Wealth Creation

Wealth Creation

As CPA accountants with financial planning qualifications we are mindful that wealth creation is the result of a judicious intersection of planning and opportunity.

The team at McKinley Plowman & Associates is dedicated to helping clients create wealth, build on it and protect it.

For well over a decade, we’ve been driving clients to achieve their financial goals.

Whether it be achieving a unique personal financial goal, retiring early, ensuring a champagne lifestyle in retirement, or setting the foundations for future wealth, our team can help.

McKinley Plowman & Associates' extensive range of financial planning services includes everything from a share transaction to a comprehensive financial plan, personal risk insurance, tax planning, wealth creation and protection, gearing strategies, setting up self managed superannuation funds, United Kingdom pension transfers and retirement issues.

Our integral role with our accounting and finance broking divisions enable us to provide a holistic financial planning service that is tailored to a client’s unique needs.

To learn more about our wealth creation services send us an email.

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Financial Planning Process

Step 1: Free meeting with our advisers for you to determine whether we can be of assistance and provide the financial services you require, and receive a Financial Services Guide.

Step 2: Information collection on your financial situation, goals and objectives.

Step 3: Preparation of a Statement of Advice (Financial Plan) outlining our recommendations.

Step 4: Meeting with us to present the Statement of Advice and discuss our recommendations.

We provide a full implementation and on-going review service to help you achieve your goals.

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Statement of Advice

Full Financial Planning Service

Our financial planning service offers a comprehensive analysis of all areas of your financial situation. This includes an assessment of your:

  • Financial and lifestyle goals and objectives
  • Current assets and liabilities
  • Cashflow and tax position
  • Superannuation and contribution levels
  • Risk profile
  • Personal risk insurance

From this information we develop a detailed Statement of Advice (Financial Plan) to help you achieve your financial and lifestyle goals and objective. The Statement of Advice will provide specific advice on:

  • Wealth creation strategies
  • Gearing strategies
  • Superannuation
  • Retirement Planning
  • Tax planning
  • Investment recommendations
  • Wealth Protection and Personal Risk Insurance
  • Estate Planning
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Specific Financial Planning Advice

At McKinley Plowman & Associates we can provide advice on a range of financial planning areas including answers to the following:

Superannuation:
  • How much superannuation do I require and are my current contributions enough to meet my retirement objectives?
  • How can I minimise my tax bill and take advantage of the Government's various incentives and tax rebates for investing in superannuation?
  • How can I obtain greater performance from my superannuation?
  • How can I obtain greater control over my superannuation assets?
Self managed superannuation funds (SMSF)
  • What is a Self Managed Superannuation fund, and is it appropriate for me?
  • What are the benefits of a SMSF?
  • What are my obligations as Trustee of my own superannuation fund?
  • What investments can I include in my SMSF?
  • How do I establish a SMSF and obtain assistance in the on-going management of the fund?

What is a Self-Managed Superannuaton Fund?

Retirement Issues
  • How can I benefit from a Transition to Retirement Pension?
  • How do I maximise the tax effectiveness of my retirement benefits?
  • Should I take my retirement benefits as a lump-sum or as an income stream?
  • How do I split my retirement benefits with my spouse to reduce the amount of tax payable?
  • What is an account-based pension?
  • How do I structure my investments to maximise the amount of aged pension to which I am entitled and how much aged pension will I receive?
Wealth Creation
  • How can I maximise the potential for growth of my investments while ensuring that I am investing in assets appropriate for my level of risk?
  • How do I start investing in shares and managed funds and which funds are appropriate for me?
  • Which funds have received "A" grade ratings from independent research houses and which funds have been downgraded? When should I consider switching my funds?
Gearing
  • What is gearing and is it appropriate for my financial situation?
  • How should I structure my gearing to maximise the tax benefits of negative gearing while reducing tax on dividends and capital gains?
  • What is a margin loan and is it better than borrowing against my house?
  • What is installment gearing and how can it reduce the risks of borrowing?
Personal Risk Insurance
  • Is my current level of personal risk insurance sufficient?
  • What are the various types of insurance and which are appropriate for me?
  • How can I make my insurance more tax efficient and save on the cost of the premiums?
  • Which insurance premiums are tax deductible?
Salary Packaging
  • How can I reduce my tax through salary packaging?
  • What benefits can I salary package?
  • Is purchasing a car through a novated lease agreement beneficial for me?

 

 

 

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McKinley Plowman & Associates offers financial advice as an Authorised Representative of Count Financial Limited (Count), Australian Financial Services Licence Number 227232, using Count’s Approved Product List.

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