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# Approved Financial Planners: Approved Financial Planners has been guiding clients toward greater financial clarity, confidence, and freedom for nearly two decades. Based in Floreat, Perth, we work with individuals, families, professionals, and business owners to provide strategic financial advice tailored to their goals, lifestyle, and values.

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## Posts
- [Can a Financial Advisor Do Your Taxes?](https://www.approvedfp.com.au/help-with-financial-advisor-tax-planning/): As a financial planner in Australia, one of the most common questions I hear is, "Can you just do my taxes for me?" It’s a perfectly reasonable question. After all, we manage your investments, plan your retirement, and structure your wealth—doesn't that include the annual tax return?
- [Do All Financial Advisors Help With Centrelink Issues?](https://www.approvedfp.com.au/financial-advisors-help-with-centrelink/): As an Australian financial planner, one of the most common and critical questions I hear from clients approaching retirement is about their eligibility for Centrelink payments, particularly the Age Pension. The rules are complex, the stakes are high, and the paperwork can be daunting. This leads many to assume that any financial advisor can seamlessly handle their Centrelink affairs.
- [What to Do to Transition to Retirement in Australia?](https://www.approvedfp.com.au/transition-to-retirement-in-australia/): The retirement journey is one of the most significant financial and lifestyle transitions an Australian will ever undertake. For many, the idea of an abrupt stop to working life is daunting, both financially and psychologically. This is where the Transition to Retirement (TTR) strategy comes into play, offering a structured, flexible bridge between full-time work and full retirement.
- [Do I Need Financial Advice to Manage an Inheritance?](https://www.approvedfp.com.au/financial-advice-to-manage-an-inheritance/): I have witnessed firsthand the profound and often complex impact an inheritance can have on an individual’s life. Many people don't seek advice on how to manage an inheritance and often make bad investments. It is a moment of profound paradox: a financial windfall arriving at a time of deep personal loss. While the money, property, or investments represent a significant opportunity for financial security and future planning, the emotional weight and administrative complexity can be utterly overwhelming. This is why, in my professional experience, seeking qualified, independent advice is not merely a suggestion—it is a critical necessity.
- [How Can I Turn a Six Figure Salary Into Lifelong Wealth?](https://www.approvedfp.com.au/six-figure-salary-grow-wealth/): It is a common sight in Australia’s major cities: the successful professional, earning a six figure salary, driving a premium car, and living in a desirable suburb. On the surface, they embody financial success. Yet, beneath this veneer of prosperity, many of these individuals feel a persistent, gnawing financial anxiety. They are the HENRYs: High Earners, Not Rich Yet (1).
- [What Is a Family Trust and How Does It Help Grow Wealth?](https://www.approvedfp.com.au/family-trust-and-how-does-it-help/): The landscape of wealth management in Australia is complex, constantly shifting with legislative changes and economic pressures. For families and business owners who have built significant assets, a robust, flexible, and legally sound structure to manage and protect that wealth is paramount. As a financial advisor, I often find that the Family Trust is the cornerstone of a sophisticated wealth strategy. It remains one of the most misunderstood entities in the Australian financial ecosystem.
- [Is Financial Planning Needed When Getting Divorced](https://www.approvedfp.com.au/financial-planning-when-getting-divorced): Amid the turmoil, it's easy to feel overwhelmed by the sheer volume of financial matters that need to be addressed: dividing assets, settling debts, understanding superannuation entitlements, and planning for a future that now looks vastly different. This is where the expertise of a specialist financial planner becomes not just beneficial, but essential. While your lawyer is your advocate for legal rights and entitlements, a financial planner acts as your financial architect, providing the clarity, strategy, and objective analysis needed to build a secure and sustainable financial future. This article will explore the critical role a financial planner plays during and after a divorce, from untangling complex asset pools to modelling your future and helping you avoid common, costly mistakes.
- [What Are Employee Share Schemes and Are They Beneficial?](https://www.approvedfp.com.au/employee-share-schemes-and-are-they-beneficial/): As a financial advisor operating in the Australian landscape, few topics generate as much excitement—and confusion—as Employee Share Schemes (ESS). For many Australians, an offer to participate in an ESS represents the first tangible opportunity to own a piece of the company they help build every day. It’s a powerful concept: transforming an employee into a shareholder and aligning personal ambition with corporate success. However, this opportunity is not without its complexities, particularly concerning taxation, vesting, and risk management.
- [Is It Better to Buy a Home or Rent and Invest the Rest in Australia?](https://www.approvedfp.com.au/buy-a-home-in-australia): The question of whether to buy a home or to rent and invest the difference is perhaps the most emotionally charged financial decision an Australian will ever face. It is a choice that sits at the intersection of our national identity, our personal aspirations, and our long-term financial security. For many, homeownership is the quintessential Australian Dream, a symbol of stability and success. Yet, in a world of soaring property prices and sophisticated investment options, the purely financial argument for "renting and investing" has never been stronger.
- [How Can I Pay Off Debt Quickly; Step by Step?](https://www.approvedfp.com.au/pay-off-debt-quickly/): As an Australian financial advisor, I’ve seen firsthand the immense stress and anxiety that debt can place on individuals and families. Most people want to Pay Off Debt Quickly because it’s a heavy burden, but it is not a life sentence. The path to financial freedom is paved with clear strategy, discipline, and a deep understanding of the financial landscape you are navigating.
- [How Can I Manage Redundancy](https://www.approvedfp.com.au/managing-redundancy/): As an Australian financial advisor, I have witnessed firsthand the mix of emotions that a redundancy offer can trigger. The first thought most have is to repay debt quickly. For some, it is a moment of profound shock and anxiety; for others, it is a long-awaited opportunity for a career pivot or an early retirement. Regardless of your initial reaction, the moment you are presented with a redundancy package is not the time for an emotional decision. It is a time for calm, calculated analysis, backed by professional advice and a time to pay off debt quickly.
- [How Does Salary Sacrifice Work and What Are the Benefits?](https://www.approvedfp.com.au/salary-sacrifice-for-employees/): As a financial advisor, one of the most powerful yet often misunderstood tools I discuss with clients is salary sacrifice, also known as salary packaging or total remuneration packaging. It is a strategy that, when implemented correctly, allows you to legally and ethically reduce your taxable income, effectively putting more money back into your pocket or directing it towards your long-term financial goals.
- [How Will the Retirement of Baby Boomers Affect Australia?](https://www.approvedfp.com.au/retirement-baby-boomers/): To understand the impact, we must first define the force. Who exactly are the Australian Baby Boomers, and what are their defining characteristics?
- [What Are the Right Investment Options for Retirees?](https://www.approvedfp.com.au/investment-options-for-retirees/): The transition from accumulation to decumulation—from saving for retirement to drawing income from those savings—is arguably the most critical financial phase of life, and the one where investment options are most important. For Australian retirees, this period presents a unique set of challenges and opportunities, governed by a sophisticated superannuation system and a dynamic global market. As a financial advisor operating in the Australian context, I aim to provide a clear, unambiguous, and data-backed outline of the investment options available to you, ensuring your financial decisions align with your personal goals, time horizon, and risk tolerance.
- [What Is a Discretionary Trust and Does It Help?](https://www.approvedfp.com.au/does-a-discretionary-trust-help/): As a financial advisor operating in the Australian landscape, few structures generate as much discussion or offer as much strategic potential as the discretionary trust, often referred to as a family trust. It is a cornerstone of wealth management for countless Australian families and business owners, yet its power is matched only by its complexity. Understanding this vehicle is not merely about knowing its definition; it is about appreciating the profound flexibility it offers in managing assets, planning for tax, and securing a legacy for future generations.
