Event recap
Insights into the Economy, Behavioural Finance, and Retirement Planning
Clients and advisers from across the region gathered for the annual joint financial event co-hosted by Isla Grey Financial Advice, Thompson Wealth, and Phillips Wealth Partners. The event was designed to provide education and insights into the current economic climate, behavioural finance, and retirement planning strategies.
Principal Craig Phillips opened the session with a warm welcome, acknowledging the traditional custodians of the land and expressing gratitude to the organising teams and sponsors, including Allianz Retire+. “We are here to entertain and educate,” Phillips said. “Tonight is about understanding the financial landscape and how it affects each of us personally.”
Below is a summary of the presentations and key takeaways from the evening.
Economic Outlook: Navigating Uncertainty with Perspective
Presented by Brian Parker, Chief Economist, Australian Retirement Trust
Brian Parker delivered a comprehensive and engaging analysis of the global economic landscape. He outlined the complexities of forecasting in an environment shaped by geopolitical instability, shifting trade policies, and inflationary pressures. Despite these challenges, Parker emphasised Australia’s relative resilience and the importance of maintaining a long-term investment perspective.
Key Takeaways:
- Forecasting remains difficult due to unpredictable global trade dynamics, particularly those influenced by United States policy decisions.
- Australia is comparatively well-positioned, supported by diversified trade relationships and a robust superannuation system.
- Long-term investment strategies are essential, particularly for superannuation funds managing assets over multi-decade horizons.
“Crises are inevitable, but every downturn comes to an end. There is always a light at the end of the tunnel—and it is not a train,” Parker remarked, reinforcing the importance of patience and perspective in investment planning.
Behavioural Finance: Understanding the Psychology of Money
Presented by Dr. Katherine Hunt, Managing Director, Identical Consulting
Dr. Katherine Hunt offered a thought-provoking session on behavioural finance, exploring how personality traits and cognitive biases influence financial decision-making. Drawing on psychological research and relatable examples, she encouraged attendees to reflect on their own behaviours and how these impact their financial outcomes.
Key Takeaways:
- Self-awareness is critical in financial decision-making; understanding one’s impulse control and optimism levels can lead to improved outcomes.
- Decision fatigue affects financial behaviour, making automation and structured planning valuable tools for maintaining consistency.
- Financial compatibility between partners can reduce conflict and enhance long-term planning success.
“Your financial planner is not with you on a Wednesday morning at the supermarket. What matters is your choices—and knowing yourself,” Hunt said, highlighting the importance of personal responsibility and behavioural insight.
Retirement Planning: Building Confidence Through Flexibility
Presented by Chris Borg, Business Development Manager, Allianz Retire+
Chris Borg concluded the presentations with a practical and forward-looking discussion on retirement planning. He addressed demographic shifts, legislative changes such as the Retirement Income Covenant, and the psychological barriers that prevent retirees from spending confidently. Through a case study, Borg illustrated how combining income sources can create a more secure and adaptable retirement strategy.
Key Takeaways:
- Regret risk is real—many retirees later wish they had spent more in their early retirement years.
- Diversifying income sources, including superannuation, age pension, and lifetime income products, can enhance financial stability and reduce reliance on any single stream.
- Flexibility in retirement planning is essential to accommodate changing circumstances and ensure peace of mind throughout retirement.
“You do not want to be hamstrung by the fear of running out of money. Retirement should be about living with confidence,” Borg stated, advocating for proactive and personalised planning.
Panel Q&A: Optimism, Inequality, and Artificial Intelligence
The event concluded with a lively panel discussion moderated by Sarah Hardy of Isla Grey. Questions from attendees covered a range of topics, including Australia’s position on inequality, the emotional weight of financial planning for younger generations, and the role of artificial intelligence in energy and infrastructure.
One attendee asked whether Australia’s interest in becoming a global hub for battery power and data storage was a strategic move. “If your industry thrives on cheap green energy, Australia should be a winner,” Parker responded. “We just need to get on with it.”
Another participant, reflecting on the long road ahead, asked whether there was reason for optimism. “I am in my twenties,” they said. “I have 45 years of work ahead. Is there anything to be optimistic about?”
Dr. Hunt responded with a global perspective: “Forty years ago, people lived under plastic roofs. Now, corrugated iron is common. The tide has risen—and we should be proud.”
Parker added, “We underestimate the innovative ability of the human race. Crisis creates opportunity. We have solved problems before, and we will do it again.”