul Nicol
Rob has kindly written the article below on their working life, family, travels, and experiences with GFM Wealth since 1996. We much appreciate Rob’s contribution to Trade Secrets.
Necia and I have been clients of GFM since 1996, and we have been incredibly lucky to receive valuable financial advice from GFM on our SMSF and SMSF investments, and more recently, tax planning from GFM Gruchy.
Necia spent the latter part of her working life as a legal receptionist with Baker McKenzie and Rigby Cooke before retiring and providing invaluable guidance and support with my business. I have been a pharmacist for over 50 years, owning three different pharmacies and more recently operating www.idose.net. iDose is a computerised dosing system for patients on drug addiction therapy, which employs iris recognition and other sophisticated technologies to deliver doses, manage records and reporting. It provides services to prisons, hospitals and pharmacies throughout the country.
About 18 months ago, we moved to Portsea, which has been a massive drawcard to our family. I have 8 grandchildren with my first wife, who sadly passed away, and now a grandson with Necia with another one pending. It is an exciting time. Being a larger property, it has been quite an upgrade from our apartment in Toorak with considerable gardens, lawns, a pool, and tennis court keeping us busy. We have recently completed all the improvements and renovations to this property and we are now thoroughly enjoying all the initial efforts.
Now the hard work on the Portsea site is “under-our-belt”, Necia can get back to her pleasure and talent as an artist. She is renowned for large canvases (www.ipaint.org.au) and has been appreciated by a local TV personality even accepting a few small commissions. However, our house is by far and away Necia’s most significant art gallery. On the other hand, I have re-joined Sorrento Golf Club and I am incredibly keen to play more regular games on this fantastic track.
Together we look forward to expanding our exploration via Silversea Cruising in August this year. This Grand Mediterranean Cruise visits many of our favourite countries and ports for 37 days in 9 countries plus many new destinations we have not visited before.
Our initial years with GFM were quite agreeable but became more satisfying and rewarding when Paul Nicol joined the company. His experience in finance and thoroughness in research showed synergy with my training and background, holding an MBA degree as well as my pharmacy degree.
Paul has collected a talented team around him and now includes Andrew Goldman at GFM Gruchy Accounting. So much so we have moved our personal and business accounting to this “one-stop-shop”.
In a volatile financial environment, where Governments are always looking for opportunities to increase their revenues, often at the expense of those who historically have paid the most taxes, it is crucial to have a financial advisor who is a lateral thinker and not just a “follow the leader”, like many.
The benchmarks achieved at GFM during our +20 year relationship have been solid and substantial, we have no hesitation in recommending GFM as a firm of integrity and significant ability. The results we have enjoyed have exceeded any standard, and most importantly, we enjoy our interactions and dealings with the GFM team. We look forward to enjoying our future successes together.
ATO ONLINE SERVICES FOR SELF MANAGED SUPER FUND MEMBERS
By Witi Suma
The ATO has advised that from February 2020, members and trustees of self-managed super funds (SMSFs) will start to receive alerts via email and/or text message whenever changes are made to their SMSF details. These include changes to the super fund’s:
- Bank account details
- Electronic service address (for Superstream employer contribution purposes)
- Authorised contact person
- Member information
From time to time, changes to your SMSF such as these can occur, and they must be reported to the ATO within 28 days of the change, so if you are an SMSF trustee/director, be prepared to start receiving this ATO alert whenever these changes are reported.
This new SMS/email alert system is primarily designed to protect SMSF trustees and members from potential fraud and misconduct. Also, it provides the trustee and members with greater transparency by providing confirmation when any significant changes have been notified to the regulator.
If GFM Gruchy Accounting is the tax agent for your SMSF, they have the authority to notify the ATO of any changes to your fund when they occur. In most cases you would be well aware of the change(s) being reported; however, if you have received a notification from the ATO of a change and you’re concerned that the change has been made incorrectly, or without your knowledge, please don’t hesitate to contact our office in the first instance (if we are your SMSF’s tax agent); or by ringing the ATO Superannuation Line directly on 13 10 20.
