Version 8 – 1 November 2024
We can confirm that we are an Independent Financial Advice provider and have no conflicts or other relationships that may impact our Independence in providing financial advice services to you.
This FSG will help you decide whether to use the services that we offer. It contains information about:
We are authorised to provide general advice, personal advice and
dealing services in the following areas:
When you become a client of Allied Wealth, we act on your behalf.
The objectives and personal circumstances of each client are different. Where we provide personal advice, we will seek to understand your objectives and circumstances for our advice to be in your best interests.
Our initial advice on suitable financial strategies will be provided in the form of a written Statement of Advice (“SoA”) which you can take away and read. The SoA will explain the basis of our advice, the main risks associated with the advice and the cost to you of implementing the advice.
This part of the FSG – about MDA Services – is prepared pursuant to ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968.
The above outsourcers provide a custodial service and are regulated by ASIC. As an MDA provider we do not provide custodial or depository services related to the MDA services, in accordance with RG179.166(a).
Fees and other costs
The following table shows fees and other costs that you may be charged. These fees and costs may be deducted from your money, from the returns on your investment or from the assets held within the MDA service agreement. You should read all the information about fees and costs because it is important to understand their impact on your investment.
In relation to your portfolio we manage for you we advise the following fees and costs will be incurred in the normal course of business
| Type of fee or cost | Amount | How and when paid |
| Fees when your money moves in or out of the portfolio | $0 | Not applicable |
| Establishment fee The fee to open your portfolio | $0 | Not applicable |
| Contribution fee The fee amount contributed to your portfolio | $0 | Not applicable |
| Withdrawal fee The fee amount you take out of your portfolio | $0 | Not applicable |
| Exit fee The fee to close your portfolio | $0 | Not applicable |
| Management costs | ||
| The fees and costs for managing your portfolio by Allied Wealth | $0 | Not applicable |
| Additional fees and costs for managing the investments in the MDA portion of your portfolio (if applicable) | Assets Under Management rate 0% | Not applicable |
| Admin fees to Platforms for MDA portion on a sliding scale (if applicable) | $0 - $250,000 0.36% - 0.32% Plus $250,001-$500,000 0.20% - 0.22% Plus $500,001-$1,000,000 0.10% - 0.12% Plus $1,000,001-$2,500,000 0.04% - 0.05% Plus $2,500,001 and over 0.00% | The fees are deducted from your platform account. |
In relation to your portfolio we manage for you we advise the following fees and costs will be incurred in the normal course of business
| Type of fee or cost | Amount | How and when paid |
| Account keeping fee to Platforms | $180-$360 per account per annum | |
| Service fees | ||
| Switching fee The fee for changing portfolio options | $0 | Not applicable |
| Extra services you request maybe be at a time cost | $500 + GST per hour | Paid when service requested |
The advice preparation fee includes meeting with you, the time we take to determine our advice and the production of the SoA. It is based on the scope and complexity of advice provided to you. We will agree the fee with you before providing you with advice.
If you decide to proceed with our advice, we may charge an implementation fee for the time we spend assisting you with implementation. We will let you know what the fee will be in the SoA.
Our annual fees depend on the services that we provide to you. We will charge a flat fee for service which is generally paid monthly and agreed with you on an annual basis.
In limited circumstances, we may provide one- off services and charge a fee at an hourly rate. This will be discussed with you prior to engagement.
In some circumstances we may provide services to you as a wholesale client. We will seek your consent before providing services to you as a wholesale client.
We avoid conflicts of interest including the receipt of commissions. Where we receive commissions, we will rebate this to you within a period of not more than 90 days. We do not retain any commissions.
We act only for you as our client and not for any product issuer or financial institution. We have no financial relationship with any product issuer or financial institution.
At all times you are able to contact us and ask questions about our advice and the products we recommend. You can provide instructions to us in writing, via phone or via email. In some cases, we may require you to provide signed instructions.
Where we receive or pass on a referral to another professional we note that there are no referral fees or any other sort of payment made. As noted above we act only for you.
We endeavor to provide you with the best advice and service at all times. If you are not satisfied with our services, then we encourage you to contact us. Please call us or put your complaint in writing to our office.
