Will my Adviser change?

There will be no change to your adviser because of Charter Towers merging with the Lifewealth Group. We believe the increased scale that will eventuate from this acquisition will enable us to provide the same level of care and service in to the future.

Will my investments and investment platform change?

The merger will have no impact on your current investments.

How will the increased size affect the personalised service I am receiving?

A key strategic focus for both Lifewealth and Charter Towers is to ensure the level of personal care and service we provide should not be negatively impacted as we grow, and we remain focused on retaining our client relationships and personalised offering. The increased size of our combined team of twenty people, and the internal efficiency gains we expect to achieve, are all intended to underpin our continued personal service and advice.

Will my fees increase?

There are no Charter Towers fee increases because of the merger with Lifewealth Group. We will continue to review the cost of your service package annually as we do today. The same will apply to your tax and accounting.

Will the Charter Towers investment research methodology be different?

There is no change to the investment research methodology that Charter Towers currently employs. We firmly believe that our existing investment methodology is robust and we will continue to monitor in accordance with this method, whilst welcoming the additional market outlook and analysis we will access from the Lifewealth research process and Investment Committee.

Will there be a change of Licensee?

Yes, In accordance with our merger with Lifewealth Pty Ltd which we recently announced, we will be changing Licensee for the purpose of providing financial services to our clients. This will mean that, with effect from 1^st June, 2017, we will operate under Lifewealth Pty Ltd, and will cease to be an Authorised Representative of Lonsdale Financial Group Ltd.

From 1^st June, 2017 Lifewealth will be responsible for all future advice and activities undertaken in relation to the financial services provided to our clients. The financial services will be provided under the name of Lifewealth Pty Ltd and we shall provide you with a Financial Services Guide setting out details relating to the new licensing arrangements.

Will the merged entity still do my tax returns?

Your tax and accounting will continue to be completed by LifeWealth Group inclusive of McCutcheon Bell clients. LifeWealth Group also specialises in tax accounting and self-managed super funds. There is a team of four qualified accountants and also support staff that you will gain access to due to the merger.

Will I be better off as a result of this merger?

The merger will see both firms combine staff and expertise to provide a more comprehensive service to our clients across financial planning, tax and accounting. The Lifewealth Group will have more advisers providing an increased breadth of service, broader range of skill sets and enable us to continue meeting the demands and challenges of ongoing legislative changes in all areas of investing, retirement, insurance, estate planning, taxation advice and aged care services amongst our other advice offerings.

We are focused on maximising the time our financial advisers and accountants spend with you and we believe adding Charter Towers to the Lifewealth Group will support this goal.

I have access to my investments online with a password, will this change?

There will be no change to passwords or logins because of the merger.

When will all this occur?

The merger itself will take effect on the 1st June, 2017. In the short term, Charter Towers will continue to operate from their office in South Yarra before transitioning in to the Lifewealth William Street office in the coming months.

Thinking about retirement but not yet ready to take the leap?

More Australians are considering putting off their retirement and working for longer. The most common factors influencing Australians on when to retire are personal health or physical abilities (40%), financial security (36%), and reaching the eligible age for an old age or service pension (15%)*.

Whatever the reason, many individuals choose to phase into their retirement rather than moving into full retirement. This option provides a number of benefits and you can make this transition the start of a rewarding and happy retirement.

*Source: Australian Business Statistics, Retirement and Retirement Intentions, Australia, August 2004 to June 2005

Things to consider

Planning for your future. You may choose to phase into retirement because of financial security, because you are not ready for the sudden lifestyle change or because of both reasons. It’s vital that you share this decision with your financial planner in order to ensure that appropriate strategies are in place to extract the best outcome of this change in your life. For example your financial planner can build a transition to retirement strategy into your retirement plan that may lead to a considerable amount of tax savings in the long term, thereby increasing your retirement savings. Of course, whether this could be suitable to you will depend on your unique situation and needs, so you will need to discuss this in greater detail with your financial planner.

Consider your options. Through discussions with your financial planner, consider your options around reducing your work hours. You may wish to continue working, however at a reduced number of days or hours to allow some freedom in your lifestyle. Talk to your employer about your plans and find out about the options available to you. Even if your company does not offer this option, this would be a good opportunity to discuss a win win solution for both your employer and you.

If you are self employed, you may need to start thinking about your succession plan. Do you wish to hand over more responsibility to a family member or will you need to consider an external source to step in either as an investor or as an employee? It’s important to structure the best solution that will deliver the best result for your retirement plans. It’s important you seek professional assistance with these matters to ensure ultimate results with value, tax and legal matters.

Review your financial position. As part of your retirement planning, be sure to review your current and desired position with your finances. Understand what you can achieve and work with a financial professional to find strategies to boost your retirement savings if necessary.

