Chris Smith

On Wednesday we had the pleasure of attending another Make a Meal night at Ronald McDonald House Charities (RMHC) Herston. It was a full house and there was a fantastic turnout for our Italian themed menu! Our team absolutely loves getting involved and I highly recommend making this a part of your corporate community relations. It is very rewarding.

Thanks to our fantastic catering supervisor Chari for helping us organise such a great evening and to all the volunteers from our team for stepping up.

An outlook from business investment company Schroders has revealed the forces shaping private markets. Three themes have been identified that investors can focus on to optimise long-term return potential.

The CIO of Schroders, Dr Nils Rode, has urged investors to assess the medium-to-long-term outlook before decision-making.

#2023

How private asset investors can maximise resilience in 2023 With a recession looming, private asset investors face a myriad of challenges heading into the new year. This year's outlook from Schroders has revealed the forces shaping private markets are larg

Financial analysts Jody Jonsson, Casey McLean, Ellie Fordham and Chris Haynes, Kellie Wood, Kanish Chugh share their thoughts on what this new year will bring for investors with Financial Review.

My take on their predictions:

Ongoing volatility in Australian markets ✅
No new normal yet ✅
Recession on the way 🚫
Investment opportunities ✅
Tech stock winners 🚫

Six experts share what 2023 has in store for investors Nearly all agree that a recession is inevitable. Here’s what else they are forecasting.

Market volatility has had a significant impact on investor confidence throughout 2022.

Anthony Wamsteker, the boss of Praemium, a wealth management platform, says sustained volatility in investment markets from growing inflation and interest rates has impacted investor confidence.

High-net-worth individuals have pulled back their investments in risky assets and increased their allocations in stable forms such as cash and bonds.

Praemium’s Anthony Wamsteker warns high wealthy investors are spooked by market volatility High net worth individuals are pulling back from riskier assets and increasing allocations to cash and bonds, according to wealth management platform Praemium.

Australian property has been a hot topic lately, with continual rate hikes causing buyers and investors to put the brakes on their aspirations.

Chief economist at AMP Dr Shane Oliver has forecast prices to take a tumble at the back end of 2023 due to continuous impact of rate hikes.

Similar views from Bank of Queensland - BOQ chief economist Peter Munckton, who believes the real impact of rate hikes is yet to be seen on the nation’s housing market.

Why some are predicting a 'September dip' in Australia's property prices Australia's property prices in 2023: Why some are predicting a 'September dip'By Stuart Marsh • Morning Editor8:59am Jan 5, 2023 Tweet Facebook Mail After a stratospheric boom in prices, Australia's property market rapidly applied the brakes in 2022.Eight straight rate hikes, a cost of living c...

Firms with the financial services sector are said to be likely to take a more strategic and longer-term view in terms of managing their businesses says Grant Peters, EY Oceania Financial Services Managing Partner.

After nearly three years of the global pandemic, unstable geopolitical and global economic conditions the sector has stayed strong, but will this year be the sectors most difficult to navigate?

At VISIS Private Wealth we encourage clients to look long-term at their wealth creation opportunities, weather cyclical storms and stay optimistic through troubled times, ensuring a long game is in play.

Some things need to change in financial services A competitive market will bring focus on new and innovative ways of connecting with existing and new customers with new products and services.

New year, new goals.

Now is an ideal opportunity to reset your financial and wealth creation objectives, supported by a sound strategy and professional advice to achieve your goals.

Get in touch with my team today to discuss creating a tailored plan that meets your needs.

Poor returns on-average for investors in companies preaching an ESG agenda have many companies looking at making changes to the ESG case.

Work is cut out for the investment sector to upsell the virtues of ESG in an increasingly volatile area poisoned by culture wars in the US and real war in Russia and Ukraine.

As James Kirkup reports, ESG could quickly head towards “fuzzy” territory as finds and ESG practitioners scramble to stamp out accusations of “woke capitalism.”

More behind The Australian paywall.

Investment sector must make the case for ESG after it saw poor returns on average in 2022 Last year was one of challenges for businesses and investors committed to the so-called ESG agenda that assesses companies and investments based on environmental, social and governance factors. This year could be worse, unless the investment industry rises to those challenges.

After consecutive months of rate hikes in the past year Australian borrowers continue to ask the question. Where will rates go next?

The Head of Australian Economics at Commonwealth Bank Gareth Aird expects there to be only one more rate hike for the year, but can borrowers see the light at the end of the tunnel, or not?

The year of the rate hike: Where will interest rates go in 2023? The year of the rate hike: Where will interest rates go in 2023?By Stuart Marsh • Morning Editor8:10am Jan 3, 2023 Tweet Facebook Mail For eight consecutive months, Aussie borrowers have held their breath and braced for another impact to household budgets already stretched to the limit by soaring ...

