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Kade Anthony - Client Relationships key to building a successful business

30/3/2017

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WRITTEN BY EDITOR ON MARCH 24, 2017. POSTED IN BLOG, BLOG DYNAMIC

Financial advice, superannuation investments, and life insurance could be considered topics that people often file in the ‘I’ll think about it later’ basket.  But Kade Anthony from Southern Advisory is determined to change all that through his personal touch and approach to servicing the needs of his clients. He firmly believes that the value, success, and growth of his business all comes down to client relationships and ‘educating clients rather than just selling them products because people like to be listened to, not sold to’.

Like many people who leave corporate life to start their own business, Kade was confident in his professional skills but found that continuing as an employee for a company just wasn’t cutting it.  After a 2 year mentorship with a senior financial advisor while studying to obtain his license, he established a financial advisory business with a small client base in Sydney’s southern suburb of Caringbah.

Over the next 5 ½ years he set about building the business in terms of employee numbers, which now sit at six across the areas of administration, advisor support, and financial planning.   He also partnered with another advisor that specialised in areas that he didn’t cover.

The biggest challenge he faced when setting up his business was the financial adjustment of going from an employee to a business owner and the hours involved in getting the business up to speed.

As a strong believer in networking and keen to meet other small business owners and make contacts, Kade decided to attend PubBiz commenting that  “networking is one of the key things that has made me successful in the last five years.” His involvement with PubBiz also led Kade to take part in the Mastermind program which he also found to be a useful forum to discuss his business with other business owners.

In building Southern Advisory he was also keen to structure the business to bring down overheads. His advice to small business owners is to initially sub-lease some space in an office where the other organisation provides complementary services.

A quick look at the Southern Advisory website highlights a focus on providing clients with value. When asked about what value means Kade says, “Value comes down to understanding the client and working with them throughout the changes in their life, in turn leading to retirement.”

Kade’s plans to continue building the business include the purchase of another business as well as recently employing an associate planner, freeing up his time to concentrate on seeing his clients, business planning, and being able to spend time with his four children and pursuing his love of surfing.

Kade’s business building tips include:
  • outsource what you can so you can focus on the business
  • if you can keep overheads low it can be key driver of success
  • surround yourself with positive and trustworthy people
  • seek advice when you need it, don’t sit on your hands
  • every single person is an opportunity
  • don’t have preconceptions about people.

​If you are interested in becoming part of a Mastermind group as highlighted in Kade’s story, Realise Business is currently recruiting participants at various locations across Sydney.  You can find out more here.
Tags: business tips, client relationships, Mastermind, PubBiz, Tips for business success

Source: Realise Business

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Having a baby

14/3/2017

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New babies are a wonderful addition to your life. Planning ahead for parenthood can help you give your growing brood the best of everything...

The costs of raising a child
Children don’t stay small for long, and the costs you face in the early days, like nappies, bouncers and prams, can pale into comparison with the subsequent cost of raising teenagers.

Nonetheless, when two becomes three (or four, or five) you’re going to face additional household bills for food, clothing, energy consumption, and of course all the equipment a new baby needs from cots and car seats to bibs and bassinets. Remember too, taking holidays is likely to cost more in terms of fares and accommodation. And later on, you’ll face the expenses associated with giving your child a quality education.

Investing for your child
One of the best steps new parents can take to manage the financial aspect of parenthood is investing for their child’s needs. This can mean setting aside funds to cover school fees, a university education, or helping your older child buy a first car or even a first home.

Single and having a baby
Raising a baby on your own can be a rewarding though challenging experience. Remember too, if you are a single parent you may be eligible to receive certain financial government support. You may also be eligible to receive child support payments from your baby’s other parent.

Maternity leave and parental leave
If you are working, you may be entitled to maternity or paternity leave. It is worth letting your employer know at an early stage when you would like to start your maternity leave – some employers will stipulate the stage of your pregnancy you must begin maternity leave.

Aim to set a date for when you’d like to return to work also. This allows your employer to make arrangements for an interim employee.

These days it’s not unusual for both mums and dads to take leave, one after the other. By tagging your maternity and paternity leave this way, you both get to spend time with your baby, avoid child care costs and give your newborn the benefit of an extended period with mum and dad.

If you plan to return to work after the birth of your child, aim to make arrangements for child care at an early stage. It can be competitive to secure a spot in a centre near your home or workplace.

Government assistance for growing families
There are a raft of government support payments designed to help parents meet the costs of having a baby and raising their child. Be sure to apply early as it could take some time to be processed and for the payments to start coming through to you.

Private health insurance – does your family need it?
It is not essential to have private health cover, and many public hospitals offer excellent ante- and post-natal care. But if you prefer to have your own obstetrician or if you’d like to have your baby in a particular private hospital, it is worth reviewing your private health cover.