Setting up a “myGov” account to receive the ATO notifications:
In 2014, the Australian Government launched “myGov”, a secure way to access Government services online such as the ATO, Centrelink, Medicare, the State Revenue Office, and more recently, My Health Record.
By setting up a myGov account and linking it to your ATO account, most of their correspondence will subsequently be sent directly to your myGov Inbox, rather than by post. This helps to make the transmission of information to you much more secure. Notifications, such as the new SMSF change notifications mentioned above, will be sent to you via email or SMS to let you know when new messages are awaiting you in your myGov Inbox.
You may have already set up a myGov account and have linked it to your ATO account, so you would be well aware that the ATO will periodically send you notifications relating to your personal tax affairs, e.g. the progress of your tax return, reminders to meet ATO obligations to avoid penalties, etc.
Through myGov, you can update your details conveniently and securely, such as your name, address, bank account details, and contact persons authorised to act on your behalf.
Your myGov account also provides you with a summary of your superannuation fund(s), including your SMSF. Some of the data you will have access to via myGov include:
- Your Total Superannuation Balance across all super funds reported to the ATO. This can include details of “lost super” held by super funds you have forgotten about;
- Any ATO-held super – that is, if your employer cannot locate a super fund to transfer your super contributions to, the ATO holds it on your behalf until you claim it from them.
Important Note: the data shown in your myGov account is only as current as what has been reported to the ATO by your superannuation fund(s). Therefore, please contact us to obtain the most up to date figures relating to your superannuation. For example, if you wish to ascertain how much you’ve contributed to super so far this financial year to avoid exceeding the contribution caps, only your superannuation fund will have the latest information, so you must contact the fund administrator directly (this would be GFM if we are managing that superannuation account/SMSF on your behalf).
So that you can begin to receive the messages from the ATO regarding any changes made to your SMSF, you’ll need to ensure that your contact details (i.e. your mobile number and email address) are up> to date with the ATO. You can update this information at any time via your myGov login.
A note regarding online security:
We remind you to be wary of any emails, phone calls, or text messages claiming to be from the ATO, as not all are genuine. The ATO’s email and text messages will never ask for a reply from you by text or email, nor will they ask you to provide personal information such as your Tax File Number or bank account details. Also, the ATO may occasionally use SMS and emails for promotional and information purposes, so if you are ever unsure about whether ATO correspondence is genuine, please either ring the ATO directly on 1800 008 540 (which is a service staffed from 8.00am to 6.00pm every weekday), or contact our office.
If you have any other queries, please contact us.
By Paul Nicol
Denise joined GFM in 2005 as a Para Planner and, in April 2008, moved from her Para Planner position to a Financial Planner position, looking after a number of our valued clients. In January 2013, Denise requested a part-time position to raise her family, and she returned as a Senior Para Planner within the Paraplanning Team.
Here’s a quick Q & A with Denise:
Q. Your family?
A. My family includes my husband Daniel and our two boys, Mitchell, who is 10, and Callum, who is 7. With a household of sport-loving boys, there are always robust discussions regarding the AFL, cricket, soccer. Anything to do with sport, my boys are all over it. Over the summer, I have been called upon on many occasions to be the third umpire in their highly competitive backyard cricket matches.
Q. Favorite holiday destination?
A. I am happy to go anywhere warm and sunny. I am definitely not a snow bunny! My favourite holiday destination to date has been the Amalfi coast in Italy. Positano is such a beautiful part of the world.
A. With working and looking after two boys, I, unfortunately, do not seem to have a great deal of time for any hobbies. One activity I do enjoy, and always make sure I fit it into my busy schedule, is to take some time to exercise. Going to my exercise class allows me time to clear my head and get the old body moving. I think it is essential to keep active, as I am not getting any younger!
Q. Favorite food/drink?
A. I don’t really have a favourite food or drink. I enjoying eating all types of cuisine and am always keen to try new restaurants. To be quite honest, anything that I don’t have to cook is enjoyable.
