Provision Newsletter

A year ago, we published a paper on the challenges of transitioning to autonomous vehicles. It focused not just on the technology required, but also on the infrastructure challenges it presented – such as the need for large investments and tough socio-political choices – in order to facilitate widespread adoption.

We have come across a number of interesting anecdotes of late, which highlight the continued infrastructure challenges related to this mega-trend.

1. Transurban recently released videos from the various autonomous vehicle trials it conducted, which demonstrate that camera technology is still prone to basic errors, including line-following issues and being confused by scuff marks on roads. In general, the road furniture (signs, markings) in Australia is better than elsewhere in the world, but there is still much room for improvement. The results can be seen here.

2. A persistent issue among politicians is how to bridge the revenue shortfall from gasoline that will inevitably occur with widespread adoption of electric vehicles.

In Europe, for example, fuel taxes currently comprise, in aggregate, 3.2 per cent¹ of total tax income for governments (and as high as 7 per cent in some countries), so there is a sizeable amount of tax revenue at risk from electric vehicle adoption. In Illinois, there’s been furore around proposals that electric vehicle owners (who benefit from extensive subsidies), should pay for the shortfall in gas tax revenue, at a higher level than existing gasoline cars are asked to pay.

This tax conundrum has raised its head at several forums we have attended on autonomous vehicles. We’ll be sure to provide an update when we hear a workable solution.

3. Bank of America Merrill Lynch analysts recently halved their estimate of the penetration of electric vehicles in 2030 from 30 per cent to 15 per cent²  of vehicle sales. This is largely due to an expectation that cost parity between electric and gasoline vehicles will take longer than initially thought. China has also recently announced it is to cut subsidies available to electric vehicle purchasers by around 50 per cent, which could put further pressure on the rate of adoption in a market which is moving faster than most.

Are there other impacts?

For toll road operators, the likely impact of autonomous vehicles may be quite varied, depending on the type of road and the length of concession. For inter-urban roads, autonomous vehicles could increase demand, while intra-urban roads could see reduced demand from multiple vehicle occupancy and lower congestion.

In either case, we believe this is only likely to have a meaningful impact on the present value of cash flows in the concession from the mid-2030s onwards. During this timeframe all major listed European concessions will have already expired and have been retendered (allowing owners to price-in this risk).

For newer concessions, such as Westconnex, the long remaining life of the asset means that Transurban managers have needed to ‘take a view’ on the likely impacts at the time of the bid – not an enviable task.

However, we believe the largest issue in getting autonomous vehicles on the road will be the social impact. It will inevitably favour urban citizens over rural and those with high disposable incomes versus low, which are exactly the types of trends society is pushing back against today.

If governments decide to tax their way to paying for the required infrastructure rather than following a fully-allocated ‘user pays’ model (on which we believe the unit cost economics barely reach what public transport can already be delivered for today), autonomous vehicles could simply be a tool to further push on social pressure points.

¹Taxation Trends in Europe 2019: DG Taxation and Customs Union
²Can’t buy EV’s love (yet) … in the US. Bank of America Merrill Lynch. 31st May 2019

Content sourced from Cuffelinks and Livewire does not represent the views of AMP Capital or any member of the AMP Group. All information on this website is subject to change without notice.

Author: Andy Jones – MBA, MEng and MA (Cantab.), Portfolio Manager/Analyst, London, United Kingdom

Source: AMP Capital 9 July 2019

Important notes: While every care has been taken in the preparation of this article, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455)  (AMP Capital) makes no representations or warranties as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. This article has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this article, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This article is solely for the use of the party to whom it is provided and must not be provided to any other person or entity without the express written consent of AMP Capital.

https://vimeo.com/345828633

Investors worried about the US/China trade war have another geopolitical concern with tensions rising between President Trump and Iran.

It does seem President Trump and the US has a predilection for getting into conflicts or issues around the world.

Investors are right to worry about the situation in the Middle East. It could be a source of volatility in the short term at a time when global markets are already vulnerable. But ultimately, like the trade war, we believe that the US will seek to negotiate a solution.

Unwinding a deal

Back in 2015 various countries around the world signed a deal with Iran to limit Iran’s nuclear capabilities in return for Iran being able to export its oil. In other words, sanctions were removed from Iran.

That helped push oil prices down and petrol prices at the bowser in Australia down.

But last year, President Trump said America was going to leave the 2015 deal because he believes Iran is building a nuclear program. American sanctions kicked in against anyone who trades oil with Iran.

That of course has led to a sharp reduction in Iranian oil exports and some rise in world oil prices.

