A note from Pinnacle!

Welcome to the Winter edition of the Pinnacle Brief.

With winter taking hold in southern Australia, it’s the perfect time to rug up in your cozy woolens and enjoy the warmth of an open fire alongside a nice glass of red wine. Nevertheless, as the mercury falls, the troubling lack of rainfall becomes concerning, particularly for our farmers who are grappling with the challenges of drought.

What an eventful quarter it has been. Trump remains at the forefront of world news with his tariff tirade, targeting countries indiscriminately and causing significant turmoil in global markets. However, in a surprising move, he pivoted, by retracting these tariffs, leading to a surge in stock prices as they approached their near previous highs. The quick shift was welcome news to anxious investors; however, the persistent volatility creates a turbulent atmosphere that keeps unease lingering just below the surface, influencing both worldwide and local markets.

In our own backyard and the political landscape, we’ve seen the decline of the Liberal Party as Labor achieved a decisive victory. Whether we welcome it or not, we are now set for another three years of Labor governance. So, what implications does this hold for investors, particularly in relation to the proposed Division 296 ’super tax’ on superannuation gains that exceed $3 million, which will likely take into account unrealised capital gains!

The RBA offered additional relief to mortgage holders in May by reducing interest rates by 25 basis points, bringing them down to 3.85%. Although inflation was slightly above expectations for the year ending in April, it continued to fall within the RBA’s target range. Many economists anticipate another rate cut in July.

Time is running short! With June 30 approaching quickly, if you’re considering making any super contributions before this deadline, now is the time to take action. Don’t risk missing out on important cut-off dates. We’ll provide an overview of the different super contribution types on the next page. If you need assistance, please don’t hesitate to reach out right away!

We are pleased to provide an update on ‘Your Wealth Portal,’ powered by MyProsperity, which we launched in January. We are thrilled to share that over 60% of our clients have activated their accounts and are now exploring the wide range of features available. Our new electronic signing capability has been especially well-received, offering significant efficiencies for both our clients and our team.

Your security is our top priority, and we are committed to enhancing your protection against cyber threats. The portal’s Multi-Factor Authentication (MFA) settings provide an additional layer of security for your personal information. Our goal is to ensure that your data remains safe when transmitted through the portal.

For those clients who have yet to activate their accounts, we will continue to assist you during your regular review meetings.

Thank you for your continued trust in us as we work together to secure your financial future.

Chris LaunerChris Launer—Principal

 

“Pinnacle always provides an excellent service. [My Advisor] has provided outstanding support to my two daughters and I since the death of my husband in August 2020. I would be happy to recommend this service to others.”
Margaret NRetired
“The Pinnacle team has guided the management of our financial circumstances for over 20 years, successfully navigating at least 3 significant economic cycles. Services have been rendered with total integrity and focus on our personal aspirations. During this time we have greatly appreciated the extension of PWM resources to assist a number of family members responding to particular situations along their personal lives' journeys.
Trevor & Carolyn IConsultants
“Pinnacle Wealth Management, who most importantly created a sound financial future for our comfortable retirement, go way beyond being a financial advisor, providing support to us and our children, as their needs have changed, at a strongly personable level. Their client focus is exemplary.”
Barry TRetired Accountant
“We have been Pinnacle clients for many years and have always found their advice to be considered relevant. The administration team is professional, courteous and timely. No hesitation in recommending the Pinnacle Team.”
Damien WRetired Head of Commercial Banking
“A friend recommended Pinnacle Wealth Management to me, having worked with them on his mother's behalf for many years. I'm so grateful to him - my Financial Advisor is brilliant, totally approachable, not as I'd imagined! I now have much greater clarity about financial management and greater peace of mind. For my money, they're the best financial planners in Adelaide.”
Jackie HCommunications Consultant
 “We are long term friends of [Pinnacle Wealth Management] having been clients since its inception. We have appreciated the professional advice and also the care and friendliness of [our advisor] and staff."
Ian WRetired
"We have been clients at [Pinnacle Wealth Management] for about 20 years. It has been a very enjoyable and profitable time for us. We have been safely steered through the GFC, both our retirements and various other major events that have shaped the nature of financial planning in our world. Through the entire time we have been delighted with the care and careful management of our funds through the leadership of [our now retired advisor] and the friendly and efficient support of all the ancillary staff. He has become a personal friend as well as the person whom we trust implicitly to handle our portfolio and to give us sage and pertinent advice on many areas of our concern. We will miss his presence but we are sure that he has chosen well with [our new advisor], and we look forward to forging a similar relationship with him.'"
Ray & Lyn HRetired
"We have been clients of [Pinnacle Wealth Management] since the inception of the business, about 20 years ago. Overall, we have been very pleased with the long-term handling of our financial affairs, the financial strategy implemented and the regular reviews to make sure we remain on track to achieve our goals. This includes regular informative communications. It has been great to receive sound advice and personalised service, tailored to our needs, covering many different tasks. When an emergency occurred, the excellent and swift service we received from the staff [at Pinnacle] was greatly appreciated. We wholeheartedly recommend [Pinnacle Wealth Management] as a Financial Adviser."
Kelvin & Melanie TConsultant
"My association with [my advisor] began many years ago, with a requirement to diversify my portfolio from bricks and mortar to Australian and International equities. At that time [my advisor] worked for another financial services business. I had no hesitation in following [my advisor] to Pinnacle. [My advisor] has the qualifications, but it is his experience and guidance that have been the founding safeguard for my family and I throughout the varying market conditions. [My advisors] expertise and guidance throughout the years has provided us in achieving our goals along with our family needs. His innovation and tailored strategies have kept us on track in reaching our desired endgame.
Tony SMaintenance
Book a free consultation

Pinnacle Wealth Management Advisors are Authorised Representatives of
Pinnacle Dealer Services Pty Ltd, ABN 53 630 368 302, AFS Licence number 513743.

© 2024 Pinnacle Wealth Management
Website & Commercial Photography by Drawcard
Words by Jacqui