Now that we are at the end of May, just a reminder that Property Investors should have already sent in your completed checklists for your 2018/2019 tax variation. To obtain our tax variation checklist please click HERE.

We have also started taking appointments for the 2018 tax season so please book in at our relevant office to secure your preferred meeting time and location.

Do not forget that we now have our own secure Client Portal so that you can upload information into that portal. The WSC Group Client Portal also allows you to access your records from any internet connected device and give you the flexibility to electronically sign documents.

Why WSC Group Started Financial Planning.

In this month’s newsletter, I just wanted to focus on why it is so important to have a long-term financial plan. I have been reflecting this month on the history of our financial planning business over the past 4-5 years. I am pleased to note that over 250 of our clients, nationally, now use this service. The financial planning team specialise in taking clients’ property, business assets and both super/non super assets and assisting them devise a strategy to make work optional.

I recently had my own financial plan prepared and wanted to share with you some of the processes that I went through:

1. Devise with a strategy around when and where I sell my properties and put some of these proceeds into super.

2. Looked at long-term business earnings and when it would become possible to work slightly less – do not worry, I am still planning on working until I am 90 so I will keep trying to remain fit and healthy to reach this milestone!

3. We were concerned about having a financial plan that would allow us to spend some time in the future looking after possible grandchildren.

At the end of the presentation of the plan, I felt really comfortable with the suggestions of the financial planning team and with the thoroughness of the process taken.

Peter Eason, our paraplanner, goes into great detail to look at a number of different options and at the end of the financial planning meeting I felt I could trust our financial futures to the team.

Some things I noted are as follows:

1. There was no discussion on products to invest in and at no time did I feel like I was “sold” to.
2. My goals and needs were paramount and, as of yet, we have not discussed any investment products.
3. I was more than happy to have regular meetings to adjust the plan as I felt there was always a need to make alterations due to changing circumstances.

It has been really interesting in talking with a number of our clients that work within the banking industry and hearing that they have always been reluctant to use the banks’ financial services. I think we now all understand why, given recent events with the royal commission.

Our financial planning arm is privately owned and has no links or ties to any financial institution or insurance company and importantly has the freedom from influence. This enables the team to provide advice that is robust and in your best interest.

What we have also commenced doing is having Round Tables in each state where up to 10 clients can attend and discuss relevant pertinent issues. I would encourage you, if you can, to attend one of these round tables, as you will receive some quality information with no pressure as to whether you want to proceed or not proceed. I am always encouraging our clients to grow in their knowledge and the round tables are an opportunity to do this.