Financial Planning North Lakes

Total Business Partners refers our clients to our trusted business partners. These partners specialise in specific areas of financial expertise, such as investment management, insurance, or estate planning. By leveraging their expertise and working in collaboration with them, we ensure that our clients receive holistic and tailored solutions to meet their unique financial goals and objectives. This referral to our trusted business partners allows us to extend the scope of our services and provide our clients with well-rounded financial planning experience.

Please visit our pages for financial planning in Brisbane, Sunshine Coast and Redcliffe.

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Our Financial Planning Services Include:

  • Assessing your financial situation
  • Identifying your goals
  • Understanding your current actions
  • Developing financial recommendations
  • Delivering financial recommendations
  • Putting recommendations in place
  • Monitoring progress
  • Updating if necessary

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Learn More about Financial Planning

What is financial planning?

Financial planning is an important component of running a successful business. We can assess your current finances, financial strategies, and overall goals to see if they are attainable when developing a financial plan. It is critical to be able to see a complete picture of your business model and/or personal financial situation. This way, we can take action to promote long-term, medium-term, and short-term growth.

Understanding your finances

It is critical to determine how much capital you have available for any financial plan. To do so, we must consider all of your financial information, such as:

  • Income
  • Expenses
  • Cash flow
  • Savings
  • Employee and government benefits
  • Assets
  • Taxes
  • Liquidity
  • Liabilities
  • Estate plans

Determining your goals

We must help you set achievable goals for your business once we have determined your financial circumstances. To determine what success looks like for you, we must first answer a few questions, such as:

  • What is your preferred time frame for your goals? E.g. short-term or long-term.
  • What is your risk tolerance?

Once we’ve determined what goals you want to achieve, we can determine whether they’re realistic.

Creating a financial plan

Choosing which business goals to pursue is one thing; actually achieving them is quite another. This is why we will assist you in determining whether your current course of action is sufficient to achieve your financial objectives. If your current goals are unattainable, we will work with you to set more attainable targets for your company. Once your objectives have been established, we can begin to make recommendations that we believe will assist your company in meeting its objectives. After receiving these recommendations, you are free to make an informed decision about whether our options are a good fit for you.

Putting your financial strategy into action

Once you have reached an agreement to proceed with your financial plan, you will begin with implementation. This can be difficult at first because potential plans may deviate from practices you are used to; however, in order to have the best chance of success, agreed financial plans should be followed through on.

Monitoring progress

Financial planning is implemented to ensure that your company is heading in the right direction and on track to meet its objectives. As time passes, we will gain a better understanding of how your business is progressing, and we will be able to make changes to your plan as needed. This could be due to changes in your personal life or changes that are required as a result of evidence in your results.

What to look for in a professional Financial Planner in North Lakes

If you are looking for a professional financial planner in North Lakes, it’s important to find someone who is reliable, trustworthy, and experienced. A good financial planner can help you achieve your financial goals and plan for the future. However, with so many financial planners to choose from, it can be challenging to know where to start. By considering the following factors, you can find the best financial planner to meet your needs and help you achieve your financial goals.

Expertise: Look for a financial planner with expertise in the areas you need help with.

Qualifications: Choose a planner with relevant qualifications and accreditation.

Experience: Find a planner with extensive industry experience to guide you through various financial situations.

Communication: Choose a planner with excellent communication skills to ensure clear and concise explanations of financial strategies.

Costs: Consider the cost structure of a financial planner and ensure it aligns with your budget and investment goals.

The different types of financial planning in North Lakes.

Total Business Partners can help you achieve your financial goals through comprehensive financial planning in North Lakes. Our team of experienced professionals can guide you through retirement planning, investment planning, tax planning, estate planning, insurance planning, and business planning to help you achieve financial security and success.

Retirement Planning

Retirement planning is an important aspect of financial planning, and our team of expert financial planners at Total Business Partners can help you create a retirement plan that meets your retirement income needs, investment strategies, and tax implications. We can discuss the different types of retirement accounts available in Australia, and provide guidance on how to maximise your retirement savings.

Investment Planning

Investment planning is essential for achieving your financial goals, and our team can help you create an investment strategy that aligns with your risk tolerance and financial objectives. We can discuss the different types of investments available, including shares, property, and managed funds.

Tax Planning

Tax planning is an integral part of financial planning, and our team can help you reduce your tax liability and increase your after-tax income. We can provide guidance on tax-efficient investment strategies and other tax planning opportunities to help you achieve your financial goals.

