The Final Report From The Royal Commission Into Misconduct In The Banking, Superannuation And Financial Services Industry Has Finally Been Publicly Released!

The Government is indicating it will commit to take action on all of the 76 recommendation.

At The Financial Advice Shop we have reviewed the recommendations and concluded it really is business as usual for us and our clients, as most of the industry sensitive and more controversial recommendations are already our standard policy.

When it comes to Financial Advice, The Financial Advice Shop is a leading force.

Would you be better off partnering with The Financial Advice Shop?

#royalcommission #royalcommissionrecommendations #financialadvicecanberra

Disclaimer: The information in this post is of a general nature only and has been provided without taking account of your objectives, financial situation or needs.  No representation is given, warranty made or responsibility taken about the accuracy, timeliness or completeness of the information. Because of this, we recommend you consider, with the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.


Merry Christmas From The Financial Advice Shop

With the Christmas break fast approaching, we would like to take the time to personally thank all of our loyal clients for their support and to wish them all a very Merry Christmas.


A_Merry Christmas From The Financial Advice Shop 2018

*Please note that The Financial Advice Shop will be closed from COB Thursday 20th December 2018 and will reopen on Tuesday 29th January 2019.  Only urgent issues or portfolio management matters will be attended to during this period.

The Financial Services Royal Commission Interim Report

The Financial Services Royal Commission Interim Report will likely trigger many financial services business to consider making massive changes to their business models and partnering arrangements in order to ensure they seen to be acting in the client’s best interests.

For others it will be business as usual…..

#financialservicesroyalcommissioninterimreport # financialservicesroyalcommission

How Confident Are You That 2018 Will Be A Good Year For Your Superannuation?

Click on the link below to read a share market article from IPAC that attempts to look into the crystal ball for 2018.

Hot Tip: The investment world is not without significant risks at the moment so now might be a good time for you and your Financial Adviser to review and understand the risks you are taking with your superannuation.  In periods of share market volatility and uncertainty, nervousness can result in wealth passing from weak hands to strong hands so make sure you have a plan for a share market correction as it will come eventually.

If you feel you need a second opinion on your current superannuation arrangements, contact The Financial Advice Shop!

#financialadvice #retirementplanning #superannuation #financialadvicecanberra #retirementplanningcanberra #financialplanningcanberra #financialplannercanberra #superannuationadvicecanberra #financialadvisercanberra

Not All Industry Super Funds Are Super!

Don’t be fooled by sales and marketing into believing all industry super funds are created equally. They most certainly are not!

It is a very big job to analyse them all and we have not done that but we have looked at a number of them for the most expensive ones we could find in both super and pension.

We have decided not to name the most expensive industry super and industry pension accounts we found, but you can be assured they are very expensive by our standards.

For a “Balanced” fund with $50,000 invested, the most expensive industry fund account we found for either super or pension was $1,115 p.a. (2.23% p.a.) which seems very expensive to us!

HOT TIP: Don’t be fooled by industry fund sales and marketing. The need for honest and practical financial advice has never been greater, so contact The Financial Advice Shop without delay to see if we can assist with a cost effective Financial Advice Health Check to ensure you better understand all of your future superannuation contribution and investment options.

Disclaimer: information current at time of publication but is subject to change without notice so accuracy is not guaranteed.

#industrysuper #industrysuperfundfees

Are You Being Ripped Off With High Superannuation And Investment Fees?

There has never been a better time to review your superannuation investments and consider options to reduce costs. If you do not take action, you can be 100% sure that no one else will and you should not feel secure simply because you are using an industry super fund.  You should also not underestimate the negative effect high fees could have on your financial security.

In recent years, superannuation and investment costs have been steadily falling but unfortunately those costs are often not passed on to investors and often increase when members retire. There are a variety of reasons why so many investors are not benefiting from lower superannuation and investment costs, some of which relate to conflicted financial adviser remuneration and commissions that are paid from inflated fees.  If you have been invested in a financial superannuation or investment product for a number of years, it is time for a review!

None of the superannuation or investment recommendations from The Financial Advice Shop have hidden fees or commissions so you can be confident they are extremely cost effective and represent excellent value for money. Our superannuation and investment offering is very unique and it is a fact that we regularly save many new clients thousands, and in some cases tens of thousands, of dollars in ongoing fees every year.

While you are thinking about fees, make sure you also think about your strategy and the risk in your investments! We know from experience that it is extremely rare that improvements and refinements to existing strategies will not yield improved results.

HOT TIP: The need for honest and practical financial advice has never been greater, so contact The Financial Advice Shop without delay to see if we can assist with a cost effective Financial Advice Health Check to ensure you understand all of your fees and future superannuation investment options.

#superannuationfees #superannuation #financialadvicecanberra #superannuationcosts #financialplannercanberra #financialplanningcanberra #retirementplanningcanberra

What Are Notional Employer Contributions To Superannuation All About?

The new superannuation changes take effect from 1 July 2017 and for members of some Defined Benefit Superannuation schemes these changes are significant.

If you are a member of a Defined Benefit Superannuation Scheme and do not know what the implications of a Notional Employer Contribution are, you need to get some urgent advice as it is important for a number of reasons.

For members of the Commonwealth Superannuation Scheme (CSS) and the Public Sector Superannuation (PSS) Scheme, things are about to change significantly, and for the worse. Until 30 June 2017 the unfunded portion of employer contributions to the CSS and PSS for contributing members are ignored for the purpose of determining their Concessional Contribution Cap, but that is about to change from 1 July 2017.

From 1 July 2017 a notional employer contribution for CSS and PSS members will be reported to the Australian Taxation Office and with the associated reduction in the annual Concessional Contribution Cap to $25,000, salary sacrifice contributions may need to be scaled back significantly. For PSS members, the Notional Employer Contribution is also affected by the member’s personal contributions which also have a significant effect on final retirement benefits.

For members of the CSS and PSS, the calculation to determine the maximum amount that can be salary sacrificed to superannuation is about to become more complicated. CSS and PSS members who are currently maximising their salary sacrifice entitlements will also need to account for the fact that their last payday for this financial year falls on 29 June 17.  There is therefore a real risk that the last salary sacrifice payment from this financial year may be received by their superannuation after 30 June and count towards next year’s concessional contribution cap of $25,000.

With all of this complexity, isn’t it great to know that our business has experts available to help you make sense of all this and can provide assistance where required. If you feel you might benefit from a Financial Advice Health Check in preparation for the latest round of superannuation changes that commence on 1 July 2017, contact us without delay.

A Financial Advice Health Check for members of the PSS is particularly important as it has been our experience that many members are not maximising their entitlements. In this situation, a Financial Advice Health Check has the potential to add tens of thousands of dollars to a member’s final retirement entitlements.

In a complex world, there has never been a better time to contact us to see how your financial situation could be improved.