If you are not satisfied with our response, you can refer it to the Australian Financial Complaints Authority. You can contact AFCA on 1800 931 678 or via their website www.afca.org.au. This service is provided to you free of charge.
We believe we have put in place compensation arrangements (via maintenance of professional indemnity insurance and adequate financial provision for any policy excess) that are adequate having regard to the size, nature and complexity of our business.
We believe that these arrangements are sufficient for the purpose of meeting our compliance obligations under section 912B of the Corporations Act.
We are committed to protecting your privacy.
We have a Privacy Policy which sets out how we collect, hold, use and disclose your personal information. It also sets out how you can access the information we hold about you, how to have it corrected and how to complain where you are not satisfied with how we have handled your personal information.
Our Privacy Policy is available on request and on our website.
When it comes to planning your financial future, it can be hard to know where to start. Navigating the complexities of wealth management and withdrawal plans on your own can make retiring feel more stressful than it needs to be. That’s where a retirement financial advisor comes in.
The role of a retirement financial advisor is to offer specialised guidance to help you navigate your journey to retirement.
Our experienced advisors at Allied Wealth are committed to helping you ensure a secure retirement and achieve your long-term financial goals. In this blog post, we'll explore various facets of their role, including foundational financial strategies, wealth management, retirement preparation, and estate planning.
Wealth management encompasses a range of financial services designed to help families manage their assets effectively and efficiently.
Wealth management goes beyond basic investment advice. It also includes comprehensive financial planning, tax strategies, estate planning and more. The goal of wealth management is to ensure you have the financial resources you need to maintain your lifestyle, meet your financial goals and ensure a comfortable retirement.
A retirement financial advisor plays a crucial role in that process. They work with you to create a personalised plan, offering expertise tailored to your specific financial status and goals. They can also help you navigate unexpected life changes and develop strategies aligned with your long-term objectives.
Financial advisors are tasked with understanding a client’s unique financial situations, goals and risks to create a tailored retirement plan. Some key responsibilities of a retirement financial advisor are:
By offering these services, financial advisors can help their clients plan and prepare for retirement and maximise their financial future.
Personalised retirement financial planning is essential as everyone’s financial situations, goals and risk tolerances are different. Personalised planning addresses each client’s:
Contact our experienced team of retirement financial and aged care advisors today for personalised retirement planning services tailored to your needs.
When it comes time to retire, financial advisors provide several essential services:
When searching for a financial advisor to support you with your retirement planning, there are some key factors to consider. The first is experience. Look for advisors with retirement planning experience to ensure they’re suited to your unique needs.
It's also important to consider client reviews when choosing a financial advisor. Reviews can help you ensure that your advisor comes highly recommended and is a good fit for you.
You should also make sure that their communication style and approach align with your personal preferences. As an independent financial advisor, Allied Wealth can provide unbiased financial advice tailored to suit your needs.
Interested in learning more? Get in touch with our experienced team of financial advisors here and start your journey to a comfortable retirement with one of the most trusted wealth management companies in NSW.
When it comes to planning for retirement, there is no one-size-fits-all approach. A good advisor offers personalised advice tailored to individuals' circumstances, values, and goals. At Allied Wealth, our advisors help clients understand the principles of financial planning for retirement and provide valuable guidance as they embark on their journey to financial security.
At Allied Wealth, our team of experienced financial advisors is dedicated to helping you on your wealth-creation journey. That’s why we’ve created this comprehensive guide to wealth management for you to follow.
Wealth management looks different for everyone. As one of the most trusted wealth management companies in NSW, we’re committed to helping you on your wealth-building journey. Whether you’re just starting out, building a family, getting ready for retirement, or wanting to build your investment portfolio, our expert guidance can help you make a significant difference.
Wealth management is more than managing investments. It’s a comprehensive approach to organising and growing your assets, recognising and addressing your financial needs, and holistically budgeting and saving.
Effective wealth management is important because it allows you to achieve your financial goals, manage risks and prepare for the future by optimising growth. With our tailored investment strategies and the right financial planning, you can effectively manage your wealth and achieve your financial goals.
