Meet our clients living the ‘healthy wealthy happy’ life today
What were their challenges?
Clare had previously received bad financial advice and was receiving a compensation payment. Current investment advice implemented had not achieved her long term goals. From her previous financial advisery firm she was passed on from adviser to adviser yearly and not properly serviced for the high fees they charged. She had also accumulated high credit card debt as a result of advice not tailored to her specific situation. Clare is self employed so needed provisions for down times or work breaks.
What did they overcome?
Trusting your financial adviser is key. Clare learned to trust in my financial advice and now has a plan that covers her whole situation. By stopping the accumulating credit card debt and recognising the large expenses in her budget which when reduced helped her save more.
Once the plan had been implemented she was able to sleep better at night not worrying about her large investment debt and got to her property purchase goal faster than she could have hoped or expected.
How did I help?
Initially, we put in place a cashflow strategy that aligned with her budget and provided information tracking on how she was doing each month. This kept her on track and got her credit card paid off each month in full.
We eliminated her outstanding credit card debt and dissolved the unsuitable investments to give her a clean slate.
Creating a regular savings plan and the establishment of insurances that were more tax and cashflow effective set her back on track. This cleared the path to set her personal financial goal to purchase property and calculated the servicing costs.
We are looking to facilitate a new home loan later in the year.
What did they learn that I can share?
Doing the simple things consistently well can make a big difference in the long run. While growing her investment was important, cashflow & budgeting was the key to her financial management with being self employed. Tax strategies should be secondary not the primary reason for choosing an investmen
HOW WE HELPED IN PARTICULAR
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The amount of super you’ll need when you retire depends on your big costs in retirement and the lifestyle you want. The Associate of Superannuation Funds of Australia (ASFA) estimates for a single $44,224 a year and for couples $62,562 a year is how much you may need. This is only an indicator and our advisers assess everyone’s individual circumstances.
The fees we charge for financial advice is only a fraction of the value we derive for our clients, meaning our clients are always better off after seeing us. Rarely do we encounter a new client invested appropriately for their needs, with adequate risk protection, structuring and estate planning provisions in place. Even small tweaks to a financial plan over a long period of time can result in drastically better outcomes for our clients which eclipses the fees of the financial advice. Additionally, you can opt-out of an ongoing fee arrangement at any time.
In our discovery meeting with you our advisers discuss the initial advice fee and the ongoing fees associated with our services.
After our initial phone call to discuss why you are seeking a financial adviser, we arrange a discovery meeting that outlines what is important to you, your current position, our areas of advice, our approach. We then present a Statement of Advice (SoA) to discuss your goals and our recommendations and go through the steps of how to proceed to the implementation stage. After signing the SoA, we discuss your questions, get you to sign the authority to proceed and complete any application forms before implementing the recommendations detailed in the SoA.
One thing to consider is the interest rate on your home loan in comparison to the rate of return on your super fund. Before making a decision, it’s also important to weigh up your stage in life, particularly your age and your appetite for risk. Whatever strategy you choose you’ll need to regularly review your options if you’re making regular voluntary super contributions or extra mortgage repayments. As bank interest rates move and markets fluctuate, the strategy you choose today may be different from the one that is right for you in the future
We know the impact of good holistic financial advice can make and we have the life experience, technical capability and quality support team that can make that difference for you. We’ve empowered over 1000 families through the delivery of great financial advice, to be healthy, wealthy and happy.
We believe the true value of financial advice isn’t found in dollars and cents (although this is important too!) but in the peace of mind a financial plan can provide. It’s knowing where you want to go and how to get there, with a dedicated team behind you every step of the way.