Q. Your proudest moment?
A. Undoubtedly, my proudest moments are the birth of our two boys. We waited a long time for their arrival, so to see them growing up into funny, kind, and independent individuals makes Daniel and I very proud.
Q. What sports do you follow?
A. I enjoy watching AFL, supporting my team, the Adelaide Crows. The rest of the family support Collingwood and are always asking when I am going to swap sides. My response is still the same, “I would rather poke myself in the eye with a hot needle than barrack for Collingwood!”
These days I get the most enjoyment from watching the boys play footy and cricket. They are either going to play cricket for Australia or footy for the Pies…watch this space.
Q. Best part of working at GFM
A. It is delightful to speak to our clients, who I have had the pleasure of getting to know over the past 14 years, about all of their exciting travel adventures, time spent with their grandchildren and how they are now enjoying their retirement. It is satisfying to know that as a result of the advice and guidance provided to them by all at GFM Wealth, that we have played a small part in helping them to enjoy their time after all of their years in the workforce and raising their families.
WANT TO BUILD YOUR SUPERANNUATION AND NEED A TAX DEDUCTION?
By Nicola Beswick
Want to build your superannuation and need a tax deduction? Make sure you maximise your concessional contributions before 30 June 2020.
Concessional contributions are those that are made into superannuation on a pre-tax basis. This includes employer contributions, any salary sacrifice contributions, and any personal contributions deposited into superannuation, for which a tax deduction is claimed.
The concessional contribution limit
The concessional contribution cap is $25,000 per annum for the 2019/20 Financial Year. This includes the 9.5% superannuation guarantee contribution.
Unlike previous years, there are no longer differing concessional contribution amounts for people in different age groups. The $25,000 applies, regardless of your age. If you are between the ages of 65 and 74, you must meet the work test, which is 40 hours of paid work over a consecutive 30 day period.
The game-changer – Personal Concessional Contributions
One of the positive changes that were implemented within the superannuation legislative changes that came into effect from July 2017 is the ability for individuals to make a contribution to superannuation and claim a tax deduction, up to a limit, in their personal tax return.
This was previously permitted for individuals who were selfemployed, or those with assessable income from employment of less than 10% of their total income. However, this restriction has been removed, allowing anyone (regardless of their employment status if under 65) to claim a tax deduction.
Therefore savings, or potentially investments for individuals with an SMSF, can be deposited into superannuation and earmarked as a personal concessional contribution. Carrying forward concessional contributions Another useful strategy to increase your superannuation balance is the ability for individuals, with less than $500,000 in superannuation at the end of a Financial Year, to utilise the unused portions of their concessional caps from previous years (up to five years’ worth) in future Financial Years. Please refer to our October 2019 Trade Secrets newsletter if you would like more information on this strategy. The advantage of concessionally contributing to your super The primary advantage of making concessional contributions into superannuation is the difference in the amount of taxation that is paid. Every dollar that is concessionally contributed to superannuation is taxed at 15% rather than your marginal tax rate. The taxation advantages, at each marginal tax rate, are summarised in the table below:
Therefore savings, or potentially investments for individuals with an SMSF, can be deposited into superannuation and earmarked as a personal concessional contribution.
Carrying forward concessional contributions
Another useful strategy to increase your superannuation balance is the ability for individuals, with less than $500,000 in superannuation at the end of a Financial Year, to utilise the unused portions of their concessional caps from previous years (up to five years’ worth) in future Financial Years.
Please refer to our October 2019 Trade Secrets newsletter if you would like more information on this strategy.
The advantage of concessionally contributing to your super
The primary advantage of making concessional contributions into superannuation is the difference in the amount of taxation that is paid. Every dollar that is concessionally contributed to superannuation is taxed at 15% rather than your marginal tax rate.
