Link to IWP's January 2026 Update (PDF) Market Update

Markets have started the year on a steadier footing, with equity markets rebounding after a softer end to last year, while geopolitical developments add a layer of uncertainty without materially disrupting markets so far.

In this month's discussion, Andrew and Chris unpack the key issues influencing markets and portfolio positioning:

• Equity markets have opened the year reasonably well following a weaker finish to last year, with January activity picking up as investors return from the holiday period
• Geopolitical tensions involving Venezuela and Iran, alongside renewed unpredictability from Donald Trump, have increased headline risk, though market impacts have remained relatively muted to date
• Oil prices remain a key watchpoint, with any escalation in global tensions potentially feeding through to higher energy costs and renewed inflation pressures
• In Australia, inflation has eased from prior peaks but remains above the RBA's target range, while stronger-than-expected consumer spending suggests parts of the economy may be reheating
• The RBA faces a finely balanced outlook, with improving sentiment and spending weighed against ongoing cost-of-living pressures and the risk of further inflation persistence
• In the U.S., attention is turning to tensions between Trump and the Federal Reserve, including scrutiny of Jerome Powell, raising questions around central bank independence and future rate policy
• Portfolio strategy remains unchanged, with no short-term adjustments in response to current news flow, reinforcing a disciplined, long-term investment approach
• Diversification and broad market exposure continue to be emphasised, with expectations that returns will broaden beyond a small group of high-profile tech and AI stocks over time
• Overall, the message remains consistent: stay the course, avoid reacting to short-term noise, and remain focused on long-term fundamentals and diversified portfolio construction.

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Link to IWP's October 2025 Update (PDF) Monthly Market Update

Markets have experienced a modest pullback this month as uncertainty rises across global economies, though underlying fundamentals remain resilient.

In this month's discussion, Chris and Brigitta explore the key themes shaping markets and investor sentiment:

• After a strong six-month run, equity markets have softened slightly, reflecting mixed economic signals and increased caution from investors

• The RBA has kept the cash rate on hold, with inflation edging higher and labour-market conditions needing to soften further before any additional rate cuts are likely

• Spring property activity has picked up, supported by improved sentiment and the government's 5% deposit scheme for first-home buyers

• In the U.S., the recent government shutdown has ended, but delayed data releases and reduced consumer confidence have added short-term uncertainty

• Global tariff tensions remain elevated, with the U.S. and China maintaining a fragile truce that continues to influence market volatility

• AI-related stocks, including Nvidia and the broader "AI seven," have delivered strong returns but now face questions around high valuations and heavy investment spending

• Despite short-term movements, diversified portfolios continue to be well positioned, with long-term structural themes guiding investment decisions rather than short-term market noise As always, we highlight the importance of staying diversified, disciplined, and focused on long-term outcomes.

Should you prefer this in video form, please head to IWP YouTube

In this episode of Freedonomix, we sit down with Andrew Brown — Senior Financial Adviser at Independent Wealth Partners, CPA, CFP®, and someone whose career has been shaped by a simple idea: numbers matter, but people matter more.

Andrew shares the story behind his journey — from his early life and career foundations, to discovering that financial advice wasn't just a profession, but a pathway to genuinely helping people create clarity, confidence, and choice in their lives.

We talk about what drew him to financial advice, how his grounding as a CPA and CFP® shapes the way he supports clients, and why he finds deep purpose in using his technical skillset to serve others. You'll hear thoughtful reflections on life, money, family, challenges, and the moments that cemented his belief in the value of great advice.

It's an insightful, human conversation with one of the key advisers at IWP — and a reminder that behind the spreadsheets and strategies are real stories, real families, and real impact.