Evaluate your lifestyle needs. Another part of your retirement planning process is evaluating your lifestyle now and for the future. It’s important to discuss how you would like to manage your lifestyle in retirement and ensure sufficient retirement savings are in place to support this. At times, you may need to compromise and come to a middle ground on your expectations for the future.

Prepare yourself for these changes and talk about your future now.

Get ready for the change. You must be prepared for the change. You will have extra hours and days to spend on other things other than work. Make plans and prepare yourself for this change. You may like to consider and think about hobbies and pastimes you would like to begin. It’s important to stay active as this can help you with your physical and mental well being. Connect with your community and friends who may be going through a similar experience. The whole purpose of retirement, whether you are phasing or jumping straight into it, is to start reaping the benefits of your years of hard work. Remember to enjoy life and have fun taking the first few steps towards your retirement.

Some helpful resources

The Australian Government website provides a range of information about phasing into retirement including a host of links to other sites with useful information.

http://www.australia.gov.au/topics/employment-and-workplace/retirement

Centrelink provides information for people who are retired or who are planning their retirement. There’s plenty of information around pensions, allowances, concession cards, loan schemes, claim forms, assessment for residential aged care and a range of specialist services.

www.centrelink.gov.au

Seniors.gov.au is the Australian Government’s premier source of information for Australians over 50. Seniors.gov.au provides older Australians with information on health, lifestyle, care, finance, work and their legal rights and entitlements, information around community history.

www.seniors.gov.au

About Seniors offer access to a range of information around health and well being, travel, wealth and plenty more.

http://www.aboutseniors.com.au

Call us on 03 8825 5500 for an appointment to discuss how we can work towards your financial and lifestyle needs during this important stage in your life.

Losing a job can leave you with a great deal of uncertainty. Whether it is sudden and unexpected or known in advance, it’s never an easy experience. In recent times, a wave of job losses have impacted a large number of Australians with the unemployment rate currently sitting at 5.7%*

Losing a job can disrupt your daily life. It affects your career, finances, personal relationships, self image and confidence. Unemployment does not discriminate against the different class levels and can be experienced at any stage of your life.

*Source: Australian Business Statistics March 2009 Key Figures

Things to consider

Look after your health. Losing a job is one of the hardest experiences you will deal with in your career. Most people who have gone through this experience find it impacts their confidence and self esteem in the workplace. Take the time to deal with the situation and reach out to your family and friends to express how you feel.

The silver lining in this situation is that now you have a greater opportunity to find a role that will best suit your ambitions and goals. It’s important to remember that a job loss can lead to a better chapter in your life.

The immediate reactions. Be aware of the immediate changes that may affect you. You will find particularly where it is an unexpected job loss, the immediate step to maintaining security would be to reduce spending and being more careful with your expenses. This can be a hard and frustrating process for you as well as your family.

Stay positive and remind yourself that this is a short to medium term solution. However it is important to plan and understand your cash flow and have a budget in place that you and your family can live with. Even though losing a job can be a hindrance to your finances, some simple planning around your spending and savings will ensure it doesn’t lead to a financially crippling event.

Have a plan. Once you have done some soul searching about the job loss and where you are in your life, think about what you’d like to achieve from your professional life and put a plan together to achieve it. Be sure to keep a routine and continue to stay focused on the positives. Even though you don’t head out to work every day, have a plan each day to dedicate time to work related activities such as getting your resume updated and searching for new roles. It’s important to have work related activities in your daily routine so when the time comes to get back in to work you’ll be able to make a seamless transition from being unemployed to employed again.

Take a minute to reflect. You’re probably going to experience an entire host of emotions through this experience and it can be overwhelming. Take a minute and do something just for yourself. You may not know what lies ahead of you but use this as an opportunity to take charge and control of the course of your career.

Starting the search. Starting to search for a role can be a little bit like dating again just after a relationship, especially if you were in your last role for a long period of time. Keep your search going and make a proactive effort. Keep an updated and current resume, network and learn new skills that might provide you with a unique strength in your area of expertise or interest.

Severance package. The majority of employers offer a severance package to their employees when making their roles redundant or retrenched. A severance package may include, notice of termination or payment in lieu of the notice, wages for hours worked, payment for accrued annual leave and any accrued long service entitlements. If you are not familiar with matters such as the taxation treatments of the payment, be sure to seek professional advice to achieve the optimum outcome with the monies you receive.

