FAQ

Making the decision to see a Financial adviser for the first time can seem a little daunting.  Here are a few answers to some of the most common questions we receive.

 

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How to Choose a Financial Advisor?

All advisers are listed on a public register with ASIC. This register details the levels of experience and study that every financial adviser has attained. You can see the register here.

Advisers also are registered with an industry organisation. The 2 largest are the Association of Financial Advisers (afa.asn.au) and the Financial Planning Association of Australia (fpa.com.au). These organisations require their members to held to higher levels of account and binds them to act in a professional manner. The AFA and the FPA provide their members access to industry specific specialised courses, typically set at a master’s level. The AFA’s course is known as Fellow Chartered Financial Practitioner (FChFP) and the FPA’s is Certified Financial Planner (CFP).

We at SQIS have memberships with both organisations and Kent holds a CFP qualification.

What do I bring to my First Appointment?
What is Income Protection?

Income protection is an insurance that is used to cover income that is generated from personal exertion. That is, you cannot get income protection cover for income that is generated from a rental property.

Income protection pays up to 75% of the value of your income as well as superannuation payments.

Income protection is taxable income, that is, you pay tax on any payments that are made to you.

What happens to my Superannuation when I retire?

Once you have reached your preservation age you can access your super funds, this will depend on your year of birth. Use this preservation table to work out yours.   You have the choice of either accessing the money in one lump sum or you can choose to take a regular payment.

How much money do I need to have before I see a Financial Advisor?

There is no magic number that is required to see a financial adviser. Our clients come to see us because they are keen to win the game of money. There are people that are starting out on their pathway to financial freedom, people that are moving along the way and people that are in retirement. At each stage there are important foundations that we need to lay in order to get you on your journey and ensure that you continue on it. In short, we can help people in every stage of their life. Some stages need a lot of support, other stages not so much.

The magic to financial advice is starting on the journey. As the Chinese proverb says, the best time to plant a tree was 20 years ago, the second-best time is today.

What is the difference between an Account Based Pension and the Aged Pension

The Aged Pension is paid by the government, and is designed to provide income support to older Australian’s who need it. Your eligibility for the aged pension is determined by the income and assets tests.

An Account Based Pension involves the use of your superannuation funds to provide you with a regular and tax-effective income stream in retirement.

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