Client Success Stories of 2020
As a financial planning business, you may be surprised to learn that our goal for our clients is more than simply financial success. Our goal is to ensure every single one of our clients is cared for and supported on their journey.
2020 was a tough year for many Australians. A year filled with too few good news stories. But it has helped us to reflect on the things we value most in life, things we often take for granted. Sometimes, looking at the silver linings in such chaotic times is the best way to move forward to bigger and brighter days.
We understand that success looks different to everyone which is why we wanted to share a range of success stories, some of our most memorable of 2020 that we are particularly proud to be a part of – our good news stories.
How ‘simply listening’ builds lasting relationships
“I had a client and her spouse come to see me earlier this year with the goal of strengthening their financial position with assistance in superannuation, personal insurance and investment advice. They had previously been to see another financial adviser.
Unfortunately, while the previous adviser had great strategies and ideas in mind, they were by far too big for my clients’ situation and were not financially viable. The plans were not personalised for them and even worse, this couple came to me confused and with a bit of a sour taste in their mouth.
After listening to all of their concerns and aspirations, we were able to put into place affordable strategies well suited to their personal circumstances.
I took the time to explain and simplify the plan we had created together, ultimately to ensure they were confident with the decisions they were making. My client was much happier about the relationship we had built and the level of personalisation I could offer them, by simply listening.
After a while, my client separated with her partner and now needed new strategies and support to account for her situation. She wanted advice in the same areas as previously but now needed it to consider her new budget and financial position.
Instead of telling my client what to do, I listened to her new concerns, and focused on the changes to her lifestyle and finances. I asked her what she wanted, and what she needed, and then made some suggestions that would fit within her budget and stage of life.
I chat with my client regularly to ensure she is still happy with her plan. More importantly I listen to her answers and what she wants out of life to see if we can continue to improve her situation, and her personal plan for the future.
We truly have created a relationship for a lifetime.”
Financial Adviser: Kristy Coulin
The $3,200 tax bill that turned into a $15,000 saving
“A new client came to see me as he had received a tax instalment from the ATO meaning he was paying an additional $3200 per year as a result of owning an investment property.
He came in for a review of his current situation to see if there was a better way to structure his position. As he was looking to retire in 7 years’ time, he was hoping to set aside some more income for his golden years.
After taking the time to review his situation, I noticed that there were other areas of his finances that could be better managed to help him both make and save money. We began by reviewing his tax position, and with some careful adjustments were able to reduce his tax bill by $15,000 per annum.
Next, we developed a new strategy for the investment of the large savings balance he had sitting in cash which was literally going backwards and not helping his retirement goals.
What started as a simple tax-related inquiry has since led to the creation of a solid financial plan for my client which incorporates legislated strategies and provision for a comfortable retirement. One that will allow him to retire earlier if he decides to enjoy more of his well-deserved relaxing lifestyle.”
Financial Adviser: Matthew Simpson-Foster
Insurance providing so much more than just money
“A client was in his early 20s when he came to us for financial advice.
As part of our advice, we recommended he take up comprehensive insurance cover which would protect him in the event of being unable to work, should any illness or injury occur.
Unfortunately, after only a year of having the cover in place, he went motorbike riding with some friends and ended up in an extremely serious accident. He suffered multiple injuries and spent months recovering in hospital.
With the right cover in place, he received a lump sum payment to help with medical bills and will continue to receive monthly income payments until he is able to return to work again.
Now, he can continue to focus on his recovery without the added worries of how he is going to pay his bills or support his family.
These insurance payments have supported my client throughout his injury and without them, this unfortunate incident would have had an even bigger burden on him and his family.”
Claims Manager: Jackie Munday
We feel privileged to have been able to help so many of our wonderful clients create success, and at the same time deliver much needed security in their lives.
If you’re looking to achieve your own version of success, we can help you establish a plan which is not only simple, but also easy to implement – a plan that could help you to reach your goals sooner.
Take the first step and book an initial, no-obligation consultation with our highly experienced team of specialist financial advisers. We have offices located in Central Coast – Erina (CCFPG), Newcastle – The Junction (NFPG) and Sydney CBD (SWA).
DISCLAIMER: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group, Sydney Wealth Advisers, Coastal Advice Port Macquarie and Coastal Advice Ballina Byron are subsidiaries of Coastal Advice Group Pty Ltd which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.