The taxation advantages, at each marginal tax rate, are summarised in the table below:
|Taxable Income||Marginal Tax Rate (excluding Medicare Levy)||For $1,000 in Salary, you receive after tax||For $1,000 your super fund receives, and a tax deduction is claimed||Extra Benefits|
* Individuals earning above $250,000 per annum incur an additional 15% tax on concessional contributions.
Examples of this in practice:
Example One – Increasing superannuation contributions via salary sacrifice to increase retirement savings
Mike receives an annual salary of $105,000 and superannuation guarantee contributions of $9,975 p.a. To maximise his superannuation contributions to the $25,000 maximum, Mike can contribute an additional $15,025 p.a. into his superannuation fund.
The additional $15,025 can be deposited into the fund one of three ways, being;
- Salary sacrifice $1,252 per month of income before tax into super;
- Make a personal contribution of $1,252 per month and lodge a Notice of Intent with the superannuation trustee at the end of the financial year, claiming a deduction for $15,025.
- Make a once-off personal deductible contribution of $15,025 just before the end of the financial year and claim a deduction for the $15,025.
The result of making the additional superannuation contribution is a tax saving of $3,019 p.a., but this does come at the price of a reduction of net employment income of $9,751 p.a. This is outlined in the table below:
|Without contribution||With contribution|
|Low Income Tax Offset||$-||$-|
|Low & Middle Income Tax Offset||$1,710.00||$1,080.00|
|Total Person Tax Payable||$26,736.63||$21,463.38|
|Total Super Tax Payable||$-||$2,253.75|
|Total Tax Payable||$26,736.63||$23,717.13|
|Net Employment Income||$78,263.37||$68,511.63|
|Reduction in Net|
* Includes the 15% contribution tax paid on all concessional contributions.
While there is an immediate impact on Mike’s take-home pay, the reason for undertaking this strategy is the resulting superannuation balance in the longer term.
For example, if we assume Mike has a starting superannuation balance of $200,000 and has a superannuation investment portfolio that provides a net return of 4.4%, by contributing only his SGC, in 25 years his superannuation grows to $1,027,816. However, by contributing the maximum $25,000 p.a., his balance grows to $1,653,101 over the same time.
The blue line shows the compounding growth of his superannuation by contributing his SGC only. The red line shows the compounding growth of his superannuation should he contribute the full $25,000 p.a.
Example Two – Using the Personal Concessional Contributions
Joan is single and recently retired from her full-time employment. As part of her retirement plan, she sold an investment property for a $50,000 capital gain. As she had held the property for more than 12 months, half of the capital gain (i.e. $25,000) was considered assessable taxable income. Joan had also worked in that same financial year and received $20,000 of income from employment.
Although Joan was over the age of 65 years, Joan had met the work test through the work she had already done and was, therefore, able to contribute to her superannuation. Therefore, Joan had the option of making a personal deductible contribution into superannuation to reduce the amount of tax she paid on both the employment income and half of the realised capital gain from the investment property.
A comparison of Joan’s taxable income for 2019/20 (making the contribution versus not) is shown in the table below:
|Without contribution||With contribution|
|Net Capital Gain||$25,000.00||$25,000.00|
|Less: Salary Sacrifice||$-||$12,721.00|
|Low Income Tax Offset||$325.00||$445.00|
|Low & Middle Income Tax Offset||$855.00||$255.00|
|Total Person Tax Payable||$5,252.13||$1,335.14|
|Total Super Tax Payable||$1,908.15|
|Total Tax Payable||$5,252.13||$3,243.29|
As indicated above, there is an overall tax saving of $2,008.84 by Joan making a $12,721 personal concessional contribution into superannuation before 30 June 2020.
Other things to be considered
If you are thinking of increasing your concessional contributions before 30 June 2020, several factors need to be considered. These include;
- How much has already been concessionally contributed to super? If you are close to your contribution limit, then there may not be room for you to make additional contributions.
