The Wrap Up

INVESTMENT Financial markets update

lISTEd SEcurITIESInvesting in listed securities

SMSF vs WrAPAre you better off in an SMSF?

INSurANcEGive your super the power to protect

SPENDING TRENDS

WhY IT PaYS To folloW ThE moNEY

NOVEMBER 2013

The Wrap Up

CONT ENTS

3 WElcoME

4 EcoNoMy Why it pays tO fOllOW thE MONEy

6 INVESTMENT fiNaNcial MaRkEts UpdatE

8 lISTEd SEcurITIES iNVEstiNg iN listEd sEcURitiEs

10 SMSF vs WrAP aRE yOU BEttER Off iN aN sMsf?

12 INSurANcE giVE yOUR sUpER thE pOWER tO pROtEct

14 SuPEr EducATIoN sUpER: yOUR fUtURE tOday

15 FINANcIAl PlANNING haVE yOU lOst tOUch With yOUR

fiNaNcial plaN?

4EcoNoMyWhy it pays tO fOllOW thE MONEy

10SMSF vs WrAPaRE yOU BEttER Off iN aN sMsf?

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The Wrap Up

We are excited to bring you the first edition of The Wrap Up – a new and engaging investor magazine.

In this edition, we explore how investors are starting to shift out of cash-based investments towards growth assets like property and shares – driven by a lower interest rate environment and continued market growth.

Additionally, ANZ’s Chief Economist, Warren Hogan, details what influences household spending and how data gives us valuable clues to market performance.

ANZ Global Wealth’s Chief Investment Officer, Stewart Brentnall, provides his insights to the market events over the last quarter and Tim Neville, Head of Wrap and SMSF Australia, ANZ Global Wealth, looks at how Self-Managed Super Funds (SMSFs) and Wraps stack up for those after a DIY super solution.

We also examine the benefits of holding insurance through your super, and the power of purchasing listed securities via your Wrap account.

Together with your financial adviser, we thank you for choosing us to manage your financial needs. We look forward to providing you with even more valuable insights in future editions – all designed to help you achieve your financial goals sooner.

If you would like to know more about any insights outlined in this magazine, please contact your financial adviser.

together with your financial adviser, we thank you for

choosing us to manage your financial needs.

WEL COME

Welcome to your new Wrap magazine

craig BrackenrigManaging DirectorGlobal Pensions and InvestmentsANZ Global Wealth

Welcom

e 2–3

The Wrap Up

Why it pays to follow the money WArren HoGAn, ANZ’S CHIEF ECONOMIST, ExPlAINS WHY HOuSEHOlD SPENDING DATA IS SO vAluABlE.

The Wrap Up

If you’re like me, you may struggle to remember what you purchased last month, let alone last year or even five years ago.

Chances are that like most Australians, your spending has changed. That is, you are now spending more on some items and less on others.

Spending data gives us valuable clues about how markets may perform in the short and medium term. Broadly, any dollar you spend becomes a dollar of revenue for a business. By extension, a business whose revenue is growing is more likely to be profitable and offer better investment potential than one in decline.

What influences our spending?

Deciding what and how much you purchase involves a multitude of factors. A crucial distinction is between your ‘needs and wants’. This can be broken down into necessities like food, relative necessities like a mobile phone and discretionary items like a designer handbag.Your spending decision will reflect:

capacity – this is your disposable income plus any credit (loans).

Price – price includes both an item’s perceived value (good or bad) and outright affordability.

lifestage – there is a strong link between spending and household structure (single, couple, family) and age. Starting and supporting a family changes the scale and type of spending. So too, health-related spending typically rises as we get older.

confidence – your expectations about the future can influence firstly whether you spend or save, and secondly, what you purchase. For many people, job security is a big driver of confidence.

Values – spending can reflect what you ‘feel’ is important, anything from private schooling for children to a luxury sports car.

At a national level other factors affect spending. For instance, technology advances have made information technology cheaper, weather events like cyclones can temporarily inflate food prices and changes in attitude have altered smoking consumption.

