Superannuation is probably the most important investment most Australians will ever make, yet many investors still have little knowledge of how it works, what opportunities it offers for our future and how we can best take advantage. This guide aims to give clients a basic understanding of the different types of super strategies.
If your clients are considering becoming a Self-Managed Super Fund (SMSF) trustee, having an understanding of how managed accounts work, and the role they can play in an investment portfolio, may help you in providing better advice.
If you have a wide client base, it’s likely that you see people from a variety of professions. It’s worth taking the time to consider the nature of your clients’ occupations to see if there is a specific type of protection designed for them. Alternatively, you might find that your clients employ someone, or have someone in their family with a special role that may need more tailored insurance solutions.
A Future Insurability Benefit (FIB) may be available on both income and lump sum life insurance policies. The benefit allows the insured monthly benefit or lump sum insured to be increased upon certain life events, without medical underwriting. Financial evidence will still be required to justify the increase in the insurance cover.
Almost a third of an Australian financial planner’s time is spend on compliance and administration, compared to a global average of less than 20% highlighting the need for advisers to find more efficient ways of operating. Core data in their report Adviser efficiency: Business Processes in Australia reach the conclusion that if advisers can find a way to reduce some of this administrative burden, it has a tangible impact on the profitability of their business.
How do you balance the need to invest for growth whilst protecting clients against the kind of losses that can derail their retirement plans? Wrap Capital Protection can be a suitable solution. View case studies outlining strategies to help clients manage risk, approach retirement and receive a minimum benefit.