Life Balance offers a range of strategic financial planning services that are tailor-made to suit your individual needs. We offer personalised, confidential financial planning advice to assist you in making the right choices to grow and manage your wealth.
What is financial planning?
Simply, financial planning is the process of setting goals to achieve your future lifestyle. Our planners work together with clients to formulate goals and take advantage of the legal and financial resources available to them. Financial planning can be specific to one area or challenge, or it may cover a full range of areas. Each person is different, therefore every financial plan, in our opinion, should be suited to your own personal needs.
What is involved in a financial plan?
A financial plan will always be based on an individual’s or family’s financial goals. Goals may include buying a home, starting a business, retiring by 65, funding the kid’s education or leaving a legacy for the next generation.
Cash flow modelling & analysis
Advanced cash flow modelling can be conducted to demonstrate scenarios years down the track so that you may map out the best way of achieving your financial goals. Cash flow modelling is especially relevant for those people who like to get down to the nuts and bolts of their finances.
Whether you are 25 years of age or over the age of 65 a good financial plan is important to map out what kind of a life you would like after work. Therefore, retirement planning typically involves discussing strategies for accumulating and preserving the required capital.
A risk management plan
All risk exposures should be identified, and necessary coverage should be discussed to protect your family against financial losses. A comprehensive risk management plan includes a full review of your life, disability insurance, income protection coverage, property coverage and trauma insurance.
Long-term investment strategy
Customised asset allocation and investment selection will be based on specific investment objectives and your risk profile or tolerance for risk. Furthermore, an investment plan sets guidelines for purchasing, selling and monitoring the performance of investments.
Determine ways to reduce taxes on your personal income in a legally permissible manner. Strategies are designed to identify specific investments and investment structures that are proven to reduce the amount of taxation on investment income.
Estate planning is always an ongoing an dynamic process that regularly updates your Wills, Power of Attorney, medical directives, marital trusts, family trusts and binding/non-binding death benefits.
What are the financial planning services that we offer?
Wealth Creation, Management & Strategy Development
Wealth creation can be made easy and enjoyable. We work to implement strategies that keep our clients on track to achieve both their financial and lifestyle goals with as little stress as possible.
Superannuation Consolidation & Administration
For many Australians super will be their primary source of retirement income. At Life Balance, we take a proactive approach to super that leaves clients feeling connected, confident and understanding about where their retirement savings are heading. We advise on a range of superannuation solutions from simple, super products to more sophisticated platforms such as Master Trusts, Wraps, and Self-Managed Superannuation Funds.
Investment Advice & Portfolio Construction
We provide strategies that diversify and protect our client’s assets and lifestyle using only well-known, reliable investments with a reputation for excellence. Further, portfolio construction is a process that takes place in partnership with our clients that can be as automated or hands on as you desire.
Risk Management Strategies
Risk management and insurance are of crucial importance for many families and businesses. While some advisers offer only a limited choice of products, Life Balance can access all insurance products from across all of Australia’s leading insurance companies. Most noteworthy, our planners have a fiduciary obligation to find you the best policy at the right cost for your budget.
Monthly Transaction Monitoring
Preparing reports and gathering paperwork for your investment portfolio can be an overwhelming task. Monthly transaction monitoring is a service that we provide that effectively outsources your investment administration. Most importantly, transaction monitoring takes the hassle out of investing and is complimentary service for clients of Life Balance.
Online Portfolio Access
Keep up to date with your portfolio online with Life Balance Portfolio Access. Log in and view your investments, keep up to date with industry news and much more.
Life Balance can arrange for quarterly, half-yearly or annual portfolio reporting. Whatever your needs, we have you covered. Our End of Financial Year reporting and monthly transaction monitoring service ensures a smooth and transparent transition come tax time.