How has spending changed?

Some of the more interesting trends that have emerged since the Global Financial Crisis (GFC) are:

Paying down debt – following the GFC, Australians started to pay down debt more quickly and save more. The net household saving rate peaked at 12% of disposable income in 2011, helped by falling interest rates. It later fell back to around 10%, possibly due to the ‘wealth effect’ from rising property and share values (as some households felt wealthier and hence saved less).*

offshore spending – the strong Australian dollar has seen a rise in overseas travel and online retail spending. Slower domestic retail revenue growth reflects both the online leakage and subsequent discounting. The subsequent decline in retailers’ revenues and margins has seen their share price under-perform the broader share market.

Aspirational spending – social commentators and politicians believe strongly-held aspirations motivate spending. The examples cited are the extensive borrowing pre GFC to buy or improve residential property and the rise in private school enrolments.

Heading up, down or sideways?

ANZ forecasts consumption growth of just over 2% for 2013, picking up to 2.6% by the end of 2014. This will be good for the Australian economy as it reduces its reliance on mining investment to support growth.

* Source: “Australian Economic Weekly, A Close Look at Household Consumption”, ANZ Research, 25 March 2013.

For more on how to benefit from market trends speak to your financial adviser.

Economy

4–5

The Wrap Up

Financial markets update SteWArt BrentnAll, CHIEF INvESTMENT OFFICEr, ANZ GlOBAl WEAlTH PrOvIDES HIS INSIGHTS TO rECENT MArkET EvENTS.

Through much of the September quarter, financial markets were driven by ‘tapering’ speculation. That is, an

expectation the uS would start to wind back or taper the ‘quantitative easing’ (money printing) program that has helped push up uS share values.

As speculation intensified in July and August, so did volatility on share and bond markets. But in mid-September markets had an abrupt reality check. Contrary to expectations, the uS Federal reserve reaffirmed that ‘high stimulus and low interest rates’ will continue until uS employment picks up. In our view, given the current weak growth in the uS economy, tapering is effectively off the table until well into 2014.

Importantly, the global recovery that began in 2010 remains on track even though the 2014 growth forecast fell by a fraction. The past quarter provided mixed signals. Broadly, the outlook for developed economies (besides Australia) improved, however, for emerging economies it was less strong.

The most welcome news came from the most unlikely place – Europe. There, strong manufacturing data suggests the troubled region is finally back on a path to growth. Elsewhere in Japan, the stimulus measures have boosted confidence, production (output) and prices.

The Wrap Up

The main worry around emerging markets is the GDP growth rate in China, which is now below 8%. One upside is that the Chinese government is focused on ‘quality not quantity’ of growth and preventing internal market bubbles.

Here at home, the end of the commodity boom is impacting the Australian economy. lower levels of mining investment have seen job losses in regional Queensland and Western Australia. In August, the weaker outlook for growth and jobs saw the reserve Bank of Australia (rBA) cut interest rates to a record low of 2.5%. This prompted a sharp fall in the Australian dollar. On a positive note, surveys show the change of government in September has boosted business and consumer confidence.

Australian shares

Australian shares were the best performing asset class during the quarter. While the broad share market index rose, some sectors performed better than others. For instance, companies that benefit from a lower Australian dollar such as retailers, manufacturers and small companies, performed well. Conversely, weaker growth signals from China saw mining and energy stocks underperform in the past quarter.

International shares

returns varied across regions and sectors in the September quarter. The uS share index, for example, finished near a record high level despite earlier tapering speculation. The global index of small company shares performed strongly as did the Japanese share market. By contrast, returns from emerging market shares, notably India, were lower.

Australian fixed interest

The local bond market index rose over the quarter driven initially by expectations of the rBA rate cut. Following the August interest rate cut, bond prices reflected global developments.