Some helpful resources

Job Watch is an independent, not for profit, employment rights legal centre. It provides free confidential telephone information and referral service and other assistance to Victorian workers.

http://www.jobwatch.org.au/

Australian Workplace provides job seekers, employees and employers with information about finding a job, starting work and workplace issues.

http://www.workplace.gov.au/workplace/

First30days is a site that assist individuals with life changes with hints and tools to get you through the first thirty days of different life changes.

http://www.first30days.com/losing-your-job

Working Today is a dedicated site to assist you with queries or problem about work.

www.workingtoday.com.au

Seek is a career advertiser who also provide resources around resumes, interviews and even salary packages, hosting a large amount of tips/tools for career planning.

www.seek.com.au/career-resources

Call us on 03 8825 5500 for an appointment to discuss how we can work towards your financial and lifestyle needs during this important stage in your life.

A sudden financial windfall can be a life altering event.

You may come to a sudden financial windfall through a lottery winning, divorce, by an inheritance or even as a gift. Whatever the reason and as good as it sounds, it comes with its share of problems and won’t always be easy to manage.

A sudden change in your financial situation can mean a change in your income position, assets and even your lifestyle. Be sure to reach out for professional guidance to manage this change so that you are able to maximise a great opportunity to build financial security for your future.

Things to consider

Understand your situation. Financial windfall can come in different forms and it is important to understand the nature of your own individual situation. You need to be aware of considerations such as tax, legal matters and procedures that apply to your financial windfall.

Plan for your future. It may be a little difficult to see anything beyond the short term with a significant financial gain but it’s important that you do. Before you spend your newly acquired wealth, be aware and make allowances for any legal, tax and other expenses associated with it. Speak to a financial professional to gain advice on how to best use your wealth to strike a balance between achieving short term and long term goals. Don’t lose site of the long term goals as once you’ve spent this wealth, you are likely to be back where you started. Spend wisely and work with a professional to achieve the best outcome.

Consider your investment strategies. Your short term goals may address some immediate needs whilst your long term goals may be linked to your retirement planning and other matters with less urgency. It’s important to identify the investment strategies based on the timeline and horizon for the investment. Different investment vehicles hold varied levels of volatility which determines the liquidity of the investment. There may also be tax and legal considerations to address with different types of investments. Reach out and ask for guidance around these matters from a qualified professional such as a financial planner.

Consider the effect on estate planning. A financial windfall or inheritance will most definitely change your position with any estate planning strategies you may have in place. Review and update your wills, beneficiaries and trusts to make sure they continue to remain effective with the addition of the new found wealth.

Ask to be referred to professionals. It’s important that you have a professional to assist you consider tax, legal and other financial matters. Speak to your financial planner about being referred to any other necessary professionals such as a Solicitor and an Accountant. It’s important that all these professionals work together on your situation so that it is handled as smoothly and efficiently as possible with a single outcome in mind; to help you.

Some helpful resources

Moneysmart is an Australian Government initiative to help Australians increase their financial knowledge and better manage their money.

http://www.moneysmart.gov.au/?referrer=understandingmoney.gov.au

The Australian Tax Office website provides a great deal of information under Individuals that may assist with any questions you have around taxation of your recently acquired wealth.

http://www.ato.gov.au/individuals

Sudden Money is a manual for individual and families who have come to experience a sudden financial gain and how to deal with the emotional roller coaster that comes with it.

Sudden Money: Managing a Financial Windfall by Susan Bradley and Mary Martin

Call us on <insert number> for an appointment to discuss how we can work towards your financial and lifestyle needs during this important stage in your life.

Throughout Australia, a very high number of people have insurance for their possessions – their cars, houses, boats and even their furniture.

Income protection, however, protects the most important valuables – you, your family and your ability to earn income.

 Be protected and be in control.

Your financial planner can give you a full list of available protection as well as any further information you may require on premiums. Protect yourself, your family and your future and enjoy peace of mind.

There are over two million people of working age in Australia with a disability potentially impacting on their ability to work. That’s 13% of the population.*

Every working Australian has a one in three chance of becoming disabled for more than three months before reaching retirement age.

Workers compensation will only cover you for accidents or injuries that occur during work hours or for an illness that is a direct result of your employment.

These facts are real and so is the risk.

Kathryn was 38 and was working as a marketing manager when she broke her arm while playing volleyball. Her arm was placed in a full cast for two months, and during this time she was unable to drive, meet with clients or work effectively at the office.

Despite Kathryn having two weeks of holiday pay and two weeks of sick pay, she still had four weeks where she was without an income. With living expenses, medical bills, and her mortgage, Kathryn found herself to be greatly out of pocket. Although she had insured her car, house and furniture, Kathryn had failed to insure her most important valuable – her ability to earn income.

A financial planner could have provided Kathryn with a full suite of available protection to safeguard herself and her family from the consequences of being out of income for a number of weeks.

Most people have two remuneration options:

• The standard remuneration position – 100% of income is received while you are well and able to work. When you’re not able to work, you get 0% of your income.
• The alternative remuneration position – you effectively receive around 98% of your income while you are well and able to work.

*Source: Zurich Financial Services Australia.