TBW Group - Financial Planning

Introduction
Financial Plan
Superannuation
Retirement Plan
Insurance

Who We are?

Gainmist Pty Ltd As Trustee For Premium Class Rewards Trust ABN 44 754 150 971 ASIC Number 290105 is a Corporate Authorised Representative of SENTRY FINANCIAL SERVICES Pty Ltd., ABN 30 113 531 034 AFS Licence 286 786.

About Your Adviser
IAN BAKER FCA, B.Ec, SA Fin, FTIA, MLB (Tax), CFP, SAA

Your adviser Ian Baker (the Authorised Representative 237726) is an employee of Gainmist Pty Ltd as trustee for Premium Class Rewards Trust.

Ian has been a chartered accountant for 30 plus years, has a Masters in Tax Law as well as being a registered company auditor He has been a financial planner for over 10 years and his significant business experience and tax knowledge has proven to be invaluable to many financial planning clients.

Relevant financial planning qualifications include that Ian is a certified financial planner CFP, a SMSF specialist adviser SAA, a FPA member, and a senior associate of Finsia SA Fin

His special interests in financial planning are self managed super funds and financial planning strategy advice

•  Ian Baker is a specialist Self Managed Super fund adviser (SPAA adviser specialist) and    can help ensure your funds comply with superannuation laws. Ian has knowledge of
   SMSF strategies such as gearing via instalment warrant s, reserving and transitions
   to retirement.
•  Investment choices may be secondary to financial planning strategy advice. In this area a
   qualified adviser should be able to add most value to their clients rather than investment
   product selections.

For more information click here to read the current Financial Services Guide.

As an authorized representative of Sentry, I can offer a range of insurance, investment, superannuation and retirement strategies and products I am confident I can offer you comprehensive advice and competitive pricing.

What initial services are provided

Identification of your financial goals and objectives
Collection and analysis of your existing personal and financial situation
Investigation and consideration of possible financial planning strategies an products that will assist you to meet your goals and objectives
Presentation of a written recommendation, referred to as a Statement of Advice
Implementation of your strategy

For further details go to our processes and fee structures.

TBW Accounting & Consulting Pty Ltd

TBW Accounting & Consulting Pty Ltd is a separate and independent accounting firm from Gainmist Pty Ltd. The accounting business of TBW Accounting & Consulting Pty Ltd is not related to Sentry Financial Services. The director and shareholder of TBW Accounting & Consulting Pty Ltd is the same director and shareholder of Gainmist Pty Ltd

Risk Product Research

Research into recommended risk products is provided by Proplanner software.

We offer a FREE Initial, No Obligation Consultation!

Contact us today for a no obligation and cost free, initial introduction to our financial planning services. This free introduction will not include specific financial planning advice or a Statement of Advice, but will help you decide whether the services we offer are right for your needs.

Gainmist Pty. Ltd. ATF Premium Class Rewards Trust ABN 44 754 150 971 ASIC Number 290105 provides financial planning advice as Corporate Authorised Representative of Sentry Financial Services Pty. Ltd. ABN 30 113 531 034 AFSL (286 786)

Please refer to Gainmist Terms & Conditions when using the financial planning sections of the website.

Introduction

Financial planning involves the development of a plan to assist people to meet their personal and financial goals. The process allows people to achieve life goals through the management of their financial affairs. Life goals can include buying a home, saving for children's education, managing debt and/or planning for retirement. While financial planning is seen primarily as a personal process for individuals and couples, where applicable, it is often integrated into small business planning.

Your Life

No matter what stage you're at in life, whether you are young or retired, have children or own a business, or are just approaching retirement, it's never too late to start taking control of your financial life. We can help you plan ahead, create wealth and get you to where you want to be...

Why clients do not plan
	Thinking they have insufficient assets or income to warrant planning;
	Assuming their financial situation is in good order;
	Putting off what may be perceived to be complex and worrisome;
	Not wanting to consider unpleasant events, such as death, disability, unemployment or property loss; and
	Thinking that financial planning is expensive.
All these assumptions are questionable.
The downside of not planning can include:
	Inadequate protection against personal catastrophes such as death, disability, serious illness, automobile accidents, prolonged unemployment, or other major negative events;
	Too little money set aside for retirement or for the family's educational needs;
	Higher than necessary taxation;
	Unplanned estate planning consequences; and
	Not reaching financial goals in life

Few people have a clear understanding of what their real financial needs and objectives are, and even fewer people have a clearly defined strategy of how they intend to satisfy their financial needs and achieve their financial objectives.

The longer you delay your financial planning, the harder it can be to achieve your long-term goals. So don’t put it off.

As professional financial planners we follow the requirements of the Australian Securities and Investments Commission (ASIC) as well as the Financial Planning Association (FPA), both of which state the importance of "knowing the client" prior to giving any investment or financial planning advice. The reason for this is simple. Unless we understand your present circumstances and future goals, together with your Risk & Return Profile, we cannot provide you with meaningful advice. We therefore have a formal financial process with several steps: Please contact us for further details and information.

Superannuation

Is your superannuation fund doing what you want it to do? Flexibility is the key to unlocking the potential of your retirement nest egg.

Superannuation is one of the most attractive vehicles to invest your money for the long term because of the large tax benefits and concessions available. With tax legislation and investments changing rapidly, having someone to help you look after your nest egg is the sophisticated approach to managing your money.

Our advisers assist you with ways to best maximise growth of your superannuation funds and to minimise tax and expenses including fees. Advisers have an important role to play in maximise investment performance and saving tax for you We have a vast array of fund managers and products to choose from.