International fixed interest

Early in the quarter, tapering speculation, especially in the uS, pushed down government bond prices (increasing the yield). In September, bond prices rose when markets realised there would be no immediate policy change. The JP Morgan Global Bond Index ended the quarter up 1.2%.

listed property

returns from listed property in the quarter, both in Australia and globally, were lower than those from comparable share market indices. This suggests that, while listed property offers income (yield) potential, valuations appear stretched.

Currency

The August rate cut in Australia helped push down the value of the Australian dollar as the rBA had hoped. During September however, it recovered some value against the uS dollar. One factor putting upward pressure on the dollar is strong residential housing sales which markets believe make another interest rate cut less likely.

Commodities

key commodity prices rose over the quarter. This was due in part to seasonal factors in the northern hemisphere and, more significantly, to stronger demand from China. The higher prices for coal and iron ore should benefit large mining companies in Australia and emerging markets including Brazil and South Africa.

Talk to your financial adviser to ensure your portfolio is working for you.

Investment

6–7

The Wrap Up

Investing in listed securities THE BENEFITS OF INvESTING IN A WrAP PlATFOrM.

The Wrap Up

* Source: Page 29, Australian Share Ownership Study 2013, ASX.

Exchange Traded Funds (ETFs) in focus

Etfs are diversified portfolios of securities that are traded on the asX. they give you access to a wide range of shares in a single trade and are bought and sold like an ordinary share. they generally cost less, are more transparent and easier to trade than managed funds.

the size of Etf assets in australia has risen 15.2% from $7.69 billion at June 30, 2013 to $8.85 billion at september 30, 2013.†

† Source: Morningstar.

DID You kNoW?The likelihood of share ownership increases with age, peaking at a 49% incidence in the 65-74 age range.– Australian Share Ownership Study 2013, ASX

listed Securities 8–9

Australians have a history of having a strong love affair with listed securities, with one of the highest rates of listed

security ownership in the world.*

What are listed securities?

listed securities are investment instruments that are officially listed on a stock exchange for public trading and include shares in companies, exchange traded funds (ETF), preference shares, listed interest rate securities and listed investment companies.

Why invest in listed securities through your Wrap rather than direct?

Investing in listed securities through your Wrap allows you to receive all the benefits of listed securities such as franking credits on dividends, potential for capital gains tax (CGT) discounts on disposal, cost effectiveness and the ease of buying and selling, whilst providing you with greater control and transparency.

In general, your Wrap allows all your listed securities to be consolidated under one administrative hub for both your super or non–super investments, and allows easy and efficient management of these investments.

The specific benefits of your Wrap include: » Access to the ASx 300 for super and

pension and full ASx access to non-super investments.

» Convenience of real time share quotes and buying and selling of listed securities online.

» The ability for your financial adviser to efficiently manage multiple corporate actions online whilst receiving automatic email notifications to ensure you don’t miss corporate actions when they occur.

» Consolidated reporting which significantly reduces the time spent on paperwork and administration.

» The ability for your adviser to receive research information.

» Pre-trade checks, to ensure that you have enough cash to complete the purchases you want.

What’s next for listed securities on your Wrap?

We have recently made several enhancements to your listed securities offering, which include reducing trading costs, expanding ASx offering in super, improving the research available and providing more efficient trading tools.

Since the Global Financial Crisis, there has been a growing trend towards greater transparency of the cost and type of investments. In particular, ETFs have increased significantly in popularity.

These trends mean that listed securities will continue to be an important part of a diversified investor’s portfolio and we are looking to provide further enhancements to your Wrap service in 2014 to support this.

Speak to your financial adviser to maximise the benefits of your enhanced Wrap service.

The Wrap Up

It’s hard to deny the appeal of taking direct control of your super. After all, the Global Financial Crisis spared no one, with

professional fund managers and investors alike caught up in the fallout.

With a ‘DIY mindset’ deeply etched in Australian culture, it’s no wonder that the wave of Self-Managed Super Fund (SMSF) investors has now reached tsunami-like proportions. An impressive half a million SMSFs now account for one-third of the massive $1.62 trillion of all super assets as at June 2013*.

