Financial planning

Financial planning is fundamentally the process of designing and implementing a plan of action in relation to your financial affairs. Financial plans can be specific to one asset or strategy, for example paying off debt or saving for retirement, or can be all encompassing.

A comprehensive financial plan addresses all areas of current and future financial matters that influence your financial wellbeing. It is recommended for the majority of clients, as it ensures that all areas of financial concern and importance are addressed.

What we consider:

The key to effective financial planning and advice is a thorough investigation and understanding of your individual financial position, personal objectives and financial goals. A successful financial plan is the result of an effective partnership between you and us, from the beginning and over your lifespan.

The following is a guide of what may be examined in a comprehensive financial plan:

  • Cashflow analysis, including sources of income and all regular, impending and lump sum expenditure
  • Risk analysis and risk / return fundamentals
  • Asset and investment analysis, including asset allocation and rationale for recommendations
  • Debt planning and management
  • Access to funding and the necessity to plan for unforeseen emergencies and / or one-off expenses
  • Income producing investments, including income replacement in retirement and to supplement income
  • Asset accumulation for future needs, including education funding, asset upgrade or replacement, future lump sum expenditure and retirement planning
  • Retirement funding, including superannuation / SMSF and income stream planning
  • Wealth accumulation, including a regular savings regime and gearing strategies
  • Taxation considerations, including the benefits of income splitting, imputation credits, superannuation and income stream treatment and remuneration planning
  • Social security eligibility, including family benefits, pensions and allowances
  • Risk management, including health insurance, asset protection, income replacement insurance, medical trauma cover, premature death cover and business insurance planning
  • Estate planning, including wills, powers of attorney, trust structures and tax payable upon death

A regular review of the recommendations is then vital to ensure the suitability of the plan in the event of changing circumstances.

We detail all fees and charges payable for the implementation, maintenance and review of the financial plan.