Peoplebank does not provide financial advice of any kind to contractors. However, we do have an exclusive partnership with BDO Wealth Management who specialise in providing independent, high quality wealth creation, tax planning and general financial planning advice to contractors.
BDO Wealth Management services can be categorised into three main areas:
- Strategic Planning Solutions
BDO create strategies to ensure clients achieve their financial and lifestyle objectives. These strategies generally create additional wealth for clients of at least $120,000 over the first five years. - Asset Management via Managed Discretionary Account (MDA)
The MDA is the investment platform BDO use to manage most of their client’s assets. This allows clients to access to a portfolio managed in real time by investment professionals according to a defined investment strategy while maintaining beneficial ownership of those investments. - Advanced Wealth Enhancement Programme
BDO have assembled a selection of professional services including assistance with investment property purchase and ongoing management, finance including mortgages, car loans etc, insurance and risk protection etc.
While all of the above services are available to Peoplebank contractors, BDO generally find most contractors require advice and assistance around four main areas, as outlined below...
Tax Planning
Tax is one of the largest outgoings for most contractors. BDO can assist with a number of legitimate wealth creation and tax planning solutions. BDO also have experience with the Personal Services Income legislation.
Risk Protection / Insurance
Contractors, like most Australians, do not have adequate insurance cover in place to protect themselves, their income, assets and family if there is an unforseen event. BDO have assisted a number of Peoplebank contractors through provision of Income Protection, Trauma, Total and Permanent Disability and Death cover.
Reducing / Managing Debt
Regularly reviewing your finance facilities for better deals can yield significant savings and cash flow benefits. Improving your cash flow will enable you to repay any loans quicker and implement further investment strategies or make additional contributions to superannuation.
Through our associations and partnerships, BDO Wealth Management can assist most clients to find a better finance deal.
Property Investment
BDO, in conjunction with one of Australia’s leading suppliers of residential property market data have created a service for clients looking to purchase an investment property. Our research looks at all facets of purchase and ongoing management including purchasing new versus old property, population and demographic analysis, employment in area, housing market and land supply, actual or planned amenities for the area, rental market and vacancy rates, builder and developer past performance to name just a few.
Build your wealth with BDO
BDO has created strategies focusing primarily on the above issues for a number of Peoplebank contractors. Generally through prudent management of these areas, BDO can generate savings, additional wealth or benefits of around $70,000 for most contractors.
Of course, BDO still offer their full suite of services to all Peoplebank contractors and if you require specific advice regarding superannuation, retirement planning, cashflow management or any other wealth management areas, BDO can assist with these issues also.
Want to know more?
To find out how BDO Wealth Management can assist you to build your wealth click here.
