DelphiNews September 2013

Welcome to the September edition of Delphi Financial Management's newsletter.

I’m pleased to enclose the latest edition of Market Update.

Global economic data last month pointed to an upturn in growth for most advanced economies.

The US economy showed signs of recovery with an increase in GDP seen in the June quarter. While the growth was only modest, it was still above expectations. Employment was also a key stand-out, as the US unemployment rate declined further.

On the home front, the September election saw the changing of the guard, with Tony Abbott now Prime Minister elect.

The Reserve Bank of Australia left the cash rate unchanged at its September meeting, while the lower interest rates continue to boost the property sector.

MLC's Portfolio Manager, Ben McCaw reviews events in Australian and Overseas markets during August in the latest edition of the Economic Update. In regard to the outlook for financial markets, MLC remains on the cautious side.

For those clients with investments managed by MLC, this is just a quick note to let you know that MLC is conducting their “MLC Customer Survey” later this year.

MLC is one of the companies that provide products or services to some of Delphi's clients as part of their financial plan, and this survey is used to improve their products and services to customers.

You may be asked to participate in the 10 minute survey, which is totally up to you. A Q&A on the Survey provides further details.

This survey is being undertaken by an independent market research company, Fifth Quadrant. Please be assured that this is a legitimate survey that meets all industry standards for privacy. If you would like more information, please visit the http://www.mlc.com.au/customersurvey/ or contact me on 1300 167 826.

The latest version (7.0) of Delphi's Financial Services Guide (FSG) is enclosed for your information.

The FSG covers the requirements under the Australian Financial Services Licensing (AFSL) regime. The FSG provides information about Delphi, myself and our Licensee. There are also details about our Privacy Protocols and Complaints Procedure. Please contact us should you have any questions regarding the FSG.

As always please contact us if you have any questions regarding the information contained in this edition of DelphiNews or if you or a family member would like to review their current investment strategy.

Regards

Vince Dore

Director

Vince Dore and Delphi Financial Management Pty. Ltd are Authorised Representatives of GWM Adviser Services Limited ABN 96 002 071 749, trading as Garvan Financial Planning/MLC Financial Planning an Australian Financial Services Licensee, Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia group of companies.

This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial and tax and/or legal advice prior to acting on this information. The material contained in this newsletter is based on information received in good faith from sources within the market, and on our understanding of legislation and Government press releases at the date of publication, which are believed to be reliable and accurate. Opinions constitute our judgement at the time of issue and are subject to change. Neither, the Licensee or any of the National Australia group of companies, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this email.