Welcome to Gurney Financial Services 5th Birthday and Celebrations. I would like to thank you all for coming along tonight.
I have been in the finance & financial planning industry since 1995, working 8.5yrs for MLC, and then I went to work for a financial planner before starting my own business. When he downsized, I then worked for various other financial planning businesses on the Central Coast and Newcastle whilst I built my business
5 years ago when I started my business, I thought what I could do to help others in my community. Gurney Financial Services prides itself on assisting families with budgeting, debt management, superannuation consolidation and management and the implementation of insurances to protect the family, income and lifestyle.
We started in 2005 and in our first year we had 6 clients, we now have around 85 clients and managing about $2 million in super for those clients. We are also working with approximately 50 prospective clients assisting them in budgeting and sorting out their financial affairs.
We have set up the GFS website and a blog for out clients and potential clients to visit for any further information. There is a lot of free information on there for you to download, so feel free to have a look.
At GFS our clients get the same quality and professional service whether you have a $1 or $200,000, and we pride ourselves on being able to do this. No one gets lesser service, everyone is equal, and no one is discriminated.
In 2008, we brought in our Annual Service Agreement, where each client is offered an annual face to face review to revisit their financial situation and goals. If you have not taken up the opportunity to have an annual review, please feel free to contact our office to organise an appointment at a suitable time, or see me tonight.
Tonight, we have 3 presentations and I would like to personally thank them each and individually for coming along to talk to you all.
The first presentation is from Lyndall James from ING, she will be presenting on “An Economic Update”.
Our Second presentation is from Michael Bonnet from MLC, he will be presenting on “Protecting your Family”.
And our last presentation is from Brett O’Malley from Macquarie Private Wealth and he will be presenting on “Share Investing”.
We also have two of team here tonight – Natalie and Nicole, and I would like to personally thank them for their support to GFS.
Dean Brown is also here from Woodview Homeloans and Finance. Dean is the preferred mortgage broker for our clients. We now have a referral system in place where both Dean’s and my clients receive a complimentary appointment.
Again, I would like to thank you all for coming along tonight. Please help yourself to drinks and food.
Lyndall James - ING Presentation
Economic & Asset Update – August 2010
Global Overview:
• We saw global economic uncertainty continue in July, with:
• Disappointing data out of the US.
• Further signs of a Chinese economic slowdown.
• Lingering concerns over government debt levels and the need for major developed countries to significantly wind back budget deficit and debt positions.
• Forecasts cut for global growth, mainly driven by a somewhat more lacklustre US economy.
• On the upside we were surprised by some economic data out of Europe.
• We saw a positive start to the new financial year, with share markets gaining ground as confidence returned, albeit cautiously.
USA:
• Recent data has shown the economy to be weaker than the consensus was previously expecting. In particular - housing, employment and inflation numbers.
• Housing recovery appears to be easing early – sales are at their weakest since March but are still running faster than one year ago, up nearly 10%.
• Employment levels across the country have declined sharply since May – much of this weakness appears to relate to the discharge of temporary census workers.
• The Conference Board Index of leading economic indicators fell by 0.2% in June – suggesting the pace of the US economic recovery will slow in the coming months.
• Await release on Friday of the second estimate of June Qtr GDP growth
Australia:
• In Australia the key piece of economic data released was Quarter 2 CPI.
• Inflation rose by just 0.6% in the June quarter, well short of consensus (+1.0%) this is in line with RBA’s target rate
• RBA has left interest rates unchanged for 3 consecutive months (4.5% May)
• Tighter interest rates have dampened consumer spending over recent months - Retail sales advanced just 0.2% month-on -month following a similar gain in May.
• Building approvals fell 3.3% in June. Annual growth has now decelerated sharply to 13.2% down from more than 50% earlier this year.
• Money tightening, end of first home buyer subsidy
• Unemployment rate lower
• Hung parliament – Coalition – 3 independents are conservative, mining tax, business sector
Europe:
• Eurozone economy has weakened – GDP expanded only 0.2% in Quarter 1, 2010.
• Economic data out of Germany has surprised - exports have risen 29.2% over the past 12 months, unemployment has fallen for 13 consecutive months and industrial production has risen 12.4% on an annual basis.
• A weaker Euro continues support the region.
• Results from the stress tests conducted by the European Central Bank (ECB) on the region’s banks to measure the banks ability to withstand any further significant economic or market shock helped calm markets over July - only seven of the 91 EU banks failed the stress test, with one German, one Greek and five Spanish banks.
• Unemployment rate now at 10% - highest since late 1990s.
• Inflation has eased rapidly – economic growth stagnant.
• Banking system is weak – high debt and rising defaults.
• P.I.I.G.S. (Portugal, Italy, Ireland, Greece, Spain)
• US $1.3 trillion of debt
• Highly risky if contagion occurs
• Will drag on European economy for many years.
