Personal Financial Advice

Superannuation is a tax-effective structure designed to help individuals accumulate wealth for retirement. While not an investment itself, it offers significant tax advantages, such as a 15% tax on income and 10% on capital gains, or zero tax for pensions.

It allows for funding of life, TPD, and income protection insurance, and salary sacrifice into superannuation is often one of the first strategies discussed with clients. Common advice includes fund and investment choice, salary sacrifice, insurance, non-concessional contributions, and pension commencement.

Retirement planning involves providing advice across various areas, with superannuation often playing a key role. However, it also considers non-superannuation assets, casual work in retirement, Age Pension entitlements, and estate planning.

We can help assess your current financial situation, determine how much money you'll need for retirement, and develop a tailored plan to achieve your goals. We will recommend appropriate investments and savings strategies, and periodically monitor and adjust your plan as needed to ensure you stay on track for a comfortable retirement.

Andep Investment Consultancy offers what we call “light touch” investment advice for clients. All investments suggested to clients will be “set and forget”.  We are also happy for clients to come to us with a list of shares, or other investments, that they are interested in purchasing and we can run through the list together and discuss the suitability of each one.

We carefully consider our clients’ investment objectives and risk tolerance before recommending any investments.  We do not charge ongoing fees and, as such, do not offer ongoing monitoring of client portfolios.  We believe clients should retain as much control over their investments as possible but we are always here to help them as much or as little as they need.

We will help clients develop a strategy for investing, including the optimal ownership structure, and will also suggest investments (as part of our personal advice service) if clients are uncomfortable choosing their own.

Insurance is essential for protecting against rare events with severe financial consequences, particularly for individuals with large debts, young children, or those far from retirement. It provides financial relief in the event of sickness, injury, or death.

Choosing the right insurance requires consideration of factors such as coverage value, premium funding options, and whether to separate insurance from superannuation. We offer advice on life, TPD, income protection, and trauma insurance, ensuring policies are set up correctly or adjusted as needed.

We also provide a commission rebate service for clients with existing policies to potentially reduce costs, guaranteeing conflict-free recommendations.

Most clients have very simple estate planning needs that only require fairly basic documentation.

However, estate planning can get complicated for a number of reasons and in these circumstances it can take a lawyer, financial planner and/or an accountant to all cooperate to ensure that your intentions are fulfilled.

Social security rules can be complex and frequently change, but a financial adviser can help maximise pension benefits.  This is especially true in circumstances where one partner in a couple is significantly younger or if your financial affairs are complicated. While the Age Pension is the most common entitlement we assist with, there are several other government pensions that can be enhanced through simple strategies.

Self-managed super funds (SMSFs) are suitable for only a small number of people, and it is crucial to seek independent financial advice before setting one up. Many companies promote SMSFs to sell real estate investments, which may not be appropriate for investors.

Additionally, accountants, though generally ethical, can sometimes be incentivised to recommend SMSFs for higher fees. Andep Investment Consultancy offers unbiased advice without commissions or conflicted remuneration. We assist clients with SMSF investment choices, insurance decisions, and compliance, often involving their accountant in the process.

While we typically discourage SMSF setups, we can guide you if it's the right option. Contact us for further assistance.

Debt can cause significant financial stress, but effective debt management can help regain control. Debt management involves organising and prioritising debts, creating a plan to pay them off, negotiating with creditors for better terms, and adjusting spending habits to reduce the overall debt burden.

A financial planner can assist in developing a clear repayment strategy, helping you efficiently tackle debts like credit cards, HECS/HELP loans, and mortgages. For those in severe financial hardship, seeing a financial counsellor may be a more appropriate first step.

With the right strategies, you can take control of your debt and improve your financial future.

UK pension fund members who have become Australian residents can transfer their UK pension equities to Australian superannuation funds registered as Qualifying Recognised Overseas Pension Schemes (QROPS).

Following changes on 1 July 2015, most Australian super funds lost their QROPS status due to rules allowing early access to super in certain circumstances. Since then, new funds have emerged, generally limited to those over age 55.

We assist clients in deciding if and when to transfer their UK pensions to Australia. Contact us to discuss your pension options with an adviser.