By now you will have been affected in one way or another by COVID-19. It is one of the most challenging situations the global community has faced in modern history. Protecting the health and wellbeing of our people and their families, our clients and members and the community remains our number one priority. Advice regarding the evolving COVID-19 situation is being regularly updated by the Federal and Victorian Governments and we are using this information to review and adapt to the changing environment and to ensure our decision making is sound and appropriate.

LBW currently have no known cases of COVID-19. The LBW office remains open and our people remain available to support our clients during these difficult times. From the information currently available, we are planning for operations to continue, although this may look different to what it looks like today.

Here's what you need to know:

  • LBW APROACH TO CORONA VIRUS – OUR PEOPLE + OUR CLIENTS
  • STIMUMLUS PACKAGE SUMMARY
  • LBW COMMITMENT TO HELP CLIENTS

LBW APROACH TO CORONA VIRUS – OUR PEOPLE + OUR CLIENTS

Self quarantine
Where one of our people returns from overseas, has had contact with someone who has or is suspected of having COVID-19 or has symptoms of COVID-19 we are requesting they work from home for a self quarantine period of 14 days. Anyone who is feeling unwell will need to stay away from the office until recovered.

Meetings and events
We are minimising face to face meetings in our office and are instead encouraging our people to connect with each other and our clients in a different way. We are looking at conducting meetings over the phone, conference calls or using video conferencing facilitates. We have also taken the decision to defer any pre-arranged functions to a later date.

Working remotely
We are fortunate to have strong internal systems that support our ability to work remotely and in a flexible manner if required. We are currently trialing some working from home options with our people to ensure the business can continue to operate if we are forced to close down. As a valued LBW client we want you to know that we care about you and your business and we are here to help you during this challenging and unprecedented time. The Australian Government last week released an economic stimulus package to help combat some of the issues businesses will be facing right now. A summary of this package is outlined below:

Self-employed clients, and those who receive a significant component of their gross earnings via bonus or incentive payments, should have their policies reviewed by their advisor with urgency as pending insurance changes confirm that new Agreed Income Protection policies will not be available post 31 March 2020

Agreed Income Protection benefits provide certainty that, in the event of a claim, clients will receive the monthly sum insured they are paying for. Typically, employed clients with stable incomes are well-protected by Indemnity Contracts however this is not necessarily the same for self-employed clients or those who receive larger bonus payment. The concern for these clients has always been that they may suffer an illness or injury at a time when they are experiencing a financially lean year, causing them to receive a lower monthly benefit.

Clients with an Agreed Contract are protected. Their policies will continue, and they will be in control to retain, increase or decrease cover at any time.

The team at LBW Business + Wealth Advisors want you to be properly protected, so act now and give us a call to discuss.

Cathryn WallyThe LBW Principals are delighted to announce the appointment of Cathryn Walley within the SMSF division to Associate Principal, effective 1 January 2020. We are so proud to welcome Cathryn and her diverse background, experience and skills to the leadership team. This appointment is in support of our growth agenda for the wealth management area following our acquisition of the Bendigo Bank’s Geelong West Financial Planning business earlier in the year. Importantly it shows our commitment to developing leaders from within. We continue to focus on partnering with our clients as they develop and grow their businesses and support them to be financially secure in their retirement.

Cathryn has been with LBW for 10 years and brings over 20 years of experience in the accounting, SMSF and financial planning areas. She has a drive for the Geelong region and enjoys helping families achieve their retirement plans and dreams by supporting them with their super and wealth needs. Congratulations Cathryn on this significant achievement.