Family Chief Financial Officer (CFO) Service
The Family CFO Service is Perfect for busy, high income individuals and families who value team work, they seek clear action plans for their life plan & to build tax effective wealth.
Your Family CFO
Our premium Family CFO Service is akin to a project that delivers a financial road map and an action plan to help you achieve your Life Plan.
It includes designing and co-ordinating your A-team of highly skilled experts such as accountants, mortgage brokers, investment managers and solicitors.
Working with us means you will have more time and the complex becomes simpler. Our approach is great for busy families who value teamwork over working in isolation.
This service is via invitation only and starts with an initial 12 month engagement.
It’s a comprehensive scope of work including superannuation, investment, tax planning, cash flow, debt and wealth protection.
How it works
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A no obligation phone chat so we can hear more about you, what’s on your mind and how we can help.
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This meeting focuses on your hopes and dreams for life now, in 3 years and 10 years, also known as your Life Plan.
We spend considerable time discovering how you want to live your life, where you’d like to live, retirement income goal, what you’d love to do, learn and your legacy. We start gathering necessary information about you — your current situation, family, business, work, finances, assets and liabilities.
This meeting costs $395 and a quote for our personal financial advice services is provided after this meeting.
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At this stage we agree to how we will work together.
We also take this opportunity to make sure that we truly understand your situation by ensuring we have collated the right data about your assets, liabilities, income and expenses.
We also work through an investment risk profiling exercise.
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We present and discuss various potential strategy solutions addressing your issues and financial objectives such as asset protection, investment growth and superannuation strategies.
Typically this strategy meeting will be a combination of our input and recommendations together with advice from other professionals such as your accountant and solicitor.
We will go through detailed cash flow projections and financial modelling to help you make informed ‘trade-offs’ on decisions which affect your ability to achieve your goals.
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Once we have discussed the various issues and potential strategies available to you via the Strategy Meeting, we will then agree to the way forward. The Statement of Advice is a legal document that formalises our financial advice to you and how the advice puts you in a better financial position.
We also commit to an agreed action plan and commence implementation.
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Following your acceptance of our advice, we arrange for recommendations to be implemented. This involves co-ordinating the services of necessary professionals (as agreed by you).
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Together we review your investment performance and portfolio. We track your progress towards the way you want to live against agreed milestones in your game plan.
The Review is to revisit your life plan and identify key risks to your plan. We talk about new goals and discuss your portfolio. We discuss our proposed strategy revisions and agree to future action.
How you’ll feel
Confident and financially organised with peace of mind about your financial future, even if life throws you a curveball.
Other ways we can help
The service is centered around building wealth, managing risks and project managing your finances. This means we may conduct an insurance review, estate planning meeting with a lawyer, set up your automated bank account structure, meet with a mortgage broker… whatever it takes to get you organised in line with your Life Plan, this service includes it.
We’ll design and co-ordinate your A-team
We may collaborate with other specialists such as accountants, lawyers and mortgage brokers to get the best outcome for you, save you time and hassle.
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If we are providing you with insurance advice, during this meeting we will calculate the appropriate levels of cover for you, provide you with approximate premium costings and discuss an ideal insurance structure for affordability, estate planning wishes and tax effectiveness.
We consider health issues that concern you and discuss your preassessmnet feedback from our insurance panel.
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We meet with an estate planner to ensure your estate plans and financial plans work in harmony to reduce the risk of your loved ones arguing over money after you’ve passed away, whilst enhancing tax efficiencies and protecting your legacy from unintended parties.
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This service will provide you with the benefits of an organised cash flow system, which is critical for personal financial success. You’ll understand where your money is going – and where it needs to go to help you achieve your ultimate life goals.
We set up a Cash Management Account to set up an automated bank account structure to provide you with more accountability to spend within your means and save for those important goals.
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Succession planning can be stressful because of the many emotional and legal considerations involved, thus a group meeting with your accountant or lawyer is held.
We understand what’s required to ensure a smooth transitional process for all involved, plus the strategic financial steps to be considered when you receive a lump sum payment for a business.
Setting up the correct structure from an early stage is critical. It ensures that you limit your Capital Gains Tax exposure, makes provision for the transfer of ownership in the event of an accident, and maximises the asset’s value.
Effective succession planning provides a smooth transition for family members involved in the business and ensures that valuable employees are also considered.
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We will you up with your very own Wealth Portal that you can access 24/7 that securely links your bank accounts, assets and liabilities with automatic updates and transaction reconciliations.
This will help you keep track of your cash flow and allow you to watch your wealth grow.
A 12 month cash flow report is useful to confirm how much retirement income you realistically need.
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If your objective is to invest in residential or commercial property, or finance a home, we meet with and continue to collaborate with a mortgage broker, your business bank manager or finance specialist.