Be sure any policy you select meets your needs as a family. Many policies will let you cherry pick the services you most need at this stage of life. This means you are only paying for what you need.
Check out the government’s Private Health website for an ‘apples for apples’ comparison of different policies.
  

Life insurance - keep your family protected
The arrival of a new baby is a key life event, and that should always be a trigger to review your personal insurances.

Be sure to check you have adequate protection in place to provide for all your dependents if something were to happen to you. Remember too, to be sure your other half has up-to-date insurance cover.

Financial advice for families
Financial advice can be especially valuable for families. Whether you need help drafting a household budget or a complete financial plan to help ensure you can give your children the best opportunities possible, good financial advice can be a good investment.​

source: www.bt.com.au
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Getting Married

14/3/2017

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Making a commitment to share your life with another person is a significant milestone, and there is a lot you can do to manage your money as a couple.

Manage your money as a couple
The earlier you start having conversations about your shared finances, the easier it is to establish shared goals and strategies to reach them.

Single or joint accounts?
There is a variety of ways you and your other half can manage your combined finances. Some couples choose to keep their money entirely separate, others pool everything together, but for many couples it’s a case of achieving the best of both worlds by having individual accounts as well as a joint account - whatever works for you as a couple.

How much does a wedding cost?
The sky is the limit when it comes to weddings, and while Australians spend an average of $36,200 on their wedding, you could get away with far less – or spend considerably more. The key is to plan ahead and aim to pay for as much of your wedding as possible up front. The last thing you need is to head into married life laden down with debt.

Setting your wedding budget
No matter whether you want your wedding to be a blockbuster celebration with hundreds of guests or a small intimate affair, it makes sense to establish a wedding budget. Not only does this let you manage the cost of the wedding, it helps pinpoint areas where you could cut back to have a bit more to spend on other aspects of your special day.

Your wedding budget can also form the basis of your ‘to do’ list to ensure nothing is overlooked.

Tips to save for the big day
  • Make key bookings early - like your wedding venue and reception, and explore options of payment (e.g. pay the cost gradually, pay up front);
  • Lay-by your wedding gown or men’s attire - It’s a way to avoid interest charges. Or think about a pre-loved gown to enjoy big savings (after all, it’s only been worn once before!);
  • Consider holding your wedding on a weekday - You’ll pay far less for a reception than if you get married on a weekend;
  • Open a high interest savings account - It’s a great place for you and your partner to grow a wedding fund;
  • Ask friends and family to fund a particular aspect of your wedding in lieu of a gift - Small contributions quickly add up, like paying for invitations, or the groomsmen’s corsages. It makes your wedding affordable, and helps the people who matter to you get involved.

Changing your last name
If you plan to take on your spouse’s name, you will need to apply to the office of births, deaths and marriages in the Australian state or territory in which you were married. Once you receive your formal marriage certificate, be sure to notify your key financial institutions of your name change.

Personal insurance and health insurance as a couple
When you become a twosome, it’s important to look at some insurance. You may choose to take out health insurance as a couple. It could mean saving on premiums though be sure to check if any penalties apply if you bail out of your current health fund. Compare health insurance products at the Federal Government’s Private Health website.  

Be sure to review your personal insurance cover too. You need to be confident you both have sufficient cover in place to allow your other half to be financially comfortable if anything were to happen to you. This is especially important if you take on major commitments like a home loan or start a family.

Organise your will
None of us like to consider our own mortality – especially if you’re about to get married, but having an up-to-date will is essential when you are part of a couple.

Your solicitor is probably the best person to draft a legally binding will. It may not be a good idea to rely on do-it-yourself will kits as there is too much at stake if any aspect of your will is not legally binding.
Your superannuation is normally distributed directly to your dependents (e.g. spouse or children) after you die and does not form part of your estate. Thus where eligible, you should complete a binding death nomination and lodge it with your super fund to state quite clearly who you would like to inherit your super. Your will should still make allowance for your superannuation.
​
Saving for a honeymoon
It makes sense to start saving for a honeymoon as soon as you decide to tie the knot. This gives you more time to tuck money aside so you won’t have to turn to a personal loan or credit card to pay for your trip. 
Decide where you would like to go, compare prices for accommodation, airfares and other costs like dining out, day trips and souvenirs to arrive at a total cost for your honeymoon. Now, work out how much you need to set aside regularly to meet the cost before your head off. 

Consider seeing a financial advisor
Working with a financial advisor can be a great way to help understand each other’s financial goals. Contact Us for an obligation free consultation. We can assist you to create a joint financial plan that lets you work together to achieve your shared dreams. 

