RGM are proud to announce that financial advisory firm Money Talk Planners will be joining forces with RGM come the 1st of July 2025.
Money Talk Planners is a locally, family-owned financial planning business based out of Morwell that has been in operation for over 30 years. It has a reputation of providing high quality advice to its clients in a professional manner; values that underpin the services we provide at RGM. With the move, the entire Money Talk Planners team will reside in our Traralgon office.
There will be no change to the existing service provided to all our financial planning and accounting clients. Joe Auciello, Partner of over ten years in both our accounting and financial planning divisions, explains why RGM sought out this alliance. “In the ever-growing financial advisory sector, it is imperative that as a business, we look at strategic moves to ensure we can bolster our service offering to existing and new clientele. The Money Talk Planners team will bring their own ideas across to RGM that we look forward to incorporating into our business. Over the past two years we have been diligently working in the background to ensure that this move puts RGM at the forefront of financial planning in Gippsland both now and into the future”.
As part of the move, MTP practice principal Tony Salvatore and financial advisor Adrian Salvatore will join the ownership group of RGM. With over 30 years of financial of financial planning experience, Tony is excited about the move. “Both businesses have shared values, and we will be able to offer enhanced resources, greater financial guidance and invest quality time with our clients. It will be business as usual.”
We formally welcome the Money Talk Planning team across to RGM and we’re all excited in what the future holds!
The many unpredictable events of 2024 could easily have been disastrous for investment markets. Instead, we saw remarkable resilience and growth despite occasional volatility as investors reacted to the extraordinary times.
While economic growth in Australia and overseas was underwhelming, share markets rode out the ups and downs to finish 2024 strongly. 2024 was the ‘super election year’, when almost 2.5 billion people in 70 countries voted.i One result that has captured the attention of governments and analysts around the world is Donald Trump’s return to office in the United States. He has promised massive tariffs, tax cuts and increased spending on defence. All measures are likely to increase inflation and budget deficits which will affect global markets and economies.ii
Continuing geopolitical upheaval also marked the year. Tension in the Middle East grew as Israel expanded its campaign and European Union economies came under increased pressure when Ukraine stopped the flow of Russian gas.
The US dollar ended the year on a two-year high but that, and a weakening Chinese Yuan, led to a two-year low for the Australian dollar, which ended the year just below 62 US cents.iii
Cost of living falls but interest rates steady
Around the world, interest rates fell during the year but in Australia, after five interest rate increases in 2023, the Reserve Bank (RBA) held steady at 4.35 per cent, believing inflation is still too high.
Nonetheless, the cost of living has fallen significantly, down to 2.8 per cent in the September quarter from a high of 7.8 per cent two years ago and 3.8 per cent in the June quarter.iv
Falls in electricity and petrol prices contributed to the easing.
Australia’s economy grew by 0.8 per cent in the three quarters to the end of September – it’s slowest in decades.v
House prices mixed across the country
The housing market appeared to cool by the end of the year with average national home values falling by 0.1 per cent in December to a median of $815,000.vi
CoreLogic’s Home Value Index data shows four of the eight capitals recording a decline in values between July and December. These included Melbourne, Sydney, Hobart and Canberra. While in Perth, Brisbane, Adelaide and Darwin, home values increased.
Share markets survive and prosper
Global share markets were unsinkable in a year of stormy economic and political conditions.
The Nasdaq surged more than 30 per cent for the year. The S&P 500 was up 25 per cent – pushed along by the ‘magnificent seven’ tech stocks – and the Dow rose 14 per cent.
Although not quite in the same league, the ASX performed strongly, recording 24 new record highs during 2024. The S&P/ASX 200 closed the year at 8159, up 7.5 per cent, with some analysts predicting 2025 will close around 8800.
Commodities
Gold came into its own as a safe haven for those concerned about events around the globe, reaching an all-time high in October and adding more than 28 per cent for the year.
Oil prices were subdued with investors cautious about a glut, the risks of wider conflict in the Middle East, the war in Ukraine and the change of government in the US. Although there is some optimism for improved growth in China in 2025.
Iron ore prices have continued to decline, now down to about half of the peak US$200 a tonne in 2021.
Looking ahead
Economists’ forecasts vary on the timing of a cut in interest rates in 2025 but some believe there will be as many as four cuts, reducing the rate to 3.35 per cent by year end.
Share price volatility is expected to continue as investors roll with the global political and economic punches and the upcoming Australian Federal Election is likely to introduce uncertainty until the results are in.
If you’d like to review your goals for the coming year in the light of recent and expected developments, don’t hesitate to get in touch.