- [How Does Inflation Affect an Investment Portfolio?](https://www.approvedfp.com.au/inflations-affect-on-an-investment-portfolio/): As an Australian financial advisor, I’ve had countless conversations with clients over the years about market volatility, interest rate movements, and global economic shifts. Yet, few topics generate as much immediate, palpable anxiety as the recent resurgence of inflation. For a generation of investors who grew accustomed to a low-inflation environment, the current economic climate feels like navigating uncharted waters. The truth is, inflation is not just a headline figure; it is a silent, persistent threat that fundamentally alters the mathematics of wealth creation, eroding the purchasing power of your hard-earned savings and demanding a strategic reassessment of your investment portfolio.
- [How Should a Woman Financially Prepare for Maternity Leave?](https://www.approvedfp.com.au/prepare-financially-for-maternity-leave/): As an Australian financial advisor, I have witnessed countless women navigate the profound, life-altering transition to motherhood. The emotional and physical journey is often all-consuming, yet it is the financial preparation—or lack thereof—that can cast the longest shadow over a family’s future. For women in Australia, preparing for maternity leave is not merely about setting aside a few dollars; it is a complex exercise in risk management, long-term wealth protection, and strategic budgeting that must account for a unique blend of workplace entitlements, government benefits, and the significant, often underestimated, costs of early parenthood.
- [Is It Possible to Retire Early as a Salary Earner?](https://www.approvedfp.com.au/retire-early-as-a-salary-earner/): Many Australians wish to retire early, but is this wish achievable? The daily grind, the morning commute, the endless cycle of work and spend—it’s a reality that weighs heavily on many high-earning Australians. For the salary earner, the paradox is sharp: you earn a good income, but the demands of a high-cost lifestyle, coupled with Australia’s tax and superannuation rules, can make the dream of an early exit feel perpetually out of reach. Yet the question persists: is it genuinely possible for a dedicated salary earner to trade in their corporate badge for permanent freedom decades before the traditional retirement age?
- [How Does the Value of the Australian Dollar Affect Your Investment Portfolios?](https://www.approvedfp.com.au/value-of-the-australian-dollar/): As an Australian investor, you likely spend a great deal of time analysing company fundamentals, assessing property markets, and selecting the right mix of growth and defensive assets for your portfolio. This is prudent and necessary work. However, there is a powerful, often overlooked, variable that can quietly amplify or erode your returns, particularly in a globally diversified portfolio: the Australian Dollar (AUD).
- [What Is the Best Way to Save for Children’s Education?](https://www.approvedfp.com.au/saving-for-childrens-education/): As an Australian financial advisor, few conversations are as critical—or as emotionally charged—as planning for your children's education. For many parents, providing a quality education is a non-negotiable goal, a fundamental investment in their child’s future success. Yet, the financial reality of this commitment is often a profound shock. The days of simply setting aside a few dollars in a standard savings account are long gone. Today, funding a child’s education requires a sophisticated, tax-aware, and long-term investment strategy.
- [What Financial Mistakes Do Women Commonly Make?](https://www.approvedfp.com.au/financial-mistakes-women-commonly-make/): As a financial advisor operating in the Australian landscape, I have witnessed firsthand the distinct and often disproportionate financial challenges women face, which frequently result in financial mistakes. While the fundamental principles of financial planning—budgeting, saving, and investing—remain universal, the context in which Australian women apply them differs from that of their male counterparts. This difference is not a matter of capability, but a reflection of deep-seated structural and lifestyle factors that impact a woman’s earning potential, wealth accumulation, and ultimately, her financial security in retirement.
- [What Is Debt Recycling and How Does It Benefit You?](https://www.approvedfp.com.au/debt-recycling-and-how-it-benefit-you/): This is the core promise of debt recycling, a sophisticated financial strategy that involves converting non-deductible personal debt, such as a home loan, into tax-deductible investment debt (1). It is not a magic trick, but a disciplined, long-term approach that leverages the Australian Taxation Office’s (ATO) rules on interest deductibility to accelerate mortgage repayment and build an investment portfolio simultaneously.
- [Should You Put Your Extra Money Into Your Super or Your Mortgage?](https://www.approvedfp.com.au/your-super-or-your-mortgage/): For many Perth homeowners, the question of what to do with surplus income often boils down to a fundamental financial dilemma: should you put your extra money into your super or your mortgage? Both paths offer significant long-term financial benefits, but they serve different purposes and come with distinct trade-offs. Making the right choice is not a matter of a one-size-fits-all answer; rather, it is a deeply personal decision that hinges on individual circumstances, including age, income, debt level, and retirement goals. At Approved Financial Planning, we understand the complexity of this decision. Our role is to provide clear, unbiased guidance, helping you weigh the pros and cons of each strategy against your unique financial landscape. We are well-positioned to discuss both sides of this critical choice, ensuring your decision aligns perfectly with your long-term wealth creation and retirement objectives. The Case for Superannuation: A Tax-Advantaged Powerhouse Superannuation, Australia’s compulsory retirement savings system, is often described as the most tax-effective investment vehicle available. For homeowners looking to maximise their retirement nest egg, extra contributions to super can be a powerful strategy. Pros of Contributing Extra to Super Benefit Description Key Advantage Significant Tax Concessions Concessional contributions (e.g., salary sacrifice or personal contributions claimed as a tax deduction) are generally taxed at a flat rate of 15% 1. For most Australians, this is substantially lower than their marginal income tax rate, which can be as high as 45% (plus the Medicare levy). This immediate tax saving is a major drawcard. Immediate Tax Savings: Reduces current taxable income, putting more money to work. Compounding Returns Super funds invest in a diversified portfolio of assets. Over the long term, these investments benefit from compounding growth. The median growth super fund has historically delivered strong returns, with the median growth fund returning approximately 10.5% in the financial year ending June 2025 2. Accelerated Wealth Growth: Higher potential returns than the guaranteed "return" of paying down a mortgage (which is equal to the interest rate saved). Tax-Free Retirement Income Once you reach age 60 and meet a condition of release (like retirement), all withdrawals from your super are generally tax-free 3. This is a massive advantage over drawing down on non-super investments. Ultimate Tax Efficiency: Zero tax on income and capital gains in retirement. Protection from Creditors In most circumstances, superannuation assets are protected from creditors, offering a layer of financial security that other personal assets may not have. Asset Protection: Safeguards retirement savings against financial distress. Cons of Contributing Extra to Super Drawback Description Implication for Homeowners Access Restrictions (Preservation Age) Superannuation is a long-term savings vehicle. Funds are generally "preserved" until you reach your preservation age (currently between 55 and 60, depending on your date of birth) and meet a condition of release 4. Illiquidity: Money is locked away and cannot be used for emergencies or other investments until retirement. Contribution Caps The government imposes strict annual limits on how much you can contribute. The concessional contributions cap (before-tax) is currently $30,000 per