Combination of financial , retirement planning, and business strategic
Some of the most successful results we have seen with clients have come about as a result of coordination of business strategic planning, personal goal setting and financial planning. It is impossible for us to provide detailed strategic advice on business/retirement outcomes without considering all aspects of business owners’ personal situation. This includes their personal goals, retirement & lifestyle considerations and issues as well as a complete analysis of their financial position including structures, investments, liabilities, risk, assets and increasingly self-managed superannuation.
In our initial review of the business we assess risk and ultimately the current valuation and more importantly – the potential valuation after working with our advisory team to reduce risk levels and incorporate some strategic planning outcomes into the business model – we can then determine how this asset (the business) contributes to the lifestyle and financial planning goals of the business owner and their family and what needs to be done to address any gaps or shortfalls.
We have recently launched several new joint ventures as a part of this process with partners who specialise in accounting and tax advice, HR and related issues, legal services and strategic advisory to ensure clients are surrounded by a dedicated team of experts in various areas that contribute significantly to the business outcome.
Importantly, this process cannot be done overnight and again we see the most successful results where clients allowed significant time to undertake this process with coordinated advice.