An update for Q2, 2025 from our CEO, Terry Dillon

As we move into the second half of the year, tensions in the Middle East and ongoing trade uncertainties continue to dominate the news headlines.

Despite a challenging year in the markets with the re-election of Donald Trump and continued geopolitical uncertainty, our clients enjoyed a strong finish to FY25, with most clients achieving low double-digit growth.

Over the past 12 months, we’ve also been delighted to welcome close to 700 new family groups to the Shadforth business. Many of these clients were referred by you, reflecting the value you place in our firm and your advice team.

Closer to home, Parliament has resumed, and we await clarification on the proposed DIV296 legislation. This proposed change to the concessional tax treatment of unrealised capital gains has been very contentious—not only for those affected now, but (given the lack of indexation) for the impact it poses to the superannuation savings of future generations. We are closely monitoring developments and will keep you informed as the situation evolves.

In this edition, we look at the key changes to superannuation that came into effect on 1 July 2025, along with an overview of how super beneficiaries work and some key considerations. We also explore the changing role of the modern grandparent and provide a market update across asset classes for Q2.

As always, if you have any questions or comments regarding your investments or your relationship with Shadforth, I would love to hear from you at ceo@sfg.com.au.