A common misconception is that financial advice is all about achieving investment returns, but we beg to differ.
While investing and investment returns are important, in our experience they are far outweighed by the strategic and structural advice we provide that achieves significant financial outcomes and tax efficiencies for our clients.
Our 7 ‘wealth fundamentals’ are designed to deliver outstanding financial outcomes whatever your age and stage of life, even for our most financially savvy clients.
You can benefit significantly from good quality financial advice.
Our ability to improve financial outcomes is based on years of experience, our genuine understanding of your financial and lifestyle goals and a holistic approach to align all aspects of your financial fundamentals.
#1: Income Planning – making the most of your circumstances
Competing financial priorities or poor financial habits may be preventing you from getting ahead, but you might be surprised what a difference a little help can make. Even a modest capital investment can significantly build your wealth over time. Whether you are starting out in your career managing escalating expenses such as your mortgage, vehicle leases, personal loans, credit cards, supporting a growing family and school fees, or building an income stream other than from paid employment to support you in retirement, there are strategies that can help you to better manage your income.
By understanding your financial commitments and long-term objectives, we can use real life scenarios, such as amending loan repayments or considering the use of offset accounts or redraw facilities, to help you make more informed financial decisions and set realistic goals to aim for. Other strategies to help you make the most of your income may include conducting a review of your expenses, prioritising your debts, protecting your income or identifying tax efficiencies through collaboration with other aligned professionals.
#2: Investment Planning – building income streams beyond employment income
Whether you are a first time investor looking for long-term growth, or a seasoned investor seeking a passive income stream, we can assist you with bespoke investment planning tailored to your stage of life and risk appetite. It is through understanding your ‘big picture’ financial goals that we are able to add the most value when it comes to investment planning.
At Wealth Fundamentals we align your investment planning with your overall financial goals. We have access to specialist advice and through collaborations with investment researchers and financial analysts we are able to seek insights into the most appropriate investment options which may include Australian and international shares, managed funds, cash and property.
#3: Debt Management – using your debt to get ahead
We may even be able to help you to use your debt to get ahead. By understanding your debt situation we can outline the impact of debt on your financial position both now and in the future. Through the use of scenarios, we are able to identify strategies which can help you improve your cash flow in the short term; use your debt to generate income through purchasing assets (shares, managed funds, investment properties); prioritise your debts; or identify methods to fund aged care such as reverse mortgages.
By collaborating with other aligned professionals such as your accountant, we may also be able to identify tax efficiencies or address more tax-effective ways of structuring your debt to align with your personal circumstances and overall goals.
#4: Risk Planning – protecting your lifestyle
Effective risk planning is so much more than implementing insurance policies and we can present you with a range of “what-if” scenarios to help you understand your protection needs. We offer a complete service which, over and above the affordability of premiums, considers policies that are appropriate for your stage of life, level of responsibility and overall financial position.
Perhaps the most important aspect of using a financial adviser comes when you are at your most vulnerable. In the event of a claim, we will coordinate the entire claim process on your behalf, including contact and negotiation with the insurer, preparing claim documentation and mediating any disputes - so you may receive the full benefits to which you are entitled.
#5: Retirement Planning – creating a retirement of choice
Our goal is to empower your decision making to help you achieve the self-funded retirement lifestyle of your choice. Effective retirement planning should start early and help you understand how much you will need to achieve your retirement goals as well as the longevity of your savings.
Planning should include strategies to create passive income streams, superannuation strategies which consider contribution caps, opportunities for salary sacrificing and other tax concessions. Further, we can help you identify the most appropriate superannuation vehicle based on your needs of flexibility, investment choice, insurance coverage and estate planning requirements.
#6: Planning for Aged Care – understanding the financial consequences
Transitioning from the family home to aged care can be emotionally and financially draining and can often involve a number of family members, including adult children assisting ageing parents or relatives. While you, or a loved one, may never require Aged Care services, it’s important to note that aged care planning is extremely complex and unexpected events may mean arranging aged care can be urgent.
Seeking financial advice for aged care planning is vital as there can be enormous financial consequences associated with decisions about aged care. Our role is to assist you in understanding how nursing home fees and daily living and medical expenses can be paid for and the financial impact associated with decisions such as selling the family home to fund expenses or transitioning into aged care as a couple or an individual.
#7: Estate Planning – creating wealth protection and a legacy for your family
A well-considered estate plan is central to protecting those you love from claims on their inheritance, or loss of entitlements due to inadequate planning for tax and/or asset protection structures. Estate planning should be integrated at every stage of your life, incorporating your changing needs for your legacy after you have gone, such as distributing insurance benefits for young adults through to distributing accumulated wealth in your later years, or establishing structures to manage complexities including preserving wealth through claims on inheritances for blended families or providing a secure financial future for minors or adult children with a disability.
Estate planning needs to incorporate your personal insurance, investment and superannuation strategies. Acting as central coordinator with your solicitor and accountant, we can help you develop a fully integrated estate plan and appropriate structures which account for all aspects of your life, family and obligations.
Financial advice is not a one-size-fits-all commodity and everyone has different financial goals requiring unique financial strategies. Your strategies should never be ‘set and forget’ but adjusted to align to your stage of life, the greater macro-environment and your personal circumstances. Changes in your circumstances can have enormous impacts on your financial situation.
Don’t miss out on the advice you need, it could change your financial life for the better. If you would like to know more about the seven fundamentals to help create financial independence, I encourage you to contact us now on 07 3720 1299 or email admin@wealthfundamentals.com.au
Lane Moses Pty Ltd ABN 56 092 186 117 trading as Wealth Fundamentals and its advisers are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306. This is general advice only and does not take into account your objectives, financial situation or needs, so you should consider whether the advice is relevant to your personal circumstances. You should also read the relevant Product Disclosure Statements (PDS) before making any financial decisions.