Meet Claire (GP) and Joe (small business owner)* – a married couple in their late 30s with 4 kids.

When Claire and Joe first contacted us for advice, their financial position was as follows:

• They had a combined income of $420,000 per annum
• Owned 2 properties (a home & an investment) – 90% of these was debt
• Combined superannuation balance of $350,000
• Other investments of approximately $30,000

They also came to us as a time poor couple who had no financial sounding board, and were hesitant to ask any questions of their accountant.

As Financial Advisers, we exist to help each client achieve the goals that matter to them. In Claire and Joe’s case, they had some specific goals for us to work towards – these were:

• Build up a fund to support their kids in the future
• Reduce work when the kids are in high school
• Reduce tax

To ensure that our clients could achieve their goals as efficiently as possible, we recommended a strategy for them that included:

• Developing an appropriate superannuation strategy
• Investing in a trust structure
• Debt recycling
• Revised insurances
• Revised estate planning

Ultimately, the biggest wealth highlights for Claire and Joe as a result of their tailored financial plan included:

• An investment strategy that saw them $1.3m better off over 20 years
• A projected super balance that was $800,000 better off than what was expected before advice
• $50,000 saved by removing insurance commissions (over 10 years)
• Transforming their property debt from non-deductible to deductible, resulting in a $120,000 tax saving over 15 years
• Significant tax savings each year as a result of the new estate planning strategy

However, as we know, it’s not all about money. There were some other really powerful non-monetary highlights for the couple including:

• Improved financial literacy
• A reliable sounding board that they were comfortable approaching with any queries or concerns along the way
• A feeling of being empowered, and understanding their finances more confidently

At the end of the day, this case study shows exactly what our work as Financial Advisers is all about.

If you want to understand how independent financial advice can help you achieve your financial goals, please don’t hesitate to contact us to schedule a cost and obligation free conversation with one of our Advisers. We’d be delighted to help.

* Client names changed to protect confidentiality

Any information in this article is general in nature and does not consider any of your personal objectives, financial situation and needs. It is as intended, to be of a general nature only and NOT a recommendation to you. You should consider whether the information is appropriate to your needs, and where appropriate, seek personal advice from a registered financial adviser.