War fears

Of course, Iran isn’t very happy about this. That has created tension in the Middle East and prompted fears of a military confrontation. After initially approving a military strike after Iran downed a US drone, President Trump pulled back from launching the strike.

Trump has also announced more sanctions and in response Iran has closed diplomatic channels.

The tension obviously threatens the flow of oil through the Strait of Hormuz through which 20% of the world’s oil production flows daily.

Trump’s interests

This is a major flash point and major issue.

Ultimately, however, I do think it’s again in President Trump’s interest to resolve this issue through negotiation rather than military action.

Americans do support America being tough particularly when it comes to the Middle East. But when it gets bogged down and it results in much higher oil prices, as presidents found in the 1970s, it doesn’t go down so well with the American electorate.

Support from many traditional US allies like Europe is also weak because they didn’t support Trump’s decision to break off from the 2015 nuclear deal with Iran.

Source of volatility

So, we believe it is in Trump’s interests to resolve this issue in a negotiated fashion that avoids a sharp rise in oil prices.

But obviously the tension is a source of uncertainty, along with trade. And both of those issues – the trade war and Middle East tension – are potential sources of volatility for investment markets over the next few months.

Author: Dr Shane Oliver, Head of Investment Strategy and Economics and Chief Economist, AMP Capital Sydney, Australia

Source: AMP Capital 11 July 2019

Important notes: While every care has been taken in the preparation of this article, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455)  (AMP Capital) makes no representations or warranties as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. This article has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this article, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This article is solely for the use of the party to whom it is provided and must not be provided to any other person or entity without the express written consent of AMP Capital.

In a low-interest, lower-return, more-volatile investment environment, investors have an even greater incentive to keep wealth-damaging behavioural traits or biases under control.

Individual investors have no control, of course, on the emotions of other investors or the overall state of investment markets. However, you can try to keep your emotions in check when making investment decisions.

And it is under your control to create and stick to an appropriately-diversified portfolio, set achievable long-term goals and have realistic expectations for returns. A disciplined investor guided by a solid financial plan is less likely to allow emotions to get in the way of investment success.

Here are seven of the undesirable traits that behavioural economists generally say investors should avoid:

Overconfidence

Many investors have an unjustifiable confidence in their ability to make smart investment decisions. Overconfident investors often believe they can pick future winning investments and somehow beat the market.

This overconfidence typically leads to frequently buying and selling shares in a chase for winners and being overly optimistic about the future performance of chosen investments.

Loss aversion

An excessive aversion to loss can make investors unreasonably sensitive to investment losses. Such investors tend to sell their winning investments while holding on to losers that are unlikely to recover.

And loss aversion can lead to investors being unwilling to take appropriate investment risks – potentially lowering long-term returns.

Regret

Excessively dwelling on past losses can lead to investors focusing too much on part of their portfolio rather than the portfolio as a whole. This trait, also known as “narrow framing”, can hinder an investor’s efforts to have a properly-diversified, long-term portfolio and make them more sensitive to short-term market movements.

Inertia

Inertia tends to get in the way of beginning to seriously save, saving more whenever possible and developing a long-term financial plan.

Fear and greed

These are the terrible twins of becoming fearful when markets are falling and becoming greedy when markets are rising. Fear and greed often lead to selling shares after prices have sharply fallen, only to buy after prices have sharply risen.

Comfort in crowd-following

Investors often gain a false sense of security by following the investment crowd. As with fear and greed, this usually results in jumping in and out of the markets at the wrong times.

Confirmation bias

This involves deciding on a course of action and then looking around for evidence to support that action while blocking out contrary opinions and research.

As part of your efforts to keep damaging traits or biases in check, try to block out investment “noise” – the abundance of often-conflicting and misleading information facing investors.

Make the most of investment compounding to magnify your long-term returns. (Compounding occurs as returns are earned on past returns as well as your original investment.) Recognising the rewards of compounding can help investors to stay focussed on the long term.

And think about ways to beat investment inertia including putting yourself into a form of saving “autopilot” by making higher salary-sacrificed super contributions.

 Please contact us on |PHONE| if you seek further assistance on this topic.

Source : Vanguard June 2019 

By Robin Bowerman, Head of Corporate Affairs at Vanguard

Reproduced with permission of Vanguard Investments Australia Ltd

Vanguard Investments Australia Ltd (ABN 72 072 881 086 / AFS Licence 227263) is the product issuer. We have not taken yours and your clients’ circumstances into account when preparing this material so it may not be applicable to the particular situation you are considering. You should consider your circumstances and our Product Disclosure Statement (PDS) or Prospectus before making any investment decision. You can access our PDS or Prospectus online or by calling us. This material was prepared in good faith and we accept no liability for any errors or omissions. Past performance is not an indication of future performance.

