TAG – Still Open for Business!

Sunday’s state government ‘roadmap to recovery’ announcement has outlined a strict and lengthy pathway to re-opening. For TAG, this means our team will continue to work remotely. However, rest assured we will still remain virtually ‘open for business’!

Our team are available to be contacted as usual, and we will remain available to you to address any questions. Please do not hesitate to contact us with any concerns.

Here are some of the changes we have put in place to ensure that our client’s needs are still met:

We are actively monitoring and responding to all emails. If you can email us your query, please do so at team@tagfinancial.com.au.

Our office phone is being diverted to our friendly team and our business hours remain as normal (Monday to Friday, 9am to 5pm). If our phone does go to voicemail, please leave a message so we can get back to you.

Scheduled meetings with clients and suppliers are being carried out either via telephone or video conference. Our friendly team are happy to help you set up for virtual meetings should you need any assistance.

We have limited access to mail during this time which will delay our response time. Please email where possible or contact us to discuss alternatives to mail.

Please scan and email documents where possible instead of mailing. If you need any help with documents, please contact us.

We ask that invoices are paid through our online portal, go to: https://www.tagfinancial.com.au/pay-my-invoice

We understand that these are challenging times for everyone. The actions we have taken will ensure we continue to deliver a great level of service to our highly valued clients, whilst also minimising any risk to the health and wellbeing of our team and clients.

We will continue to update you regarding our working arrangements in line with future government updates.

If you have any questions, please contact us on 03 9886 0800 or via email.

We wish everyone the best of health during this difficult time.

Disclaimer: The information contained is general in nature. Professional advice should be sought before acting on any aspect on this page. Financial planning services provided by TAG Financial Advisors Pty Ltd (ABN 77 154 205 017 AFSL 415632), a wholly owned subsidiary of TAG Financial Services Pty Ltd (ABN 67 075 374 686). Copyright 2020. Please do not reproduce without the expressed written consent of the author.

Westpac (WBC) Bank Share Offer

Westpac Bank (WBC) is seeking to raise money via a Share Purchase Plan to strengthen their balance sheet, support customer growth and provide an increased buffer above the regulator’s specified capital requirements.

As a current shareholder, you are able to purchase up to $30,000 worth of shares at the lesser of:
• $25.32 per share; OR
• 2% discount to the average price in the 5 business days before the offer closes on 2 December 2019.

The current share price (at time of writing – 13 November 2019) is approximately $26.50 per share.

So if you applied for say $10,000 of shares (assuming the $25.32 price is applied), you would receive 395 more shares and the benefit to you would be $1.18 per share or $466 (based on current share price).

We have sought advice from one of our preferred brokers – Bell Potter on behalf of our clients. They have provided the following comments:


“Given the margin contraction of the banks, and the limited growth we anticipate from them in the coming 12 -24 months we can’t make a blanket participate / do not participate for clients. It’s really determined by the clients preference for income.”

The offer closes on Monday 2nd December 2019 at 5.00pm.

If you wish to participate you need to follow the instructions on the Application Form and make payment using the options provided.

However, for clients that hold their shares via other investment platforms – you will need to provide instructions by 5.00pm Friday 22nd November 2019.

Please email us by then if you wish to proceed with the value of shares you would like to apply for (up to $30,000).

Given the minimal likely benefits of the transaction and Bell Potter’s indifferent view of the banking sector, we will not be contacting clients directly, however we welcome your call if you wish to discuss how this specifically affects you. No transaction fees will apply if you take up the offer.

Finally, please note you are not guaranteed to receive shares to the value you applied for – the offer may be scaled back at Westpac’s discretion which means you would receive less shares and a partial cash refund.

More information

For more information about the offer, please follow the link to the Share Purchase Plan booklet issued by Westpac.

OR speak with one of our advisers;

Leigh Jobling
Investment Advisory & Wealth



Michelle Griffiths
Investment Advisory & Wealth



Should you have any queries, please do not hesitate to via email or phone 03 9886 0800.

Disclaimer: Please note we have not taken your individual circumstances into consideration. Whether this investment decision is appropriate for you will depend on your personal circumstances and we encourage you to seek advice before acting on this information. Given the minimal likely benefits of the transaction and Bell Potter tepid view of the banking sector we will not be contacting clients directly, however we welcome your call if you wish to discuss how this specifically affects you. No transaction fees will apply if you take up the offer.