One of the best strategies for wealth management is a strong headstart. Entering adulthood is an exciting time, but it can also be difficult to know where to start regarding personal finances. Building a strong financial foundation early on sets you up for long-term success.
As your family grows, so do your financial responsibilities. If you’re looking at starting a family, it’s important to adapt your wealth management strategies. There are multiple ways to do this, but here are our suggestions.
Focused early retirement financial planning ensures you can maintain your lifestyle and financial security. Some key steps to take when preparing for retirement are:
Planning is an important part of wealth building, but we cannot plan for everything. Life is full of surprises, and it’s important to factor this into your wealth-building strategy.
Changes such as marriage, divorce, and career shifts can impact your financial situation. To navigate these transitions, consider reevaluating financial goals, revising your trust and beneficiaries to align with your current situation, and seeking professional advice to create a personalised plan.
Creating a plan for how your wealth will be transferred to future generations is an important step in your wealth management journey. Leave a legacy behind and set your loved ones up for success. Speak with one of our independent financial advisors to create a personalised plan tailored to suit your needs and your family’s financial goals.
Wealth management is a lifelong process that will change as your needs and goals change. Your financial plan should be created and revised frequently to factor in any significant life changes.
At Allied Wealth, we understand the principles of wealth management and can create a tailored financial strategy to suit each stage of your life. Whether you’re just starting out or planning your legacy, speak to our experienced team of financial advisors today to create your plan for a better future.
Get in touch with us here and meet your new ally in wealth management.
In an era where consumers are increasingly conscious of the ethical implications of their choices, investment is no exception. Ethical investing is a way to align your financial goals with your personal values while also minimising risks.
At Allied Wealth, our Independent Financial Advisors play a crucial role in guiding investors through the complex landscape of financial investing. That’s why we’ve created this comprehensive guide to ethical investing to support you on your investment journey.
Ethical investing, also known as socially responsible investing (SRI) or sustainable investing, is the process of making investment decisions based on ethical considerations. Some super funds offer sustainable options for customers looking to invest for retirement.
As one of the most trusted wealth management companies in NSW, Allied Wealth helps you understand the details. From retirement financial planning to personal financial advice, we give you the knowledge you need to make sense of how your money is invested.
Some key principles to understand when discussing ethical investing are:
Some practices to consider when addressing these key principles are:
Financial advisors are the bridge between you and the world of investing. Our experienced financial advisors work with you to help you make sense of the investment landscape and make informed decisions that align with your goals and values.
When seeking ethical investment opportunities, here are a few factors to look out for:
A common concern among investors is whether ethical investing compromises financial returns. It’s important to understand that ethical investments can perform well over time as long as companies with strong ESG practices demonstrate resilience and sustainable growth.
Companies with robust government and ethical practices may be better at managing risks. This can positively impact their financial performance. There’s also a growing demand for ethical investments, which can lead to increased opportunities and potentially enhance returns as the market evolves.
Like anything, there are pros and cons when it comes to ethical investing. Some common dilemmas you may encounter are:
Ethical investing allows you to align your financial decisions with your values, but it requires careful consideration and guidance. Our experienced team of financial advisors can help you understand the principles of ethical investing, identify suitable opportunities and navigate the ethical dilemmas that may arise.
By working with a trusted advisor at Allied Wealth, you can take control of your financial future and invest in a way that reflects your values while delivering financial success.
If you’re interested in exploring ethical investing and want expert guidance tailored to your values and goals, get in touch with us here at Allied Wealth. Our financial advisor can work with you to build a portfolio that not only seeks financial growth but also makes a positive impact on the world.
Taking control of your financial future can feel overwhelming at times. There are numerous decisions to make, from investments to retirement savings, and navigating these options can be tricky.
Whether you want to manage your wealth more effectively, reduce your stress, or get clear and unbiased advice, there are several key reasons why you should consider professional financial advice.
In this article, we’ll explore five good reasons for working with an independent financial advisor in Australia.
Have you ever found yourself unsure about which financial decision is best for your situation? There are so many options, from picking the right superannuation fund to deciding where to invest in the stock market, that most of us feel like we're in choice paralysis.
A financial advisor helps you cut through the noise to make confident, informed choices by breaking down your options in a way that makes sense. They help you understand risks, rewards, and potential outcomes so you feel empowered to make decisions that best serve your future.
