Financial Planning Sunshine Coast & 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, Redcliffe and North Lakes.

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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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Our friendly team is always ready to answer any questions you might have regarding financial planning in Sunshine Coast, click here to leave us a message.

Learn More about Financial Planning

What is financial planning?

Financial planning is a key element of running a successful business. When creating a financial plan, we are able to assess your current finances, financial strategies and overall goals to see if they are achievable. It is important to be able to see a comprehensive picture of what your business model and/or personal financial situation looks like. This way, we can take action to promote growth in a sustainable manner for the short, medium and long term.

Understanding your finances

It is important with any financial plan to determine how much capital you have available. To do so, we must take into consideration all of your financials, for example:

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

Determining your goals

Once we have determined your financial circumstances, we must help you to decide on achievable goals for your business. In order to decide what success looks like for you, we must answer a few different questions such as:

  • What is your desired time scale for your goals? E.g. short-term or long-term.
  • What is your overall risk tolerance?

Once we have determined what goals you would like to achieve, we can then move on to whether they are feasible.

Developing your financial plan

Deciding what business goals you would like to achieve is one thing but actually achieving them is quite another. This is why we will help to ascertain whether your current course of action is adequate to achieve your financial goals. If your current goals are not achievable, we will help you to determine more reachable targets for your business. Once your goals are set in stone, we can start to offer recommendations that we believe will help your business achieve your targets. Once these recommendations are given, you are free to make an informed decision about whether our choices are a good fit for you.

Implementing your financial plan

Once an agreement has been made to go ahead with your financial plan, you will then start with the implementation. This can be difficult at first as potential plans may deviate from practices that you are used to; however, in order to have the best chance of success, agreed financial plans should be seen out.

Monitoring progress

Financial planning is put in place to ensure that your business is moving in the right direction and aiming towards reaching your goals. As time goes on, we will start to get a better picture of how your business is progressing and we can implement updates to your plan if need be. This may be due to changes in your personal life or changes that need to be made due to evidence in your results.

Financial Planning FAQs

What is financial planning?
Financial planning allows you to assess your current finances, financial strategies and overall goals to see if they are achievable. Essentially, you want to be able to draw a comprehensive picture of what your business model looks like and how it will succeed.
What are the 7 steps of financial planning?
There are a few different ways to address a financial plan; however, we like to assess and implement them in 7 stages. These are:
  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 objective of financial planning?
The overall objective of financial planning is to ensure that you have the right amount of capital to achieve your goals. If this is not the case, we can help you to reassess your targets and implement a long-term plan to potentially achieve your initial goals further down the line.
How do I know what financial goals to set myself?

With Total Business Partners, we can help you to achieve your business goals. However, before achieving this, we must set out the correct aims. There are many different questions that must be asked in order to determine which goals you would like to achieve.

We may consider the time scale of your achievements e.g. where would you like to be in 5, 10 or 20 years time? What is your risk tolerance? Are you happy to accept a conservative approach? There are many ways to ensure that your goals are achievable and Total Business Partners can help you decide which ones to strive for.

Is there consistent monitoring of finances?

Of course! With our financial planning services, we will always keep up to date with your finances and ensure that your plan is going how it should. Part of our service includes monitoring and updating your financial plan as time goes on.

If we feel that tweaks need to be made to ensure the continued success of your financial model, we will explore how to do so. Financial models can be changed over time to suit different climates and your personal situation. At Total Business Partners, we are here to help every step of the way.

What are the 3 basic tax planning strategies?

There are many ways that you can plan out your taxes; however, the 3 main methods tend to be:

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

These 3 pillars of financial planning for tax are key to helping you make the most of your money. For example, when it comes to planning your tax, adjusted gross income is arguably more vital than your gross income. AGI (adjusted gross income) is what is left after adjustments have been made such as paying off student loans or making contributions to your superannuation. Also, you can lower this number by making financial decisions such as saving for your retirement.

Sunshine Coast Financial Planning location

North Lakes Financial Planning location

Take a look at some of the other services that we provide in Sunshine Coast to facilitate success

At Total Business Partners, we are driven by the success of our clients. We are Xero certified accountants, well-versed in structural business planning and financial management, and always look to provide the best standard of service. With this in mind, we have chosen to offer the following comprehensive services to help Sunshine Coast businesses thrive. We also provide services to the wider Brisbane region, including North Lakes.

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