An update for Q2 2020 from our CEO, Terry Dillon. Watch his video message.
The last few months have reaffirmed to me that Australia is still very much the lucky country, and I would not have wanted to reside anywhere else in the world during the recent pandemic. Although still far from over, our experience of Coronavirus has been remarkable when compared to other countries, and our Government’s swift economic response has helped cushion the shock for the many impacted by the loss of, or reduced income.
A key focus for me during this time has been communication and keeping you, our clients, informed of any developments that may impact your investments. I hope these updates have provide reassurance and peace-of-mind during these challenging times.
It’s still too early to predict what the long-term economic cost of the pandemic will be and how long recovery will take. Expectations are that the unemployment rate will rise to over 10%, and analysts predict that housing prices could fall as much as 30%. One thing this period has highlighted is that the need for quality financial advice has never been greater.
As an industry, we recognise the role we play in helping Australians feel financially secure and, together with others in our adviser network, have launched a community offer to provide people who are doing it tough with access to financial guidance, education and support free of charge. You can read more about this offer here.
Recent market volatility has also reinforced the importance of portfolio rebalancing to ensure your asset allocation is maintained. Our article on rebalancing explains how regular re-weighting can help control risk and provide better return characteristics than portfolios that are not rebalanced.
Our advisers and their teams have been managing the busy year-end period whilst working remotely, and many are looking forward to returning to the office environment over the coming months. I imagine many of the technologies adopted during the lockdown period will become a regular part of our service offering in the ‘new world’. The article on innovations in a time of crisis explains many of the digital tools and enhancements we’ll be making available.
In the coming weeks we look forward to issuing our annual client survey. This short questionnaire provides valuable insights into your experience with Shadforth, and I would appreciate you spending a few minutes to complete it.
As always, if you have any comments regarding our services please contact your financial adviser or me at firstname.lastname@example.org.