Wealth creation
Wealth creation is about building financial security now so you can focus on enjoying your lifestyle in the future. Choosing where and how to invest your money is a difficult decision and will depend on many factors including your overall investment objectives, approach to investment risk and the amount of time you have to invest.
We can help define your personal situation and recommend financial solutions and strategies to help you reach your financial goals.
Whether you are investing to finance your business, lifestyle, private education or provide for your retirement, it's never too late to take control.
Retirement planning
Planning for retirement is one of life's most important financial considerations. The actions you take today will determine your lifestyle in the future.
Superannuation is one of the most tax-effective long-term retirement savings vehicles, however it can be difficult to keep up with changing rules and regulations. We can explain the rules and provide you with strategies to help you maximise your retirement savings.
Risk insurance
Risk insurance forms a critical part of the financial planning process. It provides you with protection against the financial implications of an event such as death, disablement, serious illness or injury.
There are a range of insurance options available that we can tailor to suit your needs and personal situation. The most common types of risk insurance include:
Income protection
In the event that you suffer an illness or injury and are unable to work, income protection provides you with a monthly benefit of up to 75 per cent of your salary.
Life Insurance
Life insurance helps alleviate the financial burden your family may be left with after your death. This is paid as a lump sum to your nominated beneficiaries to assist with medical costs, funeral expenses and help maintain your family’s lifestyle.
Total and permanent disability (TPD)
This provides a lump sum in the event of a total and permanent disability that prevents you from ever returning to work.
Trauma
Trauma insurance is paid as a lump sum upon diagnosis of an eligible condition (eg cancer, heart disease).
Business insurance
Advice and direction on Business Protection insurance including Business overheads insurance.
Age Care Advice and Planning
Planning for aged care can be a stressful time, but early planning and good advice can help minimise the stress and avoid some of the pitfalls for you and your family. We can help you understand the care options available to you, the cost associated with these options and the best way to structure your finances to pay the right level of care for you. Our role is to provide you with the right information and best advice so informed choices for your future care, security and happiness is achieved. We can translate the Aged Care jargon and the rules into a clear plan for you to follow.
With advice you may avoid some of the mistakes we see people make:
- Not understanding the costs and options available to them
- Not understanding the stages of care that is available – Support at Home (formerly referred to as Home Care Packages), Respite Accommodation
- Forgetting to plan ahead for changes after entry
- Giving Services Australia/Centrelink the wrong information and paying too much in fees
- Being afraid to pay a refundable accommodation deposit (RAD)
Self-managed super funds
Self-managed super funds (SMSF) gives you control of how your superannuation benefits are invested, operated and managed. SMSFs allow you to invest in a range of assets such as shares, managed funds, term deposits, property, art and collectables. You also have the option to borrow to purchase property and shares.
While SMSFs are a compelling structure for those who want full decision making capabilities, having your own fund can generate a mountain of paperwork, such as looking after the establishment, asset administration, super administration, investment strategy and end of year financials.
As well as assist you with the establishment of an SMSF, we provide you with ongoing strategy, investment, insurance and estate planning advice for your SMSF and can provide assistance to other superannuation professionals in relation to asset administration, super administration and end of year financials.
Business succession planning
Advice and guidance on establishment of Business Succession Planning. In partnership with your legal counsel or one of our panel solicitors, we offer a comprehensive service that provides business partners an exit plan tailored to the individual’s and family needs.
Business Insurance Policy Ownership Structures that we can advise on;
- Self Ownership of each policy
- Cross Ownership of policies by partners
- Individual policies owned by each person’s discretionary trust
- Insurance Trust
Debt reduction strategies
Advice on debt consolidating strategies such as using under performing assets to reduce debt. Debt elimination strategies such as using your super to pay out the home loan where possible.
Taxation structures
Developing appropriate tax effective investment strategies. Structures (ie. companies, trusts, superannuation and pension vehicles). Financial planning advice with regard to payments received upon redundancy or termination of employment. Retirement tax management including making maximum use of the available tax concessions including Spouse Contributions, Spouse Rebates and the Government Co-Contribution.