- What your taxable income is. All concessional contributions are taxed at 15%, upon receipt by the superannuation fund. If your income is below $18,200, your marginal tax rate is zero. Therefore paying the 15% tax on concessional contributions into super is unnecessary, and similarly, if your income is between $18,200 and $37,000, where your marginal tax rate is 19% (excluding the Medicare Levy). If your income is above $37,000, then there is a significant tax advantage to making additional concessional contributions into superannuation.
- Accessibility. Remember, there are restrictions around when superannuation funds can be accessed.
- Ensuring appropriate notification is given to the superannuation trustee. The appropriate notice must be provided to the fund’s trustee, where a personal concessional contribution is made and within the required time limits.
- Cash flow impact. While contributing additional funds to superannuation has its long term benefits, there is the balance of ensuring that you can afford to ‘lose’ that income in the short term.
- While the concessional contribution limit is $25,000 p.a., it’s not an ‘all or nothing’ strategy. Even a small amount added to superannuation over many years can have a positive impact on your superannuation balance at retirement. Therefore it may be worthwhile working out if there is a little bit of income that you can forgo now to benefit you in the longer term.
If you believe that you have scope to increase your concessional contributions by additional salary sacrifice, or as a personal concessional contribution using excess funds, the required actions need to be taken ASAP.
If you need assistance in understanding how much has already been contributed, how much more you need to contribute to reach the $25,000 cap, and what method of contributing more into superannuation suits your situation, please contact us.
SPECTACULAR RETURNS OF 2019, NOT LIKELY TO BE REPEATED
By James Malliaros
After the poor returns of the 2018 Calendar Year, 2019 turned out to be an excellent year for investors, defying the gloom of a year ago.
At the start of 2019, the US-China trade war, the uncertainty of Brexit, slowing expectations for global growth, and a multitude of geopolitical uncertainties led to a consensus of a cautious outlook. However, by the end of 2019, the US and China had reached a tentative trade deal, the UK was set to leave the EU, and here in Australia, the Coalition Government defied every poll to secure another term, removing any uncertainty around franking credit and negative gearing policy. In addition to this, domestic interest rates fell from already historic lows.
These events drove investment markets, with both global and domestic equity markets rising more than 20% and remaining resilient through periods of increasing risk aversion and fears of economic weakness. In fact, with a total return (including dividends) of almost 24%, the S&P/ASX 300 posted its fourth-highest total return in the last 20 calendar years.
Source: FactSet, Macquarie Research
As we enter 2020, it may be worth assessing if shares are expensive after stock market indices reached all-time highs by the end of 2019 (convincingly surpassing the 2007 peak before the onset of the Global Financial Crises). As a result, we may be due for a significant market correction.
After a healthy 2019, the S&P/ASX 200 is now trading at an elevated Price to Earnings (P/E) ratio compared to its average over the last 15 years. The price to earnings ratio (PE) is a common but straightforward measure of assessing the value of shares. Currently, it is indicating that in absolute terms, the market is expensive.
However, with interest rates at record lows, the differential between the yield offered by Government bonds and equities is also elevated, indicating attractive relative value. While the average PE ratio gives the appearance that the market is expensive, the market continues to look cheap compared to historically low Government bond yields, on a relative basis.
Source: Auscap Asset Management
In an economic environment where interest rates are expected to remain lower for longer, as well as high dividend yields (currently just above 4%) relative to bond yields, should provide a favourable tailwind for Australian equities and help offset any downside risks. However, we are cautious and expect more moderate returns after a healthy 2019.
As is the case with the ASX 200, the PE of the US S&P500 is now significantly above its long-term average. However, the earnings yield premium offered by equities over bonds is also elevated, indicating the relative attractiveness of shares. Again, while the average PE gives the appearance of the market being expensive, the market continues to look cheap compared to Government bonds.
Source: Auscap Asset Management
Although the outlook for US equities remains positive, we expect it to be more volatile in 2020, given the backdrop of the US presidential election, which will keep political uncertainty elevated throughout the year.
Should investors, therefore, be concerned with a possible market correction given the high share market valuations and the expectation of a more volatile year ahead in 2020?
As can be seen from the graph below, the share market has been going strong since 2009, just after the worst of the Global Financial Crisis.
