A caring hand helps ease the mind
Neil O’Grady and John Walker
<Adviser name> is an Authorised Representative of RI Advice Group Pty Ltd
Disclaimer
Important Notice
RI Advice Group Pty Ltd, ABN 23 001 774 125, holds Australian Financial Services Licence Number 238429 and
is licensed to provide financial product advice and deal in financial products such as: deposit and payment
products, derivatives, life products, managed investment schemes including investor directed portfolio services,
securities, superannuation, Retirement Savings Accounts.
The information presented in this seminar is of a general nature only and neither represents nor is intended to be
specific advice on any particular matter. RI Advice Group strongly suggests that no person should act specifically
on the basis of the information contained herein but should obtain appropriate professional advice based on their
own circumstances.
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Clear service offering and value proposition
Wealth
Living
-Private education -New car -Travel -Eating out -Holidays -Investment property
Cash Income Growth
Where you want to be
Lock in your lifestyle
- Risk protection
- Estate Planning
$0
Mortgatge?
School fees?
Early retirement?
Retired?
Legacy?
Your current situation
Surviving
- Loss of income - Trauma - Disability - Tragedy - Caring for grandchildren
Debt
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Issues facing the elderly
• Personal adjustments
• Understanding the options available
• What to do with the family home
• Costs of aged care and how to pay the
fees
• Impact on Centrelink benefits
• Effects on the estate plan
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Our Seminars - What We Cover
•
Choices and access to care
•
The process to enter an aged care facility
•
The two levels of care
•
Rules for fees payable
•
Impact of the former home and strategies to fund fees
•
How the age pension is impacted
•
Importance of obtaining advice
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How we can help
• Provide advice that will:
- Provide a secure cash flow
- Maximise Centrelink benefits
- Options for funding fees
- Preserve estate (the value)
• Liaise with your solicitor, accountant & Centrelink
• Provide ongoing service
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How a we can help
Tax
planning
Estate
planning
Aged
care
fees &
charges
Review
financial
position
Family
home
options
Age
pension
You
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Client experience process – comprehensive plan
• Getting to know you
1
First appointment
together
2
Getting all the
facts
• Discuss the Financial Services Guide
• Understand your goals and objectives
• Complete a personal and financial profile with you
• Determine your tolerance to risk
• Develop a clear picture of your financial situation
• Letter of engagement
3
Agreeing on the
service
• Confirm our services
• We consider, evaluate and prepare
• Discuss services and costs involved
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Client experience process
• Analyse possible strategies and options
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Advice
preparation
• Where required, we research legislation and potential products
• Prepare recommendations
• We present advice – the Statement of Advice (SoA)
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Advice
presentation
• Discuss SoA and Product Disclosure Statement
• You have considered our recommendations
• Should you feel comfortable, you sign the authority to proceed
• Implementation of agreed strategy
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Implementation
and ongoing
review
• Consider portfolio performance and changes
• Consider new legislative opportunities and threats
• Review of your financial situation, needs and objectives
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Aged Care Funding Analysis – another service we offer
The purpose is to give you an in-depth understanding of:
• The facility and the different options available
• The cost of care and associated fees
• Case study scenarios of your situation
• Your ability to cover the ongoing costs of residential care
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Aged Care Funding Analysis
Provides a comparison of funding options to help you decide
whether or not to:
• Keep the house
• Keep the house and rent it out
• Sell the house
• Sell some of your other investments
• Pay a higher bond
• Pay by periodic payment
• Borrow the funds
• Explore other options
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Aged Care Funding Analysis
Why?
• It can be complicated
• The person making the aged care accommodation decision
is often not you
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Retirement Living Unit Analysis
The purpose is to give you an in-depth understanding of:
• The facility and the different options available
• Case study scenarios of your situation
• Your ability to retain your standard of living
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Case Study
ASSETS
EXPENSES
Bond
Deemed investments
Other Investments
TOTAL
$
Option One
$220,000
$580,000
$0
$800,000
Basic Daily Care Fee
Income Tested Fee
Extra Services
$38.33
$13.99
$0
$13,990.45
$5,104.69
$0
$40.25
$0
$0
$14,691.25
$0
$0
$52.32
$19,095.14
$40.25
$14,691.25
$329.18
$312.84
$8,558.55
$8,133.80
TOTAL
PENSION
Asset Test
Income Test
ANNUAL
FINAL AGE PENSION
ASSUMPTIONS
$
ANNUAL COSTS
Option Two
/PENSION
$700,000
$100,000
$0
$800,000
$729.30
$728.22
$18,961.80
$18,933.80
$X
$Y
VARIABLES
Home sold
Home rented
Single
Other investments
Hostel
Share of Bond Interest
Age Pensioner Rebate retention amount
$800,000 Cash
Phased resident
Married
Married and one in Care
Both in Care
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Our credentials
• Experienced
-Over 30 years experience
-Over 80,000 clients
-Over $10b under advice
• Professional personal advice – Aged Care specialisation
• Advice underpinned by quality research and technical teams
• Over 150 offices nationwide – 268 advisers
• Global company
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Summary – benefits that a financial adviser offers
• Give your client and their family peace of mind
• Take away the stress and complexity associated with the
funding of retirement and aged care living
• Provide value added services to UnitingCare Ageing – an
extension of your value proposition
• Protect your staff (inadvertently providing financial advice)
• Enhance the client experience
• Share your vision – “Inspired Care…Enriching lives…..together”
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Thank You