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HQB’s Weekly SMSF News – Week 10

Diversification – what does it mean?

  1. Diversification is the opposite of ‘all your eggs in one basket’.
  2. A SMSF that has a mix of investment types (e.g. cash, shares, property) could be said to be diversified, particularly if the investments are spread within those categories e.g. investing in 20 different shares, rather than picking 1 or 2.
  3. A SMSF that is invested in a single rental property is not diversified.
  4. There is no requirement to have diversification in your SMSF, but it is generally accepted that diversification lowers risk.
  5. A SMSF that isn’t well diversified needs to include specific commentary in its investment strategy.

-James Davis

Posted 25.10.2022

This article is compiled as a helpful guide for your private information and is subject to copyright. We suggest that you do not act solely on the basis of material contained in this article because items are of general nature only and may be liable to misinterpretation in particular circumstances. We recommend that our advice be sought before acting on any of these crucial areas.

What Our Clients Say

I have worked with James and David as well as Brianna from HQB for the last 18 months and can highly recommend their services. They provided us with all of the financial and auditing expertise we required , including successfully assisting us on a variety of specialist / niche questions. Our year end audits and grant acquittals were run very efficiently, on time and within budget.
Nikki Campbell
Nikki Campbell
03:23 22 Nov 24
I have used many accounting firms throughout my years in business and I can say, hand on heart, Catherine is one of the best Accountants I have ever used!Cath is extremely thorough and very knowledgeable, her attention to detail is unwavering and I cannot recommend Catherine and her Team highly enough.
The Emerald Minecart
The Emerald Minecart
07:08 25 Sep 24
Everyone I dealt with at HQB was lovely and helpful, especially Amelia. The process was easy and less stressful than I had anticipated. Highly Recommended!
Bonnie Earle
Bonnie Earle
02:33 04 Aug 23
Brad has been integral to the development and growth of JMS Allied Services. The service provided by Brad and the team at HQB is a unmatched.
JMS Allied Services
JMS Allied Services
04:55 28 Jul 23
A huge thank you to James and HQB for so willingly and efficiently completing the audit for CWA Bellingen Branch finances. We appreciate your work and generosity very much. It's so encouraging to have businesses such as yours contributing to the work of community organisations such as CWA. Thank you!
Bill & Robyn Hawkshaw
Bill & Robyn Hawkshaw
05:20 21 Oct 22
James, Brianna and the HQB team are amazing. Always answer my questions promptly and guide me in running my business. Highly recommend.
Kylie Dean
Kylie Dean
23:42 18 Sep 22
We had been with our previous accountant for over twenty-five years, leaving them was a hard decision. However, the transition to HQB was done professionally and with ease by Brad Sheaves and his team. We have not regretted the move at all. We receive regular contact from HQB and this contact is not just a broadcasted newsletter e-mail, but telephone calls and correspondence from Brad. His advice is concise, relevant to our situation and very appreciated. Highly recommend Brad Sheaves and the HQB team.
Glenys Whitfield
Glenys Whitfield
00:46 07 Sep 22
Rachel was amazing, so professional and made the whole experience an amazing experience definitely be back next year
Marcus Develyn
Marcus Develyn
02:56 18 Jul 22
HQB have been providing accounting services to our family for a long time and they are always prompt, efficient and thorough. The advice given has been a great help. Thank you HQB.
Bob Prater
Bob Prater
06:01 30 May 22
Outstanding service, sorted out my complicated setup and gave me peace of mind.I had great experience with HQB, no problems at all.Thank you
Hamish
Hamish
07:22 21 Apr 22
Great service! Came recommended through a friend! Would definitely recommend.
steve hanley
steve hanley
23:20 16 Mar 22
I was referred to James & the HQB team around 2016. James has been fantastic - always available when advice is sought, explains options clearly and moves quickly when I request documents in most unreasonable timeframes. It's also comforting dealing with someone who has local knowledge is very much part of the community. I have no hesitation recommending him and the team!
Mindy
Mindy
06:49 07 Feb 22
I have been with HQB since ACSM was merged...so long ago i cannot remember. Their service has always been good and this has been elevated to excellent since James Davis took over my account. He is super sharp, good at listening and prompt in response to enquiries. I recommend HQB.
Paula Fursman
Paula Fursman
22:54 01 Feb 22
I met James Davis from HQB about 6 - 7 years ago when we were looking for an accountant that would suit our needs better and provide the advice that would steer us into the future.At the time I sat in front of James and fired so many questions, scenarios, future plans etc and James did not bat an eyelid. There was no let me get back to you on that one, or good questions I will check the current legislation, it was a variety of questions that led to us setting up a structure that has allowed us to grow with absolute confidence we are structured appropriately.This relationship has grown from strength to strength and i would have no hesitate to refer anyone to HQB as I am confident they will have the exact same experience and get the advice they need when they need it.Thanks for the amazing service guys and quality advice.
