Managing risks is integral when developing your financial plan.  Effectively managing these risks provides you with protection against loss of assets, loss of your ability to generate income and support in managing unforeseen expenses.

 

Some risks can be avoided such as staying on the ground rather than parachuting out of a plane.  Other risks can be managed such as taking a diversified approach to your investment portfolio and others can be transferred by taking out insurances.

 

We work with you to develop appropriate personal and business protection solutions to meet your needs – protecting your wealth, your business and your family. 

 

A brief introduction to the types of events we can assist you in protecting include:

 

​

Personal Protection

​

• Protecting you in the event of death through appropriate use of Life Insurance.  This protection enables your beneficiaries (typically your family) to repay debts and allows you to provide for your dependants after the loss of your income.

​​

• Protecting you in the event of Total & Permanent Disablement.  This protection provides a lump sum to you to repay your debts, provides you with an income stream and makes allowance for medical expenses and/or home modifications.

​​

• Protecting you through a Critical Illness or Trauma Event.  This protection provides a lump sum to pay for specialist medical treatment, the cost of modification to your home or car and allows you to recuperate without financial stress.

​​

• Protecting your income by implementing appropriate Income Protection.  For most people, your ability to generate income is your most significant asset.  Implementing an effective Income Protection solution provides certainty of income in the event of sickness, accident or injury.

 

​

Business Protection

​

Along with protecting you and your family, the team at Elevate Advice Group are highly experienced in providing solutions to assist business owners protect their business needs. 

​

• Revenue or Key Person Protection protects your business in the event of loss of a person who significantly contributes to the profitability and stability of your business.

​​

• Debt Protection ensures the financial obligations of the business can be met in the event of loss of a Key Person.  Importantly it may allow a financier to release a personal guarantee, providing certainty for an outgoing director and their family.

​​

• Ownership Protection ensures the equitable treatment of all partners interests in a business.  It allows the outgoing partner to be compensated for their value in the business whilst allowing the continuing partners the flexibility to maintain control over the business on an ongoing basis.

​​

Whilst it is important for us to provide recommendations on your needs today, it is equally important for us to regularly review your strategy as your needs and objectives change.

​

​

Structure

​

There are several different investment structures to choose from, each providing a differing level of tax and asset protection benefit.  The most common forms of structuring assets are:

​

• Self-Ownership - Owning your investments personally is the simplest form of ownership.  Any income or capital gains are taxed at your marginal tax rate.  This ownership method does not provide any form of asset protection.

​​

• Superannuation - Superannuation is designed to accumulate your retirement savings in a concessionally taxed environment.  Assets held in this structure do provide asset protection benefits, however you are not able to access funds until a specific 'condition of release' is met.

​​

• Company - A company is a separate legal entity often used to run a business.  This can also be utilised for investment purposes and has the benefit of having a limited liability and a fixed tax rate.  Companies do not have entitlement to the tax-free threshold, nor are they entitled to utilise some Capital Gains Tax concessions.

​​

• Trusts - Trusts can take the form of a Fixed (or Unit) Trust, a Discretionary Trust or a Family Trust (a form of Discretionary Trust).  These structures provide asset protection in the event of death, divorce or bankruptcy and may provide flexibility in the distribution of income.  Trusts require distribution of income to beneficiaries each year with any unallocated income taxed at the highest marginal tax rate.

 

At Elevate Advice Group, we work with you to understand your goals, determine the most appropriate investments for you and work with your other professionals (such as accountants and lawyers) to implement the right strategy for you.