financial year (FY25/26) 5. Exceeding these caps can result in additional tax penalties. Limited Flexibility: You cannot simply inject a large, one-off windfall without careful planning. Division 293 Tax High-income earners (those with income and concessional contributions over $250,000) pay an additional 15% tax on some or all of their concessional contributions, effectively taxing them at 30% 6. Reduced Tax Advantage: The benefit is lessened for very high earners. The Case for Mortgage Paydown: Guaranteed Return and Financial Freedom For many Perth homeowners, the mortgage is their largest and most significant debt. Aggressively paying it down offers a tangible, risk-free return that can provide immense peace of mind and financial flexibility. Pros of Paying Down Your Mortgage Benefit Description Key Advantage Guaranteed, Risk-Free Return Every dollar you pay off your mortgage is a dollar you don't pay interest on. This "return" is guaranteed and is equivalent to your home loan interest rate. With average variable interest rates for owner-occupiers currently around 6.44% p.a. 7, this is a substantial, risk-free saving. Certainty: A guaranteed return that is not subject to market volatility. Reduced Interest Costs By making extra repayments, you reduce the principal amount faster, which means less interest is charged over the life of the loan. This can shave years off your mortgage term and save tens of thousands of dollars in interest. Accelerated Debt Reduction: Builds equity faster and achieves debt-free status sooner. Increased Financial Flexibility (Offset/Redraw) Most Australian home loans offer an offset account or a redraw facility. Extra funds placed in an offset account are held in a separate transaction account and reduce the interest charged on the loan balance daily, while remaining fully accessible 8. A redraw facility allows you to withdraw extra payments you've made, offering a readily available emergency fund 9. Liquidity and Safety Net: Provides a highly liquid, tax-free emergency fund. Psychological Benefit The feeling of reducing a large debt and moving closer to outright home ownership is a powerful motivator. This "sleep-at-night factor" is an intangible but valuable benefit. Peace of Mind: Reduces financial stress and improves overall well-being. Cons of Paying Down Your Mortgage Drawback Description Implication for Homeowners No Tax Deduction Unlike super contributions, extra mortgage repayments are made with after-tax dollars and offer no immediate tax deduction. Less Tax Efficient: You miss out on the immediate tax saving offered by concessional super contributions. Lower Potential Return While the return is guaranteed (equal to the interest rate), it is often lower than the long-term, tax-advantaged returns generated by a well-performing super fund. If your super fund is consistently returning 8-10% and your mortgage rate is 6.44%, you are missing out on potential growth. Opportunity Cost: Sacrifices potentially higher market returns for a guaranteed, lower return. Illiquidity (Redraw vs. Offset) While offset accounts offer excellent liquidity, funds paid into a redraw facility are technically a reduction of the loan principal. If the bank fails or the loan terms change, accessing these funds can sometimes be more complex than accessing an offset account. Varying Liquidity: Depends on the specific loan feature (offset is superior for liquidity). The Approved Financial Planning Framework: Which Path is Right for You? The optimal strategy is rarely a simple choice between one or the other. Instead, it involves a balanced approach tailored to your specific life stage and financial metrics. Approved Financial Planning uses a structured framework to guide Perth homeowners through this decision. 1. The Foundation: Debt and Liquidity Before considering super, we always recommend establishing a solid financial foundation. •Emergency Fund: Ensure you have at least three to six months of living expenses readily accessible. An offset account is the ideal place for this, as it reduces your mortgage interest while keeping the funds liquid and tax-free. •High-Interest Debt: Pay off all high-interest consumer debt (credit cards, personal loans) before tackling the mortgage or super. The interest rate on these debts will almost certainly exceed both your mortgage rate and your expected super returns. 2. The Tipping Point: Comparing Rates The decision often comes down to a simple comparison of rates: For most people, the tax advantage of superannuation (15% tax on contributions) means that even a moderate super return can outperform the guaranteed saving from the mortgage interest rate. However, if you are a high-income earner subject to Division 293 tax, or if your super fund is underperforming, the guaranteed return of paying down a mortgage becomes more compelling. 3. The Life Stage Factor Your age and proximity to retirement are the most critical factors in this equation. Life Stage Recommended Focus Rationale Early Career (20s-30s) Superannuation & Mortgage Offset Maximise the power of compounding growth in super. Use an offset account to build an emergency fund and maintain liquidity for future life events (e.g., children, career change). Mid-Career (40s-50s) Balanced Approach (Super to Cap & Mortgage Paydown) Prioritise contributing to super up to the concessional cap to maximise tax benefits. Simultaneously increase mortgage repayments to ensure the home is paid off before retirement. Pre-Retirement (Late 50s-60s) Mortgage Paydown & Non-Concessional Super Focus on eliminating the mortgage entirely to reduce fixed expenses in retirement. Use non-concessional (after-tax) super contributions if you have unused caps, as withdrawals are tax-free after age 60. 4. The Perth Property Context As Perth house prices continue to climb, with the median sale price for houses in Greater Perth reaching approximately $820,000 in October 2025 10, building equity is a key goal. Aggressive mortgage paydown directly increases your equity, which can be crucial if you plan to use that equity for future investments or property upgrades within the Perth market. Conclusion: Your Super or Your Mortgage The choice between paying down your mortgage and contributing extra to superannuation is a classic financial planning puzzle. It pits the guaranteed, risk-free return and liquidity of mortgage reduction against the tax-advantaged, higher-growth potential of superannuation. There is no single correct answer, but there is a best answer for you. At Approved Financial Planning, we specialise in developing integrated strategies that harmonise your debt reduction goals with your retirement savings objectives. We will analyse your current tax position, assess your risk tolerance, project your long-term super returns, and model the impact of accelerated mortgage payments to determine the optimal allocation of your surplus funds. Don't leave this critical decision to chance. Contact Approved Financial Planning today to schedule a comprehensive review and ensure your financial strategy is perfectly aligned with your aspirations for a secure, debt-free future in Perth. References: 1.Australian Taxation Office (ATO). Tax and super. 2.SuperGuide. Super fund performance: Annual returns to June 2025. 3.Australian Taxation Office (ATO). Withdrawing and using your super. 4.Australian Taxation Office (ATO). Conditions of release of super. 5.Australian Taxation Office (ATO). How much you can contribute to super. 6.Australian Taxation Office (ATO). Division 293 tax. 7.Finder. Current home loan interest rates in Australia. 8.Commonwealth Bank of Australia (CBA). Redraw vs offset explained. 9.National Australia Bank (NAB). Differences between home loan redraw and an offset account. 10.Real Estate Institute of Western Australia (REIWA). Perth property prices hit new record.
- [What Are The Pros and Cons of Property Investment](https://www.approvedfp.com.au/pros-and-cons-of-property-investment/): As an Approved Financial Planner, I know that property investment is a cornerstone of wealth creation for many Australians. It is a significant financial undertaking that requires careful consideration and a clear-eyed understanding of the risks involved. Property is not a "get rich quick" scheme; it is a tangible, long-term investment demanding patience, due diligence, and a robust financial strategy. Let's consider the Pros and Cons of Property Investment.