© 2019 Vanguard Investments Australia Ltd. All rights reserved.

Important:
Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author.

Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.

Finding motivation for starting a new business can be easy to come by, but as time passes these feelings may begin to fade. So what do you do when motivation is lacking?

The buzz and excitement of all the things a new business owner discovers each day, coupled with the joy of being your own boss can make it easy to bounce out of bed while things are getting underway.

At this stage, motivation for your business is high – but chances are it won’t remain this way forever.

For many business owners, the buzz and drive may remain for years, but then one day you no longer have that level of excitement in your belly and you may begin finding it hard to jump out of bed.

It happens to all us at different times and for different reasons. So the skill we need to develop is to identify when our motivation is lacking and take steps to build it back up.

A simple definition of motivation

Issues with motivation can’t be solved without first coming to terms with what motivation is, versus what it isn’t.

In short, motivation is your reason for doing what you do. It isn’t your energy levels as such, but rather the ‘why’ behind that energy.

For new business owners, that ‘why’ should be obvious to you. But there are circumstances when it can start to slip.

Why do we lose motivation?

Let’s first look at some of the reasons why we lose motivation.

From my experience, there are three main reasons:

• No challenge – Doing the same thing, while exciting when you first started your business, has now lost its excitement or edge. As business owners we need challenges to keep it stimulating for us. As we gain experience, the challenges we had before become part of everyday business and the ‘same old, same old’.

• Exhaustion – The stress of worrying about business 24/7 and all the things that have to be done can take its toll, particularly if you are unable to have a break from work. There are some great aspects about building business, but it can also grow the workload and cause you to feel overwhelmed. For others juggling the priorities of the business with life priorities can sap motivation.

• Unexpected setbacks – Those surprises that can derail you, such as that job you thought you had not eventuating, or a customer complaint that you didn’t see coming or believe was justified. Ouch! That can take the wind out of your sails. For other business owners it might be the lack of appreciation from clients, an unexpected bill or hurdle with money that makes them lose their motivation.

How can we find motivation once it’s lost?

The longer you have been in business the more likely you are to have experienced some of these motivation-sapping feelings.

The good news is that as business owners we are a resilient bunch and we always find ways to get our motivation back.

So here are six ideas for you to try next time you’re feeling demotivated.

READ: Should you throw out your business plan?

1. Revisit your goals

Understanding why you are in business and what you want to achieve can be a great source of motivation and sometimes we can forget.

Getting reacquainted with your purpose for being in business may be enough to reignite motivation.

Revisit those goals and throw any out that aren’t serving you or the business anymore. Set short term goals such as daily, weekly and monthly goals as well as long term goals.

2. Mix it up

Doing something differently can get your engines running again.

It could be as simple as cleaning your workspace or mixing your boring tasks with some of the more fun tasks.

For more inspiration, consider visiting your competitors or going interstate or overseas for new ideas.

Book in to a conference or training workshop. Or, if that’s something you do every year, then maybe consider not doing that this year and go on a holiday instead.

3. Get support

Have a chat about how you are feeling with friends or other business colleagues.

Every business owner at some point in their business journey would have felt the same and talking about it can make you feel better.

READ: 4 signs that your startup needs to hire

4. Reconnect with hobbies

Our business may be our life and where we put most of our energy, but we do need outlets other than business.

Shifting the focus from work for a day or on a regular basis can help you put things in perspective.

Choose a hobby that you love and that brings you joy and spend a little time doing that. It might be taking a day off to play golf, play music, read a book, catch a movie, bushwalk, surf, yoga, shop, gardening or going for a bike ride. Whatever helps you feel accomplished and takes your mind of work.

5. Have a holiday

Take some time out.

If you can’t take a holiday this year, then book one for next year. Knowing you have a holiday coming up can be extremely motivating. We all need to recharge our batteries.

READ: Why you need to start planning your next holiday today

6. Challenge yourself

Identify ways you can improve your business.

Seek feedback from customers or a business coach and make a plan for improvement. You might also consider setting a new business stretch goal that is achievable but challenging.

Throughout your business lifecycle you will have times when your motivation is low. The key to being successful in business is to be able to identify when you need a boost.

Try one of these six suggestions and I’m sure your motivation will be back before your next BAS is due.

Tags mentor productivity small business tips starting out work life balance

Source : MYOB April 2019

Reproduced with the permission of MYOB. This article by Ailsa Page was originally published at https://www.myob.com/au/blog/six-tips-stay-motivated-new-business-owner/

Important:
This provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.

Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author.

Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.

Having a solid business idea is a far cry from having a successful business. In this article, Benjamin Kluwgant discusses the best ways to approach turning your concept into a reality.

Have you ever been working your day job and all of a sudden experienced a light bulb moment with a genius business idea?

Well, if you have, you’re certainly not alone. These days, anyone with even the slightest drop of entrepreneurial spirit in their blood tends to come up with an idea every now and again that they consider taking on.

Unfortunately, these ideas don’t often come to fruition due to obstacles such as limited access to funding, lack of know-how or readiness to leave a full-time and secure job. Other times, a simple lack of follow through can be the culprit. The idea then goes begging and joins millions of others in an ocean of missed opportunities.

In the small percentage of instances that such an idea is taken seriously though, moving from the idea phase into the creation of an actual business is nothing short of an uphill battle with an endless amount of challenges.

But, if the right strategies are used and if the idea is approached with a disciplined attitude, these unavoidable challenges can play a huge part in setting up a long-lasting business with strong foundations.

In order to get some insight from an experienced, early-stage business mentor, I reached out to Alan Tsen, Melbourne general manager of Stone and Chalk and chair of Fintech Australia, asking for his take on how to approach this delicate transition from idea to business.

1. Setting realistic expectations

According to Tsen, before even beginning the journey from idea to full-fledged business, it is important to align your expectations with the reality of the situation, which is: starting a business is far closer to tip-toeing through a minefield than it is to a stroll in the park.

READ: 10 mistakes entrepreneurs make

“Building a company is hard,” Tsen told The Pulse. “In fact, in many ways it’s an impossible task that requires super human levels of focus and determination. It’s a grinding process that takes years of relentless work with many pitfalls and landmines.”

2. Stay focused – keep your eye on the prize

Assuming you can come to terms with the ‘mission-impossible’ type of venture that lies ahead, there are a number of important strategies that Tsen outlined that can help make the transition more manageable.

The first strategy is simple: avoid distraction at all costs.

Based on Tsen’s experience in watching early-stage business founders undergo this transition, he said that it’s “easy to get distracted” by the next “shiny thing” that looks like it’ll make your business more successful.

While ‘shiny objects’ are often tempting, they can be very dangerous. In the competitive world of startups and innovation that we live in today, it is of paramount importance to stay focused on building the solution to the problem you originally identified.

According to Tsen, in order to play in the league of “great startups”, the focus needs to be in creating one solution that is “a magnitude of order better” than any other pre-existing solution.

“Being maniacally focused on what your customers need and solving their problem is the key early on.”

3. Validate and answer hard questions early

It doesn’t matter how good your business idea might be – when you start out, there are always going to be fundamental questions that need to be answered.

Tsen encouraged those starting out with their business ideas to “test the hard ones early” and not to be afraid to face those challenges head on.

“For example,” explained Tsen, “will a customer actually pay you money for the product? Is this product really 10 times better? If it isn’t (which is fine early on), what is your proposed pathway to get there?”

Don’t shrug off the fundamentals or assume you ‘just know’ whether or not something will work. If you launch your business without answering those questions first, you’ll end up scrambling for answers when it’s too late.

4. Balance the company vision with customer input

Another strategy Tsen implored people to implement at the early stages of proving a business concept is to effectively balance your mission statement with the input you receive from potential customers.

When you’re in the validation phase, you have no choice but to consider the feedback offered by those within your target market. Often that feedback can lead to distractions which compromise your vision for the business’ direction.

READ: When should you begin paying yourself?

“Have a view and vision for the company and then augment that with what your customers tell you,” said Tsen.

“If you can do that well, you’ll end up in the sweet spot of being both valuable and unique.”

5. Don’t let failure scare you

At the early stage of a business venture, risk of failure is extremely high. Entering the unknown, testing and tweaking your offering and keeping up with industry trends are all things that invite enough challenge to cause even the most ambitious of people to fail harshly.

As we saw from SpaceIL’s failed attempt to land on the moon earlier this year, successful stories are all filled with plenty of turbulent times and failures.

If you can maintain focus, find the courage to answer the hard questions, balance your vision with customer input and be ready to accept failure, there isn’t much that can stop you from building a high-quality business.

Source : MYOB June 2019

Reproduced with the permission of MYOB. This article by Benjamin Kluwgant was originally published at https://www.myob.com/au/blog/business-idea-startup-tips/?

Important:
This provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.

Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author.

Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.

