Are you fortunate enough to have applied for and been granted an Investor Retirement Visa (Subclass 405) or have rolled over your current visa for a Subclass 410 Investor Retirement Visa?
LifeTime Financial Group has specialised in the provision of ongoing Financial Planning advice and management to wealthier Australians for more than 30 years and Investor Retirement Visa holders more recently. Our planners who specialise in the ongoing management and guidance of our Investor Retirement Visa clients are fully accredited and hold all relevant qualifications including the coveted CFP designation.
Unlike Banks and Financial Planners licenced through them, LifeTime Financial Group is licenced through Advice Evolution and Advice Evolution Pty Ltd is 100% privately owned.
All of our Investor Retirement Visa clients have come to us because they require advice and guidance from a trusted organisation that has their best interests at heart and is free of any undue influence. We are able to provide advice and guidance on both Superannuation and Investments held either personally or via other entities. None of our investment advice carries any commission entitlement either.
This means our solutions are designed to ensure our client's investment income and growth needs are met in a transparent and easy to understand way at a very competitive price.
We do not believe Managed Funds are appropriate for our client's investment needs. We believe Managed Funds are;
- have a range of fees that are difficult to quantify,
- can use naming protocols for their funds that don't reflect their actual characteristics and
- often require investment via a platform that applies a range of fees over and above the costs of the investments themselves.
All of our services are deliverable on our platform. This platform delivers everything you would expect including;
- online access should you wish to view the position of your assets when it suits you
- monthly reporting on your holdings, performance and asset allocations
- online view of your cash accounts to view all regular transactions including our fees, Dividend income, contributions and taxes (where there are required to be paid from the cash account)
- detailed reports for your accountant to assist in preparing the tax return
We generally use two vehicles for managing our wealthier client funds.
Self-Managed Superannuation arrangements where appropriate and Directly Held Investment Portfolios for all assets held outside of Superannuation. Importantly, all assets are held in your name. We do not use any facility that holds your assets on your behalf (Custodian arrangements which are common across wrap platforms and some stockbroking services). This ensures you have access to and control over all of your assets at all times because you own the asset itself.
We pride ourselves on being completely transparent. As such our fees are easy to understand. You don't need to attend a meeting to get a feel for our fees. We have outlined these in general terms for you here.
In the normal course of becoming a client of LifeTime Financial Group, you would expect to fund the following fees;
- Prices range from $3,300 for a more straight forward set of circumstances through to $12,100 for the more complex strategies.
- Research into your personal circumstances, and development of a strategy suitable to your needs taking into account your appetite for risk and a range of other factors
- Preparation of your formal advice documentation
- Implementation of the recommendations is more difficult to illustrate as this could involve trust deeds and Sole Purpose Trustee Company for Self-Managed Superannuation...
- Depending on the complexity, this could be between $1,540 and upwards of $8,800. We will be able to provide an accurate idea of the costs of this aspect at the time of our meeting and better understanding your needs.
- Brokerage costs will also apply. Again, this isn't quantifiable at this time for obvious reasons. We note for the record that Brokers will charge between 1.1% and 1.65% with some charging significantly more. We keep our costs well below 1.1%
Your own ongoing advice and guidance requirements will determine if you need this service. We do note clients who take up this service benefit significantly. Both in terms of performance but also in developing a better understanding of what it is they are invested in and the thought processes supporting our recommendations.
Unlike Financial Institutions, we don't base our ongoing service as a % of the Funds under management. We base our costs solely on the anticipated delivery of the services you require. In most cases, engaging us to provide ongoing advice and guidance is less than you would think. Again, this will be discussed and quantified when we meet.
There are ongoing management fees for the administration of your investments. Again, these costs are based on service delivery rather than Funds under management and are generally significantly cheaper than other platforms.
Why not get in touch.
There is no cost for an initial meeting. We find this is the ideal time to get to know each other. After all, we could be working together for quite some time.