By working with an advisor, you avoid the confusion of researching complex financial products.
We all have people who offer financial advice in our lives – friends, family, co-workers, and even influencers online. While their intentions may be good, their advice isn’t always objective or suited to your needs (sometimes it’s simply misguided). That’s why wealth management companies may prove invaluable—they provide an impartial perspective based on your unique financial situation without the emotional baggage that personal relationships can bring.
Advisors don’t push you in any direction based on their own experiences. Instead, they use their knowledge and expertise to guide you toward decisions that align with your goals, not someone else’s.
By staying neutral, a financial advisor ensures you make decisions that serve your financial interests—not anyone else’s.
Managing your financial future takes time. Whether you're researching different investment options, reviewing retirement plans, or trying to understand tax rules, the learning curve can be steep. On top of that, making the wrong decision can be costly. This is where financial advisors save the day.
Financial advisors handle the heavy lifting for you, taking care of the research, comparing options, and finding strategies that save you both time and money. They know how to help you avoid costly mistakes that can set you back financially. With their help, you can rest easy knowing that your finances are being handled efficiently and that you're maximising every dollar.
Imagine the time and effort saved by having someone else do the legwork while you reap the benefits of informed decisions.
Money can be a major source of stress for many people, especially when it comes to making big decisions like investing or preparing for retirement. Financial advisors can help ease that burden by providing guidance and a clear plan to follow. They help you manage risks, and their experience allows you to confidently navigate uncertain times.
By working with a financial advisor, you can feel more secure knowing that a solid strategy is in place. They guide you through market fluctuations, help you avoid risky investments, and keep your financial future on track.
When you have a trusted advisor in your corner, managing your finances doesn’t have to be a constant source of anxiety.
At the end of the day, one of the biggest reasons to seek financial advice is to improve your overall financial standing. Your financial needs will also evolve as your life changes—whether through a new job, family growth, or nearing retirement. A good financial advisor can help you adjust your financial strategy accordingly, ensuring you stay on track to meet your long-term goals.
Whether you’re looking to build wealth, save more effectively, or start your retirement financial planning, a financial advisor offers insights to help you get ahead. They work to improve your current financial position and ensure that you’re prepared for whatever the future may hold.
With their expertise, financial advisors can help you improve your financial health today and set you up for success in the future.
At Allied Wealth, we specialise in providing personalised financial advice that helps you achieve your goals. Whether you’re planning for retirement, looking to invest wisely, need an SMSF advisor, or simply trying to make sense of your finances, we’re here to help.
If you're ready to start taking control of your financial future, contact us at Allied Wealth today. Let us help you make informed, confident decisions about your wealth.
Planning for retirement is one of the most important steps you'll take in your financial journey.
For many Australians, superannuation forms an enormous part of that plan.
But knowing how to navigate super, and choosing the right advisor to guide you, can feel overwhelming.
Let’s explore how you can make the right decisions about maximising your super and selecting the perfect financial advisor in Australia.
Superannuation is a retirement savings plan where your money is invested and allowed to grow until you are ready to retire. It’s much more than just a savings account, though—it’s an ongoing, living investment for your future.
Super funds invest in various areas on your behalf, such as shares, property, and bonds, allowing your money to grow over time. The better your investments perform, the bigger your retirement nest egg will be.
A good independent financial advisor can help you navigate the complexities of superannuation and ensure you’re on track for a comfortable retirement. They can provide insights into your investment options, tax strategies, and how much you need to save to meet your retirement goals.
They will also regularly review your super and adjust your investments so you can take advantage of market changes and maximise your returns. However, the real value comes from their personalised advice based on your unique situation, risk tolerance, and retirement timeline.
To make the most of your superannuation, use strategies that can boost your retirement savings over time. Experienced wealth management companies will suggest different approaches to optimise your super and ensure it works as hard as possible.
Beyond superannuation, many financial advisors offer various services to help you manage your finances.
Working with a financial advisor can give you access to the expertise you need to achieve your financial goals, from investment advice to retirement income strategies.
