Financial Planning

Our financial planning team can provide you with a broad range of services to help you achieve your financial goals and objectives. BDJ Financial Services will develop a strategy to solve your wealth and risk objectives for the short and long term.

We have two senior financial planners, Bob Kolevski and Mark McGree, who can help guide you on your financial journey.

 

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Some of the services that BDJ Financial services offer include;

 

  • Wealth creation
  • Retirement planning
  • Superannuation
  • Personal insurances
  • Investment/Home loans
  • Estate planning
  • Tax planning
  • Budget cashflow management

 

Both Bob and Mark are Authorised Representatives of Apogee Financial Planning Limited, Australian Financial Services Licencee Registered Office at 105 – 153 Miller Street North Sydney NSW 2060 and principal member of the Financial Planning Association (FPA).

At BDJ our tax specialists and financial planners work together to deliver you an optimal outcome for all of your tax and financial needs.

 

Wealth Creation Strategies

 

We can assist clients to devise a strategy to help achieve savings goals, as well as investment and retirement objectives. Our planners can help clients through the maze of investment alternatives and make the most suitable recommendations for a client’s investment and taxation objectives.

We have extensive experience in the following areas:

 

  • Managed funds
  • Margin loans
  • Other forms of protected investment lending
  • Direct equities
  • Protected share loans
  • Property Trusts (listed and unlisted)
  • Instalment Warrants

 

Taxation Strategies

 

Taxation planning is critical year round and should not be left to 30 June. Careful consideration is given to taxation strategies throughout the year as client’s taxation positions unfold. Working closely with bdjpartners accounting staff, our financial planning division can propose a range of strategies that are designed to assist clients with wealth creation and reduce taxation.

 

Gearing Structures

 

Geared investments (or investments made using borrowed money) are generally designed to increase the potential for tax deductible expenses (such as interest costs). The ultimate goal of this strategy is for the assets purchased with borrowed money to create additional wealth. The assets purchased would normally be direct property or Australian listed shares. In many cases, protected share loans, protected managed fund loans and other structured products such as Instalment Warrants can be used to protect the borrower from the risk of capital loss.

 

Risk Insurance

 

Life & Total & Permanent Disability (TPD) Insurance

 

Life and TPD insurance provides a lump sum payment to beneficiaries in the event of the death or total and permanent disability of the insured. It can be either self owned or via superannuation (which makes the premiums tax deductible).

As part of the overall financial planning process, the protection of wealth is as important as the creation of wealth and ensuring that on’s family is protected from the financial consequences of the death or incapacity of a family breadwinner. We can assist clients to determine their insurance needs and provide advice in relation to the most appropriate insurance products.

 

Income Protection Insurance

 

While life cover will look after your family when you die, what happens if you can’t work because of illness or an accident and it’s going to take months to recover? Or maybe you can never work again and you’ve got school fees to pay, food to buy as well as mortgage or rent payments.

This is when you need income protection insurance, otherwise known as disability insurance. It’s estimated that an average wage earner will earn something like $4 million over his or her working life, so it would be fair to say that your income needs protecting a lot more than your home and your car. This is even more so given that at the age of 35 you are 10 times more likely to be disabled than die.

 

Trauma Insurance

 

If you’re diagnosed with a critical illness or crisis, trauma insurance can relieve your financial difficulties. Unlike income protection insurance, which is dependent on your inability to work, trauma cover is paid out on the diagnosis of a defined critical illness regardless of your working status.

Instead of receiving a monthly income stream, you are paid a lump sum that you can spend on whatever you like- medical bills, your mortgage, an overseas trip, even a new car. The insurance company makes no demands on how you spend the money. Trauma insurance is often an adjunct to term life policies.

 

Estate Planning

 

Most people prefer not to think about what happens when they die and put off planning for this situation. It is a very important issue to think about early and is an essential part of the financial planning process. Estate planning is determining how your assets will be divided on your death to ensure they are distributed efficiently and according to your wishes. Proper estate planning can reduce worry for your spouse and/or beneficiaries. All sorts of problems can occur if you have not planned your affairs properly.

It does not matter how small your personal wealth is, you should still ensure you have a current Will and plan your affairs. Appropriate estate planning can allow you to pass on your assets to your beneficiaries in a tax effective way and can minimise the effect of capital gains tax. As part of the process you should also check your superannuation funds and life insurance policies to see who you have nominated as your beneficiary and seek to make changes if necessary and possible.

Property and investments which are held as ‘joint tenants’ cannot be distributed through your Will. Ownership passes automatically to the surviving owner. If owned as ‘tenants in common’ your share in the property is distributed through your Will. You can buy a do-it-yourself kit and prepare your own Will. This may be cheaper but care is essential to ensure your Will is legally enforceable. The executor is responsible for carrying out your wishes after you die according to the instructions. You should choose someone you trust, who is responsible and willing to accept the responsibility. This person must be named as executor in your Will. You may appoint more than one person.

The product/services offered by BDJ Partners Chartered Accountants is not authorised by Apogee Financial Planning Limited and Apogee Financial Planning Limited is not responsible for the advice/services provided by BDJ Partners Chartered Accountants.