Money doesn’t provide everything, but it does give you choices; it gives you more control over your destiny. But the way you might have managed money in the past is unlikely to yield the results you need today. That’s because life keeps changing. The cost of living is higher, tax can eat up a large portion of what you earn, funding your own retirement has become a necessity and the chance of living longer is a reality.
That’s why you need someone you can trust to help make informed financial decisions to grow your wealth and safeguard what you have spent a lifetime building.
At Aspirations Wealth Group our aim is to restore your confidence in making decisions that help you to get ahead. We do that by being honest about where you are now, where you want to be and how we can help you get there. We do this by challenging the status quo, going the extra mile to ensure you have the widest range of superior investment choices.
We love what we do. To help a client articulate their aspirations, and then build a strategic solution which best meets their needs is always a delight. We believe our passion for what we do comes from the fact that we are helping people achieve their dreams.
But don’t take our word for it. Instead read or view what our clients have said about us:
Should I get a financial planner onboard?
Here's my experience, by Mr Colin Philips (a clients own words)...
I’m a sceptic at the best of times, so when I was looking for help to structure my finances when living in Australia I had to ensure I got the best person to suit our needs. We met our financial planner through a business event (BNI), Rik was clear, upfront and explained everything. Following an initial meeting with Rik I was blown away at how they start the process of working with a client to design their financial portfolio. Initially we did a risk profile and then looked at the different insurance covers we would need to protect against unforeseen circumstances. I worked with Rik for 4 years in Australia before moving back to Ireland and although I made financial gains the best things I got from working with a financial planner were a sense of security for the future and a better understanding of how money works. So if you’re thinking of using a financial planner, here are five things to look out for.
Plan/Goal: My Goal with Rik was to buy and sell my business in 3 years and have a deposit for a house when I moved back to Ireland. Following numerous meetings and risk profiles (for investing) we decided not to invest in property in Australia and focus on the share market. This allowed me to have fluid assets which I could liquidate (cash in) when I decided to move home. So when the time came to move home I was able to liquidate the assets (we actually did it sooner – on Rik’s advice due the market situation) and sell my business. We now have a lovely house in Ireland, because we had a clear plan in place from the beginning and invested in expert advice.
Insurance: In order to plan for the future you need to ensure your income streams are protected. One of the simplest ways to do this is through income protection, which will pay you a percentage of your normal salary if you can’t work. There are other options such as business disruption and serious injury cover to add more protection. Sitting down with a financial planner allows you to understand all the options and design the insurance to suit your needs.
Super: As much as I love helping people with their aches and pains, I'm not going to be able to do it forever! So having a plan in place when you stop working is really important, unless you win the lottery. A super fund is a tax efficient way to save for the future, you can generally control how much you put in each month. A financial planner can help you design a fund to suits your needs and your risk profile. Don’t depend on your government to look after you with a pension, the country you live in may not even exist in 30-40 years time!
Tax : Generally Rik and I touched base twice a year to discuss progress and plan for the following 6 months. Being a business owner also meant that I was responsible for doing a tax return. Investing for the future can have tax implications on a yearly basis, so having a financial planner who could discuss these gain/losses (mainly gains) with my accountant at tax time was brilliant. Having everyone on your team understanding your goals is key, financial planner, accountant, solicitor, insurance broker etc.
Financial Literacy : If you have a better understanding of something, you are generally in more control of how it affects you. Money is no different, sitting down with my financial planner Rik helped me gain a better understanding of how money, insurance and investment structures work. I also gained a better understanding of risk mitigation and how it can be applied to your healthcare business.
So if you are thinking about getting financial advice, here are some things to think about
- Ensure you’re financial planner is licensed by ASIC
- Ensure you know how they get paid
- Before you meet, have some sort of plan that you want to work towards
- In the ideal world ensure you accountant, financial planner and solicitor are all aware of your Goals
- Do it sooner rather than later otherwise you are missing out on the value of compounding money (Google it!)