Financial Planning Services
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We help you establish your lifestyle goals and create a plan to set you on the path to financial security while you enjoy your life each step of the way.
We take the complexity out of financial planning by cutting through the confusion and help you make informed decisions about your money and your financial future.
The Abound Financial & Lifestyle Planning roots date back to 1984 and the services provided by our firm have evolved over time in line with the legislative and economic environments and financial markets.
Richard Brown CFP, CPA, BBus(Acc) is the Director of Abound Financial & Lifestyle Planning, a Senior Financial Adviser and has been at the forefront of the firm for over 22+ years and has been a key driver in the firm’s growth, development and evolving approach to financial planning service delivery.
Abound ~ To be in a constant state of movement or action; to be abundant or plentiful or to exist in large quantities.
Our Vision is to help people achieve their lifestyle goals by providing an effective, supportive, caring and high quality financial and lifestyle planning service.
Our mission is to see our clients achieve their lifestyle goals by helping them make informed choices that will set them on the path to financial security.
We aim to help our clients make the right decisions about their finances to help them achieve the lifestyle they desire. This requires preparing a plan that takes into account your current situation, where you want to be in the future, and how you are going to get there.
Establishing lifestyle goals is the key
Establishing your current lifestyle goals will help you achieve your desired lifestyle. Your goals may include travel, providing for your children’s education, purchasing a new home, changing jobs, starting a family or leaving an inheritance. Given sufficient consideration, your lifestyle goals need to be specific, measurable, attainable, realistic and timely.
Your plan may encompass any number of financial strategies that are relevant to your situation and lifestyle goals. We consider measured strategies within acceptable bounds of strategy and investment risk.
Changes in your world (financial, health, emotional, family) and your aspirations mean that ongoing reviews are imperative to helping you achieve your lifestyle and financial goals. Regular ongoing reviews and ad hoc reviews with changes in your circumstances are essential for keeping your financial plan on track.
Insurance and Risk Management
We take into consideration the two dimensions of risk planning: understanding the boundaries of your personal risk profile and shaping your investments accordingly; and implementing personal risk insurance to protect both your income and your wealth.
While injury and illness are never painless, insurance means you can avoid painful damage to your finances.
By pooling your funds with other investors, you’ll have greater buying power, the ability to tap into opportunities that may not be available to you as an individual, and a diversified investment. Importantly, you won’t have all your eggs in one basket.
Superannuation is critical for future financial security, and there are so many options available. We’ll make sure your investments complement your risk profile, and assist you develop a sound strategy for retirement. We are also qualified to assist with the setting up and maintenance of self-managed superannuation funds.
Various strategies can help you gain eligibility for a Centrelink benefit and maximise your Centrelink benefit. We can also show you how your Centrelink benefits fit into your overall strategy.
It’s never too early to start planning for your retirement. While your plans may need modifying over time, it’s important to clarify your retirement goals, and develop a plan to help you achieve them.
When developing your financial plan is it important to gain an idea of how many years you are likely to spend in retirement.
Aged Care (Retirement Villages, Hostels & Nursing Homes)
Moving into an aged care facility or helping a loved one move can be a complex situation. Apart from finding the right accommodation you will also need to consider initial and ongoing costs.
Pricing structures vary from provider to provider and your assets and investments can affect your fees and entitlements in an aged care facility. We can advise on structuring your assets to optimise your position for age care accommodation, maximise your benefits and minimise your costs.
Estate Planning Considerations
Addressing some of the basic Estate Planning Consideration issues can provide significant tax and investment benefits for your beneficiaries down the track. We will help you to identify the relevant issues and provide advice for changes to your Estate Planning needs as appropriate.
Cashflow Management & Budgeting
Managing your day-to-day financial affairs is the first step you can take towards putting your money to work for you. We’ll help you choose a path that helps secure your financial future.
There are a plethora of tax reduction strategies, but the key is to plan well ahead. We’ll help you understand how to minimise tax payable on income and maximise the tax efficiency of your strategy. We can advise on a number of emerging alternative, tax effective investments that are designed to provide solid long-term returns and reduce your taxable income.
By exchanging income for benefits, you can maximise the value of your remuneration. It’s not always a simple solution, so we work with you to develop a package that meets your personal and financial needs.
A thorough insurance analysis is essential to ensure that you’re properly protected against risk such as loss of income due to death, disability or critical illness. We will review your risks and needs in regards to personal insurance (also known as life insurance), total and permanent disability, income protection (also known as salary continuance) and trauma (also known as critical illness) insurance.
Ensuring that in the event of an insurable event (i.e. death, TPD, trauma or illness) you don’t need to sell assets to clear debt/cover income which could potentially impact other goals. Whilst also ensuring that you aren’t over insured and paying excessive premiums which could otherwise be directed to meet other goals.
If you need help in any one or more of the above areas, we would like to invite you in for an initial financial planning meeting and discussion.
We have offices in Ascot Vale, Toorak and Melbourne CBD.
If you would like to book an appointment with one of our financial advisers, simply call or email us today!