Nexus was approached by a local WA couple in their early 60’s to help them achieve some high priority goals and objectives which were :
Nexus offered a complete Private Wealth Financial Planning services strategy in the six key areas of:
In order to identify, construct and deliver high level advice, our advice process covered 4 major stages where we were able to confirm actions and ensure accountability from all parties, resulting in the best outcomes for our clients.
We recommended that the couple refinance their current mortgage which meant a new loan at a lower interest rate. This saved them approximately $2107 pa. It was also recommended that they use their surplus cash flow to increase the loan repayments to pay off the loan sooner and utilise a mortgage offset account which would enable them to draw on fund when needed.
A rollover of existing super benefits was done to ensure the super funds would be invested into a product that suited their needs. Further self employed super contributions were made into their existing super which would increase their super and reduce income tax.
Personal insurance changes were put in place which would help reduce the financial impact on the couple as well as their family in the case of the unforeseen.
Their wills, binding death nominations and reversionary beneficiaries were reviewed and updated, as well as an Enduring Power of Attorney and an Advance Health Directive was created.
Today, the couple enjoy certainty for themselves, their assets and the people most important to them