The economy is slowing to a crawl, according to the latest NAB data giving a sobering outlook. The data notes that GDP growth is expected to slow to below 1% over the next two years. Meanwhile, interest rates are expected to keep rising, with the cash rate anticipated to peak at 3.6% in March 2023 until inflation subsides. ABC News

The economy is slowing to a crawl as shoppers tighten the purse strings ABS and CommSec data shows there are already signs of a slowdown as average household spending goes up 15 per cent in the past five years.

With rising interest rates, Australians have been preparing for “more pain” in our economy. But the pace of the hikes has slowed, and with no RBA meeting in January, we have some time to reflect on what's happening as we enter the new year. ABC News

As 2023 looms, the global economy is undergoing a momentous shift. Here are five things shaping our future At the beginning of the year most were convinced inflation was a short-term reaction to the pandemic. Now it's proving to be far more persistent, writes business editor Ian Verrender.

Investing in bonds – government or company debt – is considered a defensive investment asset, particularly in an unstable economic climate. However, many investors are unsure about bonds. This could be because bonds tend to produce lower yields than shares (particularly in low-interest rate environments) or because many investors simply don’t know enough about this asset class.

Why bonds should be in your investment portfolio - CHRIS SMITH - VISIS - Private Wealth Management Investing in government or corporate debt is considered a defensive asset in an unstable economic climate, yet many investors are unsure about bonds.

Investment firm Deutsche Bank forecasts Australia will enter a recession in 2023, following an expected rise in unemployment. The bank expects Australia's unemployment rate to end 2023 at 4.5% which is one percentage point higher than the current unemployment rate of 3.5% and significantly higher than the RBA's unemployment rate forecast for the end of 2023 of 3.7%.

ABC News

Australia to enter recession next year, major investment bank says Deutsche Bank expects Australia's unemployment rate to spike to 4.5 per cent by the end of 2023, leading to a recession under the investment bank's definition.

With more than half of marriages and de facto relationships ending these days, parents are reconsidering how they structure their wills with testamentary trusts to protect their assets and avoid their legacy ending up in the wrong hands.

Why inheritance asset protection is necessary - CHRIS SMITH - VISIS - Private Wealth Management Parents are reconsidering how they structure their wills with testamentary trusts to protect their assets and legacy.

Across the board in the Australian economy, interest rates have continued to rise and some company quarterly earnings have plateaued or fallen. So why the late-year ASX rally – and what should investors do for long-term investment performance?

End-of-year market wrap and outlook - CHRIS SMITH - VISIS - Private Wealth Management Interest rates have continued to rise and some company quarterly earnings have plateaued or fallen, so why the end-of-year ASX rally?

The Hands for Humanity Foundation was established by Wendy and I to provide better living, education, quality of life and health outcomes for the underprivileged and disadvantaged in Australia and beyond.

This month we are running a Christmas appeal aiming to raise $50,000, with $10,000 already donated to fantastic charities Ronald McDonald House Charities South East Queensland and Vinnies QLD.

If you’re in a position to dig deep and help us support more than a dozen charities doing great work, email [email protected] or PM me.

More info here: https://bit.ly/3ilzRNU

chris.smith.visis.com.au

We’ve been connecting with peers in the financial services industry at the 2022 Financial Planning Association Professionals Congress in Sydney this week and celebrating the winners of the esteemed FPA awards.

VISIS Private Wealth was a top 3 finalist in the country for the Professional Practice of the Year Award for the second time, alongside Alman Partners True Wealth and Boutique Advisers Private Wealth. Congratulations to Alman Partners on the win and the other firms recognised as exceptional leaders in our field.

We’re proud to be recognised among those financial advisers delivering the highest standard of professional and trusted financial advice across Australia.

In times of increasing external financial pressures, with and rising globally and uncertainty being the default position of many, having financial confidence is more important than ever.

Inheritance and wills can be complicated at the best of times. As Financial Review reports, the trend towards testamentary trusts in place of ‘straight gift’ wills provides asset protection and tax strategies to parents – and they are being used at a rate well above the national first marriage breakdown rate of 50%.

I’m often asked to advise clients on how they can structure trusts to better protect assets or money from unintentionally falling into the wrong hands should relationship breakdowns arise. The cost of setting up and managing is balanced out by the protection and peace of mind they afford to those using them.

Read more from Duncan Hughes here:

Why this inheritance trick is not just for the rich Want to provide income to your grandkids or worried your child’s partner will walk off with part of your estate? This is what to do.

The Reserve Bank of Australia has once again lifted interest rates by 0.25%, taking the cash rate from 2.6% to 2.85% - up from the record low of 0.1% at the start of May this year and the highest it’s been since May 2013. The market responded positively to the relatively subdued rate rise as a 50 base point was priced in at a 20% chance.

