As we wrap up another year and approach the festive season, it’s hard to believe that December is once again upon us. It feels like just yesterday we were making our plans for the coming year and now we find ourselves reflecting on the challenges and opportunities that have come our way.
The investment landscape for 2023 has proven to be quite challenging, just as initially forecasted.
To recap, geopolitical and geoeconomic risks have significantly reorganised global structures and relationships during 2023. Russia-Ukraine conflict has persisted, cyberattacks are becoming more frequent, US-China, China-Taiwan and Russia-NATO relationships and now another conflict with Israel-Hamas are causing concern on a global scale.
In our own backyard, interest rates for 2023 have increased an additional 1.25%, the cost-of-living pressures are still mounting and reducing disposable income, the housing crisis, including entry level property prices escalating — making it near impossible for the younger generation to tap into the property market and the ongoing battle to tame inflation have all played a significant role in shaping the current market.
As we reflect on the year that has passed, it’s apparent that navigating the investment world has required resilience and adaptability. Despite the challenges faced, this can also create opportunities. Whilst increased interest rates aren’t beneficial to mortgage holders, it’s welcome by investors! Maintaining a proactive approach through your regular reviews, staying informed with current market trends, diversification and embracing a long-term perspective are all key factors to weathering the storm and maintaining a sound investment strategy.
What’s been happening…
From a practice perspective and with so much emphasis on cyber-crime (we sound like a broken record), we have been elevating our own system security levels and IT infrastructure incorporating ‘Multi-Factor Authentication’ (MFA), plus other measures. You will find that a lot of banks and investment platforms have now adopted MFA in order for you to access your accounts. We touch more on this further into this newsletter.
With increased scrutiny of fraud and in particular signatures – we are finding an increased number of client signed forms being rejected due to differentiating signatures. Whilst we understand that our signatures can evolve over time, unfortunately with data matching software being used, if your signature doesn’t match the original application signed – it’s likely to be rejected. This can cause delays in processing requests.
Unfortunately, the world we now live in requires stringent measures on security and ways to protect and secure your personal data. Which can only be a good thing for you!
Back in June we shared with you Matthew Anderson’s health concern and the need for him to take some personal time away from the office to undergo ongoing treatment. His treatment has now finished, and Matthew has been back in the office working reduced hours, which he will continue while he recuperates and works towards the next steps of his well-being. As always, if Matthew is absent and you need assistance in a timelier manner, please contact the office.
As we bid farewell to another year, it’s unfortunate we still find ourselves recovering from the aftermath of COVID and the unavoidable global tensions. Moving into the new year we will still be fighting the inflation battle, but as us Aussies do, let’s embrace the journey that lies ahead and strive for a new year filled with good health, joy and fulfillment.
From all of us at Pinnacle, we wish you and your family a Merry Christmas and look forward to seeing you again in the New Year.
We will be closing the office over the Christmas period for a short break
From: Friday, 22nd December 2023 (from 12pm)
To: Monday, 8th January 2024
