In Good Times And In Bad, A Little Wisdom From The Experts Might Make All The Difference!

When it comes to investing, there are a number of basic principles that can potentially assist in making the experience a more successful one.

At The Financial Advice Shop we believe that “wisdom” is potentially a very important factor in successful long term investing and so do the experts.  To learn more, take the time to read the following article:

ABOUT THE FINANCIAL ADVICE SHOP:  We are a leading, independent and experienced provider of strategic financial planning solutions for the over 50’s with a specific focus on strategy and cost effective long term investment solutions.

#independentfinancialadvice #financialadvicecanberra #financialplannercanberra #financialadvisercanberra #independentfinancialadvicecanberra

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.


With The Banking Royal Commission In Full Swing, Isn’t It Time For You To Get A Second Opinion From Someone You Can Trust?

The issues being current raised in the Royal Commission come as no surprise to many who are in the know but are kept silent in perpetuity through legal documents containing things like confidentiality clauses.  In the end I felt obligated to start my own Financial Advice business and ultimately decided to make the necessary business changes to be able to call myself an independent financial adviser.


The problem for most people is that they don’t have a point of reference.  People instinctively want to trust others but sadly this is not a sound strategy as it turns your financial future into a lottery: you might get lucky and find a great financial adviser or you might not.


A far sounder strategy is to seek a second or third opinion and from that process work out the questions you really need to ask and have answered.


If the Royal Commission hasn’t motivated you to take action and get a second opinion or third opinion then I’m not sure what will.  If you don’t take an interest in your own affairs, rest assured no one else will either.


They say that the definition of insanity is doing the same thing over and over and expecting different results.  If this sounds like you then its probably time for you to stop doing what you have always done with your financial affairs and instead explore ways to do things proactively and very differently.


At The Financial Advice Shop there is something very important that differentiates us from our so called competitors: we don’t want to be known for being big, we want to be known for being awesome so our clients are never just a number.


HOT TIP:  The need for honest and practical financial advice has never been greater, so if you are over 50 and have significant wealth, 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.


ABOUT THE FINANCIAL ADVICE SHOP:  We are a leading, independent and experienced provider of strategic financial planning solutions for the over 50’s with a specific focus on cost effective investment options.


#independentfinancialadvice #royalcommission #financialadvicecanberra #financialplannercanberra #financialadvisercanberra #independentfinancialadvicecanberra

Dare To Dream!!!

Like having a personal trainer, accountability and structure can make the difference between a dream, and a dream that becomes reality.

It’s Financial Planning Week and the theme this year is “Dare to Dream”. Did you know that a massive 63% of Australians have made “no plans” or “very loose plans” to practically achieve their dreams! However a professional financial planner can put you on the right track to achieving your goals.

To start your journey to improve your financial situation, click on the link below to visit our website and download the latest research from the Financial Planning Association of Australia to better understand the Financial Advice requirements of everyday Australians.

When you are ready to take action, contact The Financial Advice Shop to see how a Certified Financial Planner® could help you turn your dreams into reality.

#daretodream #financialadvicecanberra #financialplanningweek

Why Haven’t Your Superannuation Costs Reduced By Up To 60% Over The Past 5 Years??

There is no doubt that the cost of investing in superannuation has been steadily falling in recent years but unfortunately in many cases the fee savings are not being passed on to investors. The fee savings are instead being absorbed by the institutions who are closely involved with the investment products they recommend and used to bolster their profits at the expense of investors.

In a perfect world, a fair dinkum financial adviser or financial planner would tap their existing clients on the shoulder and let them know when a more suitable and cheaper investment alternative becomes available. In reality, this rarely happens for a number of reasons but primarily because organisations are addicted to profiting from their investment product and the FOFA Legislation allows the practice to flourish.

At the Financial Advice Shop, we have a very simple and transparent business model that focuses on reducing superannuation and allocated pension costs associated with investments in old, obsolete or conflicted “badged” versions of funds like Asgard and other mainstream funds. We have many examples where we have been able to substantially reduce investor’s Asgard superannuation and allocated pension total investment costs: by up to 60% on occasion.