- [Is a Self Managed Superannuation Fund (SMSF) Right for You?](https://www.approvedfp.com.au/is-a-self-managed-superannuation-fund/): As an Australian financial advisor, the Self Managed Superannuation Fund (SMSF) is a frequent topic of discussion. An SMSF is a powerful structure that transforms you from a passive member of a large super fund into an active trustee, directly responsible for your retirement savings. This guide will explore what an SMSF is, who it suits best, its significant advantages (including control, flexibility, and cost benefits), the rules surrounding property investment and borrowing, and the crucial role of professional advice. What is a Self-Managed Superannuation Fund (SMSF)? A Self-Managed Super Fund (SMSF) is a private superannuation trust established to provide retirement benefits to its members. Unlike industry or retail funds, SMSF members are the trustees (or directors of a corporate trustee), making them personally responsible for the fund's compliance and investment decisions. The Australian Taxation Office (ATO) regulates SMSFs under the Superannuation Industry (Supervision) Act 1993 (SIS Act). The fund's core purpose must be to exclusively provide retirement benefits to its members, a principle known as the "sole purpose test". Key characteristics include: a maximum of six members 6; every member must be a trustee; the fund's assets must be separate from personal assets; and trustees are responsible for all compliance, including an annual audit. Who is an SMSF Best Suited For? An SMSF is not for everyone. The decision must be based on a careful assessment of your financial position, knowledge, time commitment, and willingness to accept the significant legal responsibilities involved. The Financial Threshold: Cost-Effectiveness The fund's balance is a critical factor. SMSFs involve fixed costs (ATO levy, audit, administration) that can erode returns for smaller balances. SMSFs become more cost-effective as the balance increases. The SMSF Association suggests a balance of at least $200,000 to $250,000 is generally required for cost-competitiveness 7. ATO data from 2020-2021 indicated the median operating expense was approximately $4,139. SMSF Balance Range Cost-Effectiveness Profile Below $200,000 Generally not cost-effective; high proportion of assets consumed by fixed costs. $200,000 - $500,000 Potential for cost-effectiveness, but depends heavily on investment complexity and outsourcing costs. Above $500,000 High likelihood of cost-effectiveness, with fixed costs representing a small percentage of the total fund value. The Personal Profile: Knowledge, Time, and Control Beyond the balance, the ideal SMSF candidate possesses: •Financial Literacy and Investment Acumen: A strong understanding of financial markets, investment principles, and the SMSF regulatory environment is essential. •Time Commitment: Trustees must dedicate time to research investments, manage administration, and stay abreast of legislative changes. •Desire for Control: The primary driver is the desire to have complete control over their investment strategy and asset allocation. •Willingness to Accept Responsibility: Trustees are personally liable for any breaches of the superannuation laws, which can result in severe penalties. In summary, an SMSF is best suited for financially engaged individuals or couples with a substantial super balance who are prepared to accept the responsibilities of a trustee. The Main Advantages of a Self Managed Super Fund For those who meet the suitability criteria, a Self Managed Super Fund offers three compelling advantages: investment control, flexibility, and cost benefits. 1. Investment Control and Choice The most significant advantage is the unparalleled level of control over the fund's investment strategy. An SMSF can invest in a far broader range of assets than APRA-regulated funds, provided the investment meets the sole purpose test and is permitted by the fund's trust deed and the SIS Act. This includes: •Direct Residential and Commercial Property: Subject to rules, including the prohibition on acquiring assets from, or leasing to, a related party (with exceptions for business real property). •Direct Shares: Access to a wider range of listed and unlisted shares, both domestic and international. •Collectables and Personal Use Assets: Subject to strict rules regarding storage and member use. •Alternative Assets: Including private equity, hedge funds, and unlisted trusts, allowing for sophisticated diversification strategies. This control allows trustees to tailor their portfolio precisely to their risk profile and stage of life, potentially leading to superior long-term returns. 2. Strategic Flexibility SMSFs provide a level of strategic flexibility that is invaluable for complex financial planning. •Tax Management: Trustees can implement sophisticated tax strategies, such as timing the realisation of capital gains to coincide with periods of low or zero tax (e.g., when the fund is fully in the pension phase) and managing the timing of contributions and pension payments. •Estate Planning: An SMSF offers greater certainty and control over how superannuation benefits are distributed upon death, allowing for more effective estate planning than standard funds. •Pooling of Resources: Couples or families can pool their superannuation balances into a single fund, reducing administrative costs and allowing for larger, more strategic investments. 3. Cost Benefits for Higher Balances The fixed cost structure of an SMSF results in a lower percentage fee as the fund balance increases. While a large industry fund might charge a percentage-based administration fee, an SMSF's fixed costs of around $4,000 to $6,000 per annum become a negligible expense for a fund with a balance of $1 million or more. Fund Balance Estimated Fixed SMSF Cost (e.g., $5,000) Equivalent Percentage Fee $200,000 $5,000 2.50% $500,000 $5,000 1.00% $1,000,000 $5,000 0.50% $2,000,000 $5,000 0.25% This cost efficiency, combined with the potential for higher returns through tailored investment, is a powerful argument for high-net-worth individuals. Investing in Property and Borrowing: The LRBA Framework The ability to invest in direct property is a major drawcard. An SMSF can purchase both residential and commercial property, but must adhere strictly to superannuation laws. Direct Property Investment Key rules: The property must satisfy the Sole Purpose Test. The fund generally cannot acquire residential property from a related party, nor can a member live in it. An exception exists for Business Real Property, which an SMSF can acquire from a related party and lease back, provided the lease is on commercial terms. Borrowing Under Current Rules: Limited Recourse Borrowing Arrangements (LRBAs) SMSFs are generally prohibited from borrowing, but the Limited Recourse Borrowing Arrangement (LRBA) provides a significant exception for property investment. An LRBA is a complex structure allowing an SMSF to borrow funds to acquire a single asset (or collection of identical assets) held in a separate bare trust or holding trust. Key features: •Limited Recourse: The lender's right to recover the debt is limited only to the asset held in the bare trust, protecting the fund's other assets if the loan defaults. •Bare Trust: The bare trust holds the legal title, while the SMSF trustee holds the beneficial interest. Title transfers to the SMSF upon loan repayment. •Permitted Assets: Funds can only be used to acquire a single, acquirable asset or to make improvements that do not change its character. The LRBA framework is heavily scrutinised. Any misstep in documentation or management can lead to a breach of the SIS Act and severe penalties. The Indispensable Role of the Financial Advisor Given the complexity, responsibility, and potential penalties, the role of a qualified financial advisor is often indispensable. A licensed advisor can assist trustees across the entire SMSF lifecycle: 1. Setup and Establishment •Suitability Assessment: Determining if an SMSF is in the client's best interest, considering their balance, risk profile, and commitment. •Trust Deed and Structure: Advising on the appropriate trustee structure (individual or corporate) and ensuring the trust deed allows for the desired investment strategy. •Regulatory Registration: Managing the process of registering the fund with the ATO and ensuring initial compliance. 2. Investment Strategy and Advice •Developing the Investment Strategy: An advisor helps create a robust, written strategy, as required by the SIS Act, that considers diversification, risk, liquidity, and retirement objectives 15. •Asset Allocation: Providing tailored advice on the pros and cons of direct property, shares, and other assets. •LRBA Advice: For clients considering borrowing, an advisor provides strategic advice on the LRBA structure, working with a specialist solicitor and mortgage broker to ensure compliance. 3. Ongoing Compliance and Administration Advisors play a crucial role in ensuring the fund remains compliant: •Contribution and Pension Rules: Advising on complex contribution caps and the rules for commencing and managing retirement phase pensions. •Related Party Transactions: Providing guidance on the strict rules governing transactions with related parties to avoid costly breaches. •Documentation and Record-Keeping: Ensuring the fund maintains the necessary records, minutes, and documentation required by the ATO and the fund's auditor. Conclusion The Self Managed Superannuation Fund offers a compelling pathway to retirement wealth for the right individual, providing the ultimate level of control, flexibility, and significant cost efficiencies for those with substantial balances. This power, however, comes with a heavy burden of responsibility and complexity. The decision to move to an SMSF requires a deep commitment to compliance and a clear understanding of the regulatory environment, particularly in complex areas such as Limited Recourse Borrowing Arrangements. By partnering with a qualified financial advisor, trustees can leverage professional expertise to navigate the regulatory maze, formulate a robust investment strategy, and maximise their chances of achieving a secure and prosperous retirement. References  Self-managed super funds - ATO  Self-managed super fund (SMSF) - MoneySmart  Starting a self-managed super fund - ATO  SMSF Advantages and Disadvantages - H&R Block Australia  The Pros & Cons of Self-Managed Super Funds - Elliot Watson Financial Planning  SMSF - Australian Securities and Investments Commission (ASIC)  Is an SMSF right for you? - Macquarie Bank  How much does it really cost to run an SMSF? - Morningstar Australia  SMSF Investing - ATO  Limited recourse borrowing arrangements - ATO  SMSF Limited Recourse Borrowing Arrangements: What are they and how do they work? - Grant Thornton Australia  Rules on assets under LRBA - ATO
