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Welcome to The Hudson Report Hudson report written and edited by Juanita Wrenn and Katie Gilmour
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Fun Fact: Click here to see which Senior Adviser is also a musician!
July has seen the start of a new reporting era across the financial advice industry, the celebration of NAIDOC week, 5 of our employees celebrating their birthdays, and finally, it has seen Brisbane get the Olympics.
Not sure where I stand with this yet … Rio 2016 incurred a $2 billion loss, Montreal took 30 years to pay the debt back from 1976 and the the original budget for Athens 2004 was $1.6 billion where the actual cost ended up $16 billion ... on the other hand, you can’t deny the extra amount of tourism it will bring for hopefully years after, property prices in Brisbane may prosper on the back of an increase in infrastructure funding from the Federal and State Governments, but this will also depend on a number of factors, like the state of the economy, macro policy at the time, along with supply. And of course a win for all sport lovers!
I want to take the opportunity to cover off on the new legislative requirements facing Hudson and the advice industry as a whole from July 1st, off the back of the Haynes Royal Commission.
The Hudson Advisers
and the support team surrounding them have all worked so hard to get Hudson ready for the new era. The amount of extra paperwork and compliance means that every time we do anything for a client, there is hours of work that goes on behind the scenes. This has meant new support staff and a new way of doing things after nearly 20 years for most of our advisers. Everyone has embraced the new way and while the quality of our advice has always been the same, the new reporting systems and review portfolios we will now be offering, add that little bit extra. This new reporting software now allows our advisers to also offer Whole of Life Plans for clients aged from 20 – 99! We can also offer Aged Care Plans. More information will be out in the coming months.
This is an extract from the financial review that I have included to highlight how very tough it has been for advisers, and will continue to be for at least another year yet.
According to the Financial Review Apr 12, 2021, the supply of registered financial advisers is on track to be 50% lower than before the Hayne Royal commission in 2018, while the costs of quality advice for regular consumers have skyrocketed, new data shows. As the cost to service clients increases, advisers are culling recurring clients that are unprofitable. The median financial advice fee has gone up more than 20% over the last 2 years, as the cost of doing business increases and practitioners get more selective about who they’ll take on as clients. Other reasons for higher fees, aside from rising
costs are extra support staff, an increase in PI insurance, an increase in ASIC fees and reporting fees) and the shrinking supply of advisers.
A lot of firms have sold to larger firms in order to survive and I am delighted that Hudson has managed to stay as a boutique, self-licenced firm. Hudson has been in business for almost 30 years so we have the economies of scale to offer competitive fees, even while our costs are ever increasing.
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BRISBANE PROPERTY OPPORTUNITY
House and Land opportunity in Newport
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Newport – 38 km north of Brisbane on the Redcliff Peninsula. This opportunity was in our latest property email but since that report was done, I have been told that James from Roonsleigh has access to 15 lots. These lots start from $400k up to $800k for a water front/water access block. It’s a great opportunity for the owner buyer especially. Newport has a 23ha lake with a navigable lock to allow powerboats and high mast yachts to reach Moreton Bay.
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Newport has been awarded the coveted Green Building Council of Australia’s 5-star green award. This has been awarded to Newport for its excellence in sustainable design and environmental responsibility and also recognised for its potential for future economic prosperity and liveability. It has proximity to the new Kippa Ring train station with many green spaces and walkways.
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Click here to see more photos and for more information contact Matt Paul on 1800 804 296 or email Matt here.
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To view our latest property report click here and if you’d like to subscribe click here.
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TIP OF THE WEEK – Did you know you can have simultaneous Wills in different countries if you hold assets in different countries. This means that the Wills all get administered at the same time.
SMSF NEW LOW LENDING RATE: 3.99%
for residential property. Anyone with a SMSF will know that this is a good rate!! Contact Heather Ford here for more information.
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Altruism
This article is written by Michal Park – Senior Adviser
I had the privilege of attending the funeral of a Hudson client last week. At her service, I was very moved to hear her life story and hear that this altruism was a common theme throughout her life.
Click the link below to read more.
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Spotlight On Industry Super Funds
This article is written by Kris Wrenn – Senior Adviser
Each year performance comparisons are released for Super funds and the spotlight tends to be on industry funds.
Click the link below to read the full article.
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Commercial Property – Post Pandemic
This article is written by Ivan Fletcher – Senior Adviser
As one financial year closes and another starts it can be a good time for rebalancing investment allocations.
Click the link below to read more.
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Quarterly Wrap Up – June 2021
This is an article written by George Lin/Senior Investment Manager CFS
Over the month, a run of disappointing US economic data raised some doubts about the strength of the US economic recovery.
Click the link below to read the full article.
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Michael Taylor gives his opinion on the South-East Queensland Apartment Market.
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Meet Jung Lee, CPA, our newest Hudson Friend. Michal and I were at a tax institute lunch when we met up with Jung. Her beautiful nature and sharp accounting skills have made us all firm friends. Jung looks after a large Korean client base in South East Queensland and we enjoy her stories at our catch-ups. Jung has made Hudson famous with her billboard looking
advertisement of us. We would like to share this billboard with you as we are very proud to be associated with D&J Accountants.
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National Aborigines and Islanders Day Observance Committee (NAIDOC)
Jean Martin is a good friend of Hudson and has shared an article with us on this important celebration.
Find out more about NAIDOC and what you can do to participate.
Click the link below to read the full article.
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Remember Ken?
Here is the next chapter from 'Wisdom From A Widower'
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If you wish to speak to an Adviser at Hudson Financial Planning, please call direct on 1800 804 296.
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General Advice Warning: Information contained herein is general financial product advice and does not take in to account individual situations, needs or goals. It should not be relied upon and persons should satisfy themselves through independent means that any decisions based on this material are appropriate. We recommend that you consult with your qualified and licensed Hudson Adviser who will be able to make a recommendation based on your specific circumstances.
Disclosure: Hudson Financial Planning is not a stock broker. The research for our stock recommendations is collected from various sources: Intelligent Investor, Morning Star, Ord Minnett, ABN Amro Morgans and Citigroup. Employees of Mainview Securities Pty Ltd currently hold shares in the following ASX
Codes: ASX Codes: CAJ, EWC, HSN, NAB, QBE, TLS, VRT, GXL, FLT, PDL, AD8, VHT, MVP, ALQ - Managed Funds APIR Codes:- FSF0041AU, FSF0035AU, FSF0264AU, FSF0877AU, FSF0876AU, FSF0877AU, FSF0090AU, FSF0873AU, FSF0924AU, FSF0244AU, FSF0228AU, FSF0873AU, FSF0795AU, FSF0043AU, FSF0505AU, FSF0220AU, FSF0233AU, FSF0409AU, FSF0484AU, FSF0468AU, FSF0469AU, FSF0891AU, FSF0892AU, FSF1085AU, FSF0969AU. This is not a recommendation.
Copyright & Disclaimer: The content in the Hudson Report is written by a Hudson Adviser and edited and created by The Hudson Editor. The views expressed in any article are those of individual advisers and do not necessarily reflect the views of Hudson Financial Planning. The material provided in the Hudson Report
and on Hudson Financial Planning website by Mainview Securities Pty Ltd, is copyright protected. As this information is copyright protected, it is not for redistribution. Any requests to use the information provided for commercial use may be directed to - The Hudson Report Editor. The Hudson Report Online is published by Hudson Financial Planning, trading under Mainview Securities Pty Ltd, Australian Financial Services Licence No. 241177.
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