Yet many SMSF investors are discovering the trustee compliance responsibilities that come with managing an SMSF – some of which are well beyond the time and interest of some Australians.

This compliance burden is made more onerous by constant government tinkering of super and taxation laws, coupled with a growing focus from the regulator (the Australian Taxation Office) on penalising non-complying SMSFs.

the alternative

As a Wrap customer you are able to benefit from a similar level of investment control to an SMSF, with additional benefits like consolidated investment reporting and comprehensive insurance options, without the burden of ongoing trustee compliance obligations.

A Wrap provides access to ASx-listed shares, and an array of other investments including cash and term deposits, Exchange Traded Funds (ETFs) – for low-cost access to Australian and international markets – as well as a significant menu of managed funds.

The only major asset class not offered via a Wrap is direct investment in residential and commercial property, however, only around 15% of SMSF assets are actually invested in direct property†.

A Wrap also provides you with the added benefit of being part of a broader superannuation fund – giving you potential

savings on operational costs and the cost of insurance.

Of course there are circumstances where an SMSF is better for an investor than a Wrap, such as those with a need to tax-effectively invest in direct commercial or residential property. However, it’s important to know if you will be better off with a less onerous and potentially more cost-effective solution such as a Wrap.

So to help, let’s look at how SMSFs and Wraps stack up across three primary reasons for seeking a DIY super solution.

Are you better off in an SMSF?tIM nevIlle, HEAD OF WrAP PlATFOrMS AND SElF-MANAGED SuPEr FuNDS, ANZ GlOBAl WEAlTH, OuTlINES HOW SMSFs AND WrAPS STACk uP FOr THOSE AFTEr A DIY SuPEr SOluTION.

Speak to your financial adviser to ensure your super is working for you.

* Source: Statistics, Quarterly Superannuation Performance, June 2013 – Australian Prudential Regulation Authority.

† Source: Self-managed super fund statistical report – December 2012, Australian Taxation Office. ato.gov.au.

The Wrap Up

an impressive half a million sMsfs

now account for one-third of the massive

$1.62 trillion of all super assets.*

i WaNt tO OptiMisE My taX pOsitiON

i WaNt MORE ValUE fOR MONEy

A complying SMSF is entitled to tax deductions for expenses, such as the supervisory levy, adviser service fees and auditor fees, which are incurred in gaining or producing assessable

income. In addition, SMSF trustees are able to control Capital Gains Tax (CGT) implications by controlling when to buy or sell direct investments.

Wraps also offer CGT control and tax deductions, with tax positions assessed at the individual investor level. Additionally, a Wrap will

manage all the taxation reporting and relevant payments for you, as and when required.

The costs of SMSF administration can vary widely. However, the average operating cost of SMSFs in actual dollar terms has increased from over $4,900

in 2010 to over $5,100 in 2011. And SMSFs solely in the accumulation phase had estimated average operating costs over $6,600 in 2011.‡

With 22% of SMSFs having less than $200,000 in holdings, the average operating expense for these clients would be more than 2.55% p.a. – much more than the average operating costs of a Wrap platform.

More importantly, a recent ATO study§ of SMSF trustees found that the average time

spent by trustees managing their SMSF is 3.7 hours per week, or 4.2 hours per week in a pension phase. So it’s important to consider how much your time is worth when determining the true cost of managing an SMSF.

‡ Source: Self-managed super funds: A statistical overview 2010-11 (30 June 2011), Australian Taxation Office. ato.gov.au

§ Source: Super reforms research: SMSF trustees quantitative findings, 2011, Colmar Brunton research, prepared for: Australian Taxation Office. ato.gov.au

SMSF VS WrAP – A BAlANcEd VIEW

i WaNt tO tailOR My iNVEstMENts tO sUit My pERsONal ciRcUMstaNcEs

A Wrap could address the investment needs of most SMSF clients – without access to real residential or commercial property or collectibles. However, a Wrap avoids the added complexities that come with being a trustee, like having to consider what they can or can’t invest in.

