loader image

Home > Blog > Financial Planning Team Overview

Financial Planning Team Overview

Date: 26 April 2023

Financial planning is all about people. As a client, you may be somewhere between filing a salary or wage tax return, owning a business, or being a farming client. The goal of financial planning is to help you connect your money to the life you want to live. Financial planners work with clients to create plans and strategies to ensure that they stay on track to achieve their goals.

Life events such as inheritance, marriage, divorce, children, new loans, buying a house, retirement, starting a business, exiting, or selling a business, among others, may necessitate financial planning. The old saying goes that if you fail to plan you plan to fail. This is where financial planners come in handy.

Our conversations start with getting to know you and discovering what you want, and what your needs are. We then work with you to create a long-term solution that aligns with your goals. Whether you want to accumulate wealth, protect it, retire early, fund your retirement, get Centrelink help, reduce tax, reduce debt, plan your estate, or age care, we’ve got you covered.

The bulk of the value clients gain from financial planning comes from working with clients and developing strategies to manage their finances. The remaining value comes from how the money is invested, how much time you have, and how much capacity you have. Deciding to buy shares in Woolworths or Coles will only add a small part to this value. We work with clients to discover what is important to them, and these conversations are deeply personal and educational. Often, clients come into meetings and want to talk about what they are seeing on the news or hearing from a friend. We listen and educate them on what is going on in simple terms, helping to dispel any fears or concerns.

Clients often focus on what they should invest in and do not consider how they hold this investment. We work with clients to discuss holding the asset in their own name, an entity like a trust or company, or superannuation/SMSF. We can provide some basic tax information, but for anything more, we work closely with accountants who are licensed to give this advice.

What clients invest in is largely determined by their investor type. We educate clients on how different investments work and the trade-off between investment risk or volatility and returns. We then work with the client and come up with a solution that will involve investing in cash, property, and shares and how much into each asset.

The most important asset you have is yourself. Your ability to work and earn an income is greatly underestimated. Without this income, your goals are likely to be in jeopardy. Personal insurance may seem like an unnecessary expense, but for those who receive a claim, it is invaluable. Insurance is there to ensure that a medical event is not going to cause catastrophic consequences personally or to your business interests. We can help you work out what cover you need should you pass away (Life Cover), suffer a Total and Permanent Disability (TPD) that means you cannot work for any physical or mental reason, trauma cover (Stoker, Cancer, or Heart Attack), and Income Protection if you cannot work due to a medical event.

If you are seeking general advice, we are happy to sit with you and provide some educational material, just email enquiries@rmfp.net.au

Start today

To get in touch with our team, start by emailing us at enquiries@rm.net.au

Know More

ATO Portal Update

ATO Portal Update

Client-to-agent linking now applies to all entity types with an ABN (excluding sole traders). This was implemented on the 13 November and includes entity types such as companies, trusts, partnerships, superannuation funds and not-for-profits. Client-to-agent linking...

read more
Congratulations to Bernadette Garratt on 20 years!!

Congratulations to Bernadette Garratt on 20 years!!

Bernadette Garratt, one of our amazing Business Services Partners, recently reached a special milestone. September marked her 20 years as a Partner of Roberts + Morrow. Well done Bernie on an amazing achievement. We thank you for your hard work and dedication to the...

read more