Baiocchi Griffin Private Wealth in Tamworth, New South Wales | Investing service

Baiocchi Griffin Private Wealth

Locality: Tamworth, New South Wales

Phone: +61 2 6766 9000

Address: Level 1, 462-464 Peel Street 2340 Tamworth, NSW, Australia

Website: http://www.bgprivatewealth.com.au

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25.01.2022 The employment news released today is not good and likely it will get worse before it gets better. However, the headline in this, and likely every other news media commentary on it, will potentially make it sound much worse than it otherwise is. The news headlines could, ironically, in time lead to the number growing larger still. Perspective is everything and in the last recession in the early 90s, unemployment topped 11% - that's a big number and, sadly, it created lots of...Continue reading

22.01.2022 This year will live in the memories of billions of people for the human tragedy which has unfolded across the world these last few months. The tragic loss of lives and the subsequent restrictive measures implemented in an effort to restrain the spread of COVID-19 have had a massive impact on both economies and investment markets. It might still be early days - talks of additional 'waves' of the virus will remain for quite some time - however, as the initial trauma appears to ...be beginning to ease, in Australia at least, we're starting to gather in some initial data on the economic side of the crisis. Numerous theories and outlooks are being put forward by economists and other business commentators. The reality is that no one truly knows exactly when, and to what extent, economies will begin to move forward again. Thankfully, in most countries, it appears that governments and health authorities have chosen to try and 'fix' the health crisis first while quickly moving to implement economic initiatives to support employment and businesses. It will likely be several months before the benefits of the economic stimulus become visible in the data and, of course, a so-called second wave of the virus would likely further delay the economic recovery. From our perspective, we see the recovery being over a very extended time-frame, potentially even over several years. However, in all the chaos, one issue has shone brightly in the portfolios under our management and that is the benefits of diversification of investment capital; diversification across investment sectors and across individual investments. While diversification can never immunise a portfolio from every crisis, it does dilute the full impact of market downturns.

14.01.2022 In light of recent economic and share market volatility, we felt it appropriate to share with our Facebook followers our thoughts on the underlying issues impacting financial markets and the potential impact on your investments. Without going into a detailed discussion on the medical and health-related issues of the Covid-19, it is clear that the emergence and subsequent spread of the virus has been the trigger for a very large downturn in financial markets. While the actual ...health-related impact of the virus is - mathematically - quite low (almost 220,000 global infections as at the 19th March and almost 9,000 deaths from a global population of circa 7.7 billion), the economic impact has been very significant. Travel bans, lock-downs, large scale quarantine measures and a collapse in travel, tourism and trade-related activities has caused a rapid slowdown in economic activity levels in most countries. Stock markets around the world, as a barometer of economic health and sensitive to sentiment and uncertainty, have experienced sharp falls in recent weeks, with the benchmark ASX 200 Index (the largest 200 companies, by capitalisation value, on the Australian Securities Exchange) currently around 30% below its peak, reached in February. Given the prevailing high levels of uncertainty, further falls are certainly possible, although the duration and extent of this current market correction can only be known in hindsight. Without question, there is more disappointing news to come, the most tragic of which is the lives being lost to the virus. We cannot begin to know when economies and investment markets will return to normal conditions - it is quite some way off yet. One thing we do know, is that it is likely a return to 'normal' market conditions might well be indicated by an eventual return to positive sentiment before you read/hear about in the daily news. While our portfolios have always been constructed with risk management at the centre of our methodology no investment portfolio can be entirely immune from risk. However, our diversified approach is centred on reducing dependence on a single asset class and it is times like these that diversification becomes even more important. For our clients, we will continue to update you as the world navigates its way through these difficult times. As per our recent correspondence, please don't hesitate to call us if you have questions. Similarly, we will endeavour to bring clarity to the financial events as they unfold for our Facebook followers. At the office, as you would expect, we have enacted plans to minimise contagion risk to our clients and our staff. Wishing everyone all the very best.

13.01.2022 Yes, we know, this looks like a very messed-up white board but there is a story behind the green. On our board black marker is awfully difficult to remove so we opt for other colours but that's not the explanation for the green 'wanderings' across the board. Every now and then we are faced with a quite complex new client situation and this was one such situation where we needed to gather a few minds around the table and bring together an appropriate series of actions to solve... the clients' problems. We needed to develop a Statement of Advice that would: * Clear a residential property loan held by a Self Managed Superannuation Fund (SMSF) * Manage the tax consequences on sale of the property held in the SMSF * Clear a loan on a residential property outside of superannuation * Most appropriately utilise assets held in a Defined Benefit superannuation fund account - model full super pension versus lump sum and 50/50 pension/lump sum - advantages and disadvantages for each * Design a so-called 'withdrawal re-contribution' strategy to superannuation to manage some existing tax liabilities within the SMSF * Provide investment recommendations on superannuation capital * Model income and expenditure of $70,000 p.a. with the net available assets in retirement. If insufficient capital, can a cash flow of $70,000 p.a. be met through capital draw downs to supplement income? What's the long term impact of that? * Consulting income in a transition to full reliance on investment income in retirement? How much is possible and for how long? * Design, model, discuss and then summarise 3 strategic options for the clients to consider * Recommend one of those options and explain why we believe it best meets their objectives * Understand the status of the SMSF trust deed - might it need updating? * Design start dates for superannuation pensions in retirement * Develop estate planning recommendations - Wills, Powers of Attorney and Enduring Guardianships * An invitation to engage us for the ongoing management of the investment portfolio * Detail and fully explain our fees - initial and ongoing * Discuss, under a standard inclusion in our Statements of Advice for new clients since 1994, 'Setting your investment expectations' - the reality of what can we can and can't do with investment portfolios. * Summary This was a complex situation with multiple variables all of which brought added complexity to the analyses. The whiteboard doesn't get used that often but - as simple as a whiteboard otherwise is - it really helped us bring a logical flow to addressing these complexities.

11.01.2022 This coming Monday morning - 2 March - Ray Griffin will be interviewed on ABC New England North West about the impacts the Corona virus is having on global investment markets. His analysis will address why markets are reacting pessimistically and what might lie ahead for investors. It will be an early start so tune in from 07:15 on Monday morning on your radio or online via this link.

11.01.2022 London's Financial Times details some initial plans for the winding back of restrictions in several European nations.