Meet our clients living the ‘healthy wealthy happy’ life today
What were their challenges?
Phoebe is a time poor single Mum, that just knew she needed to do more with her money. She had some equity in her home, but little else when we first started working together. She was too busy at home to invest too much time in a personal wealth plan.
What did they overcome?
Initially we put in place a strong financial plan, capitalising on the equity in her home, accumulated savings and her ongoing savings capacity. We established a plan that would allow Pheobe to move out of her home and live in an area that was closer to friends, more affordable and consistent with the lifestyle she wanted for her daughter Lucy. This step allowed her to acquire another investment property and she will now be in a position to purchase her dream property by the sea in seven to ten years.
How did I help?
By giving initial financial advice, helping to implement it, stay on track, and tweak the plan as required. We were also there to support her decision making when she was close to buying an asset on the Sunshine Coast, as she had fallen in love with the area, and ultimately coached her into acquiring an asset in the Eastern suburbs that has performed much more strongly, and in line with the financial plan.
We have meetings to adjust things and re-evaluate what’s important, we are her sounding board and ensure that at all times she has the confidence that she and Georgia know their future is secure.
What did they learn that I can share?
Over the last ten years, Phoebe has invested consistently into shares and property and has not sold. She now has three investment properties that are moderately geared, a cash buffer to protect her in the event of illness or emergencies, and she also has a managed account portfolio that’s into six figures (and without debt). She continues to grow her net worth and provide herself with long-term choices by regularly investing in her portfolio, salary sacrificing into superannuation, steadily repaying her debts and can balance the long-term with some short-term fun.
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.