- [What to Consider Before Investing in Property With an SMSF](https://www.approvedfp.com.au/investing-in-property-with-an-smsf): For many Australians, the desire to own property is deeply ingrained, often referred to as the "Great Australian Dream." This ambition doesn't stop at personal home ownership; it frequently extends into retirement planning, leading a significant number of investors to consider investing in Property With an SMSF. With the SMSF sector now managing over $1 trillion in assets, representing nearly a quarter of Australia’s total superannuation pool, the popularity of this strategy is undeniable. However, as a financial advisor, it is my duty to ensure that this decision is made with a clear understanding of the regulatory landscape and a comprehensive appreciation of the risks involved. While the potential rewards are attractive, the complexities and potential pitfalls of SMSF property investment demand a cautious and well-informed strategy. Why Australians Turn to Investing in Property With an SMSF The primary motivation for using an SMSF to invest in property stems from a powerful combination of control, tax efficiency, and the ability to leverage superannuation savings. 1. The Allure of Control and Tangible Assets Unlike industry or retail super funds, an SMSF grants trustees direct control over their investment decisions. For investors who are confident in their property market knowledge, this control is a major drawcard. They can select the specific asset, manage the tenancy, and oversee the maintenance, giving them a tangible sense of ownership over their retirement savings. This preference for physical assets is a cultural hallmark in Australia, where property is often viewed as a more stable and understandable investment than shares or bonds. 2. The Tax-Effective Environment The superannuation environment offers significant tax advantages that amplify the appeal of property investment: •Low Income Tax: Rental income and capital gains within the accumulation phase of an SMSF are taxed at a concessional rate of just 15%. •Tax-Free Pension Phase: Once the fund moves into the retirement (pension) phase, all investment earnings, including rental income, become tax-free (0%). •Reduced Capital Gains Tax (CGT): If a property is held for more than 12 months in the accumulation phase, the effective CGT rate is reduced to 10% (one-third discount applied to the 15% rate). When sold in the pension phase, the capital gain is entirely tax-free. 3. The Commercial Property Advantage A particularly compelling driver is the ability for an SMSF to purchase commercial property and lease it back to a member’s business, provided the transaction is conducted on a strict arm’s length basis and at market rates. This allows a business owner to effectively pay rent into their own super fund, helping to build their retirement wealth while securing their business premises 2. This strategy is not permitted for residential property, which cannot be leased to, or used by, a member or any related party. The Three Critical Risks of SMSF Property Investment While the benefits are clear, the risks associated with SMSF property investment are substantial and often underestimated. The three most critical risks are illiquidity, gearing issues, and the challenge of low rental yields. 1. Illiquidity: The Cash Flow Trap Property is inherently an illiquid asset. This means it cannot be quickly or easily converted into cash without a significant loss in value. This illiquidity poses a severe risk to an SMSF, which has ongoing cash flow requirements, particularly when members move into the pension phase and need to draw a minimum annual income. If a fund's assets are heavily concentrated in a single property, the trustees may be forced to sell the asset prematurely to meet pension obligations or unexpected expenses, such as major repairs or regulatory fines. The process of selling a property can take months, or even years in a slow market, creating a significant shortfall in the member’s retirement income. 2. Gearing Issues: The Limited Recourse Borrowing Arrangement (LRBA) To purchase a property that the fund cannot afford outright, an SMSF must borrow money through a Limited Recourse Borrowing Arrangement (LRBA). This is a complex and highly regulated structure. The "limited recourse" nature of the loan is designed to protect the other assets of the SMSF. If the property investment fails, the lender's recourse is limited only to the property held in the separate bare trust, and not to the fund's other assets (such as shares or cash). However, this protection comes at a cost: •Higher Costs: LRBAs are typically more expensive than standard residential or commercial loans, with higher interest rates, fees, and stricter lending criteria. •Personal Guarantees: Lenders often require personal guarantees from the trustees, which means the debt is no longer truly "limited recourse" for the individual, exposing their personal assets outside of super. •No Improvements: The borrowed funds can only be used to acquire a single, identifiable asset. They cannot be used to make significant improvements to the property, such as adding a second dwelling or undertaking major renovations, which severely limits the fund's ability to add value to the asset. 3. Low Rental Yields and Negative Gearing The strategy of negative gearing—where the cost of owning a property (interest, maintenance, etc.) exceeds the rental income—is a common tax strategy for individual investors. However, it is a dangerous strategy within an SMSF. The purpose of a super fund is to accumulate wealth for retirement. A negatively geared property drains the fund's cash reserves, which could otherwise be invested in growth assets. Furthermore, while the fund can claim a tax deduction for the loss, the concessional 15% tax rate means the value of that deduction is significantly lower than for an individual on a higher marginal tax rate. In the current market, many residential properties in major Australian cities offer rental yields that are simply too low to cover the high costs of an LRBA, insurance, and maintenance, creating a persistent drag on the fund's performance. The Importance of Impartial Financial Advice The decision to invest in property through an SMSF is not a simple investment choice; it is a complex legal, tax, and financial undertaking. The Australian Securities and Investments Commission (ASIC) has repeatedly warned consumers about the risks of poor advice in this area. The problem is often that advice is not impartial. Many promoters, property spruikers, and unqualified accountants may recommend an SMSF and property purchase because they stand to gain a commission or fee from the transaction, not because it is genuinely in the client's best interest. Expert Opinion: A Warning from the Regulator The regulatory body, ASIC, has been clear about the inherent risks of this strategy. In its Report 824: Review of SMSF establishment advice, ASIC highlighted the fundamental issues that financial advisors must address: "Establishing an SMSF that will invest in direct property through an LRBA will involve a relatively illiquid investment and new debt. This is likely to introduce a higher level of risk and complexity than other investment options, and may not be suitable for all clients." This statement underscores the fact that the combination of illiquidity and new debt (gearing) fundamentally changes the risk profile of the super fund, making it unsuitable for the majority of Australians. The advice must be tailored to the individual, not a one-size-fits-all sales pitch. The Role of the Professional Financial Planner A professional, licensed financial planner acts as a fiduciary, meaning they are legally and ethically bound to act in your best interests. Their role is not to sell you a property or an SMSF, but to help you determine if this strategy aligns with your long-term retirement goals. 1. Holistic Financial Assessment A qualified planner will conduct a comprehensive review of your entire financial situation, including: •Your Super Balance: They will assess if your current super balance is sufficient to absorb the high setup and ongoing costs of an SMSF and an LRBA. Most experts suggest a minimum balance of $250,000 to $300,000 to make an SMSF cost-effective. •Your Risk Tolerance: They will ensure you understand the concentration risk of tying a large portion of your retirement savings to a single asset class and a single property. •Your Time Horizon: They will consider how close you are to retirement and your need for liquidity. A younger investor has more time to recover from a market downturn than someone nearing the pension phase. 2. Stress-Testing the Investment Strategy The planner will stress-test the property investment by running various scenarios, including: •Vacancy Periods: What happens to the fund's cash flow if the property is vacant for three to six months? •Interest Rate Hikes: Can the fund meet the higher LRBA repayments if interest rates rise significantly? •Market Downturns: How will a 20% drop in property value affect the fund's overall retirement projections? 3. Ensuring Compliance and Diversification Crucially, a planner will ensure the property investment fits within a broader, diversified investment strategy, as required by the ATO. They will help you structure the fund to maintain adequate liquidity to meet all obligations, ensuring the fund remains compliant with the Sole Purpose Test—that the fund is maintained for the sole purpose of providing retirement benefits to its members. Conclusion The decision to use an SMSF to invest in property is a high-stakes one that should never be taken lightly. The popularity of the strategy is driven by the appealing combination of control and tax benefits, but these must be weighed against the significant risks of illiquidity, the complexity and cost of LRBAs, and the potential for low yields to erode capital. As your financial advisor, I urge you to heed the warnings from regulators like ASIC. Before committing to this path, you'll need to seek impartial, professional financial advice from a licensed planner who has no vested interest in the sale of the property or the establishment of the fund. Only through a rigorous, objective assessment can you determine if this complex strategy is truly the right vehicle to secure your long-term retirement goals. References  SuperGuide. SMSF statistics: 1.2 million members with $1 trillion in super.  V.S. George Lawyers. SMSF Property Investment: Rules, Risks & Benefits.  Australian Securities and Investments Commission (ASIC). ASIC review raises fresh concerns over risks to retirement savings from poor SMSF advice.  Future Rent. Using Your Super to Buy Investment Property in Australia.
