A financial plan is about strategy as much as investing

Many clients come to us with a view to what financial planning looks like, and there are several reasons why they’re thinking about professional advice. They either seek an early retirement, need to pay off debt, or realise they may not be as good at managing their money as they want to be and must get their finances under control. Other reasons occur when they receive a healthy inheritance and want to maximise it over the long term, or they have a substantial amount in superannuation or other assets.

Each of these scenarios has different challenges requiring differing tactics. Throw in risk tolerance, age, earning capacity, and various commitments such as children’s education, business opportunities, estate planning, etc., and you can see there is no one-size-fits-all formula.

Qualified financial planning involves composing a long-term financial strategy that meets an individual’s circumstances, lifestyle profile, and desired outcomes.

Smart investing is one part of the financial planning puzzle; however, our role as financial planners is to take a big-picture approach to each client. Implementing a financial strategy is the difference between designing an investment portfolio and developing a comprehensive framework that meets goals, optimises tax positions, and importantly protects wealth.

We take a big picture view. We need to comprehend your circumstances thoroughly. In partnership with you, we examine your assets, liabilities, income, expenses, insurances, and most importantly, your objective. From there, we work with a trusted and professional network of investment managers to design a plan structured for your risk profile. Our team monitors its performance throughout the strategy, ensures it is flexible to your needs, and can adjust to the broader outcome. Whether to retire early, pass on wealth to the children, or reduce debt, every outcome has a customised strategy supporting it.

Change is inevitable. Whether regulatory, tax laws, or the market’s up and downs, being aware of changes is part of any maturing financial plan. This means a set-and-forget approach and letting your finances roll along yearly without professional oversight or review will cost you more than you think. It is essential to ask the questions. Is my superfund performing? Can I reduce the interest on my mortgage or other loans? Am I entirely optimised to minimise tax? By examining the questions and finding solutions to improve small inefficiencies, the compound result can translate into significant sums in the years ahead.

Step Up Financial Group, now AFPG, we have experienced clients who have saved thousands of dollars by shopping their mortgage around or restructuring their insurance policies as part of a broader financial plan. These are strategic wins; the impact is significant when you create a stream of strategic wins over a decade or more. Every year, we help hundreds of Australians create financial stability and resilience while building toward a confident retirement.

Contact us today for experienced, compassionate, and professional financial planning advice.