The ASIC Financial Advisers Register Is Finally Up And Running!

It has been a very long time coming, but you can now check and compare financial adviser history, experience and authorisations on a single website.

The ASIC Financial Advisers Register is intended to be unbiased and allows you to compare financial advisers on a purely factual basis.  Importantly the Financial Advisers Register discloses any past disciplinary actions that have been taken against the financial adviser.

Click on the following link to check out the information that is now available on the ASIC Financial Advisers Register.

https://www.moneysmart.gov.au/investing/financial-advice/financial-advisers-register

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Looking For A Complimentary Financial Advice Newsletter?

To download a complimentary copy of our Autumn 2015 financial advice newsletter, click on the following link and to receive future editions please feel free to subscribe to our mailing list.

http://www.financialadviceshop.com.au/news.html

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Women And Superannuation: It’s Time For Some Serious Girl Power!

The Australian Taxation Office recently noted that women retire with significantly less superannuation than men.  It is therefore very important for women to take early and proactive action, as it is too late to be worrying about your superannuation when you are approaching retirement.

It is estimated that approximately 90% of women retire with inadequate super and that men retire with around $90,000 more in superannuation than women.

Approximately 250,000 workers also miss out on employer superannuation contributions on their employment earnings because they fail to earn $450 per month.  Of the 250,000, a large percentage of them are likely to be women.

Part of the solution could be to find ways to make additional contributions to your superannuation.  Either salary sacrifice or personal superannuation contributions could be considered depending on circumstances, along with other options like splitting superannuation with your partner.

A small contribution every month over a very long period of time can make a huge difference to your superannuation balance at retirement.  Also, regularly making a personal contribution where it qualifies for the Government Co-contribution can also help.

Another possible part of the solution could be to make a conscious choice in selecting your superannuation fund.  If you use your employer’s nominated superannuation fund, make sure it is cost effective and that you understand how it is being invested.

HOT TIP:  Don’t make the mistake of not thinking about your retirement because it is still a long way away.  Like any important goal, the sooner you start planning and taking action, the greater your ultimate chance of success!

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If You Receive Financial Planning Advice, Mortgage Advice, Or Insurance Advice From A Business That Also Owns Or Has A Financial Interest In The Product, Are You Guaranteed The Best Deal?

We know from experience that it might be very convenient to receive a number of services from one organisation and to also use their products, but the reality is you may do much better by shopping around.

If you are unsure if your adviser or their business has an interest in the product being recommended, carefully read the disclosure section of your written advice.  This exercise may surprise you.

Hot Tip: Always shop around and test the market with a few service and product providers before making a final decision to purchase or invest in anything.

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Get Your Free Initial Financial Advice From A Big Institution If You Must, But Then Make Sure You Get A Second Opinion From Someone Smaller!

Going to your local bank and asking their financial adviser for a free financial plan is not a bad initial strategy.  After all it is free and you will probably get some good strategy advice to get you thinking.

A second opinion may or may not be significantly different from your original financial advice, but from a cost perspective there could be an opportunity for significant long term fee savings.  Unfortunately, some of the large institutions spend a lot of time maximising shareholder returns and executive bonuses so in-house investment and superannuation options can sometimes be a recipe for financial disadvantage.

If you have a reasonable investment or superannuation balance, it has been our experience that with careful product and investment selection there could be an opportunity for fee savings from a second opinion.  The great thing about fee savings is that they are yours, tax free, to spend or save as you see fit for the rest of your life!

When you seek financial advice, it is important to note there are potentially four major sets of fees.  An initial financial advice fee, an implementation fee, investment product fees and ongoing financial advice fees.  Over the life of your investments, the investment product fees and ongoing financial advice fees can represent the major components of the total costs.

HOT TIP: It is difficult to know what you don’t know so take the time to do a stocktake on your financial affairs and consider if you would reject fee savings if they could be made available to you?

Not all financial advisers are the same so if you know someone who should be reading this article, put them in touch with us.

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Can Superannuation And Financial Advice Help You Manage Capital Gains Tax In A Red Hot Property Market?

In a red hot property market, many investors that are selling their investment property are finding they need a strategy to assist with optimising their tax situation.  For some, superannuation contributions might be a good option to consider.

Click on the link below to read a brochure that provides a hypothetical example of how superannuation can be used to reduce the overall tax liability from a property sale for someone who is self employed.  For those who are employees, salary sacrifice can be used in a similar way but earlier and more detailed planning is required.  It is important to note that in the case study, Brenda could have made additional superannuation contributions for further advantage!

We are currently helping a number of our new and existing clients to deal with this issue, but for those who are employees time is quickly running out to make a material difference in the current financial year.

HOT TIP: If you need help on this issue, act quickly to get financial advice and understand your options before it is too late.

Click here to read more: Superannuation May Help You Managae Capital Gains Tax On A Property Sale

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During March 2015 All New Clients Will Be Offered A Special Discount To Our Already Low Financial Advice Fees.

There has never been a better time to contact The Financial Advice Shop and seek assistance with your financial advice needs. Perhaps you also know someone else who should contact us?

During March 2015, all new clients who contact The Financial Advice Shop will be offered a special discount to our already low financial advice costs. If you are referred by an existing client of The Financial Advice Shop, an additional discount will apply.

If you have been thinking about your financial advice needs, now is the perfect time to act before this special offer expires.

Learn a little more about your Central Coast financial advice specialist via the following link and then make contact with us.

http://www.financialadviceshop.com.au

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