There is another group of potential clients who are in desperate need of good advice now and have the opportunity to become your high income accumulator and wealthy retiree of the future. These are the young family.
The number of Australians reaching retirement with large mortgages is increasing. Rather than decreasing debt as they age, many have been adding debt using the equity in their homes.
While the focus for a large number of accountants at the moment is ensuring they have a solution for the removal of the accountants’ exemption, it is also important that they think about how they will meet their professional obligations when providing financial advice.
The web, regulation and our increasingly self-directed consumer market have forced the advice industry to evolve or die. As a result, the quintessential “risky” or risk adviser is being replaced by a new, savvier species – the Risk Professional. And they know that a risk discussion that goes deeper than just insurance is key to their survival.
Australian families are changing shape with the number of blended and step-families on the rise, bringing with it new financial challenges for today’s modern family.
Money-savvy young professionals who are in the wealth accumulation phase pose an interesting challenge to banks and advisers. For the typical wealth accumulation client, borrowing facilities are often more relevant than complex superannuation investment strategies. So how can we add value to a client who has long-term borrowing commitments?
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With the needs of various segments within the SMSF trustee market becoming better defined, advisers should take the opportunity to re-evaluate their offer and ensure it aligns with the client segments they’re trying to attract, writes Aaron Dunn from The SMSF Academy.
Is there a right time to move a client in or out of an SMSF, writes newealth Investments executive director Matthew Heine
How will the increasing popularity in self-managed super funds affect the wider wealth community? InvestorStrategyNews publisher, Greg Bright, explains.
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