Today I wrapped up the last of my end-of-year client review meetings. This is my favourite time of year as I tie up the final reviews and reflect on how my clients have been progressing towards their goals.

The end-of-year review meeting is always the most fun because it allows you to pause, celebrate achievements, acknowledge challenges, and most importantly, plan for the future. As their adviser, I have the privilege of helping them quantify their progress and set intentions for the coming year in terms of what they wish to achieve with their wealth.

The value of having well-thought-out, quantifiable goals always strikes me at this time of year. I find it immensely satisfying to witness my clients making significant strides towards getting what they want from their wealth — goals which aren’t always about simply accumulating more wealth. One of the fun parts of my job is to help clients make their wealth meaningful to them. I listen to them and help them define what is important to them. We work together to figure out what they really want to achieve with their wealth. From significant philanthropy,  starting new businesses, to sitting on the beach, each family is unique, and it reflects in their goals.

All of that said, on reflection, it was a pretty easy year in terms of investment returns this year. Markets performed far better than I had anticipated. The US was a standout, particularly in the tech sector, though Australia also fared well (with banks leading the charge).

I don’t think 2025 is going to be so kind. The markets dummy spit yesterday, following the Federal Reserve’s suggestion that they may not cut rates as many times as hoped in 2025, highlights the heightened expectations. It doesn’t take much to disappoint. I’ve been in the “higher for longer” camp for some time now, and I see no reason to change that view. That said, only time will tell, but my best guess is that 2025 will be a bit of a wild ride.

Thank you to everyone who has read and supported my newsletter. It has been a pleasure to write, and I’ve had the opportunity to connect with some wonderful people and engage in thought-provoking conversations through this platform. So, thank you to all of you who’ve reached out. Now it’s time for a well-earned break and to spend time with my family. I’ll be back on the 6th of January to see what 2025 has in store!

Kind regards,

Shelley Marsh
Outsourced Chief Investment Officer (OCIO) & Founder
Wealth Differently

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