With modern life placing more pressures on the individual to make complex decisions, Gainmist Pty Ltd (ATF Premium Class Rewards Trust) and Sentry Financial Services can guide you to an investment decision with greater confidence. Ian Baker is a certified financial planner (CFP). In additions to investment decisions technical knowledge is crucial to maximising the value of your fund for example knowing the current contribution rules is essential to gain the correct tax treatment. We design and tailor strategies to help maximise your opportunity for growth and income.

Ian Baker is a specialist Self Managed Super fund adviser (SPAA adviser specialist) and can help ensure your funds comply with superannuation laws. Ian has knowledge of SMSF strategies such as gearing via instalment warrant , reserving and transitions to retirement These strategies can be considered if appropriate for your individual circumstances.

We design and tailor strategies to maximise your opportunity for growth and income. With modern life placing more pressures on the individual to make complex decisions, our financial planning associate Gainmist Pty Ltd and Sentry Financial Services can guide you to an investment decision with greater confidence.

Clients will be guided into appropriate superannuation choices such as:

		Simple Pooled superannuation funds.
		Self managed superannuation fund plus wholesale investment funds.
		Discretionary Master trust funds and wrap accounts plus wholesale investment funds.
		Individually managed accounts (IMA's).
In addition, Gainmist Pty Ltd and Sentry Financial Services can assist clients in important services such as:
		Consolidation of superannuation funds.
		Tax effective strategies.
Speak with an adviser today to see how we can assist you in managing your superannuation better.

Retirement Planning

Our Financial Planning services take the confusion of finding your way around when you head towards retirement. What are the best ways to make my money last longer when I retire? What taxes are there that I can avoid?

To answer these questions, call us and let us show you how the simple way to retire comfortably or deal with redundancy packages.

The Gainmist Pty Ltd and Sentry Financial Services are specialists in the complex area of retirement planning. Along with superannuation fund advice, we provide solutions for retirees on ways to minimise taxes that affect their retirement income and to maximise the life of their investment assets. We make the retirement planning process simple. Having too many financial and life issues to consider at retirement can be stressful. Let us show you how to retire with greater confidence knowing your future is assured with financial security.

We can deal with the issues that can include choosing:


	Income streams,
	Social security entitlements for family members,
	Social security issues in relation to nursing home and residential aged care issues, and
	Tax issues in retirement.

Risk Insurance

Risk Insurance planning should be an integral part of every financial plan.

For most Australians the need to protect themselves and their family from the adverse financial effects of an accident or illness should be a high priority

There are four broad categories of insurance that should be considered:

Term life;
Total and permanent disability;
Income protection

Protecting your income

Income protection Cover is a complex area, in which not only costs vary, but more importantly, the actual definitions and features of a policy are somewhat different.

The rates for income protection vary substantially from one insurer to the next; however this often has no bearing on the actual quality of the cover offered.

Properly selected and structured, income protection cover will ensure financial independence in the unfortunate event of being unable to work for an extended period of time due to illness or injury.

This type of insurance provides you with a regular source of income should you be unable to work for a period due to sickness or injury. You can generally insure for up to 75% of your earned income.

Term Life

Death cover leaves your beneficiary (ies) a lump sum to help cater for their financial well-being. This will give you the peace of mind of knowing that those who depend on you will not be financially disadvantaged with the burden of maintaining living standards or making loan repayments.

A term life insurance policy is the most inexpensive form of cover, which will payout in the event of death. Your don’t need debts to have Life Assurance as there are other considerations such as school funding needs for children, possible Capital Gains Tax liabilities resulting from your death, spouse’s future lifestyle, business protection, etc… Modern term policies generally are very competitive and, provided adequate cover is taken, ensure the survivor’s future lifestyle is not in jeopardy

Total and Permanent Disability Insurance

Total and Permanent Disablement (TPD) cover pays a lump sum should you become totally and permanently disabled through illness or injury. TPD can create an adverse financial burden, preventing you from earning an income at a time when you may have ongoing and other expenses eg. Medical and/or rehabilitation.

Your family also suffers from your disablement both financially and emotionally. By helping to ease financial concerns, TPD benefits go some way towards softening the effects on you and your family.

To be classified as TPD two things must occur:

The life insured must suffer an injury or sickness; and
The injury or sickness must result in total and permanent disablement.

It is important to note here that there are different definitions of TPD for different insurers. Most importantly, it relates to the definition of what work you are not able to perform. The broadest definition offers the best cover.

You have to carefully examine the definitions of TPD in the policy. However, you need to be aware that some definitions are as follows:

Totally disabled from undertaking any occupation for which the insured is suited by reason of training, education or experience.
Totally disabled from undertaking usual occupation.

Trauma insurance

Critical Illness insurance is proving to be extremely popular for professional and self employed clients

Trauma insurance offers protection by providing a lump sum payment in the event of your being diagnosed as suffering from one of a range of specified medical conditions (eg. a heart attack, cancer, or stroke). The lump sum payment can be used to avoid financial stress during the period of recuperation where items such as home modifications and specialist medical attention may be necessary.

Essentially, trauma insurance provides a lump sum payment for those who suffer a major health trauma as defined in the relevant policy. Serious illness in the relevant policy may include-

Heart Attack
Chronic Kidney Failure
Stroke
Paraplegia or Quadriplegia
Malignant Cancer
Multiple Sclerosis
Coronary Artery By-Pass Surgery
Blindness
Major Organ Transplant
Terminal Illness

Today’s technology and advances in medical science means that your chances of surviving and living a full life after major illness are far greater that they have ever been. Statistically, there is a significant chance of suffering a major health trauma. People between the ages of 30 and 60 are more likely to suffer a serious illness than die. For example, each year more than 30,000 Australians suffer a heart attack – half will survive! More than 40,000 people are likely to be stricken with cancer – 55% will live for at least 2 years! Surviving these illnesses is great, but what about the financial consequences?

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