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?
Financial planning is the process of creating a comprehensive evaluation of your current and future financial state. Calculations of known will be used to predict future cash flows, asset values and withdrawal plans (such as pensions). Most people work with a financial planner and use their current net worth, tax planning, asset allocation strategies and future retirement and estate planning tools to develop their personalised financial plan.
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
A cash flow analysis is not a budget. Instead, it is an analysis of your capacity to spend, save and invest throughout the year. 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.
Whether you are 25 years of age or over the age of 65 a good financial plan should include a strategy for achieving retirement independent of other financial priorities. The plan should include strategies for accumulating the required capital for you to retire comfortably.
A risk management plan
All risk exposures should be identified, and necessary coverage should be discussed to protect your family against financial losses. The risk management plan includes a full review of life and 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. The 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.
Create arrangements that will distribute and preserve your assets with a focus on reducing costs and death taxes such as Capital Gains Tax (CGT). Estate planning is always an ongoing an dynamic process that regularly updates estate planning instruments such as 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
Creating and building wealth does not have to be a complicated process. Our advisers are experts in helping people to create, build and manage their wealth. 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. Our portfolio construction advice is designed in partnership with our clients to achieve desired and realistic results.
Risk Management Strategies
Risk management and insurance are of crucial importance for many families and businesses. Life Balance can access all risk products offered across all of Australia’s leading insurance companies at wholesale rates. We have a fiduciary obligation to find you the best policy at the right cost.
Monthly Transaction Monitoring
Preparing reports and tracking paperwork that is key to your investment portfolio can be an overwhelming task. We take the hassle out of investing and monitor all of your transactions on a Monthly basis. This service is complimentary 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 in conjunction with our Monthly Transaction Monitoring service ensures a smooth and transparent transition come June 30 saving you time and money.