Wraps also offer the additional benefit of access to comprehensive insurance options for potentially less cost and reduced underwriting requirements than would generally be available to most SMSFs.

An SMSF provides access to the complete universe of investment asset classes with the added benefit of directly accessing collectibles and real residential and commercial property. However, there are important considerations to holding a large, illiquid asset such as property in an SMSF – especially when considering payments of benefits and for super pensioners requiring regular income payment drawdowns to fund their retirement.

Whatever the investment strategy, trustees need to invest in accordance with SMSF and superannuation laws like the SIS Act, as well as their Trust Deed – which mandates what the fund can and can’t invest in. Additionally, trustees now need to consider the insurance needs of all fund members as part of their investment strategy.

SMSF vs W

rap 10

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The Wrap Up

When you’re fit and healthy, you have the ability to work hard and build a comfortable life for your family.

But have you given much thought to life Insurance?

life Insurance maybe one of the most important purchases you ever make for you and your family. In the event of a tragedy, insurance helps.

Given Australians have a household debt to disposable income ratio of over 150%*, there is even more reason to ensure that you have sufficient insurance to help cover your lifestyle and debts.

Although we’d rather not think about the ‘worst case scenario’, the fact is many Australians will suffer an unfortunate health event in their lifetime that could put their family’s financial security at risk.

Thankfully, you only need to look to your humble super account to give you the power to protect you and your family’s lifestyle against the unexpected. This protection often comes in the form of three main insurance categories:

life cover: which pays a lump sum (or may pay an income stream) to you or your family in the case of death or if you are diagnosed with a terminal illness.

total and Permanent Disablement (tPD) cover: which pays a lump sum (or may pay an income stream) if you suffer an illness or injury and can’t work on a permanent basis.

Income Protection (IP) cover: which pays a monthly benefit (usually up to 75% of your income) if you can’t work on a temporary basis because of sickness or injury.

In addition to the confidence and peace of mind that comes with knowing you and your family are covered against loss of income or, at worst – loss of life, establishing insurance through your super can be a very tax-effective way of gaining added financial protection.

How much could you save?

Instead of taking out a separate life insurance policy and paying premiums with your take-home (after-tax) pay, you may benefit by structuring your insurance through your super and have the insurance premiums paid from your account balance and any additional super contributions.†

In doing so, you could tax effectively reduce the cost of your insurance by as much as your marginal tax rate, which could be as much as 46.5% in certain circumstances. This is because the deduction available for insurance premiums paid from within a Super Wrap account effectively offsets the 15% contributions tax that would normally be payable on contributions.

In saying this, the contributions tax for those earning over $300,000 p.a. is 30%. So for high-income earning individuals, the contributions tax payable on the insurance premium is effectively halved to 15% – which is still a lot less than the 46.5% tax payable outside of super.

Give your super the power to protect MAxIMISE THE COST BENEFITS OF INSurANCE THrOuGH YOur SuPEr WrAP ACCOuNT.

The Wrap Up

Generally, you can claim IP cover premiums as a tax deduction outside of super, however life and TPD cover are not generally tax-deductible outside super.

In addition, by contributing after-tax monies to fund your insurance premiums within super, you could qualify for a government co-contribution or spouse contribution offset‡, which could further reduce the cost of insurance cover or boost your super balance.

It’s easy to get covered within your Super Wrap account. Insurance is provided by OnePath life and OneCare which are highly regarded and award-winning insurance offers.

You may be eligible to apply for a basic level of combined life and TPD cover without any

medical checks – provided you are currently actively working and satisfy some basic criteria regarding your health.

Alternatively, a customised OneCare insurance option will allow you to tailor higher levels of cover to meet your specific needs.

What are the estate planning and tax considerations of benefits paid through your Super Wrap?

Apart from the cash flow and the tax effectiveness of funding insurance through the Super Wrap, it is also important to consider the type of benefits payable from your Super Wrap.