Estate Planning

Estate planning is crucial for protecting your assets and ensuring they are distributed according to your wishes after your death. Our team can provide guidance on creating an estate plan, including creating a will, setting up trusts, and naming beneficiaries.

Insurance Planning

Insurance planning is also important to protect your financial well-being in the event of unexpected events. Our team can provide guidance on selecting the right insurance policies to suit your needs.

Business Planning

For business owners, business planning is crucial for success. Our team can provide guidance on creating a business plan that considers your financial goals, market analysis, cash flow projections, and growth strategies to help your business thrive.

Financial Planning FAQs

What is financial planning?
Financial planning enables you to evaluate your current finances, financial strategies, and overall goals to determine whether they are attainable. Essentially, you want to be able to paint a complete picture of your business model and how it will succeed.
What are the 7 financial planning steps?
There are several approaches to addressing a financial plan; however, we prefer to assess and implement them in seven stages. They are as follows:
  1. Assessing your financial situation
  2. Identify what you would like your goals to be
  3. Identifying whether your current course of action is efficient
  4. Developing financial recommendations
  5. Delivering financial recommendations
  6. Putting recommendations in place
  7. Monitoring progress
What is the goal of financial planning?
The overall goal of financial planning is to ensure that you have enough capital to achieve your objectives. If this is not the case, we can assist you in reassessing your goals and implementing a long-term strategy to potentially achieve your initial objectives in the future.
How do I know what financial goals to set myself?

Total Business Partners can assist you in achieving your business objectives. However, before we can achieve our goals, we must first define them. Many different questions must be asked in order to determine which goals you want to achieve.

We may consider the timeline of your accomplishments, such as where you want to be in 5, 10, or 20 years. What is your level of risk tolerance? Are you willing to take a cautious approach? There are numerous ways to ensure that your objectives are met, and Total Business Partners can assist you in determining which ones to pursue.

Is there continued monitoring of finances?

Without a doubt! With our financial planning services, we will always stay on top of your finances and ensure that your plan is on track. Our service includes monitoring and updating your financial plan over time.

If we believe that changes are required to ensure the continued success of your financial model, we will investigate how to do so. Financial models can be modified over time to accommodate changing economic conditions and your personal circumstances. Total Business Partners is here to assist you every step of the way.

What are the 3 basic tax planning strategies?

There are numerous ways to plan your taxes; however, the three most common methods are:

  • Reducing your income
  • Taking advantage of tax credits
  • Increasing tax deductions

These three pillars of tax planning are critical to making the most of your money. For example, when it comes to tax planning, adjusted gross income is arguably more important than gross income. AGI (adjusted gross income) is what remains after making adjustments such as repaying student loans or contributing to superannuation. You can also reduce this figure by making financial decisions such as saving for retirement.

What is a good rate for a financial planner?

As a business owner, finding a financial planner who can help you achieve your financial goals is crucial. The cost of a financial planner can vary based on their level of experience, the services they provide, and the complexity of your financial situation. Typically, financial planners charge a percentage of assets under management or an hourly rate. A good rate for a financial planner depends on your unique needs and circumstances.

It is important to find a financial planner who is transparent about their fees, has a track record of success, and can provide tailored advice to help you achieve your financial goals. This is why, at Total Business Partners, we offer our services to ensure that your financial planning in North Lakes is comprehensive and puts your business on the right track for success.

What is the difference between a financial planner and a financial advisor?

The terms “financial planner” and “financial advisor” are often used interchangeably, but there are some differences between the two. A financial planner typically takes a more comprehensive approach to financial planning, focusing on long-term financial goals and developing a detailed plan to achieve them. They may also offer ongoing financial advice and portfolio management.

A financial advisor, on the other hand, may focus more on specific areas of financial advice, such as investments or retirement planning. It’s important to understand the qualifications and services of any professional you work with, whether they’re a financial planner or advisor, to ensure they’re the right fit for your needs.

Sunshine Coast Financial Planning location

North Lakes Financial Planning location

View our selection of additional services that we offer in North Lakes to promote success.

At Total Business Partners, our motivation comes from seeing our clients succeed. We strive to deliver the highest level of service and are Xero certified accountants with expertise in structural business planning and financial management. Our exceptional services are offered throughout North Lakes and the wider Brisbane region, plus, the beautiful Sunshine Coast.

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