The purpose of Strategic Financial Advice is to help you manage your financial resources optimally to achieve financial security, achieve your objectives and lead your desired lifestyle.
Our experience shows that the demands of modern life mean that many individuals neglect their own personal financial arrangements. They are aware that their finances could be more effectively structured, however they lack the time and sometimes the expertise to plan the necessary changes and are simply unable to keep up to date with the frequent changes to superannuation and tax rules and regulations.
Impartial Advice has nothing to do with Financial products. It is about implementing appropriate financial strategies to meet your needs. We believe our Strategic Advice is valuable and should be paid for. We do not bundle strategic advice into a package with Investment Management. A client has no obligation to use any of our other services once they have been provided with strategic advice.
The process of delivering Strategic Financial Advice is a follows:
1. We conduct a strategic review of your current resources
This includes your current assets and liabilities as well as your income and expenses. Establishing your savings capacity is an essential component of good advice.
2. Identifying your Goals
- What are the things that are important to you?
- Your short and long term income requirements.
- Growing your personal wealth and achieving a certain level of assets.
- Funding future expenses (such as education, business purchase, new home or holiday house).
- Reduce the amount of tax you are paying.
- Managing and Reducing debt.
- Make your investment and superannuation assets work harder for you.
- Preparing for retirement- When can you afford to retire?
- Protecting your family financially in the event of illness, sickness or pre-mature death.
- Protecting your assets and accumulated wealth.
- Planning your Estate.
3. Strategy Assessment and Selection
After having a clear understanding of your current position as well as your goals, we make clear strategic recommendations.This could include recommendations in any of the following areas:
Cash Flow Management
- Where you should you stream your surplus cash flow?
- Can you maintain your current lifestyle and still meet your goals?
- Are your existing bank accounts and services still appropriate?
- Can you reduce your debt faster?
- Do you need to be geared to achieve your goals?
- Can you transition your debt from non-deductible to tax deductible?
- Debt consolidation and restructuring.
- Are your existing debt facilities still appropriate?
Retirement Planning and Superannuation
- When can you afford to retire?
- What will my income in retirement be?
- How long will my money last?
- How much investment risk do I need to take?
- Can we move investment assets into the tax effective superannuation environment?
- Superannuation contribution strategies including salary sacrifice.
- Is my superannuation fund appropriate or is there a better way?
- Should you set up a Self Managed Super Fund?
Tax Planning and entity structuring
- Employee Share and Option plans.
- Should the majority of my assets be in my name or my partner’s name?
- Salary Sacrifice.
- Salary Packaging.
- Do I require a Family Trust or Corporate structure to better manage tax?
- Capital Gains Tax planning.
- Ex patriot tax issues.
- Tax Compliance.
Risk Management and Asset Protection
- Is my current insurance cover sufficient or insufficient?
- Can I now afford to self-insure?
- Can my family maintain their lifestyle in the event of my illness, injury or premature death?
- Succession planning.
- How can I protect my assets from creditors or litigation?
Estate Planning and Asset Protection
- How can I protect my assets from ex-partners or creditors of my beneficiaries?
- Have I specifically nominated how my super is distributed – or will the fund trustees decide?
- Who will control my assets and income if I become incapacitated?
- Philanthropic service.
4. Selection of Strategies and Implementation
Once you have been presented with our recommended strategies in the form of a written Statement of advice we can implement the strategies on your behalf or assist you with the process.It is only at this stage where our other services such as Portfolio Construction, Administration and Ongoing Review Services may need to be accessed if applicable.