Client Case Study
- Mark and Wendy own and run a successful manufacturing and service business.
- Whilst they had assets within superannuation, the majority of their wealth was tied up in their business.
- They held insurance policies but these had not been reviewed for some time.
- Mark and Wendy wanted to develop a plan to use their free cashflow to diversify their assets away from the business and ensure they had liquid assets at retirement.
- They were concerned about the fees they were paying to their previous financial adviser.
- They wished to review their need to continue their insurance policies given their changed circumstances since the policies were established.
- They wished to diversify the assets that they held within their superannuation fund.
- We reviewed Mark and Wendy’s situation and assisted them to develop a plan for their eventual retirement.
- We recommended changes the underlying assets held within the self managed superannuation fund.
- After analyzing Mark and Wendy’s need for insurance we advised them to cancel their existing policies.
- Private Capital Advisers were engaged to provided:
- Strategic Financial Planning Advice
- Portfolio Administration
- Investment Advice
- Their Accountant provided tax, audit and financial statement responsibility.
- Mark and Wendy had peace of mind that they would have access to a flexible income stream in retirement.
- By cancelling their insurance policies they saved approximately $12,000 per annum which was then able to be redirected to accumulating assets for retirement.
- The ongoing investment and advice fees that they incurred reduced by $6,500 per annum.
- The superannuation fund was invested in a broader range of assets.