- [Does Diversification Reduce Risk and Volatility In a Portfolio](https://www.approvedfp.com.au/reduce-risk-and-volatility/): Diversification—the practice of spreading your investments across different asset types—is one of the few tools that reliably reduces risk and volatility without (necessarily) sacrificing return. In the Australian context, where markets can be volatile, interest rates fluctuate, and global events have knock-on effects, adequate diversification helps smooth returns, reduce drawdowns, and preserve capital.
- [How to Afford Personal Insurance for the Long Term](https://www.approvedfp.com.au/personal-insurance-long-term/): Long-term personal insurance (life insurance, trauma / critical illness, total and permanent disability (TPD), income protection, etc.) gives financial protection over many years. Because risk generally increases with age, insurers structure premiums to reflect risk and cost over time. The way you pay (premium structure) affects both the initial payment and the long-term payment.
- [What to Consider When Managing Risk vs Return](https://www.approvedfp.com.au/long-term-investors-2/): Investing always involves a trade-off between risk vs return. Higher potential returns usually come with greater risk—or more precisely, greater uncertainty of outcomes. For investors in Australia, managing this trade-off effectively means employing strategies that pursue growth while minimising the risk of extreme losses. Below, I explain why balancing risk vs return is crucial, describe common strategies (diversification, hedging, asset allocation), how they work together, provide practical examples, and outline pitfalls to avoid. I also emphasise that individual circumstances matter, and it's wise to consult a financial professional to build a plan suited to your goals and risk appetite.
- [Where are You Getting Your Financial Advice?](https://www.approvedfp.com.au/getting-financial-advice/): When people look for financial advice, there are a number of dangers or traps. Some of the most common:
- [Are You Ready to Buy Your First Home?](https://www.approvedfp.com.au/ready-buy-first-home/): Buying your first home is often billed as a rite of passage. But given current market conditions in Australia, it’s more complex than ever. Before diving into debt and commitment, there are many things to think through. Here’s a breakdown of what the data shows, what you should consider, and when waiting or choosing alternatives might make more sense.
- [5 Common Mistakes Made by DIY Investors](https://www.approvedfp.com.au/five-common-mistakes-made-diy-investors/): In recent years, thanks to easy access to information, trading apps, and social media influencers, also known as “finfluencers,” there has been a noticeable rise in novice DIY investors being lured into high-risk, often speculative, get-rich-quick schemes. These can seriously damage long‐term financial well-being. Below are five mistakes I frequently observe, along with their causes, the harm they cause, and how to avoid them.
- [5 Habits for a Comfortable Retirement](https://www.approvedfp.com.au/five-habits-comfortable-retirement/): A comfortable retirement is not simply the absence of work. It is a long phase of life during which income must be sustained, expenses managed, and financial risks navigated, often over several decades. In Australia, the retirement income system is built on three pillars: the Age Pension, mandatory superannuation savings, and voluntary savings or other assets. Retirees typically draw on a mix of these sources. (Treasury)
- [6 Financial Tips for Singles](https://www.approvedfp.com.au/financial-tips-for-singles/): Being single means your financial plan rests entirely on you—no partner's income cushion, fewer shared expenses, and more responsibility for your future financial security. But it also means you get complete control over decision-making. The best strategy largely depends on your age, life stage, and the generation to which you belong. Below, I break down key financial challenges and priorities for each age group/generation, as well as what singles in each bracket should focus on.
- [10 Money Mistakes Should You Try to Avoid?](https://www.approvedfp.com.au/money-mistakes-you-should-avoid/): Money mistakes happen to good people. What matters is knowing where they tend to trip up, what the cost is, and what to do differently. The following sections outline key areas where many people go wrong, backed by data, and provide suggestions to build stronger habits.
- [How to Save Thousands of Dollars Off Your Monthly Expenses?](https://www.approvedfp.com.au/save-thousands-dollars-monthly-expenses/): Managing money well isn’t just about earning more—it’s about making the small, regular choices that add up over time and help reduce your monthly expenses. In Australia, cost-of-living pressures are rising, as food, utilities, housing, and discretionary items are all squeezing household budgets. If you can change a few daily habits, the savings can be substantial, helping to create financial breathing room, reduce stress, allow for an earlier retirement, or enable more investment.
- [Do You Control Your Money or Does Your Money Control You?](https://www.approvedfp.com.au/control-your-money-control/): In an era of rising living costs, volatile markets, and high interest rates, sound financial planning is not a luxury — it is essential to control your money. Without a thoughtful plan, individuals can lose control of their money, gradually slipping into debt traps or insolvency. Conversely, good planning gives you clarity, resilience, and the ability to act rather than being forced to react.
- [Is Life Expectancy Important in Retirement Planning?](https://www.approvedfp.com.au/life-expectancy-retirement-planning/): Retirement planning is about more than saving enough; one of the critical variables is how long your savings will need to last. In Australia, as elsewhere, increasing life expectancy means retirees are living longer than past generations, which has major implications for retirement savings, withdrawal strategies, and financial risk management. Below I explain what life expectancy is, how it affects retirement, how withdrawal strategies can be adjusted, risks you need to account for, common mistakes, and why personalised advice matters.
- [Is Borrowing in Your SMSF a Good Investment Strategy](https://www.approvedfp.com.au/life-expectancy-retirement-planning-2/): The dream of borrowing in your SMSF superannuation to acquire property is a powerful motivator for many Australians. Since legislative changes in 2007, Self-Managed Superannuation Funds (SMSFs) have been permitted to borrow funds to acquire certain assets, most commonly property, through a highly specific and regulated structure known as a Limited Recourse Borrowing Arrangement (LRBA). While this mechanism offers significant potential for wealth creation within the concessional tax environment of superannuation, it is an area fraught with complexity and strict compliance requirements. As a financial advisor, it is crucial to understand the intricate details of LRBAs, their mandatory conditions, and the balanced view of their associated risks and rewards before proceeding.
- [How are You Spending Your Monthly Income?](https://www.approvedfp.com.au/spending-monthly-income/): The monthly income of Australians is facing sustained pressures: higher housing costs, inflation (especially for food, fuel, and utilities), rising interest rates, and variable wage growth. Several recent studies and statistics shed light on how these pressures are reshaping household spending patterns, savings, debt, and the allocation of discretionary versus essential expenditures.
- [Is Financial Planning a Necessary Consideration for the Empty Nesters](https://www.approvedfp.com.au/financial-planning-empty-nester/): As the last child leaves home, a profound shift occurs in the lives of Australian parents. The "empty nest" phase, often viewed as an emotional milestone, is equally a significant financial inflection point that warrants financial planning consideration. With reduced household expenses, newfound freedom, and a clearer view of retirement on the horizon, this period presents a golden opportunity to recalibrate finances, pay down debt, and aggressively build wealth. This article, written from the perspective of an Australian financial advisor, explores practical and strategic financial moves empty nesters can make now to secure a comfortable and confident future.
- [What is Total and Permanent Disability Insurance and How Does it Work](https://www.approvedfp.com.au/total-and-permanent-disability-insurance-2/): As a financial advisor in Australia, one of the most critical conversations I have with clients revolves around protecting their most valuable asset: their ability to earn an income. While many Australians understand the need for home and car insurance, the concept of insuring one's future earning capacity against a catastrophic event is often overlooked. This is where Total and Permanent Disability Insurance (TPD) steps in, providing a vital financial safety net that can make the difference between financial ruin and security following a life-altering illness or injury.