Many types of superannuation funds are available, and choosing one that best suits your needs is important. Your financial advisor can help you decide which fund is right for you, considering factors like fees, investment options, and performance.
The relationship with your financial advisor is one you will come to rely on, so take the time to find someone you trust and feel comfortable with.
Here are some tips to help you choose the right advisor:
At Allied Wealth, we believe in providing personalised, unbiased advice to help you achieve your retirement goals. Whether you’re looking to maximise your superannuation, plan your estate, or simply make better financial decisions, we’re here to help.
If you’re ready to start planning for your future, contact us at Allied Wealth today to learn more about how we can help you maximise your retirement savings.
As you settle in to prepare for your retirement, you will encounter a lot of questions and concerns that only the right financial advisor will be able to answer.
After all, retirement is a significant life milestone, and making the most of your financial resources can make a world of difference in your comfort and security.
But how do you choose the right advisor to guide you through this journey?
In this article, we will explain everything you need to know to find the best retirement financial advisor in Australia.
One of the most important things to check before considering wealth management companies is whether they hold an Australian Financial Services (AFS) licence. Holding an AFS licence is not just a formality; it’s a legal requirement in Australia for anyone offering financial advice on investments, superannuation, or retirement planning. It ensures that the advisor operates under strict guidelines and has met the qualifications to guide you.
You can verify this by checking the Financial Advisers Register. It’s a quick process that gives you peace of mind, knowing that the person you trust with your financial future is fully qualified.
Having a licensed advisor means they are obligated to work in your best interest. It’s like having a safety net that ensures you’re receiving advice from someone who knows the ins and outs of financial regulations and practices in Australia.
Before searching for retirement financial planning services, take some time to determine exactly what you want from them.
Are you looking for help with superannuation? Do you need someone to guide you through investment strategies? Do you just need to figure out how much you'll need for retirement?
Clearly outlining your needs will help you find an independent financial advisor who specialises in the areas that matter most to you. Some financial advisors may focus on investment management, while others offer a more holistic approach to overall financial planning.
Knowing what you need will help narrow down your options.
By defining what you want, you’ll make it easier to find the right advisor and give them the necessary information to tailor their advice specifically to you.
Every licensed financial advisor must provide you with a Financial Services Guide (FSG) before offering advice. Within this document, they will outline their services, fees, and how they manage conflicts of interest. It’s a key resource in determining if they’re the right fit for you.
Take the time to read the FSG carefully. It should explain what products they can advise on, their qualifications, and any affiliations that could affect their advice. Don’t hesitate to ask questions if something isn’t clear. The FSG should also include information on making a complaint if things go wrong, which is an important aspect of choosing a trustworthy advisor.
If you don’t feel comfortable with the FSG’s outlines, it may be a sign that you should keep looking for another advisor.
The cost of financial advice varies widely depending on the services provided. Some advisors charge a flat fee, while others may take a percentage of your managed assets or charge by the hour. Understanding how fees work and comparing them ensures you're not overpaying for the services you receive.
Ask for a breakdown of the costs upfront. Make sure you're clear on whether the fees are one-off or ongoing. This will help you budget accordingly and avoid any nasty surprises. It’s also worth checking if the advisor works on commissions, which could influence their recommended products.
While cost is an important factor, it shouldn’t be the sole determinant. A more expensive advisor with a strong track record might save you money in the long run compared to a cheaper option that may not be as experienced.
Retirement planning often involves giving your advisor access to manage certain aspects of your investments. Before you commit, take steps to feel comfortable with the level of control they will have over your financial assets.
Some advisors may have direct access to make trades or adjustments on your behalf, while others may offer advice and leave the final decisions up to you. Ensure you know your advisor's access level and that it aligns with your comfort level.
If you're uncomfortable giving up too much control, look for an advisor who takes a more collaborative approach.
Choosing an advisor whose approach matches your preferences will give you peace of mind, knowing your investments are safe.
At Allied Wealth, we understand how important retirement planning is to your future. Our team of independent financial advisors has decades of experience helping Australians prepare for retirement with confidence. Whether you need help with superannuation, tax strategies, or investment management, we’re here to guide you every step of the way.