Daniel McCarthy
Daniel McCarthy
03:12 31 Jan 22
I found the team relaxed but very professional. All work was conducted in a correct and timely manner. Communications from Brad and this team are of a high standard and they follow up.You get great prompt service at what seem to be standard industry charges
Darryl Tebbutt
Darryl Tebbutt
05:58 07 Jan 22
HQB accountants are the best. They have pointed things out to me that my previous accountant didn't. They got me set up and straightened out all my accounts to ensure I was complying with with regulators. I now know my accounts are in good order. Would recommend to those who like to sleep at night knowing someone has got your back!
Paula Berti-Duncan
Paula Berti-Duncan
00:53 29 Nov 21
James Davis and the team are great to work with.We are very happy with the service and value.THANK YOU
Philip Wilson
Philip Wilson
02:57 23 Nov 21
As a business owner, I love using HQB for my accounting maters. It makes life much easier. They are professional and supportive, allowing me to focus on the business.
Adrian Betts
Adrian Betts
21:30 18 Nov 21
HQB are the best accountants I have worked with in more than thirty years of business. We transitioned from a small one person accountant to a large accountancy firm, where we got lost amongst the bigger businesses with deeper pockets and louder voices, and charged like there was no tomorrow. HQB is the perfect middle ground where we get excellent and up-t0-date advice but treated and cared for as an SME with growth potential. The personal service is amazing. The advice we get even better. VERY HIGHLY RECOMMEND!
Sales Rider
Sales Rider
23:57 15 Nov 21
Have been dealing with James and his team for the past few years.Always a quick response with a helpful answer.You definitely have my YES vote in business.Thanks for the assistance
Robert Brunnekreef
Robert Brunnekreef
09:19 15 Nov 21
HQB is an excellent accounting firm, we have worked together for over 20 years now. I cannot recommend them more highly and James Davis offers a very personal and professional service, second to none. Great communicators and are always available promptly with support and advise.
Dan Maher
Dan Maher
01:05 15 Nov 21
Have been working with James from HQB for the last couple of years - and only have good things to say. Very responsive, offers support where needed and hangs back in other areas that we can manage ourselves. Best accountant we have worked with - makes it a breeze, which is what you want when working on the paperwork.
Kevin Doye
Kevin Doye
00:42 15 Nov 21
Great service, nice and easy to deal with, fast on jobs. 5-star business for sure!
Felix Wong
Felix Wong
00:39 15 Nov 21
James and the team at HQB are always helpful in what has been a very busy approx 2 years in Covid conds, well done!!
Richard Welch
Richard Welch
23:47 14 Nov 21
Ian and his team are the best. Thanks HQB.
todd armstrong
todd armstrong
05:07 08 Nov 21
I'm really enjoying the personalised touch and service I'm receiving from Ian and Siarn. Always prompt, professional and happy to answer my silly questions and help me stay informed. I've been a client of Bill's and HQB for about 20 years. Since Bills retirement he passed me on to Ian and the quality of the service just seems to keep getting better. HQB comes highly recommended by me.
Trent Allen
Trent Allen
03:43 25 Jun 20
We highly recommend the team at HQB. We are a Sydney based business, and we find the team highly professional, responsive, and just a pleasure to deal with. They are very proactive and we feel as though we are a valued client. Well done to Brad Sheaves and team HQB !
Alastair Fysh
Alastair Fysh
04:31 25 May 20
HQB accountants have been an asset to our business. They have made Job Keeper a breeze and kept our business strong. They respond to emails quickly. They have been terrific value for us as they have brought knowledge and expertise that I don't have even if I had the time to do my accounting. They have taken the time to understand my business and structure our finances accordingly.
Kyle Maloney
Kyle Maloney
06:19 22 May 20
Amazing service from James (& Brianna), going well above his responsibilities to his clients. Cannot recommend James highly enough. HQB a highly professional and responsive accounting firm. Incredibly quick at responding, yes, often after hours, which is more than we would ever expect from any professional. I am continually recommending James to friends and family. Many thanks James. Kind regards, Lyn (& Jeff) Green
Jeff Green
Jeff Green
01:02 17 May 20
James became our Accountant last year and he has handled all our entities swiftly and pro actively. We are incredibly impressed with him and HQB and feel very comfortable in their hands to manage our Business. James is always prompt in replying and sometimes out of hours and his handling of our recent predicament with COVID 19 has helped us manage our Business successfully through this trying time. Thank you James and the team at HQB. We will always recommend you highly,.
Pandora Colledge
Pandora Colledge
01:36 15 May 20

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