Too often clients focus on the underlying investments when in truth, while investment selection is an important part of financial planning, this is really the last part of the journey.
Osmonds Accountants and Financial Planners prides itself on being very much accountants first and financial planners second. So what does that mean?
Well it means that we like to get the structure right first. Should you be holding assets in your own name , via a partnership, within a company or perhaps within a superannuation environment.
Depending on which is the most suitable structure will impact on your potential tax liabilities so the two aspects go hand in hand and are equally important. In truth it never ceases to amaze me how many clients are focused on potential investment returns, when they can save more money in taxes by making sure their assets are held in the most appropriate vehicle for them.
Once we have sorted through these two key issues, we then go to a lot of effort to understand what you are wanting to achieve and how much risk you are prepared to take on as well. Again we see ourselves as accountants first and so that makes us very conservative in our investment choices.
So much so that these choices may seem ‘boring’ but these boring choices stood our clients in good stead during the recent Global Financial Crisis and they will again when the next down turn eventually hits.
We know that our clients don’t want to make them suddenly rich overnight because the risk attached to those sort of strategies are too high. They want common sense investment solutions in assets and companies that will stand whatever financial storm might blow up in the years ahead.