Holistic advice that is tailored to suit individual circumstances.
Hayman Private Wealth is structured to provide comprehensive & holistic financial advice that is tailored to suit individual circumstances. We offer these services to our clients through the Hayman Private Client Service Offer. Some of these services are outlined below.
Core Services
Data Gathering
This process commences in the first meeting and may take a number of meetings to ensure we have sufficient knowledge of your circumstances to prepare appropriate recommendations.
Identifying your Goals
Everybody is different so it is necessary that we clearly identify your specific goals and objectives, both personal and financial. This includes considering goals such as your desired level of income, asset growth objectives, future capital expenditures, estate planning wishes, liquidity, accessibility and inflation protection.
Identifying your Financial Issues
In this step we compare your goals with your current financial situation and formulate a strategy to ensure your goals are achieved.
Preparing your Financial Plan
This written document becomes the blueprint for your overall strategy. Having established your goals and objectives and assessed your overall financial situation, taking into account your risks and aversions, this plan will outline the recommended strategy necessary to achieve your desired goals.
Implementing your Financial Plan
Once the recommendations are agreed the plan is implemented.
Reviewing your Plan
This is the most critical part of the financial planning process. We live in a world of constant change and this is certainly no different in the sphere of financial planning. There are three important variables in a financial plan that are guaranteed to change over time:
Markets
Irrespective of where you choose to invest the appropriateness of that investment will change over time. All areas of investment are subject to change, whether it is interest rates, share prices, exchange rates or rental yields. A "set and forget" philosophy is, at best, likely to underperform over time and at worst it could be disastrous.
Legislation
There is no question that the legislative environment will constantly change going forward. History has shown us that we can expect a regular upheaval of superannuation, tax, social security and estate planning laws on a regular basis. Such change necessitates regular changes to a financial structure to ensure that it always remains appropriate.
Personal
Major changes in personal circumstances are less frequent but can often be the most critical. Sometimes they are welcome such as a new family member or a promotion. Sometimes not welcome, such as a redundancy or the death of a family member. Such changes usually necessitate an immediate and significant change in the financial plan.
The vast majority of our clients are approaching, or well into retirement. Our advice helps them both in the time leading up to this major life event in helping them set up the most effectives financial arrangements, facilitating cash flow and pensions in retirement and ensuring they pay the appropriate amount of tax and obtaining any government benefits they may be eligible for. We find this is incredibly comforting and reassuring to them that they have someone looking out for them.
Because of our backgrounds we are able to provide a seamless service in advising on the need for a SMSF or other structure, assist with its establishment and ensure it meets all of its ongoing obligations from a compliance point of view.
We saw the need to provide a one stop shop for our clients so through a wholly owned related entity we offer full accounting services to our clients. We lodge well over 300 tax returns annually through our Tax Agent Registration and prepare financial statements and tax returns for SMSF, Trusts and Company’s if required by our clients. All staff in this business are qualified Chartered Accountants with an average experience of 15 years.
Specialty Services
Working with some of Australia’s leading estate lawyers we develop personal strategies that minimise taxes & maximise wealth transfer. Protecting assets for future generations.
Protecting your assets, income & lifestyle requires appropriate structuring of ownership & insurance protection. We partner with leading risk providers to help you achieve these outcomes.