UA is committed to collaborating with and assisting our clients to achieve and surpass their financial goals. If you're considering your next move, be sure to contact us today!
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The financial landscape in Australia continues to become more complex.
Alongside the economic and geopolitical changes, we are also seeing significant changes from Government across areas such as taxation, superannuation, retirement planning and the rules affecting businesses and investors.
Some of these changes will create opportunities. Others may require people to rethink strategies that have worked well for many years.
What is becoming increasingly clear is that financial decisions can no longer be looked at in isolation.
A decision that makes sense from an investment perspective may have tax consequences. A tax strategy may affect your superannuation or retirement planning. A change to your business structure may have implications for your personal wealth, estate planning or longer-term financial strategy.
This is why I believe having the right accountant and financial adviser working together has never been more important.
Changes to Australia's tax and superannuation system reinforce the importance of looking ahead rather than simply reacting when new rules take effect.
Whether changes relate to superannuation, tax thresholds and concessions, retirement strategies, business structures or the way investments are taxed, the important question isn't simply:
“How does this change affect me?”
The betterquestion is:
“What should we be doing about it as part of my overall strategy?”
Answering that properly can require both accounting and financial planning expertise.
For example, an accountant may identify the taxation consequences of a particular strategy, while a financial adviser considers how that same decision affects your investments, superannuation, retirement income, cash flow and longer-term objectives.
When those professionals are working together, the conversation becomes much broader than tax or investments alone.
It becomes about you and what you are trying to achieve.
This is one of the reasons we have continued to build United Advisory around an integrated advice model.
Rather than your accountant, financial adviser and investment professionals operating independently, we believe they should be working towards the same objectives.
That means your:
The objective issimple: one team, working from one strategy, towards your goals.
There is another practical benefit that shouldn't be underestimated.
Most people don't want to spend their time acting as the intermediary between their accountant, financial adviser and investment manager.
You shouldn't have to explain the same situation several times, forward information between different firms or discover after a decision has been made that another adviser would have recommended approaching it differently.
When your professional team works together, information can be shared more efficiently, strategies can be discussed before they are implemented and decisions can be considered from multiple perspectives.
For our clients, that should mean less administration, fewer surprises and better-informed decisions.
With Government changes continuing to reshape parts of the financial landscape, it is increasingly important that planning takes place before decisions or deadlines are upon us.
Good advice is often about what you do well in advance.
There may be opportunities to review superannuation contributions, investment structures, business and personal tax planning, retirement strategies or other aspects of your financial position before the end of the financial year.
Not every strategy will be appropriate for every client, which is exactly why individual advice matters.
The key is giving your accountant and financial adviser enough time to look at your circumstances together and determine whether anything should change.
At United Advisory, our vision has always been broader than providing individual accounting or financial planning services.
We are continuing to build a team of accountants, financial advisers, investment professionals, auditors and support specialists who can work together around our clients.
As the world becomes more complicated and the rules governing tax, superannuation, business and investment continue to evolve, I believe this integrated approach becomes even more valuable.
Ultimately, you should not need to understand every change to tax legislation, superannuation rules or investment markets yourself.
That's our job.
Our job is to understand what is changing, determine what is relevant to you, and bring the right people together to help you make informed decisions.
Because in an increasingly complex world, having good individual advisers is important.
Having the rightteam working together is even better.
Important Information: This content is issued by Mason Stevens Asset Management Pty Limited, ABN 92 141 447 654 (MSAM).MSAM is a corporate authorised representative (CAR 461312) of Mason Stevens Limited, ABN 91 141 447207, AFSL 351578 (Mason Stevens). The information provided is of a general nature only and does not have regard to any individual’s personal objectives, financial situation, or needs. You should consider this information, along with all your other investments and strategies when assessing the appropriateness of the information to your individual circumstances. MSAM encourages seeking specific professional advice from a licensed financial adviser before making a decision to transact in relation to any investment, security, or strategy. Investment in securities including derivatives involves risks. Securities by nature will rise and fall and therefore past performance is not a reliable indicator of future performance. MSAM and its associates and their respective directors and other staff each declare that they may hold interests in securities and/or earn fees or other benefits from transactions arising as a result of information contained inthis communication. MSAM ensures that the information provided in this communication is as accurate and complete as possible but does not warrant itsaccuracy or reliability. References made to any third party, or their data is based on information that Mason Stevens believes to be true and accurate asat the date of this communication but is without independent verification. Opinions and or information may change without notice and Mason Stevens isnot obliged to update you if the information changes. Mason Stevens and its associated companies, authorised representatives, agents, and employeesexclude to the full extent by law, liability of whatever kind, including negligence, contract, fiduciary duties or otherwise, to investors or anyone else inrespect of any loss or damage, including indirect or consequential loss or damage, foreseeable or not, arising from or in connection with this information.
UA is committed to collaborating with and assisting our clients to achieve and surpass their financial goals. If you're considering your next move, be sure to contact us today!
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