An update for Q4 2020 from our CEO, Terry Dillon.
Welcome to the last edition of The Edge for the year.
I think we can agree it’s been a year like no other, and one I’m sure many of us are keen to put behind us. In January we had the bushfires that burnt for weeks, devastating communities and wildlife populations and blanketing the east coast of Australia in smoke.
The remainder of 2020 has been heavily defined by the COVID-19 pandemic, which has led to global, social and economic disruption, worldwide lockdowns, and the largest economic recession in Australia since the Great Depression.
Whilst this year has presented its fair share of turmoil, our clients have navigated this period well, working with their advisers to make sensible decisions. Unfortunately, this was not the case for many investors who chose to sell out of their investments, crystallising their loses and missing the opportunity to recover them when the market recovers, which historically it does after challenging times.
Against this backdrop and the challenges of remote working we’ve also been able to accomplish a lot as a firm this year including achieving fiduciary certification and the launch of a modern portfolio management tool called MPS – a service which ensures your portfolio remains within the acceptable tolerance range for your asset allocation.
I hope you enjoy this edition of the Edge. In it we highlight some of the tax changes and exemptions introduced as part of the October Budget, along with the planned changes to granny flat ownership and CGT exemptions and how this might unlock more options for in-home care. We also look at the possibility of a zero or negative interest rate environment, along with ways of giving back and having a more sustainable Christmas.
As always if you have any feedback or thoughts you would like to share with me, please do so via email at firstname.lastname@example.org.
Thank you for your trust and ongoing support throughout 2020, and from all of us at Shadforth I’d like to wish you and your family a safe and enjoyable festive season.