Inspired service further information
This blog article is provided to help you understand how we may be able to help, expanding on the illustrative summary on our website ‘Inspired service’ page. Note also our Financial Services Guide (FSG) is available on our website. We are a firm that helps protect, build and manage your wealth. We care about our clients and the quality of advice provided. Ultimately, we exist to serve and inspire you to better life outcomes.
We don’t help everyone, and for this reason our ‘discovery’ first meeting helps us establish if we are best placed to assist (or not) and likewise if you feel comfortable with us. If we feel we are not best placed to assist you, we will say so and indicate a suggested alternative. We have a range of services which can be engaged in full or part, depending on your needs.
Areas of assistance
- Cash Flow management: building wealth begins with effectively allocating some of your income to savings and investment. Many require assistance in understanding their lifestyle expenditure and working to improve this, and we can assist here. We have observed that many people are efficient at squandering their income, even if it is a substantial income. Therefore, we can assist in gaining a better outcome here, whilst still maintaining a reasonable lifestyle.
- Strategic advice on your situation: Financial planning advice is all about understanding you, your money habits, what you want for your life and taking a helicopter view to work effectively with the resources you have towards the outcomes that you aspire to. Strategic advice can be broad or potentially more limited in scope. Where investment is concerned, we always will seek and confirm the capacity for risk you have with investment, be it low, medium or high or in between, and make our advice consistent with this. Importantly we will relate this to your objectives and talk to you should we believe that your tolerance for risk may need to change to meet your objectives over time.
- Financial projections on multiple scenarios as part of your plan: Where it makes sense and provides greater clarity, we can use financial projections to provide a guide as to likely outcomes based on varied assumptions. If it suits we can vary those assumptions to provide an understanding of the impact this has. Projections are always a guide and never exact, but can add clarity and help with interrelated and potentially competing objectives.
- Guidance on structuring and tax considerations: We are not accountants or tax advisers; however, we can provide guidance on structuring and tax considerations as it applies to building wealth. This may involve guidance on investing tax efficiently, including order of debt repayment, whether you should consider structures such as a family trust and similar.
- Investment management and planning advice: investment management is done in a prudent fashion, using research houses and an approved investment list. We can provide advice on:
- Diversified portfolios that are consistent with your capacity for risk
- Cash and term deposits
- Managed funds, both index and active in nature
- Direct ASX securities within the top 200
- Separately managed accounts (SMA’s)
- Exchange traded funds (ETF’s), Listed investment companies (LIC’s) and hybrid investments.
- Investment bonds and child bonds
- Superannuation and pre-retirement advice: We can provide strategic advice on superannuation, building wealth towards retirement and selecting high quality super funds and investment portfolios within super. This can extend across industry funds, retail super funds and SMSF’s.
- Tailored financial planning for lawyers: We have a niche specialty in helping busy lawyers with financial planning. Some of our service packages have provision for ‘recharge’ from stress through partner businesses and consider health and wellbeing alongside building financial resources. As part of this, we have run events helping lawyers with mindfulness for greater health and business skills for running more well-rounded businesses.
- Asset protection and risk management: Protecting your situation and family should things go wrong is a fundamental consideration, and we can help with advice to this aim.
- Estate planning: often left out, this is part and parcel of having your financial affairs in order, and the greater wealth you have, the more this becomes increasingly important. We can help you in discussion of this in conjunction with your accountant and estate planning lawyer.
- Assisting you with your other professional advisers: as and where relevant we can work with you and your other professional advisers if you engage us on this basis.
- SMSF advice: We are licenced to provide advice on self-managed super funds. We can provide this, IF it is suitable for your needs, and will steer you away if we think it isn’t.
- How to reduce debt (including mortgage debt): Building wealth can at times be focused on more efficiently reducing property debt.
- Using debt to invest: In some specific situations, it can be useful to use debt to invest. Tolerance for this must exist on your part before we will even entertain it. This is used very carefully and with strict limitations.
- Project managing you towards your objectives, providing accountability: Ultimately our ongoing service is focused on working towards your objectives, reminding you to do the things that help, providing accountability to you, much like a personal trainer in the gym does.
- Through strategic partners, promoting health and wellness and better lives for our clients.
How we help
- A fixed piece of advice: We can help in research, provision and implementation of a financial plan as a specific piece of work.
- Ongoing service: In most cases, serving clients in an ongoing basis with reviews on their situation, investments and keeping them accountable adds value in helping people stay on course toward their objectives. In other words, project managing you towards your objectives.
- Online education: for those who are looking to learn more about money and may not yet be ready to engage our advice, we offer financial education online.
Areas of specialty
- Tailored advice for lawyers on their financial planning needs
- Working with young families
- Young professionals with high incomes
- Helping with money habits and building/managing wealth over time in a prudent fashion
- Superannuation and SMSF advice
Sam Gray Qualifications and professional memberships:
- Certified Financial Planner CFP®
- Association of Financial Advisers (AFA)
- Financial Planning Association (FPA)
- BCom(accounting/finance), BSc(info systems) Murdoch University
- Diploma Financial Services (Financial planning) Deakin University
- Graduate Diploma of Applied Finance (Financial Planning) KAPLAN
- Self-managed super fund certification KAPLAN
- Direct ASX equities accreditation KAPLAN
- Margin lending accreditation KAPLAN.
Currently Incito Wealth operates with a variety of business support functions provided via outsource arrangements which are scalable and nimble, covering customer service, administration and paraplanning support functions.
Watch our short video, which gives a simple overall picture of how we can help: click here.
Here is a template for assisting with doing a ‘life expenditure plan’ to work out what you spend and what is available for further investment: click here.
How we charge
We are a professional advice firm and charge reasonable professional fees for assisting you. In almost all cases this will be done on a fixed fee basis. You will be provided with a ‘terms of engagement’ letter stipulating any fees clearly, and specifically how we can help, prior to agreeing to work with us. We will be clear, transparent and ultimately offer value for our services.
Our first ‘discovery’ meeting is done at our expense and usually is followed by the ‘explore and engage’ meeting during which you will be provided with a ‘terms of engagement’ letter if we can assist you. In some instances where advice requirements are relatively simple, we have a shorter version of our process.
Should you have any further questions, please feel free to ask.
General advice disclaimer: The information provided (including taxation) is general in nature and may not be relevant to your individual circumstances. You should refrain from doing anything in reliance on this information without first obtaining suitable professional advice.
You should obtain and consider the relevant Product Disclosure Statement (PDS) before making any decision to acquire a product.
The views expressed in this article are solely those of the author; they are not reflective or indicative of Millennium3 Financial service’s position and are not to be attributed to Millennium3. They cannot be reproduced in any form without the express written consent of the author.
Incito Wealth Pty Ltd is a Corporate Authorised Representative of Millennium3 ABN 61 094 529 987 AFSL 244252
Disclaimer: Millennium3 Financial Services Pty Ltd ABN 61 094 529 987 AFSL 244252. The information provided in this document is general information only and does not constitute personal advice. It has been prepared without taking into account any of your individual objectives, financial solutions or needs. Before acting on this information you should consider its appropriateness, having regard to your own objectives, financial situation and needs. You should read the relevant Product Disclosure Statements and seek personal advice from a qualified financial adviser. From time to time we may send you informative updates and details of the range of services we can provide. If you no longer want to receive this information please contact our office to opt out. The views expressed in this publication are solely those of the author; they are not reflective or indicative of Licensee’s position, and are not to be attributed to the Licensee. They cannot be reproduced in any form without the express written consent of the author.