Source: www.bt.com.au

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Moving in together - Taking the next step, the smart way

13/3/2017

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Money and shared-living arrangements

Moving in with your partner can be an exciting stage in your relationship, but there are a few financial considerations to think about to help you both get the most out of your money and avoid problems down the track.

How will you split the expenses?
You’ll need to consider how you’re going to share the household expenses. Whether you decide to split everything equally or plan on keeping things separate, it’s best to get a clear idea from the beginning.

Have you thought about opening a joint bank account?
Setting up a joint bank account with your partner is a big commitment, but it can make it easier for couples living together, especially when there are shared expenses.

A joint bank account could:
  • make it easier to pay your household expenses (eg bills, rent, groceries and home loan);
  • lower the fees you pay (one account is generally cheaper than having two);
  • help you keep track of what you’re spending as a household;
  • help you save more by combining each person’s savings in one account and potentially earning more interest.
Remember, you can still maintain some financial independence by keeping other investments and credit cards separate from your joint account.

How joint bank accounts work:

Generally, you’ll be able to choose between two options - 
  • both to sign joint bank account - You can only take money out of the account when both people sign;
  • either to sign joint bank account - Money can be transacted by both parties independently of each other.
Make sure you consider any digital services when having a joint bank account. This can make it very easy to access money for any account holder.
 
Joining your finances
Sharing the responsibility:

If you’re moving in with your partner, you may want to consider getting both your names on:
  • household bills (eg electricity, gas and water bills;
  • the rental lease;
  • the home loan.
But you need to be clear that using both your names means you both take on full responsibility for the expense. So if your partner does not pay their share of the rent or home loan, you may be find you are liable for their share as well.

You should particularly be mindful of putting your name on a loan that will only benefit your partner - in case something was to happen and you’re left to pay the remaining debt.

Bringing it all together
Pulling together different aspects of your life could save you money now and for the future.

It may be worth considering:
  • bringing your private health insurance together - generally it’s cheaper on a couple’s plan;
  • your other insurance policies and whether you can get a family discount if you are with the same insurer as your partner;
  • consolidating your investments;
  • contributing to your partner’s super - if your partner doesn’t work you may be able to claim a tax offset for after-tax spouse contributions.​

Source: www.amp.com.au
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Investing and getting advice

13/3/2017

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Make your money go a long way

You don't need a lot of money to start investing - some people start with a small amount of savings they've built up, while others invest regular amounts. The key is to start and then keep adding to your investments as you can. A qualified financial advisor can help you make your money go further. 

Investing
It is important to be aware that investments can go down as well as up in value. It's also important to understand what you're investing in as well as some key concepts like risk and return and diversification.
Remember - don't put all your eggs in one basket and, in general, the higher the earnings or return you expect from an investment, the more risky it will be. Investments that offer lower returns are generally less risky.

How can a financial advisor help?
A financial advisor can offer information on a range of money matters, from personal budgeting and investing, to planning for retirement and protecting your assets with appropriate insurance cover. They can also help work through your finances if you have received an inheritance, are recently divorced, or have just lost a partner.

At Southern Advisory we recognise that everyone is different and how we can help you depends on your unique situation. Our clients have different reasons for coming to see us, and success means something different to each one. However, from our experience, we add value in these four ways:
  • Practical Value - In this day and age we are all pressed for time, our advice will save you time. Our strategies will give you the confidence and the discipline to succeed. We will streamline, simplify and manage your finances, and help you make the right decisions.
  • Intrinsic Value - We understand the latest rules and how they work. Our experience and expertise mean that we know how to explain all this to you in plain English. Look at it as leveraging our experience.
  • Financial Value - We will save you tax, protect your assets, manage and reduce your debts, help you accumulate wealth and make your money work harder for you.
  • Emotional Value - Our ongoing relationship means that there will be someone there to take care of it all. This means less stress, more peace of mind and the knowledge that everything is taken care of.

Achieving financial security is a long-term process and we believe that taking the time to find an advisor you feel comfortable with is imperative.

Fees and charges
Financial advisors can be paid in different ways. They can:
    •    Charge a direct, time-based consultation fee for service;
    •    Charge an asset based fee which is a percentage of the amount you invest through them.

At Southern Advisory, our initial consultation is free of charge and here we will make it clear to you how we charge for our ongoing advice and service. 
  
Avoid money sharks
Be very careful who you approach for advice about money. Anyone who promises an instant result or extremely high returns on an investment could be trying to rip you off. In the past, some investment scams have involved crooks fraudulently taking money from their friends or family. Knowing the person who offers you help is no guarantee that your money will be safe.

Investing your money can help secure your financial future. If you are thinking of seeing a financial advisor, please Contact Us for more information about our advisors and our services.

source:www.moneysmart.gov.au
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    Sean Thomas - Financial planner 

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