Our retirement and aged care financial advisors pride themselves on offering transparent, commission-free advice that puts your interests first. Our flat-fee structure ensures you’re never caught off guard by hidden costs, and we take the time to understand your unique financial situation before tailoring a plan to meet your retirement goals.
Contact us today to learn more about how we can help you secure a comfortable retirement.
Approaching retirement age and feeling uncertain about your financial future? You're not alone.
According to AMP's 2022 Financial Wellness report, almost half of working Australians don't know how much they'll need to have saved for retirement. The key to a comfortable and secure retirement is careful planning, so, here are some essential tips to help you get started.
The first step in retirement planning is understanding when you can access your superannuation.
Your preservation age, which is between 55 and 60 depending on when you were born, is the earliest you can withdraw your super. Once you reach 65, you can access your super even if you're still working.
The 4% rule is a popular guideline for retirement spending. It suggests that retirees can safely withdraw 4% of their savings in the first year of retirement, and then adjust that amount for inflation each subsequent year for 30 years.
While it's a useful starting point, it's important to tailor your withdrawal strategy to your specific needs and goals.
To figure out how much you'll need in retirement, consider your lifestyle priorities and estimate your living costs.
As a rule of thumb, aim for two-thirds of your current living costs, assuming you've paid off your mortgage. Use a retirement calculator to estimate how much you'll need to save.
Your main retirement income options are an account-based pension, an annuity, a lump sum, or a combination of these.
You may also be eligible for the Age Pension or other government benefits. Consider a transition to retirement strategy if you want to reduce your work hours but aren't ready to retire completely.
As you approach retirement, review your life insurance coverage to ensure it still meets your needs.
You may no longer need as much coverage if your children are grown and your mortgage is paid off. However, maintaining some life insurance can still be beneficial for covering final expenses or leaving an inheritance.
Preparing for retirement can be complex, so don't hesitate to seek professional advice.
Our independent financial advisor team can help you create a comprehensive retirement plan tailored to your unique circumstances. Plus, we can provide guidance on wealth management, business planning, and aged care financial advice.
Remember, retirement planning is an ongoing process. Regularly review your plan and make adjustments as your circumstances change. With careful planning and the right advice, you can achieve the financially secure retirement you've always dreamed of.
It's never too early to start planning for retirement. Ideally, you should begin saving and investing as soon as you start earning an income. The earlier you start, the more time your money has to grow through compound interest.
The minimum superannuation contribution is currently 110.5% of your gross salary, which your employer must pay. However, to ensure a comfortable retirement, consider making additional voluntary contributions. Salary sacrificing into your super can be a tax-effective way to boost your retirement savings.
The Age Pension is a government benefit that provides income support to eligible older Australians. Eligibility depends on your age, residency status, and income and assets. As of 2024, the qualifying age for the Age Pension is 67 years.
Ideally, yes. Entering retirement debt-free can significantly reduce your financial stress and expenses. Prioritise paying off high-interest debts like credit cards and personal loans, then focus on your mortgage.
To make your retirement savings last, consider implementing a sustainable withdrawal strategy like the 4% rule. Diversifying your investments can also help manage risk and potentially provide a steady income stream. Regularly review your spending and adjust as necessary.
If you're worried you haven't saved enough, there are still steps you can take. Consider delaying retirement by a few years, working part-time in retirement, or downsizing your home. You may also be eligible for government benefits like the Age Pension or Rent Assistance.
As a self-managed super fund (SMSF) trustee, it's crucial to have a well-thought-out estate plan to ensure your wealth is passed on effectively and tax-efficiently to your loved ones.
Working with experienced SMSF advisors can help you navigate the complexities and develop strategies to minimise tax and maximise the benefits for your beneficiaries.
SMSFs offer greater control and flexibility over your retirement savings compared to APRA-regulated funds.
However, this also means you are responsible for ensuring your SMSF assets are distributed according to your wishes when you pass away. Without proper estate planning, your SMSF wealth could end up in the wrong hands, be eroded by unnecessary taxes, or face legal challenges from family members.
Over 1.1 million Australians held $885 billion in SMSF assets as of September 2023, highlighting the importance of careful SMSF estate planning for a significant portion of the population.
