Financial Planning Penrith

Financial Planning

Our Financial Services

Over the past few years, quite a few of my clients have asked if I could help them with their personal and business related financial planning needs.  The demand for financial advice has grown and so to has our team, resulting in the appointment of Brad Read* to the role of Senior Financial Adviser (Financial Planning and Personal Risk Insurance).

Consequently, our range of client services has been extended to now include all aspects of financial planning:

  • Personal Financial Planning
  • Personal Risk Insurance
  • Home and Commercial Loans
  • Self Managed Super Funds
  • Business Estate Planning
  • Business Insurance

Our service model is based around helping you to create a secure financial future. No matter what your situation is, whether you are in the workforce, a business owner, about to retire, or already retired, we have the expertise to help you optimise your personal finances and achieve your long term financial and lifestyle objectives.

Our Services Include:

Personal Financial Planning

Retirement Planning

If you are about to retire or already retired, we can help you arrange your finances to ensure you build a retirement income which is reliable and tax effective... and which should last for your lifetime or longer.

We can show you how to pay little or no tax on your lump sum; and if you own a business or farm we can show you how to reduce or even eliminate tax on its sale.

In addition, we can help you arrange your finances so you maximise Centrelink benefits if that is appropriate for you.

Superannuation Planning

We will review all of your superannuation arrangements to check if they will ultimately satisfy your retirement goals.  In particular, we will assess the following:

  • Are you on track to retire with enough money to fund your desired lifestyle - for your entire retirement?
  • Is your superannuation fund performing to expectations?
  • Is the asset allocation appropriate?
  • Are you employing the right fund managers?
  • Are you contributing enough to super this year?
  • Are you taking full advantage of the new rules for super?
  • Should you make contributions for your spouse if they are not employed?
  • Are there other tax effective strategies you should be using?

We can also advise you on all aspects of Self Managed Superannuation if that is appropriate for you.

Investment Planning

If you have a lump sum to invest or you wish to invest regular savings or superannuation contributions, we can advise you on asset allocation, investment strategies and security selection.

We can advise you on direct and managed investments in Australia, and managed funds overseas, to help you generate competitive returns with less risk... and in so doing help you achieve your financial goals.

Redundancy Planning

We can help you invest your payout to meet your short term needs, as well as for providing for your eventual retirement. We can also develop investment strategies to help you qualify for Centrelink benefits (if this is appropriate for you) and to minimise tax on your payout and your income.

Wealth Planning

We can help you develop investment strategies to build wealth prudently and tax effectively to help you become financially independent... and to provide a more financially secure retirement.

In addition, we can assist you in creating financial efficiencies with your mortgage, as well as protecting your financial position with the help of personal insurances.

Estate Planning

We can advise you on how to arrange your financial affairs to ensure there is an efficient and tax effective distribution of your estate after your death. We can help you to properly fund your estate and show you strategies which can save tax for your beneficiaries and minimise the chance of your Will being challenged. We can also advise you on how to protect your estate from being eroded by your beneficiaries being subject to litigation, bankruptcy or divorce.

Personal Risk Insurance

Protecting your financial position with the help of risk insurance is an essential strategy for most people. Risk insurance can provide financial assistance in the event of you or your spouse suffering serious illness or injury, or death.

Personal risk insurances to consider include:

  • Life insurance - pays a lump sum on the death of the insured.
  • Income protection insurance - replaces your income if you are unable to work due to sickness or injury. It provides a monthly payment of usually up to 75% of your pre-tax income. You can generally choose the waiting period (this is how long you must be unable to work before the insurance begins to pay you) and the benefit period (how long the policy will pay you if you are unable to work).
  • Trauma insurance - pays you a lump sum on the diagnosis of a specified non-pre-existing illness or injury, generally including heart attack, stroke, cancer, and paraplegia. This can be taken as a stand alone policy, or attached to a life insurance policy.

This insurance was created when it was realised that medical advances were resulting in patients increasingly surviving major health problems, but that the financial cost of survival was prohibitively high for patients (e.g. medical costs, medicine, time off work, rehabilitation etc). In other words, patients didn't lose their lives... they lost their life savings instead.