China:
• China’s manufacturing grew at the slowest pace in 17 months in July.
• The government clamped down on property speculation and investment in energy -intensive and polluting factories.
• The Purchasing Managers’ Index fell to 51.2 from 52.1 in June, the Federation of Logistics and Purchasing reported.
• A slowdown in industrial production led to the overall Gross Domestic Product (GDP) measure of growth easing to 10.3% for the June quarter.
• The rate of inflation also moved lower, with the Consumer Price Index (CPI) rising by 2.9% over the year to June, down from 3.1% in May.
Interest Rates:
• Interest rate movements in the major global economies were unchanged in July.
• The Reserve Bank of Australia left the official cash rate on hold at 4.5% in early August for the third consecutive month and issued a very neutral statement signalling rates could be on hold over coming months.
Important information:
The information contained in this presentation is current as at August 2010 but may be subject to change. It is for the use of advisers only and may only be reproduced with the prior written consent of the issuer. It is intended to be general advice only and has been prepared without taking into account a potential investor's objectives, financial situation and needs. The presentation has been produced by ING Australia Limited (ABN 60 000 000 779) and does not represent a recommendation or opinion by the ING Group to purchase, hold or vary any financial product. Performance figures in this presentation may have been calculated before fees and taxes. ING Australia Limited does not guarantee the repayment of capital or investment performance and potential investors must always read the current Product Disclosure Statement (PDS) for the relevant financial product and must consult with a financial adviser before making any investment decision. Past performance is not indicative of future performance. From May 2002 until late November 2009, ING Australia operated as a joint venture between the global ING Group (ING) and Australia and New Zealand Banking Group Limited (‘ANZ’). ING Australia is now wholly owned by ANZ but has a licence from ING to continue using the ING brand while it transitions to a new brand – expected to be by late 2010.
Michael Bonnet – MLC Insurance
Streetwise Insurance Solutions
- MLC provides Insurance for families and individuals.
- You can have insurances within and outside super.
- Life Cover
+ Guaranteed Insurability
+ Accident Benefit
- Total & Permanent Disability
+ Optional Total and Permanent Disablement protects you when your income dies, but you don’t
+ Buy back options
-Trauma
+Protection against a critical illness – such as stroke, heart attack, liver replacement, cancer. See PDS for conditions covered.
- Income Protection
+Covers up to 75% of your income/salary
+ Sickness, accident or injury
- What is Wealth Creation?
>Family business
>Commodities
>Bonds
>Shares
>Property
>Investment policies
>Low risk investments
- What is Wealth Protection?
>Health Cover
>Salary Protection
>Car Insurance
>House & Contents Insurance
>Business Protection
>Savings Accounts
>Family Protection
>Emergency funds
>Long term savings – Superannuation
- Home Fires –
+ For every home lost to fire
+ There is 3 homes lost through death
+ And 48 homes lost through disablement
Would you like your children to go out to work for you to pay the bills, the mortgage? Or would you rather have them study and get the best out of life.
- Salary Protection – also known as Income Protection or Salary Continuance
+ Many people insure these assets, yet, all too often they don’t adequately protect what is potentially their greatest asset – their ability to earn an income.
+ Take a moment to consider what could happen to your lifestyle if you were unable to work for an extended period due to illness or injury.
+ Your expenses could quickly run down your savings. You may even need to sell your investments to make ends meet.
+ By taking out income protection insurance you can protect your greatest asset and avoid putting your family’s lifestyle at risk.
+ If you suffer an illness or injury and are unable to work, income protection insurance can pay you a monthly benefit (usually 75% of your pre-tax income) to replace lost earnings. You can generally claim these premiums as a tax deduction.
+ You can choose a range of benefit payment periods, with maximum cover usually up to age 65.
+ You can also choose a range of waiting periods normally between 14 days and 2 years.
+ You can also have insurance linked through your superannuation to save you extra premiums
If you didn’t have an income how would you pay your bills (mortgage, schooling, rates, electricity, food)
>Sick leave with work
>Holiday pay at work
>Workers compensation – waiting times for payouts and sometimes part payments
>Centrelink benefits – sickness benefits – if approved.
>Selling personal items – jewelry, furniture, garage sales.
· One in three Australians are at risk of becoming disabled for more than 3 months before turning 65. 1
· Australian insurers paid $697,677,939 in Income Protection claims in 2008.2
· In the 12 months up to 31 March 2008, MLC paid more than $49.4 million to Income Protection policy holders alone!
- Best Doctors
+ Founded in 1989 by Harvard Medical School Professors
+ 20 Years Operational Experience
+ 160 employees in 10 countries
+ Global database of over 50,000 doctors
+ 300 corporate clients covering more than 15 million customers in 30 countries
+ Over 50,000, peer nominated, leading specialists world-wide
+ Top 3-5% of doctors in any country
+ 40 specialities, covering over 400 subspecialties
+ Doctors are re-polled every two years and ongoing quality assessment
+ This is the only service like this in Australia!
