Julian McCormack interviews Kerr Neilson on the fundamentals of investing and where he sees value in today’s markets.
Grant Patterson, Managing Director of Providence is quoted in this article in Adviser Voice about the Royal Commission.
“We believe there is an inherent conflict in the manufacture of product and financial/investment advisory, as has been clearly demonstrated during the Royal Commission” said Grant Patterson, Managing Director of Providence Wealth.
“Being truly independent means we have no constraints when it comes to investment selection and the managers we trust and partner with; this results in the freedom to find the best opportunities, which in turn drives a better potential outcome for our clients.
“Being unfettered by institutional ownership or product manufacturing, independent practices are able to provide advice that’s honest, professional and unbiased.”
His Royal Highness, The Prince Edward, Earl of Wessex KG GCVO was hosted by Providence Independent Investment Advisory, at an event today for supporters and alumni of the Duke of Edinburgh’s Award.
The lunch in Melbourne was attended by notable guests including representatives from Cricket Victoria, Invictus Games and Australian Rugby Union.
The purpose of the lunch was to thank Award Ambassadors and supporters for their financial contribution to the award and to recognise the numerous volunteers that support it, as well as a partnership between The Award and The REACH Foundation.
Grant Patterson, Managing Director of Providence, who hosted the lunch is an Ambassador of the Duke of Edinburgh Award and an advocate for youth issues. Mr Patterson said “It is wonderful to be associated with philanthropic groups who support our youth in building resilience, confidence, self-belief and a sense of purpose in order to become the best they can be and the future leaders within our community.”
The event highlighted the Duke4Sport partnerships which aligns The Award with key sporting peak bodies, and an advocacy partnership with youth charity The Reach Foundation.
His Royal Highness, said “The Duke of Edinburgh’s International Award – Australia has experienced much success with new innovative projects launched to broaden our reach to more young people and especially to connect with hundreds of vulnerable youth. Like most charities, we couldn’t possibly achieve this without the enthusiasm, time and connections of our growing list of financial supporters; it is their generosity that has enabled The Award to extend its reach to thousands of young people. “
Our website has been updated to provide clients with even more insight into the Managed Funds that you may be invested in, or interested in.
Click on the Managed Funds page to view products by asset class. For each fund, you can watch videos, read about the investment philosophy, download reports and more.
As always, if you’d like to discuss any of your investments, please give us a call.
Read Providence’s views in the recent article in the Financial Review (by Sally Patten, 5th February 2018); Time for investors to sell long-dated bonds.
“Our view for some time has been that global bonds are extremely expensive. We believe that the bull market is now over. We would want to be very cautious about owning government bonds, which are supposedly risk-free. On a mark-to-market basis, there could be some substantial falls,” Mr Patterson said.
We thoroughly enjoyed reading Andrew Clifford’s thought piece on “Why Indices Lead Investors Astray”. Here we share the article from the Platinum Trust Quarterly Report, for our clients to read about the true value of investing and the ‘distractions’ of indices.
There are useful lessons from 30 years of performance of various asset classes, in this article by Sally Patton (Australian Financial Review, 2nd September 2017).
Grant Patterson, Managing Director of Providence is quoted within the article, sharing his views. “There is an argument that higher equity valuations are justified as a result of the much lower discount rate. However, given that bond yields are a function of economic growth and have been manipulated due to unconventional monetary policy, justifying higher valuations based purely on this is dangerous,” he says.
This Whitepaper discusses and compares active investment management versus passive management. The perennial argument of whether active managers can outperform the index usually reappears towards the top of investment cycles. This is a result of active managers underperforming their relevant benchmarks when markets are driven by momentum and also the fear of missing out on a rising market. We are once again at this juncture after the recent poor relative performance of the average active fund manager over their relevant index.
We believe there is a conflict between providing advice and offering financial products in which we may have a pecuniary interest.
At the time of our establishment in 2000, we were one of the first truly independent investment advisory firms. Independence remains one of our core values.
Now, we are one of the few firms that meets ASIC’s strict criteria of independence; Providence has it’s own financial license, we accept no commissions from financial product providers and we are free of conflicts of interest (see SMH article by John Collett on this topic here).
Our clients can be sure the advice we give is always honest, professional and unbiased – our only allegiance is to our clients.
Level 9, 20 Martin Place
Sydney NSW 2000
T: +61 2 9239 9333
F: +61 2 9239 0355
Level 30, 101 Collins Street
Melbourne VIC 3000
T: +61 3 8793 8383