Wealth Management

Wealth management for families - how Findex can help

Matthew Swieconek
7 March 2023
7 min read

8 March 2023

Living in a fast paced world with the everyday pressures of supporting your family is hard enough as it is. But when you add on the need to assess the state of your family’s financial health - both now and well into the future - well, that can be outright overwhelming.

The result? It just doesn’t get done. Time is of the essence and life is hectic. However, fast forward a few years and you may regret not having made more time to look at what family wealth management means and the benefits of having long-term financial advice.

Financial advice for the whole family

Everyone’s needs are unique. Therefore, wealth management for families not only means coming up with a plan for the collective needs of the family unit, but taking a closer look at the financial needs of each of its family members as well. Seeking the help of an experienced financial adviser is a good place to start as they are able to provide valuable family wealth education.

Here are some other areas in which a financial adviser could help:

  • Protecting your future. Arguably the most important asset you possess is your ability to work and continue earning an income. But what if the unexpected happens and you get injured or there’s a change in circumstance that hinders your earning ability? A financial adviser can help you prepare for the unexpected through assessing your insurance needs.

  • Personal wealth as a business owner. A financial adviser can assist you with superannuation strategies and cashflow modelling, and can also work with business advisory professionals to help facilitate a tax effective outcome for you in the event you wish to sell your business.

  • Rising inflation and the impact on your investment strategy. Financial advisers are there to guide you during periods of uncertainty and have a range of tools available to them to assist you with the projection of your investment values and cashflow modelling. These can help you to stay the course towards your long-term goals and objectives.

  • Preparation for retirement. Retirement is a critical stage of life, and it's essential to plan to ensure that your retirement years are worry-free. Preparation involves ensuring you have enough set aside to live the life you desire, being able to offer some financial assistance to children and grandchildren, and protecting any legacy you may leave behind.

  • Retirement income strategies. When it comes to retirement, there are many different strategies to consider. Financial advisers can help you determine which strategies are appropriate for your situation. For example, does an Account-Based Pension make sense for you, or is there a benefit from combining this with an Annuity that may gain you access to a part Age Pension? Further, what level of risk should you be taking with your investment portfolio at this stage of life? Some people prefer to reduce their investment risk, while others are happy to take a more aggressive approach as part of a multi-asset strategy. Understanding each strategy, what it provides, and how it works is essential to making the right decision for retirement.

parents in a meeting

Benefits of working with Findex

No matter where you are in your career or life, it’s always the right time to consider if your money is working as hard as it could be. Our team of Wealth Management experts have extensive experience in providing strategic financial advice and portfolio construction and can help create a roadmap for your family’s financial future.

  1. Our Family Office approach. We provide you with a single point of contact to oversee your affairs and work collaboratively with others from within the business to provide uniquely tailored solutions for you.

  2. Tailored financial strategy. Our team works with you to create a customised wealth management strategy tailored to your needs and goals. We listen, assess and design solutions to help you reach your goals.

  3. Expert advice from certified professionals. Our team comprises certified professionals with the knowledge and experience to provide you with trusted advice. We understand the complexities of modern finance and the importance of providing reliable and up-to-date advice.

  4. Responsible investment with ethical considerations. We know how important it is to invest responsibly and ethically. Our team considers environmental, social and corporate governance factors when making investment decisions, ensuring that your investments align with your values.

Types of services you can expect

Retirement planning

We help our clients create tailored plans based on their needs, lifestyle goals, and retirement objectives. We provide a range of services that help our clients manage their finances throughout the life cycle of their wealth journey, from the accumulation phase to retirement.

This typically involves understanding how much it costs to live throughout retirement, when you plan to retire, and how to generate income and use your available assets to reach your retirement goals.

Tax planning

We provide personal, corporate and trust tax planning and advice. We help our clients understand the features of available tax reliefs and deductions to minimise their overall tax liability.

Our team consists of experienced professionals who understand the local, state and federal tax codes. We can offer comprehensive strategies so that you pay no more tax than necessary.

Estate planning

This involves putting in place plans to ensure that your assets are distributed as you wish after you have passed away. Our estate planning services are tailored to help our clients protect their hard-earned wealth and ensure that it is transferred to their beneficiaries in the most tax-efficient manner. We advise how to set up wills, trusts, joint ownership and other related instruments.

We also assist with probate applications, insurance policies and charitable donations. By understanding your family's goals and objectives, we can tailor a plan to ensure that your financial legacy is safe and secure.

Insurance planning

We provide tailored insurance advice and solutions to help our clients protect themselves and their families against financial losses due to unforeseen circumstances. We offer a range of services, including life, disability, accident, health and long-term care insurance.

Our experts will review your current policies and personal needs to determine the most suitable coverage option for your life stage and situation. We advise how to structure policies to ensure you receive the maximum benefit from them.

Investment strategies

We provide a range of investment services and strategies to help our clients grow their wealth and reach their long-term financial goals. Our team consists of experienced professionals who can create tailored strategies that look at each client's short, medium and long-term objectives.

Our comprehensive services include portfolio construction and review, asset allocation, discounted cash flow analysis and other related services. We can advise you on the appropriate solutions by understanding your needs, goals, and risk profile.

Couple researching together

Getting in touch with us

At Findex, we understand that family wealth education can be a daunting task, and so we are here to guide you every step of the way by providing services like wealth management for families, which offers tailored solutions to suit your family’s specific needs.

Our knowledgeable yet approachable team will work with you and your family members to ensure that your wealth is managed effectively and efficiently now, and when the time comes to transfer any residual wealth onto the next generation, keeping your legacy secure.

To contact us, submit this form and a member of our Customer Success team will be in touch to match you with a financial adviser most suited to your wealth management needs.

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Author: Matthew Swieconek | Head of Investment Relations