Issues & trends

What is the biggest issue for financial Planning in 2007?

Super changes - Get financial Planning advice without delay

For many people within sight of retirement, contributing large amounts to superannuation seems like an obvious solution. Although, those with longer to go until retirement could be excused for scepticism that the benefits are too generous and will not last.

The people who can most benefit are those who have access to large investment amounts from sale of a business or from sale of a property. However it is vital that investors seek professional financial advice prior to any sale to ensure you are aware of all the implications including the costs and tax payable.

With business real property and most listed securities there is the opportunity to transfer such investments into a super fund. While capital gains tax is payable by the selling entity and any such investments must meet the investment strategy of the fund, this can be preferable and cheaper to having to find new investments.

There is a real danger with changing from one asset class to another, for example selling a property, contributing the proceeds to super and investing in highly priced or speculative companies. The danger being that a long term tax benefit of superannuation could be outweighed by a sustained fall in share prices, therefore, getting the right advice on risk and diversification is vital to preserving long-term retirement capital.

What are the top questions from clients?

Will you give me advice that is suitable to my needs and financial circumstances?
Yes, but to do so we need to find out your individual objectives, financial situation and needs before we recommend any financial products or services to you. You have the right not to divulge this information to us, if you do not wish to do so. In that case, we are required to warn you about the possible consequences of us not having your full personal information. You should read the warnings carefully.

What should I know about the risks of the financial products or strategies you recommend to me?
BDO Kendalls Financial Planning will explain to you any significant risks of financial products and strategies that we recommend to you. If we do not do so, you should ask us to explain those risks to you.

Am I entitled to examine my file and what information is kept by the adviser?
BDO Kendalls Financial Planning maintains a record of your personal profile that includes details of your investment objectives, financial situation and needs. We also maintain records of any reports, file notes, calculations and recommendations made to you.

We are committed to implementing and promoting a privacy policy which will ensure the privacy and security of your personal information. A copy of our privacy policy is enclosed for your information.

Please contact us if you would like to examine your file and we will make the necessary arrangements for you to do so. These records are strictly confidential and will be made available to legally authorised persons only.

Can I specify my instructions to the adviser to buy and sell my investment?
You may provide us with your preferences on how transactions are to occur.

Does BDO Kendalls financial Planning have professional insurance?
BDO Kendalls Financial Planning has Professional Indemnity insurance to cover the professional risks of providing advice.

How is BDO Kendalls financial Planning kept up-to-date with the investment advisory services industry?
BDO Kendalls Financial Planning is provided with extensive information on investments and how investment managers are performing through research provided by one of the leading research houses in Australia. BDO Kendalls Financial Planning only selects investments that have been vigorously analysed and approved.

In addition, our advisers are also required to maintain continuing professional education by attending seminars, workshops and undertake ongoing education. BDO Kendalls Financial Planning predominantly concentrates on long term strategic advice and does not provide advice on derivatives and general insurance.