Frequently Asked Questions
We help your clients make smarter financial decisions.
Why would I refer my clients to you?
The financial planners of Central Coast Wealth Advisors have been in the financial planning profession since 2005, supporting clients through the Global Financial Crisis (GFC) & the recent Global Pandemic, to become one of the Central Coast’s leading financial planners.
At Central Coast Wealth Advisors we are committed to providing support to your clients to ensure they make the right financial decisions so they can live life on their terms.
We take the time to understand where your clients want to go & ensure they understand the options to get there.
Our team are able to help you achieve your goals, no matter what stage of life your clients are at or what their goals are.
Central Coast Wealth Advisors are knowledgeable, experienced and passionate about helping the people of the Coast take control of their financial future.
What will you do to help grow my clients business & do the right thing by my client?
Our advisors take the time to understand what’s important to our clients & tailor a financial plan to suit their individual circumstances & financial goals.
A simple step by step approach is undertaken with each new client.
The process for each client is as follows:
A meeting is undertaken to discuss the areas of financial planning the client needs advice on & scope what areas of advice that we will focus on
Information is collected & the cost of advice is discussed up-front
The client’s goals & current financial position are clearly defined.
The best options in light of their financial position are considered & written recommendations are provided.
We discuss & agree upon those recommendations
We show the client how to take advantage of the features & benefits of financial strategies & products.
Our recommendations are implemented.
Before we provide any financial advice the client will receive a copy of our Financial Services Guide which details what services we may offer & the detailed costs.
We discuss ongoing service options with clients to ensure they receive a service package that is going to support their ongoing needs.
We help the client to stay motivated & focused to reach their financial goals.
Before we get started, we let the client know any costs up front & the payment options (whether they will be paying personally, via a business or via superannuation).
What are your client values & how do you rate client service?
Our client values are simple, in that we are focused on inspiring & supporting our clients to take action to ensure they are in control of their financial future. Our staff are committed to ensure that clients are valued. We turn the complex into the simple & proactively communicate with our clients to maintain close, long term relationships. This is underpinned by trust & loyalty creating an environment where clients become advocates.
Case Study: First Time Home Owner
Pete and Emma are a married couple in their late 20’s without kids
They have been saving for the past 2 years to purchase their own home in Lake Macquarie.
They have no debts or liabilities at the moment & have a $50,000 deposit.
Pete is employed full-time as a Sales Rep earning $85,000 pa
Emma works as a nurse at John Hunter Hospital earning $80,000 pa
Pete has $50,000 in Super, Emma has $15,000 in super
Peter & Emma are looking at getting engaged, married and starting a family.
However, they are a bit nervous as to whether they can afford everything and the process of buying a home. They are looking to hire an expert team to implement their plan to provide them with the peace of mind.
Emma wishes to have the financial security of their own home before settling down.
Pete & Emma are in two minds whether to financially stretch themselves further and buy a home for the next 10-15 years or consider something smaller, that would be more comfortable for them both financially, with the idea of renovating and moving on to their dream home in 2-3 years.
Pete & Emma feel assured they can step into the next stage of their life. They have a clear structure and plan to move forward and have the assurance that if anything goes wrong in the future, they are adequately covered & the financial future of their family is secure.
Case Study: Starting a family
Steve and Stacey are a married couple in their 30’s
They have recently got married & purchased their first home.
They are looking at starting a family – put want to ensure they are financially prepared.
Steve is self-employed builder earning $150,000 pa
Stacey works as a real estate agent earning $70,000 pa
Steve & Stacey are recently married & are looking at starting a family.
However, they are a bit nervous as to whether they can afford having a baby & want to know all the these they should consider before they start planning.
Pete & Emma feel assured they can step into the next stage of their life. They have a clear plan to start a family with the assurance that if anything goes wrong in the future, they are adequately covered & the financial future of their family is secure.
Case Study: First Time Property Investors
Glen and Kate are a married couple in their late 40’s without kids
Have an existing home loan and plenty of equity in their home. Their home is worth about $740,000 and they owe $40,000
Glen is employed full-time as a Sales and Distribution manager earning $85,000 pa
Kate works part-time in retail earning $20,000 pa
Glen also has $200,000 in Super
Glen and Kate talk about how they are keen to start investing but they are conservative people and believe property may be the safest investment option.
Glen and Kate feel assured they can step into the next stage of their life. They have a clear structure and plan to move forward and have the assurance that if anything goes wrong in the future, they are adequately covered. Both our companies are able to assist Glen and Kate with the implementation of the investments.
Case Study: Family Separation /Divorce
Bob & Emily are a married couple in their late 40’s with 2 kids
They are getting a divorce
They have an existing home loan and plenty of equity in their home.
Their home is worth about $750,000 and they owe $250,000
Bob is employed full-time as a doctor at John Hunter earning $500,000 pa
Emily works as a high school teacher earning $110,000 pa
Bob has $500,000 in Super, whereas Emily has $150,000
Bob & Emily have been receiving counselling and have sought legal advice for a family separation.
Bob & Emily feel assured they can step into the next stage of their life.
They have a clear structure and an individual plan to move forward.
Case Study: Business Partnership
Harry & Larry are in a business partnership together
As their business has continue to grow over the years, they want to know what other steps they should be taking to ensure their plumbing business is protected, should something happen to either of them.
The business is valued at $2m
Harry & Larry want to ensure that their families are looked after should one of them pass and the remaining shares of the business be passed to the surviving business partner.
Harry does not particular want to be in business with Larry’s wife. And Larry does not want to be in business with Harry’s new fling, should something happen to them.
Harry is as happy as Larry now that they have a shareholder agreement in place, outlining what is to happen should they exit the business, via death, illness or injury.
They have a clear structure and plan moving forward & will continue to review their buy/sell agreement and associated insurance policies as the valuation of their business increases.
Client Case study: Small business owner needing a SMSF
Chris (60) married to Rosemary (59) both own and work in a business with 6 other employees
Together they have a combined income $400,000 and superannuation balances approximately $900,000
They are currently renting their business premise from an unrelated third party
Significant personal insurance in already place, their children are grown-up and leaving the family home
Chris and Rosemary mentioned that they did not have control of their superannuation fund and were particularly interested in buying a business premise for the business to rent back. As they effectively become the landlord this would provide them with greater certainty and comfort about the future direction of their business. They were also frustrated with their retail super fund – both its performance and administration fees.
As a result, a SMSF could be established with the client able to purchase a business property that will accommodate their business.
Along the way the administration and investment costs were significantly reduced. In the end, there was significant opportunity to assist, with superannuation contributions, rent from the business premises & an investment strategy (which includes other assets) to meet their retirement goals, Chris & Rosemary will be well positioned for a successful retirement.
Chris and Rosemary into a successful retirement.
When is financial advice needed most?
Our Newcastle Advisors are able to help your clients achieve their goals, no matter what stage of life they are at or what their goal is.
Some examples of when our advice is most needed are when your clients are:
planning to get married,
getting divorced,
starting a family,
saving for a property deposit,
buying a property,
looking for a job,
starting your own business,
expanding your business,
funding your children’s education,
get promoted at work and are paying more tax,
struggling to repay debt,
looking to streamline and simplify your financial affairs,
needing to consolidate debt,
worried about the financial security of your family.
Submit questions - referrals to Matt
