Meg's Musings March | Part 2

18 Mar 2020

Meg Heffron

Managing Director

We are certainly living through challenging and unprecedented times.

Like every other business watching the COVID-19 situation play out, Heffron is imagining the unimaginable and making sure we are well prepared for every eventuality. For the first time in over 20 years of business I am somewhat relieved that our regional location, susceptibility to floods and existing high level of flexible work means we are already accustomed to working in a vast array of ways! Nonetheless, we are monitoring the situation and adjusting what we do and how we do it constantly. We don’t intend to continuously update our clients with news on the latest changes as we expect the situation is not helped by filling your inbox with updates about us. But if you have any concerns, please reach out to your usual Heffron contact person.

More broadly I’m concerned for our clients. Trustees are seeing their retirement savings damaged. Advisers who were already under acute pressure brought on by regulatory changes and their own need to adjust work practices to accommodate COVID-19 are now bearing most of the burden of helping trustees through share market falls. Accountants who have looming SMSF lodgement deadlines may well be experiencing a loss of productivity at just the wrong time.

We currently have a stream of work dedicated to exploring ways to help alleviate the stress. Unfortunately we don’t have a team of medical experts who can produce a vaccine for the virus or investment miracle workers who can halt the share market slide. But we do have people who can help with any SMSF issue you face.

You will soon see new initiatives to bring more of our training online, provide online tools that can help your staff who are working remotely and trial some new ideas like free online SMSF clinics for professionals. If you can think of anything more we should do, please contact us directly – we’d love to hear from you. In the meantime, we will focus on continuing our high level of support creating technical content for you and your clients.