Source: Auscap Asset Management
However, it is worth noting that since 2009 there have been three significant corrections in both the Australian and United States share markets, two of which have been over 20%.
This might suggest that there have been many economic cycles in the ten years since the 2009 lows, but that they have been significantly less severe than the Global Financial Crisis. In Australia, there was a resources slowdown in 2011-2012, a mining and energy infrastructure slowdown in 2015-2016, and the property market slowdown in 2018-2019. Market corrections accompanied all, but given that these economic slowdowns were considered minor, they have had minimal impact on the improvement in the share market since 2009.
Although it is impossible to predict, issues that could have an impact on the global economy over the year ahead include failure of the US and China to agree on a more comprehensive trade deal, an escalation of the Hong Kong unrest, actions by Iran that threaten global oil supply and a dramatic spread of the coronavirus. However, all of these issues are only expected to have a modest longer-term effect on the global economy and, as such, a minor impact on the share market, unlike the severe consequences of the Global Financial Crisis just over 10 years ago.
10 Year team dinner
By Mai Davies
On Friday the 7th of February, we celebrated at Bottega to acknowledge those team members that have been with the company for more than ten years.
It is quite amazing to think that with 28 staff members, fifteen have now been with the company for more than ten years. We are looking forward to other staff members joining the ten-year club in the next few years.
This is our 10th celebration and is an annual event. The team members are:
- Kushal Sharma – 11 years
- Jacqui Umali – 12 years
- Andrew Goldman – 12 years
- Miryam – 13 years
- Denise Slattery – 14 years
- Annie An – 14 years
- Bryan Meehan – 15 years
- James Malliaros – 18 years
- Patrick Malcolm – 19 years
- Lorraine Miller – 19 years
- Paul Nicol – 21 years
- Maree Meehan – 23 years
- Witi Suma – 23 years
- Mai Davies – 30 years
- Phil Gruchy – 42 years
GFM TEAMS TAKE PART IN THE OXFAM TRAILWALKER IN MARCH 2020
By Mai Davies
On the 27th March 2020, two teams of four from GFM will be walking 100 km to raise money for Oxfam Australia to support people living in poverty around the world. The event is the Oxfam Trailwalker. The walk begins at the Dandenong Police Paddocks Reserve in Endeavour Hills, winding its way through the densely forested Dandenong Ranges and along the picturesque Mullum and Yarra Trails, finishing at Heidelberg Park. We are hoping to finish the 100 km in less than 30 hours with little or no sleep. It is a challenge, and we are all very excited!
The staff participating in the walk are:
|GFM Team 1||GFM Team 2|
This will be the second time GFM is participating in the Oxfam Trailwalker. Three of the walkers from 2018 will walk again, with four staff walking for the first time and one walking for the third time!
GFM and the eight walkers participating in this challenge are passionate about making a significant difference to the lives of people living in poverty around the world and are aiming to raise a combined target of $15,000 by the 27th March.
The funds raised will enable Oxfam to continue its vital, longterm development work, promoting education, ensuring access to clean water, teaching skills to grow food, and fighting for the fundamental rights of the people they help. Running taps, working toilets, clean, safe drinking water, and soap are things that we take for granted. However, the reality is that almost 900 million people around the world do not have access to these necessities. The funds raised will go a long way to provide what we consider essentials, which will aid in preventing disease and saving lives.
The eight walkers committed to the challenge in December last year. All of us at GFM are all deeply saddened by the recent bushfires. We know that many people and communities have been impacted by the events. Some of you may be directly affected by the fires or may know of people that have been impacted.
At GFM, we have taken some time to assess what role we can play to assist in these efforts. While we have already committed to support an important cause in Oxfam, we also want to support the communities affected by the bushfires.
As such, GFM will also donate $1,000 per walker on successful completion of the walk. This is a total of $8,000 to be split evenly between three charities, being the Victorian Bushfire Appeal, the Country Fire Authority and the Gippsland Emergency Relief Fund.
