Our principles are:
- To advise in your best interest
- To be clear about your goals (the ENDS)
- Investments are only the MEANS not the ENDS
- Only use those MEANS relevant to your goals
- Be mindful of risks
- SUPPORT you over the years to make sound financial decisions and avoid the big mistakes
- Be vigilant-Revise, Review, Amend where necessary
The secret to successful financial management is first and foremost being financially well organised. It also involves knowing what you want to achieve and that’s where we spend effort to understand what it is you want or need and to help clarify what will give you the freedom to live the life that is meaningful to you.
The same approach is followed in all cases but at differing levels of depth according to what’s in your best interest and the issues you are facing now. As you face certain issues, such as protecting your family, buying a house, dealing with children’s education, redundancy, superannuation and investments, we are there to help.
So we have identified three ways in which we find people need our help.
Deal with Immediate Issue
The first is by helping with the matter at hand. The thing on your mind at the moment. This is commonly superannuation matters, redundancy, or inheritance, imminent retirement, or some such matter.
So we provide one-off advice on this issue but in the context of a broader framework we have determined as all financial decisions need a context for a proper solution and are rarely, if ever, solved in isolation. Most money matters are connected.
This is just charged as a flat fee for the advice, but may involve investments such as super which need to be managed and a fee for that exercise is determined.
You see, at Nestor Wealth Advisory we are convinced that our best service to you is to work with you over time to help make many sound financial decisions that will achieve many of the things you want in your life and eliminate those you don’t want.
When Life is more involved
Usually a single issue leads to another being solved or at least introduced as a matter needing resolution in the near future.
It may be that you want to borrow to invest and this would put you at some risk unless we looked at the need for income protection insurance for example. Or it may be salary sacrifice into super and the issue of tax savings becomes relevant.
When this happens people often need an ongoing service to monitor the progress of such matters and review investments regularly to ensure they are on track. So we measure the achievements against the desired outcome.
Fees for ongoing advice are determined according to what it is that you need.
Complexity is a Part of Most People’s Lives
As mentioned above, we have found that one issue of concern can lead to the identification of several elements to a solution which require the management and achievement of several goals. Such is the way with most people and they tend to grow into this form of ongoing need for our services.
So, we make sure that you understand that we are firmly focused on the ENDS, that is the goals you want to achieve, and that we only recommend strategies and investments that are geared to those ends. The strategies and investments, tax planning etc. are the MEANS and we help manage those elements but only in the context of achieving something bigger.
All investments should have a purpose. No investment is an end in itself.
We do not believe that all people should have SMSF’s, share portfolios, investment properties, or any other investment just for the sake of it or because it is trendy. The means we recommend for you depends on what we are trying to achieve and once clearer about that, the choice of “tools” becomes clear.
Again, most of our clients choose to have us manage their affairs in a variety of ways so that the whole fits together in a coherent plan. This happens not only before Retirement, but afterwards as well because then issues such as longevity, Age Pension, Age care, Estate planning, and others, come into play.
You only pay for what you use and in this complex area this might involve managing and Reviewing the strategy and goals as well as some of the means we are using to get there.