Do you feel like ‘stressed’ is your new normal state of being? Can you remember the last time you went to bed without a care in your mind and woke up the next morning energized and excited for the day? Our modern lives, though full of opportunity, have us anxious, stressed and exhausted, and it’s almost at the point where if you’re not constantly stressed about work, finances or relationships, you might just stress about not being stressed enough!  

While a stress response is a normal function for our bodies and we definitely do need it in certain circumstances, being constantly stressed is not healthy and it’s making us sick. In fact, according to the World Health Organisation, stress is the health epidemic of the 21st Century. 

How We’re Stressed 

There are three ways our bodies can be stressed:

1. Physical: this can be a trauma, injury, accident or fall

2. Chemical: this includes flu, bacterial infection, hangovers, and unbalanced blood sugar levels

3. Emotional: this is the fear-inducing situations, perceived pressure at work or financially, family tragedies. 

Joe Dispenza explains that when our bodies experience physical, chemical or emotional stress, it knocks the brain and body out of balance and activates the Sympathetic Nervous System. This is the fight or flight system that helps us deal with perceived threats in our external environment. When this system is activated, other systems in the body are affected, including the way in which the body sources and burns energy to give the body a rush of adrenaline. 

This activation and mobilization of energy and particular body function are great in situations where we need to be able to react quickly – jump out of the way of speeding car or falling object – situations that are short-lived but require an immediate response. However, when the perceived threat to us is ongoing – say mortgage and financial stress – the body stays on high alert for prolonged periods, using up enormous amounts of energy and leaving the body unable to return to its normal state.  

What’s The Problem With Prolonged Stressed?

“Over 90% of disease and illness today is based on lifestyle and stress, not genetics,” – Bruce Lipton 

Stress hormones shut down the immune system making us vulnerable to disease, infection, and cancer. 

What does that mean for the average person living with constant stress? Bruce explains that by always being stressed “we are inhibiting our immune system every day.” This creates an environment for disease to develop… and that’s serious.  

Consider this: people produce cancer cells every day, but healthy immune systems can get rid of it. If you’re constantly stressed, creating a weakened immune system, your body will be less likely to protect you against cancer cells.  

Additionally, Dr. Josh Axe has shared that our emotions can impact our health with specific feelings driving disease in specific organs. He believes that managing our emotions is just as, if not more, important than fixing your diet for your health.  

The impact of emotions on the organs:

• Fear: reproductive organs, kidneys, and adrenals

• Frustration: liver

• Grief, sadness, depression: colon, lungs, immune function

• Anxiety: heart, small intestines

• Worry: spleen, pancreas, stomach

Techniques Proven to Reduce Stress 

By acknowledging your stress you can start to reverse its presence and impact on your life. There are a number of techniques you can implement to reduce stress and improve your health, and it starts with making a commitment to change your lifestyle.

Dr. Libby says that ‘stressed’ is the busy person’s word for fear. She shared with us that most of the time, people who are stressed at work have a fear of disappointing others or letting down the team, or a fear of failure. If you can understand the source of your fear, you can start to overcome the issue and reduce the stress.  

Dr. Libby also explains that it takes time to change the way we respond to stressful events. “We understand that for physical fitness, we need to train our body – we can’t just get up one day and run a marathon. The same is true for our mind – it requires a daily practice of ‘training’.” 

8 Ways to Reduce Stress 

1. Reducing your caffeine consumption

2. Talking to yourself about the source of your stress, try to change fear into fascination and learn more about yourself. Catch negative thoughts as they appear and replace them with thoughts of gratitude and positivity.

3. Considering your perceived pressure – most of the time we’re putting deadlines and pressure on ourselves that aren’t necessary.

4. Meditating to calm your mind and bring your thoughts internal, rather than being worried about everything external. If you like guided meditations, we’ve got plenty!

5. Working on improving your diet. We know that when people are stressed their diet decisions are generally very poor and limited to things that are convenient. Make healthy food a priority and read our article 9 Foods You Should Eat The Moment You Feel Stressed.

6. Reducing your technology use… and turning those email notifications off when you finish your work day!

7. Conscious breathing. Yes, we all breathe, but being conscious about your breath and making time to take nice deep breathes will change your mood and your body’s interpretation of what’s happening in your environment.

8. Finding a practice that relaxes you and do it often. Whether it’s yoga, surfing, painting or running, whatever it is that you enjoy and enables you to take your mind off things that stress you, make it a priority and enjoy it often. 

Source : Food Matters June 2019 

Reproduced with the permission of the Food Matters team. This article by JAMES COLQUHOUN  was originally published at www.foodmatters.com/article/stress-epidemic

Important:
This provides general information and hasn’t taken your circumstances into account.  It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person. 

Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author.

Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.