If you or someone you know are a superannuation or allocated pension investor whose fees are too high, it is time for you to look at some of the newer alternatives and consider more creative ways to invest.

What should you do next? It’s really simple: if you have a reasonable superannuation or allocated pension balance and would like to cost effectively invest with sound financial advice for a more secure financial future, contact us today to see how we can help you understand things more clearly.

#asgard #asgardfees #superannuation #superannuationfees #allocatedpensionfees #FOFA #financialadvicecanberra #financialadvisercanberra #financialplannercanberra #financialadvisorcanberra

What Are Two Of The Most Common Mistakes That Members Of The PSS Scheme Regularly Make?

Being a member of one of Australia’s most generous superannuation schemes is not, in itself, enough to ensure you end up with a secure retirement.

The most common mistake members of the PSS Defined Benefit Scheme make is that they do not contribute enough to the scheme during their working career. In effect, many members are making a very big mistake every fortnight and over a long period of time this can be a disaster.

The employer benefit is linked to member contributions and years of service so it is possible for members to severely disadvantage themselves by contributing at a low rate during their working career.

The key to maximising your PSS Scheme is to understand how your after tax contributions affect final retirement benefits. Depending on your salary and years of service, contributing at a rate of only 2% of salary over a long term career could shave $100,000, $200,000 or more from your final retirement benefit.

The second most common mistake members of the PSS Scheme make, and Public Servants more generally, is that they do not commence salary sacrifice to superannuation at the most appropriate time and at the most appropriate level. Usually it is commenced far too late at a low level with adverse retirement consequences.

When it comes to salary sacrifice to superannuation, if you are within 10 years of retirement, it is time to have a serious discussion about your retirement goals and ways to enhance your final retirement position. A discussion is the best way to understand your options, plan a way ahead and then take appropriate action.

What should you do next? It’s really simple: make contact with us to see how we can help you.

#pss #psssuper #psssuperannuation #publicsectorsuperannuation #pssscheme #publicsectorsuperannuationscheme

Financial Advice, Mortgage Advice, Or Insurance Advice From A Business That Also Has A Financial Interest In The Recommended Product Won’t Guarantee You 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.

The great thing about strategic financial advice and fee savings is that you could have a greater chance of having more money to spend in retirement.

Many people procrastinate when making important financial decisions or make poor financial decisions on their own in situations where an experienced financial adviser could make a real difference. Don’t let this happen to you.

Hot Tip: Always shop around and test the market from time to time with a few service and product providers to make sure you are genuinely getting a great deal.

A conversation with someone like The Financial Advice Shop could save you tens of thousands of dollars in fees over your lifetime, and also give you a strategic framework for making future financial decisions with an experienced financial adviser!

#financialplannercanberra #financialadvisercanberra #financialadvicecanberra #financialplannercentralcoast #financialadvisercentralcoast #financialadvicecentralcoast

Receive Financial Advice From A Big Institution If You Must, But Always Make Sure You Get A Second Opinion From Someone Smaller!!

Going to any large institution and asking their financial adviser for financial advice is not a bad idea.  You may even find that some organisations offer you a cheap or free initial financial plan but in the long term this may cost you dearly.

When you seek financial advice, it is important to note there are potentially four major sets of fees to be aware of: 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; particularly if the business owns or has a financial interest in the product they recommend.

When you get a second opinion, it may or may not be significantly different in terms of the original financial advice strategy offered, however 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 long term financial disadvantage.  A smaller organisation can potentially be more cost effective and client focussed with a higher level of personalised service.

If you have a reasonable superannuation or investment balance, it has been our experience that with careful product and investment selection there can be an opportunity for significant long term 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!

HOT TIP: It is difficult to know what you don’t know.  So why not take the opportunity now to do a stock take on your financial affairs and consider if you would reject fee savings if they could be made available to you?

#financialadvicecanberra #financialplannercanberra #financialadvisercanberra