To donate, we have provided links for both teams.
All donations are fully tax-deductible, and naturally, we are extremely grateful for any support you are able to provide to assist Oxfam. Thank you!
NICOLA JOINS THE BOARD OF THE PRO BONO FINANCIAL ADVICE NETWORK
By Paul Nicol
We are immensely proud to announce that one of our Senior Financial Advisers, Nicola Beswick, has been invited to join the board of Pro Bono Financial Advice Network (PFAN). PFAN is an industry-wide collaboration that connects financial advisers with individuals in times of financial hardship, specifically a personal health crisis.
By way of background, Nicola’s journey of becoming a financial planner started with her father’s diagnosis of Multiple Sclerosis (MS) at the age of 55. Many of you will already be aware of Nicola’s passion for assisting people with MS through her fundraising events, including the five-day walk across The Great Wall of China in late 2018 (Nicola wrote about her journey across the Great Wall in our December 2018 edition of Trade Secrets). More recently, she has taken up the challenge of cycling 50 kilometres through the streets of Melbourne, including across the West Gate Bridge to raise funds for MS Limited.
Nicola’s commitment in supporting MS Limited then took a professional approach by becoming involved with the Pro Bono Financial Advice Network (PFAN), a group of financial planners who are committed with assisting individuals, their families and carers to provide pro bono financial advice in their time of need.
The mission of PFAN is to “To connect financial advisers willing to provide pro bono advice to Australians in times of financial hardship, specifically personal health crisis, with the support of specific charitable/support organisations. The aim is to improve their understanding, peace of mind, and financial security.”
Combining Nicola’s passion for providing financial advice, and assisting those (and their families) who have been diagnosed with the MS, Nicola not only became an advisor listed on PFAN’s group of advisers but also collaborated with PFAN’s Board to prepare and present a series of webinars, targeted to individuals with MS, about the benefit of obtaining financial advice.
After a lot of success providing advice to clients directed to her through PFAN and a webinar under her belt with plans for more, the Board recognised her love of assisting others and her passion, and in November 2019, she was formally elected to become a Board Member of PFAN.
Needless to say, we are absolutely thrilled that through her passion for assisting those in need, Nicola has been invited to join the board of Pro Bono Financial Advice Network, and that GFM can support those in need via Nicola’s commitment to this area.
GFM’S TOP 10 INVESTMENTS FOR 2020 EXPLAINED – 7:15 PM – MONDAY 2ND MARCH AT RIVERSDALE GOLF CLUB
By Patrick Malcolm
We will be holding our first seminar for the year on the topic “GFM’s Top 10 Investments for 2020 Explained”. This will be an excellent seminar for anyone interested in understanding how GFM goes about selecting investments for portfolios. Many have asked us to consider running a seminar where we provide an in-depth insight into our research process and investment selection to understand better the investments we recommend. During the presentation, we will provide a deep dive into our preferred investments for 2020.
The topics that we will cover include:
- With so many available investments, how do we filter down which companies or investments to research?
- The GFM research process
- What available tools do we have to give us the edge when selecting investments?
- Why a reliable and growing yield is essential to investment returns
- Our top 10 preferred investments for 2020 and why
Invitations were sent to clients in February. If you would like to attend and have not yet reserved your place, please call Mai on 9809 1221 or email email@example.com
CHRISTMAS CARDS AND CHARITABLE DONATIONS
By Mai Davies
For 21 years, instead of sending Christmas Cards, we have donated a comparable amount to charities.
This year we had four nominated charities and have donated to each of them.
The 2019 money has been donated to the following charities as nominated by our clients:
- Australian Wildlife Conservancy
- Wheelchairs for Kids
- The Little St Kilda Mission
GFM IS NOW ON LINKEDIN
GFM have recently established a company LinkedIn page, and we are posting interesting and informative content regularly. Many of our team are also on LinkedIn, and we invite you to follow GFM and connect with the team. Below is the link to our company page below. Follow us for regular updates.
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