financial advisor Archives - Newcastle Financial Planners & Financial Advisors

What does a good advisor do?

Harlan Marriott — Wed, 06 Aug 2014 06:19:46 +0000

Some people may think that a financial advisor’s role is to forecast the direction of the share market from month to month and invest clients’ money accordingly.

This is not the reality, of course. Investments are only one small part of what your financial advisor can provide for you. Some of the key areas that we may be able to assist you with are as follows.

Knowledge is power

Consider for a moment the amount of newsprint, websites and broadcast time dedicated to financial topics these days. Australians seem to have an insatiable appetite for understanding finances.

Whether it's the latest share market activity, economic news or the constantly changing tax and superannuation rules, we can answer your burning questions and save you the hassle of finding it yourself.

Money and time

Sometimes the benefit you receive from a financial advisor can be spelt out in dollar terms. It might be the income tax you have saved by re-structuring your salary, or a new concession from the Australian Tax Office (ATO) or Centrelink that you didn't know you could get.

If you agree that time is money, then think about the time we save you when you make important decisions. If you had to do it all yourself, how would you choose the best super fund, investment options, or insurance cover? How frustrated would you be stuck on the phone trying to get regular information from government departments?

With all this confronting you, it's no wonder that many important financial decisions stay in the "too-hard basket". Remember, we deal with these things every day. We are in an ideal position to explain everything you need to know, and to simplify your options.

Personalised advice, every step of the way

The finance section of your newspaper probably includes a regular "advice" or "Q & A" column. By law, these columns must warn readers that the advice does not take into account your personal situation or needs and you should consider its appropriateness before acting.

In setting your financial strategy, we don’t use this "general advice warning" because we have taken the time to get to know you and your circumstances. This means that everything recommended to you—the investment portfolio, super contribution strategies, savings plans and insurance advice—is tailored to your personal needs, goals, and tolerance to risk.

As the years go by, some of your financial strategies will need adjusting due to changes in the broader environment or something closer to home. Whatever the case, we are there to help you make the most of the good times and the bad.

And meeting us for a review doesn't always mean major changes, but at least you'll know that you're on the right track – and you’re not alone.

Disclaimer

If you would like to meet one of our advisors to discuss your financial position and to see what a financial advisor's role is and how we can help you then please do not hesitate to contact our office.
Call Leenane Templeton on (02) 4926 2300 or email us.

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Make the most from your savings

Harlan Marriott — Sat, 01 Jun 2013 04:58:46 +0000

We all want to save more, and a personal budget can help you achieve this important goal. We show you what’s involved – with some great tools to make it easy.

If you feel like you’re not making headway building personal savings, you’re certainly not alone. Recent research by the Australian Securities and Investments Commission (ASIC) found the average Australian household will spend $69,166 on general living costs this year alone. Yet only 54% of us know exactly what the money is being spent on.

ASIC’s Senior Executive Leader, Financial Literacy Robert Drake, says, “We suspect many households end up misdirecting thousands of dollars each year because they are not keeping track of where their money goes.” As a result, Drake says, “Many people fall into the habit of living pay to pay.” And that makes it almost impossible to build savings.

Good reasons to build savings

Even if you aren’t scratching for cash between pay days, it makes good financial sense to have a pool of savings. It provides a source of funds for unexpected bills or emergency expenses, having cash on hand lets you take advantage of investment opportunities, and interest earnings can provide a valuable boost to household income.

Nonetheless many of us find it difficult to save on a regular basis. And that’s where a personal budget is an essential tool. A budget shows exactly what you are spending money on – and where you can cut back to free up cash for saving.

It pays to sweat the small stuff

The thing is, most of us have a reasonable idea of major expenses like annual insurance premiums or monthly home loan repayments but there are plenty of small purchases we make each day. No matter whether it is a few takeaways or a couple of cappuccinos, the cost quickly adds up.

Recognising the impact these purchases can have on our budget, ASIC have developed a new ‘Track My Spend’ phone app. It’s another free tool that helps to improve the accuracy of your budget. For more information visit moneysmart.gov.au. If you don’t have a smartphone, use the traditional method of recording your spending for a week or two in a notebook. Either way, a pattern will soon emerge and you can use the numbers to finetune your budget.

Make a commitment

Once you have a clear idea on how much you can afford to save on a regular basis, the next step is to make a commitment to building savings. The easiest way to do this is by setting up a regular, automatic transfer from your everyday transaction account into a high interest savings account.

