Wealth Advisory

Investment Planning

Save first to invest

A great way to start is to complete a budget planner to assess where your income is going and to establish if you have a possible surplus that can be turned into savings. A rule of thumb is to have at least three months of future income saved before looking to invest on a regular basis.

Managing inheritance or a financial windfall

A sudden financial windfall can be life-altering event. You may come to a sudden financial windfall through a lottery winning, divorce, by an inheritance or even as a gift. Whatever the reason and as good as it sounds, it comes with its share of problems and won’t always be easy to manage.

A sudden change in your financial situation can mean a change in your income position, assets and even your lifestyle. Be sure to reach out for professional guidance to manage this change so that you are able to maximize a great opportunity to build financial security for your future.

Things to consider

Understand your situation Financial windfall can come in different forms and it is important to understand the nature of your own individual situation. You need to be aware of considerations such as tax, legal matters and procedures that apply to your financial windfall.

Plan for your future It may be a little difficult to see anything beyond the short term with a significant financial gain but it’s important that you do. Before you spend your newly acquired wealth, be aware and make allowances for any legal, tax and other expenses associated with it. Speak to a financial professional to gain advice on how to best use your wealth to strike a balance between achieving short term and long term goals. Don’t lose site of long term goals as once you’ve spent this wealth, you are likely to be back where you started. Spend wisely and work with a professional to achieve the best outcome.

Consider your investment strategies Your short term goals may address some immediate needs whilst your long term goals may be linked to your retirement planning and other matters with less urgency. It’s important to identify the investment strategies based on the timeline and horizon for the investment. Different investment vehicles hold varied levels of volatility, which determines the liquidity of the investment. There may also be tax and legal considerations to address with different types of investments.

Reach out and ask for guidance around these matters from a qualified professional such as a financial planner.

Consider the effect on estate planning

A financial windfall or inheritance will most definitely change your position with any estate planning strategies you may have in place. Review and update your wills, beneficiaries and trusts to make sure they continue to remain effective with the addition of the new found wealth.

Ask to be referred to professionals

It’s important to seek professional advice to assist you with your tax, legal and other financial matters. Speak to your financial planner about being referred to other professionals such as a solicitor and an accountant. It’s important that we all work together on your situation so that it is handled as smoothly and efficiently as possible.

We maintain your investment records including sales, purchase and income records. This includes your capital gains tax records. We will provide you with regular reports such as half yearly summarising your portfolio performance as at 31 December and 30 June. We also provide you with reports at your six monthly review. Any changes made to your investments will be documented to you in the form of a record of advice referring back to your initial statement of advice.

You will have 24/7 access to your portfolio via our continuous online portal to help keep you up to date with market movements.

Ensuring all administration is in order

We offer a complete Portfolio Service, removing all the complex paperwork, be it corporate actions, dividends, voting rights or tax implications arising from your portfolio. Each financial year you will receive a comprehensive summary of all information required for your tax returns. We maintain a record of all transactions, including additional investments and withdrawals and trustee minutes if needed.

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Red Lion Wealth Advisory Pty Ltd

47 High Street, Bendigo VIC 3550
PO Box 401, Bendigo VIC 3552

ABN: 26 625 235 216

John Archibald, Lucy Hateley & Red Lion Wealth Advisory are authorised representatives of Lonsdale Financial Group Ltd
ABN: 76 006 637 225 AFSL: 246934.

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