INSURANCE
Protection
Optimum financial planning starts with a solid foundation. For a majority, this means protecting what we currently have: our home, our life, our loved ones, our livelihoods. Unfortunately, many people simply do not have the protection they really need.
Whilst ensuring ourselves against undesirable events such as sickness or death may be a confronting exercise, the benefit of being able to set financial issues aside at emotionally difficult times cannot be overlooked.
There are a wide variety of protection policies available these days, some of which are outlined below, but care and guidance must be sought to source the right protection for you and your family. Here at BPFS, we have the right expertise to guide you and develop the right risk management plan to safeguard your interests.
How We Assess Your Protection
Sitting down with you, we review your needs for protection and seek to discover which issues you see as most important to ensure and which ones you want to self insure. Once this is done, from a strong understanding the covers appropriate to your needs can be sort. We would then scan the market for an option that is great value for the money. Insurance isn’t something bought to get wealth, however, based on our experience with the dozens of clients we’ve had attest, we know that you won’t regret being appropriately protected!
BUSINESS INSURANCE
Optimum business planning starts with a solid foundation and agreement. Part of this means protecting your business, its clients and employees. Unfortunately, many people simply do not have the protection they really need.
The principals or key persons of a business should protect the business from losing them, as this may mean the principal’s relatives ending up owning part or all of the business and could also mean the loss of the most important people in the business operations. Whilst insuring ourselves against undesirable events, such as sickness or death may be a confronting exercise, the benefit of being able to set financial issues aside at emotionally difficult times cannot be overlooked.
There are a wide variety of protection policies available these days, care and guidance must be sought to source the right protection for your business needs. Here at BPFS, we have the right expertise to guide you and develop the right risk management plan to safeguard your interests.
INVESTMENTS
BPFS PROPERTY
We see too many companies pitching property investment and then selling sub-standard property to their clients. All the promises in the world turn to dust when you are sold the wrong type of property or a poor-quality product.
SHARES/MANAGED FUNDS
BPFS offers individually tailored advice on your investments based on a review of your personal circumstances, requirements and attitudes to risk.
TAXATION ADVICE
Whilst we understand that your taxation advice comes from your accountant, incidental to financial planning, BPFS advice sometimes crosses over into taxation events occurring. Every care is taken to ensure the accountant you work with and the advice you receive from BPFS advisers is congruent and aligned. Where possible, we engage with your accountant in matters where significant tax events may occur. Examples of events where this may be relevant are:
- Structuring advice – what tax entity you use can have significant tax implications in the long term
- Superannuation contributions advice – limits to contributions that can cause tax issues
- Sale of Assets – capital gains tax implications
- Insurance ownership considerations
Where tax is concerned, we will always provide guidance and defer to your accountant for the most appropriate actions – one of the great benefits of a collaborative approach to your advice with accountant/financial adviser.
RETIREMENT PLANNING
The path leading to a comfortable retirement is best secured by taking advice. There are many areas where advice is valid for you in this timeframe. The decision to give up working for an income to relying on income from investments can be made both comfortable and reassuring. The mechanism by which this is achieved, is a sound and well structured advice process just like what we have built for BPFS clients.
We first assess where you are now, what your desirable outcome is and how it can be made real. We assess the income drawdown requirements you have thoroughly, the investments you hold and create a structure to analyse the sustainability of your approach with you present. This way, you get to see on paper how likely or unlikely it is to reach your desired outcome, rather than finding out once your work income is gone.
An ounce of preparation is worth a tone of peace of mind.
ONGOING SERVICE
Our clients tell us that accountability is a really important part of keeping on track towards financial goals. They also feel the world seems to change so quickly that it is hard to keep up.
Financial plans can’t be set and forget. They need action and work.
That is why many of our clients choose to have an ongoing service agreement with us, for regular 1-2-1 sessions with a team member to set, action and adapt plans and to have someone to keep them accountable to their goals and activity.
Ask us about our ongoing service plans today. Set an appointment to discuss them in more detail.