Speak with your Newcastle financial adviser to see if you are on the right track.

Source: Colonial First State, October 2012

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Australians Attitude To Debt

Harlan Marriott — Thu, 10 Feb 2011 23:06:48 +0000

Australia has the highest household debt to disposable income ratio in the world, even higher than the USA.

In the 1980s the average Australian household had debts totalling about 40% of their disposable income. In 2006 this ratio had increased to 158% with the costs of housing being the major factor. Over the past decade income growth has failed to keep up with property prices, with many of the increases in prices driven by government incentives for first home buyers.

Whilst the GFC saw households attempt to reduce their debt levels, rising property prices mean that home buyers are taking on bigger loans than ever before, with mortgage payments thereby taking a larger percentage of disposable income. According to the Reserve Bank of Australia total mortgage debt in 2010 was 38.2% larger than national household income, with the figure up from 33% in 2009.

Additionally, a recent report from the Melbourne Institute indicated that in the 2010 June quarter, 36.6% of Australians had credit card debt, overhauling the figure of 33.9% for mortgage debt as the most common debt for Australian households..

With this level of debt and a low level of savings, Australian's historical dream of a debt-free home and retirement savings is becoming less of a reality.

To ensure you have a strong savings plan, are debt-free to achieve your dreams of a comfortable life in retirement talk to Andrew Frith, Leenane Templeton's award winning investment advisor. He is here to assist you in making your dreams reality. For further information please contact your Newcastle Financial Advisor

For business accounting information contact Newcastle Business Accountant

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When Will You Review Your Finances?

Harlan Marriott — Wed, 12 Jan 2011 19:50:26 +0000

Our Financial Advisers in Newcastle say regular reviews of your financial plan are important to optimising your financial security.

Dealing with changes

The financial world is always changing. Political, economic, legislative and social factors will continue to change long into the future. Ongoing reviews with a professional financial planner who understands and

monitors these changes will assist in supervising and tailoring your financial schedule.

Case study

Charlotte and Craig were married for two years before they consulted a professional financial planner. With a baby on the way, the couple needed advice on budgeting and Craig’s investments. Although it was suggested they be involved in an ongoing review service, Charlotte and Craig declined. They believed the advice offered would set them up for life.

Five years later their family had grown and Charlotte had permanently left the workforce. They also inherited money and gained equity in their home. In short, their circumstances had changed drastically and their plan no longer reflected this.

Had Charlotte and Craig been involved in the review process, their financial planner would have been able to offer them a report on Craig’s investments, a tracking of his portfolio as well as any further advice they had needed.

‘Nobody plans to fail but many fail to plan’. An ongoing review service would likely include annual meetings to review your long term financial position. A financial adviser should listen to your needs and goals and tailor their service to help meet them. You can enjoy life today, knowing that your future is in expert hands.

Source: Lonsdale Financial Group – Financially Speaking Edition 28. 2010

Come and talk with Leenane Templeton Chartered Accountants & Financial Planners call 02 4926 230

Newcastle Financial Planner

Newcastle Chartered Accountant

Self Managed Super Fund

DISCLAIMER

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Financial Advisers in Newcastle – New Web Site

Harlan Marriott — Fri, 03 Sep 2010 06:05:54 +0000

This is the first blog on our new website for Newcastle Financial Planner to help with all of your financial planning needs in the Newcastle, Hunter, Central Coast, lake macquarie, maitland. Our financial planners can travel to your location or meet at our financial planner offices at 239 King Street, Newcastle. Leenane Templeton has an excellent team helping with a variety of financial advice for individuals and businesses. We are supported by Lonsdale.

We have a professional team of Chartered Accountants, CPA qualified staff, taxation specialists, wealth management experts, financial planners, business accountants, business advisors and marketing expert in order to help you in all areas of your life whether you are just starting out or in retirement.

Our firm has regularly financial events including SMSF Trustee Seminars, Financial planning seminars and even Business bites a seminar designed for business owners to maximise chunks of information from guest speakers over a lunchtime. Please feel free to call our team or subscribe to our Newcastle office financial updates through email. We look forward to working with you

For more details about our firm you can visit

Business Accountants in Newcastle

SMSF Specialists

Financial Advisers in Newcastle

Chartered Accountants

We look forward to working with you over many generations.

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