For example, your eligible dependants may receive unlimited tax-free lump sum payments, a tax effective income stream or a combination of both, if you, the insured, pass away while being a member of Super Wrap. Alternatively, a lump sum payment may be paid to your estate for distribution according to your Will. Total and Permanent Disablement benefits can also be paid out of the Super Wrap but there are specific conditions and tax implications which need to be considered in these cases.

one Path life has won the following awards for oneCare

In 2008, 2010, 2011, 2012 and 2013 OnePath was named risk Company of the Year at the Money Management /DExx&r Adviser Choice risk Awards

To maximise the benefits of insurance through your Super Wrap account, speak to your financial adviser today.

* In December 2008. Source: Australian Social Trends, Australian Bureau of Statistics, March 2009 (ABS cat. no. 4102.0).† Please note that insurance premium deductions from your super account will reduce your super fund balance. In addition, any contributions made to super to fund insurance premiums will count

towards your annual contributions caps. Exceeding these caps may result in you having to pay additional tax. For more information, please speak to your financial adviser.‡ Clients could receive a government co-contribution of up to $500, or an offset up to $540 p.a. for eligible contributions to their low-income earning spouse’s super account. For more information

on the Government co-contribution and the spouse super contribution tax offset please visit ato.gov.au§ Source: The Lifewise/ NATSEM Underinsurance Report − Understanding the social and economic cost of underinsurance.II Source: Australian Institute of Health and Welfare & Australasian Association of Cancer Registries 2010. Cancer in Australia: an overview, 2010. Cancer series no. 60. Cat. no. CAN 56. Canberra: AIHW.** In 2007. Source: ‘National Survey of Mental Health and Wellbeing’ – Australian Bureau of Statistics, 2007 (ABS cat. no. 4326.0)

The typical Australian family will lose half or more of their income following a serious illness, injury or the loss of one parent, as a result of underinsurance.§

95% of families do not have adequate levels of insurance.§

Underinsurance is expected to cost the Federal Government $1.3 billion over the next 10 years.§

By the age of 85 years, 1 in 2 males and 1 in 3 females will have been diagnosed with cancer at some stage in their life.ii

Almost half (45%) of Australians aged 16-85 years have suffered from a diagnosable mental illness.**

DID You kNoW?

Insurance 12–13

In 2008, 2009, 2010, 2011, 2012 and 2013 OnePath’s OneCare product won the Prominent five-star CANSTAr Outstanding value For life Insurance award

The Wrap Up

Most working Australians have a super account – in many cases more than one. However, as we generally don’t

see the savings until retirement, it’s often an afterthought. In reality though, getting to know your super and building a relationship with it may enable you to better grow your retirement savings and allow you to enjoy the lifestyle you want to lead in retirement.

Super comes to life

OnePath is helping to make it easier than ever with a new range of short videos presenting key super subjects in bite-sized chunks. By cutting through super’s sometimes technical language, they are helping Australian’s to learn about important issues, including:

» an introduction to super» consolidating multiple accounts» super investment choice» taking your super account to a new job» making additional contributions» transition to retirement strategies» retirement options.

These videos are the ideal way to discover what options are available with fact sheets providing guidance on next steps to take.

It all adds up

You also have access to two new easy-to-use calculators that help you find out how you are tracking to your retirement goal, as well as what options you have to increase your retirement savings.

Your super future calculator: shows how much income you may have in retirement based on current information and provides simple options to improve your retirement savings.

Contributions calculator: demonstrates the smartest way to contribute to super in the current financial year using before or after-tax contributions.

enhanced website resources

The videos and calculators are conveniently located on topic-specific webpages where you can access updated fact sheets and be guided along the next steps to take. So once you’ve got the information you need, taking action is simple.

Super: your future today

You can access these fantastic new resources at onepath.com.au/manageandgrow

HOW WEll DO YOu kNOW YOur SuPEr?

The Wrap Up

your financial adviser can help improve your financial situation in many ways:

Improve your day-to-day cash flow by helping you better budget and manage your debts.