Available to you and your family IF you have a current MLC Trauma/Critical Illness policy
For more information please contact your financial planner or have a look at the MLC website - http://www.mlc.com.au/
Important Disclaimer
This presentation is intended to provide general information only and has been prepared by MLC Limited ABN 90 000 000 402 AFSL 230694, MLC Investments Limited ABN 30 002 641 661 AFSL 230705 and MLC Nominees Pty Limited ABN 93 002 814 959 AFSL 230702 and National Australia Bank ABN 93 002 814 959 AFSL 230686 without taking into account any particular persons objectives, financial situation or needs. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain financial advice specific to their situation before making any financial investment or insurance decision. MLC Limited, MLC Investments Limited, MLC Nominees Pty Limited, 105-153 Miller Street, North Sydney NSW 2060, is a member of the National group of companies. MLC Limited is the issuer of the MLC MasterKey Annuity,MLC Personal Protection Portfolio and MLC MasterKey Protection Essentials.MLC Investment Limited is the issuer of each the MLC MasterKey Unit Trust and MLC MasterKey Cash Management Trust. MLC Nominees is the issuer of each MLC MasterKey Superannuation, MLC MasterKey Business Super, MLC MasterKey Allocated Pension, MLC MasterKey Term Allocated Pension, MLC Life Cover Super MLC MasterKey Protection Essentials Super. National margin Lending is a facility provided by the National Australia Bank. Information about in each of these products is contained in the current relevant Product Disclosure Statement (‘PDS’) or other disclosure document for each product, copies of which are available upon request by phoning the MasterKey Service Centre on 1800 029 799 or on our website at mlc.com.au. None of the MasterKey products or services represents a deposit or liability of the National Australia Bank and are subject to investment risk, including possible delays in repayment and loss of income and capital invested. National Australia Bank does not guarantee the capital value or performance of any MasterKey product or service.
Brett O’Malley - Macquarie Private Investing
Investing in Shares
+ Macquarie Private Wealth assists clients with information and assistance in purchasing and managing a portfolio of shares.
+ MPW – provide financial advice to clients who are looking to purchase shares.
+ Provide daily updates and outlooks on markets, performance, shares to buy, sell and trade.
+ They have a qualified research team behind them to provide quality advice.
+ Brett is a Private Client Adviser and is ASX Accredited Derivatives Adviser (Level Two)
+ MPW are about Finding appropriate solutions to help clients create and manage wealth is how Macquarie's advisers have built their reputation.
+ Through Brett you can access the resources of the Macquarie Group.
+ Brett can be your central point of contact for investment opportunities to help grow your portfolio.
+ A world of opportunities, whether you're looking for personal advice on listed securities assistance with asset allocation, portfolio construction and investment selection, overall investment planning or trade execution, Brett can help you achieve your goals.
+ Access to market leading research, Brett excels in providing his clients with insightful and up-to-date information working very closely with Macquarie's highly skilled research team to guide recommendations on potential investments. Brett also has direct access to strategic wealth managers to help select appropriate investment structures for your personal or superannuation investments.
+ Experience Brett has more than12 years of experience as an investment adviser. His knowledge spans a diverse array of portfolios including, income and growth focused strategies for investments within personal, superannuation and pension funds. He can also help you identify and implement investment strategies including where appropriate:
Providing you with access to IPOs and Macquarie sponsored stock placements; Gearing to potentially increase returns; Alternative asset classes to diversify your portfolio; Capital protected investments to protect your wealth; and warrants and Exchange Traded Options to achieve income and potentially minimize the impact of market volatility on your holdings.
+ Brett can help with administration, coordination and management of your portfolios to help you be in a position to take advantage of movements in the financial markets.
Contact Brett on:
Tel (02) 9425 6028
Mobile 0414721 900
Email Brett.OMalley@macquarie.com
The information contained in this email is confidential. If you are not the intended recipient, you may not disclose or use the information in this email in any way and should destroy any copies. Macquarie does not guarantee the integrity of any emails or attached files. The views or opinions expressed are the author's own and may not reflect the views or opinions of Macquarie.
Disclaimer
Gurney Financial Services (ABN 85 296 598 954) is an Authorized Representative of Sentry Financial Planning AFSL (247 105) ABN74 099 029 526. Gurney Financial Services Financial Planning Licence 292206. We have not taken into account any particular persons objectives, financial situation or needs. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation and needs. We recommend investors obtain financial advice specific to their situation before making any financial investment or insurance decision.
This information contains confidential and privileged information intended only for the use of the above named recipient. Any other recipient is requested to notify us immediately by telephone so that arrangements can be made for the return of the transmission to us. That privilege will not be waived, lost or destroyed by reason of a mistaken transmission.
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