Financial Planning
Financial planning is the difference between creating your own financial future and just hoping it will happen. If you don't know where you’re going, all roads lead to nowhere. Having a financial plan brings structure, direction and a degree of certainty to your financial future. There is a lot at stake and statistics from The Financial Planning Association suggest over 84% of Australians retire on an income of less than $21,000. Many people under estimate their retirement costs and you simply can’t rely on social security benefits to fund your retirement. Timely, appropriate and independent financial advice is required to help you successfully plan for the future.
We offer clients a professional and personal service through an affiliate group who have many years experience in all aspects of financial planning. We liaise with them on taxation, capital gains tax and succession planning issues to ensure that you have cohesive financial strategy going forward. Our commitment is to provide you with a customised, confidential and fully independent financial planning service. Talk to us today about planning your road to retirement.
Succession Planning
Succession planning is about preparing for retirement and the sale or hand-over of your business. We can work with you to develop a succession plan and help you implement the appropriate systems, processes, policies and procedures that form part of your exit strategy. All too often, business owners become immersed in the day-to-day operations of their business and give little thought to their future exit strategy. It is important to have a clear idea of what you want to do with your business from the outset because it can influence the choice of business structure, the value on sale and the application of capital gains tax.
It is critically important that your financial statements are up to date and reflect the true state of your business. This can make the transfer seamless and potentially protect the value of your business. We can advise you about the capital gains tax implications on sale and how to protect your business and personal assets by choosing the right business structure. Another part of succession planning is having a clear idea of what will happen in the unfortunate event that the business owner or key employees dies, leaves the business or is injured and unable to perform their duties. When its time to realise your investment in your business either by sale or through succession to a family member, we can also help you with valuation and negotiation, smoothing the way for a tax efficient solution.