Organising personal financial planning needs can be a confusing process. Some people believe that they need in-depth knowledge of:
Superannuation.
Investment strategies.
The property market.
Tax law.
General information can help people understand their circumstances and the available options. Where personal financial advice is required, this is provided only by authorised representatives of Lifespan Financial Planning Pty Ltd (AFSL 229892). For lending and credit assistance, FAA Group operates under its Australian Credit Licence (ACL 388789).
Key takeaways
Why choose a local financial planner on the Sunshine Coast?
Face-to-face contact
Local knowledge
Property trends
Some investment portfolios may include real estate. Investment properties may be affected by several issues, including:
Rental yields and vacancy rates. Researching historical yield movements may contribute to decisions around setting rent prices. Understanding typical vacancy periods in the area may help you understand expected income.
Tenant demographics. Different areas may cater to different types of tenants. Understanding who to target with marketing may affect how long it takes to secure tenancy.
Migration flow. People may come from interstate, and residents in capital cities sometimes travel to regional areas. This may increase the number of short-term tenants. Understanding these population dynamics may inform property management.
Location counts for a lot in the property market. That means that local expertise may support clients in making informed decisions about their investments.
Regulations
One thing you can’t accuse the financial industry of is being under-regulated. Those regulations can have significant implications for investors. It’s crucial to ensure that your investment strategies remain legally compliant.
Investment advice from a qualified financial planner may include a discussion of compliance issues and what that means for your investment management.
Financial goals
Sunshine Coast financial advisers may work with clients to explore how financial decisions are influenced by lifestyle considerations and other objectives. Planning isn’t just about looking at numbers. Most people want their money to serve their life, not the other way around. There’s a lot to consider here.
Stage of life. Each client is at their own stage in life. They may be starting their career or preparing for retirement. This may play a part in what options work for your financial future.
Lifestyle. What do you want from life, and how do your finances fit in with that vision? A lot of emphasis is placed on retirement planning from the beginning of the financial journey. That’s for good reason. Planning for retirement is crucial. But you also want to enjoy your life now. Do you want to travel or save for a house? Understanding what your desires are helps to structure your plans.
Financial planning services we offer on the Sunshine Coast
Income protection
- We discuss your circumstances and answer any initial questions you may have.
- You are presented with policy options based on your general situation.
- You may decide which policy you feel is appropriate for you.
- Our team can assist with arranging documentation and guiding you through the application process.
General information only. This material does not take into account your objectives, financial situation or needs and does not constitute personal financial, legal or credit advice. Personalised financial advice is only provided by authorised representatives of Lifespan Financial Planning Pty Ltd (AFSL 229892).
Self-managed superannuation fund (SMSF)
Superannuation is a significant part of most Australians’ retirement savings. Establishing an SMSF means taking on the legal responsibilities of a trustee, which includes meeting strict compliance and reporting obligations such as:
- Passing the sole purpose test
- Staying within in-house asset limits
- Understanding borrowing restrictions
- Complying with related party transaction rules
Our team provides general information and administrative support to clients who establish an SMSF. This may include:
- An initial consultation providing general information about SMSFs
- Administrative assistance with SMSF registration and account setup
- Ongoing compliance and reporting coordination
Note: FAA Group provides general information and administrative support only. Any personalised financial advice is provided by senior financial advisers who are authorised representatives of Lifespan Financial Planning Pty Ltd (AFSL 229892). Credit assistance may be provided by FAA Group under its Australian Credit Licence (388789).
Property management
Through FAA Property, we support property owners with the leasing and ongoing management of their investment properties. Our property management services include:
- Marketing your property through professional listings
- Conducting open homes
- Tenant screening
- Lease preparation
- Routine inspections and maintenance coordination
- Rent collection
- Managing tenant enquiries and communications
How to choose a financial planner on the Sunshine Coast
Licensing for financial advice
The Australian Securities and Investments Commission (ASIC) regulates the financial industry. Anyone who provides advice about your financial circumstances must have the appropriate licence.
Australian financial services licence (AFSL). An AFSL permits the holder to provide financial advice to clients. The licensee may be a company that employs authorised representatives, or an individual.
Australian credit licence (ACL). Any credit activities a business conducts must be performed under a valid credit licence. This licence covers professionals such as brokers and mortgage managers.
How do you know if a service provider is appropriately licensed? ASIC maintains online registers that are freely searchable. Here’s where to look:
The Financial Advisers Register lists people who provide personalised financial advice. You can find information on their qualifications and what they’re permitted to advise on.
The ASIC Professional Registers Search provides information on any company or person who is registered or licensed by ASIC to provide a service. This may include a financial service company or a credit licensee.
Transparent fees
Be completely clear on your adviser’s fees. Fees can be structured in different ways, including:
Fee for service. There may be a one-off fee for certain services like providing specific advice or preparing a Statement of Advice.
Hourly rate. Sometimes, you may have additional questions that fall outside of the ongoing services being provided. Answering these queries may be priced through an hourly rate.
Fee for implementation. Financial planning may involve considerable administrative work to implement the plan. This could include:
Opening accounts.
Purchasing property or other investments.
Rolling over superannuation interests.
Ongoing fee. Clients may pay a fee, often on a monthly basis, that covers regular advisory work such as reviews and reports. This fee may be charged at a flat rate or as a percentage of the assets being managed by the adviser.
All fees must be laid out in a Statement of Advice (SOA). The SOA should help ensure there are no hidden fees.
Potential conflicts of interest
An SOA states the recommendations the adviser is making for the client. Advisers are also legally required to disclose any interests or relationships that could influence the advice given. Financial advisers may sometimes receive a commission for convincing a client to purchase a financial product from a particular provider.
Independent financial advisers do not receive commissions from third parties. Partnering with an independent adviser may help you avoid being funnelled into a product pipeline.
From our clients
Firstly I would just like to thank you and the team for your support as well as Shannice, for her time and guidance, it’s all been helpful. The information provided was clear and easy to understand.
- Serena
Disclaimer: This testimonial reflects a personal experience and is not a guarantee of results. It does not constitute financial or credit advice. Past performance is not a reliable indicator of future outcomes.
Conclusion
Most people aim to plan for their retirement with greater financial confidence. A qualified financial adviser may offer local knowledge and in-person availability. With the right information and support, you can make informed decisions about your financial future.
Are you feeling unsure about your financial decisions?
FAA Group can help you understand your options with clear, factual general information. And if you need personalised financial advice, this is provided by senior advisers within our office who are authorised representatives of Lifespan Financial Planning Pty Ltd (AFSL 229892).
Sunshine Coast Financial Planning – Frequently Asked Questions
How much does a financial planner cost on the Sunshine Coast?
What does a financial planner do on the Sunshine Coast?
Do I need a financial planner on the Sunshine Coast?
How do I choose a financial planner on the Sunshine Coast?
What is the difference between a financial planner and financial adviser on the Sunshine Coast?
Can a Sunshine Coast financial planner help with retirement planning?
Do Sunshine Coast financial planners help with SMSF setup and administration?
How often should I meet with my Sunshine Coast financial planner?
General information only. This material does not constitute personal financial, legal, or credit advice. Personal financial advice is provided only by authorised representatives of Lifespan Financial Planning Pty Ltd (AFSL 229892). Credit assistance is provided by FAA Group under its Australian Credit Licence (ACL 388789). For tax advice, please consult a registered tax agent.