Maximise tax-effective opportunities using superannuation and other investments.

Accelerate your retirement plan to help you retire on your terms.

Protect your income and family assets with effective insurance strategies.

Set your kids and grandkids up for success with effective savings plans and intergenerational Estate Planning strategies.

Often, visiting the family doctor for an annual health check-up can ensure we avoid, or better manage, any nasty

and unwanted health surprises. Many of us might even be spurred on to visit the gym or consult the services of a personal trainer as a more pro-active measure of maintaining a fit and healthy lifestyle. So why don’t we apply the same approach when it comes to our own financial plan?

When you consider that our finances play such a vital role in our ever-changing lives, and that more than 9% of our income goes towards funding our future lifestyles in retirement, it is amazing that we are not more proactive in seeking advice to help manage our finances.

Of course there’s much more to life than superannuation and retirement planning. A financial adviser can significantly improve your current and future lifestyle needs by ensuring your financial plan is continually catering to your ever-changing circumstances.

Plus, like any good doctor or personal trainer, your financial adviser can help you make

pro-active decisions that will help you avoid costly mistakes, while significantly improving your outlook.

Keeping your financial plan up-to-date with your adviser can be very rewarding

Independent research by kPMG shows that someone who saves with the help of a qualified financial adviser at age 30 could be more than $91,000 better off at retirement. And those who receive financial advice later in life can also benefit, with the average Australian aged 60 gaining a potential $29,000 more by age 65.*

More importantly, these figures don’t account for the added peace of mind and – as Andrew Inwood from leading research house CoreData explains – “happiness” experienced by those who have an established relationship with a financial adviser.

“We have data that proves that a good financial adviser adds not only money but also

happiness to people’s lives – we can prove that empirically,” Andrew says. “Someone’s level of happiness isn’t subjective, it’s an objective thing that you can actually prove by asking a series of questions and understanding the answers; you can pretty clearly map people’s levels of happiness and satisfaction. People who have a financial adviser and an up-to-date financial plan in place are much more likely to understand and be in control of their future than people who don’t. And those two things are very strongly aligned to happiness.”

When you consider the real emotional and financial benefits of keeping your financial plan up to date, maybe it’s time you reviewed them more often with the help of your financial adviser – ensuring you remain on the right track to achieving both your immediate and longer-term financial goals.

Have you lost touch with your financial plan?NOW COulD BE A GOOD TIME TO rEvISIT YOur FINANCIAl PlAN TO ENSurE YOu CONTINuE TO ACHIEvE YOur FINANCIAl AND lIFESTYlE GOAlS.

To ensure you stay on track to achieving your lifestyle and financial goals, call your financial adviser today.

Financial Planning 14–15

* Source: The Value Proposition of Financial Advisory Networks – Update and Extension report prepared by KPMG Econtech for the Financial Services Council, 2011.

Oasis Fund Management limited (ABN 38 106 045 050 AFSl 274 331 rSE l0001755) is the issuer of this document and is the Trustee of the Oasis Superannuation Master Trust (Trust) ABN 81 154 851 339 and the Operator of the Investor Directed Portfolio Service (IDPS). This information is current as at November 2013 but is subject to change. The information provided is of a general nature and does not take into account your personal needs, financial circumstances or objectives. Before acting on this information, you should consider the appropriateness of theinformation, having regard to your needs, financial circumstances or objectives.

You should read the relevant disclosure documents and the terms and conditions for the use of MoneyOne® Online and consider whether the products are right for you before making a decision to acquire or continue to hold the product. MoneyOne® is a registered trademark of moneyone.com.au limited (ACN 092 030 352). You should seek professional advice from your financial adviser before making a decision to invest.

This magazine is issued by:Oasis Fund Management limitedABN 38 106 045 050 AFSl 274331242 Pitt StreetSydney NSW 2000

correspondence:locked Bag 1000Wollongong DC NSW 2500

contactus@onepath.com.au

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