RBA governor Philip Lowe said further interest rate rises are likely, with the central bank doing what it needs to do to return inflation to target. The RBA now expects headline inflation to reach around 8% by the end of this year, before gradually falling back to still be a little above 3% in 2024.

ABC News

https://www.abc.net.au/news/2022-11-01/rba-interest-rates-25-basis-point-hike-melbourne-cup-day/101602250

The VISIS Private Wealth team took to the kitchen at Ronald McDonald House - Herston last night, volunteering for the charity’s Make a Meal program to cook and serve meals to families staying at the there. Thanks to our catering supervisor Chari for leading the way as well!

Ronald McDonald House Charities (RMHC) provides free accommodation and a safe haven to thousands of families of children undergoing medical treatment Across Australia each year. More than 1000 families stay at Herston each year.

We are proud to support this program and encourage others to do the same!

I’m honoured to announce that VISIS Private Wealth has been nominated as a finalist in the 2022 Financial Planning Association (FPA) Awards in the Professional Practice of the Year category. For VISIS, this is the second time being nominated in this category and as one of three firms earning this distinguished honour, we’re excited to see who will take out the winning award when announced in November.

I’d like to extend a big congratulations to the other firms who have been recognised as exceptional leaders in our field and who deliver the highest standard of professional and trusted financial advice across Australia.

In times of increasing external financial pressures, with inflation and interest rates rising globally and uncertainty being the default position of many, having financial confidence is more important than ever. We are proud to be recognised among the best for caring for our clients and delivering great outcomes. I’ve been focused on sharing how important it is to have access to good and increasing as a contributor in the media, including my regular segment on ausbiz.

We look forward to being in Sydney for the grand finale when the winners are announced.

The public will be watching for fiscal responsibility as the Labor Government hands down its first Federal Budget in almost a decade next Tuesday, with cost-of-living relief and tax breaks front and centre of the conversation.

While those on the left will be in full support of easing costs for Australians, almost 7 in 10 The Financial Review readers believe Treasurer Jim Chalmers should provide no such relief. Simply put, monetary policy is trying to reduce consumption, and handouts will offset this by further impacting inflation. We want to make sure that any cost-of-living relief doesn’t make the job of the Reserve Bank of Australia harder.

One policy that would put more money into Australian taxpayers’ pockets is the legislated third stage of income tax cuts. The Australia Institute analysis shows high-income earners making more than $200,000 would receive a tax break of more than $9000 per year under the stage three tax cuts. There are no plans to ditch the former government’s scheme, which will scrap the 37% marginal tax bracket and lower the 32.5% marginal tax rate to 30%.

The danger of taxing corporates and high-income earners more than necessary won’t do anything to improve the economic situation and will simply add fuel to the fire, likely to tip the current state of equilibrium in the economy that is not as bad as it could be and make things worse under a Labor government.

According to Treasurer Jim Chalmers MP the job of this year’s Budget is to address the current economic landscape by focusing on inflation and spending pressures. “It won’t be fancy. It won’t be flashy. It will be responsible. It will be solid,” Chalmers has said.

Read more below: 👇

What we know about Albo’s budget Prime Minister Anthony Albanese is set to hand down his first budget on Tuesday, October 25, in the face of soaring inflation and a dark outlook for the global economy.

Thank you for the recognition Brisbane Grammar School

WEALTH MANAGEMENT: BGS Parent and former P&F Treasurer Chris Smith was recently featured in CEO Magazine. Chris is a founding partner of VISIS Private Wealth, one of Australia's leading private wealth management firms. Read more: https://loom.ly/pDs8p7o

The Aussie dollar continues to hit a 2.5yr low against the greenback, trading at less than US63.00c this morning with some commentators saying it could drop below US62.00c this week to bottom out a low cycle.

Weakening commodity prices along with growing deviation of the Aussie and US economies is fuelling the rise of the greenback, also propped up by stronger than expected job growth figures and US inflation tipped to rise to 8.1% year on year later this week.

For investors tied up in Aussie manufacturing, agriculture and export it's sombre news, while those invested in companies earning US currency have reason to be buoyant.

If looking to invest abroad, lower buying power, ongoing currency fluctuation and poor exchange rates mean now is not an ideal time to hedge currency exposure. The pound sterling, Euro and NZ dollar are all down more than 15% year to date against the US dollar.

Follow the $AUD journey against the $USD here 👉http://ow.ly/BF5h50L6vRQ

Last month I wrote about the dubious nature of the Palaszczuk Government’s interstate land tax grab plan.

This week the Premier intervened to scrap the controversial legislation passed in June – which would have forced thousands of interstate property investors to cough up.

Thanks National Cabinet for providing the forum for State and Territory leaders to talk shop and air their concerns.

A balanced ABC News yarn on yo-yoing 🪀policy

Queensland government shelves controversial land tax changes as treasurer defends policy Premier Annastacia Palaszczuk denied the move was a backdown on her government's land tax policy.