- [3 Strategies Millennials and Gen Z can Use to Get Ahead Financially](https://www.approvedfp.com.au/millennials-get-ahead-financially/): Get Ahead Financially means starting to plan your finances early — in your 20s or 30s rather than waiting until mid-life — is more than “nice to have”: it can meaningfully change your retirement lifestyle, reduce stress, and avoid mistakes that accumulate high costs. The earlier you act, the more years of compound returns you get, the fewer bad habits build up, and the fewer debts spiral. Below are three core strategies, with benefits, concrete examples, and pitfalls to avoid. But first, some context with data.
- [Family Financial Plan: Empower Your Future Today](https://www.approvedfp.com.au/family-financial-plan/): Families in Australia today face complex financial decisions. Rising living costs, shifting tax rules, volatile housing markets, and uncertain superannuation returns all mean that a clear financial plan is no longer optional—it is essential. A well-developed family financial plan helps align priorities, safeguard against unexpected shocks, and build wealth with discipline. This article explores why families should invest in financial planning, what elements to evaluate, and the common mistakes to avoid.
- [What Are The Pros and Cons of Downsizing Before Retirement](https://www.approvedfp.com.au/downsizing-before-retirement/): “Downsizing Before Retirement” generally refers to selling your current primary residence (often a large family home) and moving into something smaller, easier to manage, less expensive to run, or better located for retirement needs. This could be:
- [Are Your Superannuation Fees Too High?](https://www.approvedfp.com.au/superannuation-fees-high/): High superannuation fees remain one of the most overlooked threats to long-term wealth creation. Even small percentage differences can compound over decades into losses of hundreds of thousands of dollars. Understanding how these fees work, who benefits from them, and how to reduce their impact is essential for both current retirees and younger Australians planning for retirement.
- [How to Build a Solid Financial Foundation](https://www.approvedfp.com.au/financial-foundation/): Financial stability doesn’t happen by accident. For Australians, building a strong financial foundation is one of the most reliable ways to reduce stress, prepare for life’s unexpected events, and work toward long-term goals such as home ownership, education, or retirement. The techniques that form this foundation—budgeting, cash flow management, emergency savings, and income growth—are simple in concept but powerful in practice.
- [Can Eliminating Debt Help You Build Wealth?](https://www.approvedfp.com.au/can-eliminating-debt-help-you-build-wealth/): We provide a full range of financial planning services to our Perth clients, but one of the first questions we ask if you plan to build wealth, is about your level of debt. At Approved Financial Planners, the road to effective financial planning begins with taking charge of your debt and monthly expenses.
- [What Should New Property Investors Watch Out For](https://www.approvedfp.com.au/property-investors): Investing in real estate often feels simultaneously attractive (tangible asset, potential for rent and capital gains) and scary (big sums, risk, uncertainty). For new Property Investors in Australia, the fears are real, backed by data. Below, I discuss the main concerns, evidence for them, and how to reduce their impact through good planning and professional help.
- [Does Financial Planning Provide Psychological Benefits](https://www.approvedfp.com.au/financial-planning-benefits/): Financial planning is often seen mainly as numbers, spreadsheets, superannuation, investments, maybe tax or estate matters. But there is growing evidence—both in Australia and internationally—that a structured, intentional financial planning process brings psychological benefits: less stress, more life satisfaction, better resilience.

## Pages
- [FAQs](https://www.approvedfp.com.au/frequently-asked-questions): Planning for later life involves reviewing your financial, health, legal and lifestyle needs so your wishes are clear and your family is prepared. Key considerations include retirement income from superannuation, investments and Age Pension eligibility; future housing and aged care preferences; estate planning, including your Will and superannuation beneficiary nominations; and appointing trusted people through Powers of Attorney, guardianship or advance care directives if you can no longer make decisions. It is also important to keep key documents up to date and seek professional advice as your circumstances change.
- [Making a Complaint](https://www.approvedfp.com.au/making-a-complaint/): We endeavour to provide you with the best advice and service at all times. If you are unsatisfied with our services, we encourage you to contact us. Please call, email, or write to our office with your complaint.
- [Careers](https://www.approvedfp.com.au/careers/): Our people are the key to our success, so when you join Approved, you join a family. We ensure our employees are treated as well as our clients.
- [The Value of Advice](https://www.approvedfp.com.au/the-value-of-advice/): Advisers generate an average 5.2 per cent extra cash per year for clients regardless of market movements, through services such as asset allocation and behavioural coaching, new research has revealed.
- [Financial Planners](https://www.approvedfp.com.au/): Approved Financial Planners helps you own your tomorrow today.
- [Call To Action](https://www.approvedfp.com.au/call-to-action/): Daniel and Jack where great
- [Testimonials](https://www.approvedfp.com.au/testimonials): Daniel and Jack where great
- [What To Bring To The Meeting](https://www.approvedfp.com.au/contact-us/what-to-bring-to-the-meeting/): Documents to have readily available where appropriate:
- [Financial Planners for Empty Nesters](https://www.approvedfp.com.au/how-can-we-help/empty-nesters/): Your home mortgage may be close to being paid off. You may have also paid off our car and lowered your personal debt, such as credit and store cards. At this point, you may be looking to purchase an investment property or two. You may also be looking for other investment opportunities.At Approved Financial Planners, we can help you get the most out of your transitional years. You have worked hard and raised a family. Though you are well into the last half of your work life, there may still be some investments you can make to get the most out of your last decade in the workforce.
- [Mature Families](https://www.approvedfp.com.au/how-can-we-help/mature-families/): Is Your Money Really Working for You? Or Are You Falling Behind? Take Control of Your Life Now with Approved Financial Planners!
- [Retirees](https://www.approvedfp.com.au/how-can-we-help/retirees/): At Approved Financial Planners, we can help you maximise what you have and get what you have coming. Here are some of the services that can help straighten out and maximise your retirement.
- [Young Adults](https://www.approvedfp.com.au/how-can-we-help/young-adults/): Get Ahead of the Game by Establishing Good Money Habits Early. Create Solid Goals that You Can Grow into with Approved Financial Planners.
- [Young Families](https://www.approvedfp.com.au/how-can-we-help/young-families/): At Approved Financial Planners, we understand how tough it can be. Our financial planners can work with you to create a personalised solution for your financial present and future. We are experts at helping families find enough time and money to live effectively now while still being able to plan for children’s education and eventual retirement.
- [Business Overheads Insurance](https://www.approvedfp.com.au/services/wealth-protection/business-overheads-insurance/): Similar to Income Protection cover but provides you with income cover for your business expenses if you are disabled.
- [Total & Permanent Disablement](https://www.approvedfp.com.au/services/wealth-protection/total-permanent-disablement/): Total & Permanent Disability (TPD) provides cover if you are disabled during the term of the policy, you or your beneficiaries will receive a pre-determined lump sum.
- [Insurance Protection](https://www.approvedfp.com.au/services/insurance-protection/): Income Protection Insurance (Agreed Value or Indemnity) provides replacement of your income while you are Totally or Partially Disabled and unable to work as a result of either sickness or injury.
- [Ongoing Service](https://www.approvedfp.com.au/how-can-we-help/ongoing-service/): By developing an ongoing relationship with you, we gain a greater insight and understanding of your financial position and continually assist you to better your position.As well as the ongoing service provided by our experienced Financial Advisers, we meet you on a regular basis to realign your strategy in order to match your changing life.
- [Advice Process](https://www.approvedfp.com.au/how-can-we-help/advice-process/): If you’re happy to proceed with your personal financial advice, we will manage the process of implementing our recommendations, and provide you with a complete end-to-end advice process.
