Simple strategies to create wealth
Licensed
Financial
Planning
From July 1st 2016, new regulation requires all accountants to either have licences or cease providing any financial advice to their clients. Advice regarding Superannuation must be provided through an Australian Financial Services Licence. The team at Proactive Tax saw the change as a great opportunity to offer client’s a much broader financial planning service and James Wilson has chosen to be authorised through SMSF Advisers Network Pty Ltd (SAN) – the Australian Financial Services Licence of the National Tax and Accountants’ Association Ltd (NTAA).
Steps
InThe
Process
1
Identify requirements
Predominately focused on the benefits of “Self-Managed Super Funds (SMSF’s), the process involves an initial $385 investment which identifies your overall requirements but with no obligation to proceed any further if you cannot see the financial benefit.
2
Statement of Advice
The initial investment can be deducted from the cost of a Statement of Advice (SoA), a price which is provided up front depending on the complexity of your existing assets.
3
Establish Self Managed Super Fund
The third step in the process (depending on the recommendations included in the SoA) may be to establish a SMSF.
4
Develop Investment Strategy*
Investment in property, cash or shares will all be considered based on your current asset position, your individual tax exposure and your risk profile.
* If an SMSF is considered to be appropriate, then investing in direct shares is generally the most cost effective and flexible wealth creation strategy available. You will work with a stock broker of your choosing (we will help with some recommendations). Our philosophy is to “keep things simple” so that you can understand clearly what the objectives are in terms of your future wealth.
