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Financial Planning & SMSF

Financial Planning & SMSF

We offer a variety of financial planning services, like super consolidation, SMSFs, setting up investments portfolios and making sure you and your assets are well protected.

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Having a financial plan is an important part of your investment journey. Our Financial Planners work with you to help build your overall wealth, and can advise on mainstream superannuation, Self Managed Super Funds, personal insurances and investment options across several different platforms, including shares, bonds, cash savings, managed funds and indirect property.

Investing in retirement through a self managed super fund is becoming increasingly popular due to their flexibility, for example, buying property within the fund. There are three main things to consider before establishing an SMSF: can your current super fund offer the things that you’re after (such as the flexibility to invest in shares), are you prepared to make the time commitment required, and finally, are you prepared to take on the cost.

In the end, the decision to start an SMSF involves a trade-off between the cost of running the fund, both financial and time costs, and the benefits that it can return, such as flexibility and control. Our financial planners will help you decide whether or not an SMSF is right for you and if it is, will take you through the process, step by step, of setting one up and guide you through the investment process, ensuring your SMSF provides you with the best possible outcome come retirement.

All clients of Empower Wealth are eligible for a complimentary super and insurance review, where one of our Financial Planners will take an hour with you to discuss how your super is looking and whether there are any shortfalls in your current insurance situation.

(Note: Please click here to read our Financial Services Guide)

If there is work to be done, they will take you through the advice and implementation process step by step, giving you peace of mind that you and your wealth are protected and on your way to building a wealthier tomorrow.

Frequently Asked Questions

  • Will I have enough?

    This is one of the most common questions any financial planners are asked when meeting with new clients. This question, however, is usually met with another question; how much do you plan to spend on lifestyle and other items in retirement? It is always important to start the planning process with the end or goal in mind.

  • How much is this going to cost me?

    Financial planning may and do encompass a myriad of tasks and activities; some simple and some more complex. As a fee for service financial planning practice, our fees are tailored to the work required.

  • Should I rollover my superannuation?

    The decision to rollover or move your superannuation money from one fund to the next should be taken in the same light as looking to upgrade or purchase a new car. It is important to understand what is under the bonnet and to determine whether it is still appropriate.

  • When is it a good time to buy shares?

    Whilst timing can certainly add to the overall performance of your investment portfolio it can also detract from the performance. It is more important to determine how shares can add value to your current portfolio of investments.

  • Can I start an SMSF?

    The decision to start an SMSF fundamentally involves a trade-off between the cost of running the fund, both financial and time costs, and the benefits that it return be it flexibility or control. To learn more, check out our Three Things to Consider before Setting up a SMSF.

  • Why should I put money into superannuation?

    Superannuation is simply one of many ways to invest or create wealth for your future, and like any other investment options it does have its pros and cons. Investing through the superannuation system will offer tax effective benefits but there are restrictions on accessing the funds. The decision to invest in super should be made in conjunction with an assessment of your overall lifestyle plans.

  • Why do I need insurance?

    When embarking on a wealth creation journey it is often easier and certainly more exciting to focus on the great things that can happen further down the track and the assets we have acquired to get us there. Personal insurances, on the other hand, are often neglected as it is difficult to consider that we, as an integral part of the wealth creation process, can un-fortuitously suffer from illness and accidents that can very well hamper our plans.

  • How can I use super most effectively?

    Superannuation is simply an investment vehicle. Utilising superannuation effectively to hold the right types of assets can certainly provide you with a more efficient way of holding your investments.

  • How much insurance do I need?

    We can never predict what and how misfortune may befall on us. Therefore, it is important that the amount of insurance serves to reduce the risk of us going backwards and/or allow us to continue with our plans.

  • How can I manage the cost of insurance?

    Insurance should serve as the defensive mechanism of any wealth creation strategy. However, the cost of it should not hinder our ability to create wealth. Structuring the insurance appropriately and conducting an appropriate assessment of risk can help manage the cost of insurance.

  • How can I effectively invest my surplus income?

    A surplus of income or cash flow is the fundamental springboard from which a sound wealth creation strategy can be created. The surplus income should be directed into investments that will meet your financial objectives; providing you with flexibility, control and are appropriate given the risk you are prepared to take.

  • Why should I have a financial plan?

    The planning process starts with an assessment of your objectives and your risks. The result of which is setting in place of the appropriate structures that provide flexibility, manages risks, and ultimately puts you on the path to reaching your objectives.

  • Is there any flexibility on how I can pay for advice?

    As a fee for service business, we offer our clients a number of ways to pay for advice.

  • How much experience does your advisor have?

    At different stages of your life and circumstances, as well as investment markets, change is inevitable and hence, it is important to have a financial planner that understands the potential impact of the changes, either through experience or education or both. While it can be difficult to determine the level of experience your advisor may have, looking out for the right accreditation and professional membership such as the Financial Planning Association is a good start.

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