By taking the time to review and document your plans with the help of an SMSF financial advisor, you can ensure greater certainty and security for your beneficiaries.
While Australia no longer has an inheritance tax, your SMSF may still be subject to a "death benefit" of up to 32% when you pass away, depending on factors like the tax components of your balance, whether proceeds are from an insurance payout, if benefits are paid as a lump sum or income stream, and who the recipient is.
However, with prior planning and the guidance of SMSF strategic advisors, much of this tax can be legally reduced or eliminated using strategies such as:
An independent financial advisor, like Allied Wealth, can assess your situation and recommend the most suitable strategies for your estate planning needs.
For your SMSF estate plans to be carried out efficiently, it's vital to have all the necessary documents in place, up-to-date, and stored securely. This includes your:
SMSF trust deed: The rules governing how your fund operates and distributes benefits. It should be reviewed regularly to ensure it reflects current super laws and your wishes.
Will: Specifies how you want your personal assets and SMSF death benefits paid via your estate to be distributed. It should align with your SMSF estate plans.
Enduring power of attorney: Gives someone you trust the authority to manage your SMSF if you lose capacity. They must be appointed as a trustee.
Death benefit nominations: Binds or guides your SMSF trustees on how to pay your death benefits. They should be renewed every 3 years or made non-lapsing.
Wealth management firms can assist with drafting and reviewing these documents to ensure they are valid and effective.
Even the best-laid plans can go awry if unexpected events occur. That's why it's crucial to have contingencies and exit strategies in place for scenarios such as:
Overseas relocation: Understand the residency rules and tax implications for your SMSF if you move abroad permanently or temporarily.
Retirement financial planning specialists can help you prepare for these eventualities and make any necessary adjustments to your SMSF estate plans.
Passing on your SMSF wealth effectively requires careful planning, expert advice, and regular reviews to ensure your estate plans remain relevant and compliant. By working with a qualified SMSF advisor, you can have peace of mind knowing your hard-earned super savings will be distributed according to your wishes with minimal tax and complications.
To discuss your SMSF estate planning needs and explore tailored solutions, contact the team at Allied Wealth, your trusted ally in wealth management and retirement planning. With their expertise and personalised approach, you can secure your financial legacy for generations to come.
Are you considering working with a financial planner but not sure what to expect? A financial planner is a professional who helps individuals and families manage their money, plan for the future, and achieve their financial goals.
Let's take a closer look at what financial planners do, how to find a good one, and what questions to ask in your first meeting.
A financial planner provides personalised advice to help you make smart decisions about your money. They can assist with a wide range of financial matters, including:
Financial planners take a holistic view of your finances and help you see the big picture. And because they create customised plans based on your unique circumstances and goals, they offer a much more individualised approach to other options out there.
While you can manage your own finances, there are many benefits to working with a professional financial planner:
Studies show that people who work with a financial planner feel more confident and secure about their finances. While there is a cost involved, the value and peace of mind can be well worth it.
Not all financial planners are created equal. It's critical to do your due diligence and choose a trustworthy planner. Here are some key things to look for:
Beware of financial planners who guarantee specific investment returns, pressure you to act quickly, or seem more interested in selling products than understanding your needs. Take your time to find the right fit.
When meeting with a potential financial planner, come prepared with questions to assess whether they match you. Here are some key things to ask:
Listen carefully to the planner's responses and consider whether they take the time to understand your needs, goals and concerns fully. The right planner will happily answer all your questions and demonstrate their expertise and commitment to your success.
For example, at Allied Wealth, we make sure you fully understand the process and how we can help you along the way. We’ll always do our best to answer all of your questions and ensure you’re comfortable with the proposed strategy.
Working with a financial planner can provide valuable guidance and support to help you achieve your short and long-term financial goals. By understanding what to expect from the process, what to look for in a planner, and what questions to ask, you'll be well-positioned to find the right financial planning partner.
When you're ready to take the next step, consider working with an experienced and trusted firm like Allied Wealth. Our team of independent financial advisors specialise in wealth management, retirement planning, and business financial advice to help clients build and protect their hard-earned money. Schedule a no-obligation consultation to learn more about how they can help you achieve financial success.
Looking for an aged care financial advisor? We can help with that, too!