- [Life stages and Opportunities](https://www.approvedfp.com.au/how-can-we-help/life-stages/): 20s Start budgeting to manage your cash flow Pay off ‘bad’ debt Start a regular investment plan Kick-start your super 30s Pay off ‘bad’ debt Consider consolidating debt/super fund/accounts/bank accounts Have a regular investment plan Get advice on borrowing to invest Take out adequate insurance Be smart with super Create a Will 40s Pay off ‘bad’ debt Consider consolidating debt/super fund/accounts/bank accounts Have a regular investment plan Get advices on borrowing to invest Check your insurance cover Be smart with super Review your Will for changing circumstances 50s Pump up your super savings Review your risk profile Get advice on borrowing to invest Check your insurance cover 55+ Take advantage of higher limits for concessional super contributions Get financial advice on accessing your super Get financial advice to help you take advantage of government benefits 60+ Get financial advice on accessing your super Maximise government benefits Accelerate your super savings, if still working Release other wealth Review your Will and estate plan
- [How can we help](https://www.approvedfp.com.au/how-can-we-help/): One thing you can be certain of is that your life will constantly change.
- [Business Solutions](https://www.approvedfp.com.au/services/business-solutions/): Approved can assist you and your business in the following key areas including;
- [Estate Planning](https://www.approvedfp.com.au/services/estate-planning/): Estate Planning is not just about making a Will.
- [Wealth Protection](https://www.approvedfp.com.au/services/wealth-protection/): Protect what is most important to you.
- [Investment Planning](https://www.approvedfp.com.au/services/investment-planning/): Investment Planning includes:
- [Our Clients](https://www.approvedfp.com.au/about-us/our-clients/): We want our clients to look after their families by becoming part of ours.
- [Our Team](https://www.approvedfp.com.au/about-us/the-team/): Senior Financial Adviser
- [Philosophy](https://www.approvedfp.com.au/about-us/philosophy/): At Approved Financial Planners, we believe that financial planning is much broader than just managing investment portfolios.
- [News](https://www.approvedfp.com.au/news/): As a financial planner in Australia, one of the most common questions I hear is, "Can you just do my taxes for me?" It’s a perfectly reasonable question. After all, we manage your investments, plan your retirement, and structure your wealth—doesn't that include the annual tax return?
- [Financial Services](https://www.approvedfp.com.au/services/): Approved Financial Planners provides you with expert financial advice that helps you to achieve your financial goals. With over 40 years’ combined experience in Perth, Approved provides you with the knowledge and strategies to build and protect your wealth. We work with you throughout each critical stage to proactively realign your goals and monitor your progress towards reaching your objectives.
- [Trauma Insurance](https://www.approvedfp.com.au/services/wealth-protection/trauma-insurance/): Trauma cover provides a lump sum benefit if you suffer a disability or are diagnosed with one of the critical illnesses covered by the policy. It is a Stand Alone policy that can be held separately and pays the benefit tax -free on proof of diagnosis.
- [Self Managed Superannuation](https://www.approvedfp.com.au/services/self-managed-superannuation/): Self-Managed Super Funds, or SMSF, are ideal for clients who wish to take more control over their retirement funds and how it’s invested. But it is highly regulated and can be confusing to set up.
- [Income Protection Insurance](https://www.approvedfp.com.au/services/wealth-protection/income-protection-insurance/): Income Protection Insurance (Agreed Value or Indemnity) provides replacement of your income while you are Totally or Partially Disabled and unable to work as a result of either sickness or injury.
- [Life Insurance (or Death Cover)](https://www.approvedfp.com.au/services/wealth-protection/life-insurance-or-death-cover/): Life Insurance Cover Provides a benefit for Death from any cause. (Suicide after the policy has been in force for 13 months).
- [Winning Retirement Planning Strategies Perth WA](https://www.approvedfp.com.au/services/retirement-planning/): Our retirement planning process will initially cover how much you require in retirement and then review your progress toward your financial goals.
- [Superannuation Advice](https://www.approvedfp.com.au/services/superannuation/): Our specialist Superannuation advice includes:
- [About us](https://www.approvedfp.com.au/about-us/): Established in 2005, Approved Financial Planners has been guiding clients toward greater financial clarity, confidence, and freedom for over two decades. Based in Floreat, Perth, we work with individuals, families, professionals, and business owners to provide strategic financial advice tailored to their goals, lifestyle, and values.
- [Contact Approved Now](https://www.approvedfp.com.au/contact-us/): "*" indicates required fields

## Testimonials
- [M.K.](https://www.approvedfp.com.au/dt_testimonials/mk/): I enlisted the help of Approved Financial Planners when I found myself in a tricky situation. From the very first phone call I felt understood and supported.
- [Harley Barron - Perth WA](https://www.approvedfp.com.au/dt_testimonials/harley-barron/): Have been a client of Approved Financial Planners for 12 months and have been happy with the service provided. Items I wanted addressed were identifed, dealt with and communicated effectively.
- [Casey Wroth - Perth WA](https://www.approvedfp.com.au/dt_testimonials/casey-wroth/): Dan and the team at Approved have looking after my Super and Insurances for a number of years. Dan has been very helpful explaining what I need going forward and helping me get there. Recommend Approved Financial Planners.
- [Tracey McBain - Perth WA](https://www.approvedfp.com.au/dt_testimonials/tracey-mcbain/): Professional, friendly and knowledgeable service, Dan worked with us to find an outcome that worked well for what we wanted to achieve - highly recommend.
- [Mick & Sam Wilson - Perth WA](https://www.approvedfp.com.au/dt_testimonials/mick-and-sam-wilson/): Very professional team of people that organised all our insurances, loans and superannuation.
- [Steve Bolger - Perth WA](https://www.approvedfp.com.au/dt_testimonials/steve-bolger/): Daniel and his team have been of great assistance in managing my investments.
- [Ed Still - Perth WA](https://www.approvedfp.com.au/dt_testimonials/ed-still/): Excellent service. They handle the income stream updates directly with Centrelink and if I have a query they respond quite quickly.
- [Claire Dewing - Perth WA](https://www.approvedfp.com.au/dt_testimonials/claire-dewing/): Bayswater
- [Steve Brown - Perth WA](https://www.approvedfp.com.au/dt_testimonials/steve-brown/): Welshpool
- [Rick Martin - Perth WA](https://www.approvedfp.com.au/dt_testimonials/rick-martin/): Waterside Welding Fremantle
- [Ben & Cherie - Perth WA](https://www.approvedfp.com.au/dt_testimonials/ben-cherie/): Leeming WA
- [Jayden - Perth WA](https://www.approvedfp.com.au/dt_testimonials/jayden/): Jane Brook WA
- [James & Sue - Perth WA](https://www.approvedfp.com.au/dt_testimonials/james-sue/): Andrew provided a first class service. He made the process of refinancing our home loan so easy. He listened to our requirements and found us the ideal product. He liaised with our existing bank and settlement was hassle free. I would definitely recommend Andrew to our friends and family.
- [Donna - Perth WA](https://www.approvedfp.com.au/dt_testimonials/donna/): Andrew helped me with my first mortgage and then again when it was time to refinance. He has made the process quick and easy both times. He has advised me on the best options for me and gotten great rates. Will be in touch again when I’m due to refinance.

## Team
- [Daniel Stevens](https://www.approvedfp.com.au/team/daniel-stevens-3/): Book Meeting
- [Jack Webb](https://www.approvedfp.com.au/team/jack-webb/): Book Meeting
- [Christa Kennerley](https://www.approvedfp.com.au/team/christa-kennerley): Book Meeting
- [Prateeksha Harne](https://www.approvedfp.com.au/team/prateeksha/): Book Meeting