Home and Commercial Loans

We have access, through our close relationship with Australian Unity, to the home and commercial loans offered by more than 20 banks and other leading lenders. This means we can find the right loan for you. In addition, we'll help you complete all the paperwork and assist you in assembling the documentation required by the lenders.

Home Loans

Paying off your home loan sooner starts with having the right home loan. We'll research the banks and other reputable lenders on your behalf to ensure you have a competitive interest rate with reasonable lender fees, and ensure you are not paying (in the form of higher interest rates) for 'bells and whistles' you'll never use.

We can also advise you on other strategies which can help you to save a lot of money by accelerating the reduction of your debt.

Commercial Loans and Leases

We can assist you with all business loans at highly competitive rates from banks and other reputable lenders. These loans include:

Saving For Retirement

  • Business loans for:
    • New business investments
    • Working capital
    • Existing loans restructuring
    • Business expansion
  • Acquisitions
  • Purchase of equipment
  • Purchase of motor vehicles
  • Equipment finance and leasing
  • Motor vehicle leasing
  • Debtor finance
  • Commercial property finance
  • Property development.

Self Managed Superannuation Funds

A key objective of a self managed superannuation fund is to allow flexibility of investment options that cannot be achieved through traditional industry superannuation funds.

We can review your existing fund to check it is performing adequately in all critical areas:

  • Investment returns
  • Risk profile
  • Fees
  • Reporting
  • Choice of asset allocations
  • Member education.

Self managed superannuation funds that use the services of A Grade Tax, typically have the added benefit of a lower administration fee structure when compared to industry funds, particularly where member balances exceed $100,000.

Business Estate Planning

Business estate planning is the process of arranging your business affairs now to ensure there is no unnecessary deterioration or loss of continuity in your business should it lose you or one of the other owners or other key people through illness, injury or death.

It should also give the continuing owners the right to buy the interests of the deceased or disabled owner, and ensure that the departing owner or their estate will be fairly compensated for giving up their rights to the business. In this way, a business estate plan provides all owners and their spouses and families with legal certainty should the unforeseen occur.

Your business estate plan is also concerned with ensuring your business has the financial resources to fund the plan.

We can help you create an estate plan which will ensure you and your business will be financially cared for should the unexpected happen.

Buy/Sell and other business insurance

When it comes to business estate planning, the two big questions you need to ask yourself are:

'Would your business be able to buy a departing owner's share of the business if they died or suffered a serious illness or injury?' And:

'Would your business be able to cover the loss of revenue and goodwill, and re-pay the debts of the business, if an owner or other key person died or suffered a serious illness or injury?'

If your answer is no to one or both of these questions, you need to consider transferring that financial risk to life insurance companies. They have a range of insurances which can help you fund your business estate plan and give you enormous peace of mind - all for a fraction of the sum insured each year.

Business insurances worth considering include:

  • Buy/Sell insurance - pays your business a lump sum if you or one of your partners dies or suffers a serious illness or injury.
  • Key person insurance - Pays your business a sum of money to offset the estimated financial loss to the business should an owner or other key person die or suffer a serious illness or injury.
  • Business expenses insurance - pays some of your business' expenses if you are unable to work due to illness or injury. Expenses are generally covered for up to 12 months and typically include rent, loan repayments, leasing costs, and utility costs.

Our job is to research the major, reputable insurance companies to find the insurances which provide your business with the right level of protection, including the definitions, clauses and exclusions which best suit you and your business. Of those insurances which meet your needs, we obtain quotes to ensure we recommend the most cost-effective products for your business.

Our Financial Services Partner

We offer financial planning and associated services through a partnership with Australian Unity.

This alliance with Australian Unity enables us to offer a wide range of services in areas including personal and business superannuation, investments, insurance and finance, and ensures we have full access to the research, administration and other services only a major financial institution can afford, while still allowing our practice to stay small enough to provide friendly and personal services to our clients.

As you may know, Australian Unity is a major financial services institution with a heritage dating back to 1840 of helping Australians to secure their financial futures.

* Brad Read M Prof Acc, Grad Dip PFP is an authorised representative of Australian Unity Personal Financial Services Limited (ABN 26 098 725 145) AFS Licence No. 234459, 114 Albert Road, South Melbourne, VIC 3205

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