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About Me

Ronald Pratap

Current Rating: 5 / 5
Financial Planner
RP Wealth Management
www.rpwealthmanagement.com.au
Oran Park, New South Wales
0434502079
I have been involved in the financial services industry for over 10 years.

I provide Advice on Investments, Superannuation, Risk management and retirement Planning through clear, transparent and structured advice.

I enjoy working with clients to structure a strategic financial plan to meet their specific goals and objectives, whether they are a young wealth accumulator wanting to structure their financial future all the way through to clients that are about to retire and need guidance on options and strategies available.

I started my own Wealth Management business with a key focus on working with clients on an ongoing basis to achieve their goals as I found working within an aligned bank model restricted me in terms of Products, Advice Procedures and Ongoing Relationships.

I am now truly able to help my clients without a lot of the previous restrictions placed on me through a compliant and manageable approach.

At RP Wealth Management, we offer a wide variety of services throughout the Sydney Metropolitan areas including: The Macarthur Region, Parramatta, Liverpool, Penrith and the Greater Sydney region

Contact the RP Wealth Management team for more details.

Email: ronald.pratap@rpwealthmanagement.com.au
website: www.rpwealthmanagement.com.au
Phone: 02 9188 1547

Contact the RP Wealth Management team for more details.

My Activity

answered
Q: Hello, my wife and I have been discussing buying a unit off the plan close to Sydney CBD. The loan have been approved but with the talk about the labour party negative gearing policy is now a good time to buying off the plan or should we look to a place like Newcastle or other regional areas and buying an existing home. Thank you
A: Hi Matthew,

As Andrew mentioned you shouldn't base the decision around a potential change and just on the aspect of negative gearing.

A property strategy should always be looked at as a long term investment and based on the current climate it doesn't look like we are going to have the same growth as the last few years.

If you are unsure about your options, it is best to speak to a professional either in the property field or someone that can help identify your goals and objectives such as the need for income, investment timeframes or are you after capital growth in the short term etc.

Getting an investment property is a big decision and one you want get right before you make a full commitment.

I hope this helps.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
answered
Q: Hello,
I’m 48 and a late starter to superannuation and I have been thinking about salary sacrificing into my superannuation account.? Is it a good idea and is there a limit to how much I can salary package?
A: Hi Pamela,

Scott hit the nail on the head in regards to speaking to someone about your individual circumstances as it best to look at your full position before advising of suitable amounts and the way to contribute etc.(eg. lump sum, regular payments)
You should also consider the tax environment inside superannuation(up to 15% tax on earnings) and your marginal tax rate as this may also be a deciding factor on how much you contribute.
it is always great to regularly contribute to your superannuation to boost your retirement benefits, however you should not contribute funds that you may need in the short-medium term as once you put the funds in, you won't be able to access this until a condition of release is met.
I hope this helps and if you would like to discuss further or want to organise an appointment, please don't hesitate to contact me on the below details.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
answered
Q: So, I am a 57 year old male, one almost-not-dependant daughter and a financially independent partner. I worked overseas for 15 years from the age of 27-42 and so never started a super fund. In 1992 I left a salaried profession and entered the world of tech startups which I continue in today. As a result, I have no salary income and no employer to contribute to a super fund. I rely on sale of a business from time to time. I have put all spare cash into my primary residence as I see it as the most tax effective vehicle available. I have several investment properties overseas and generate enough income that I haven't had to skip a meal yet. My question is whether putting cash into a primary residence is always a better option than a super fund? I find super fund rules are complex and seem to change all the time...whereas cash into my primary residence is tax free and can be released when I retire and downsize which is the moment when I would want to draw down on any super anyway. Thoughts on a postcard please...
A: Hi Geoff,

Great question and dilemma a number of Australians go through.

Superannuation rules change all the time , however can be a great tax effective strategy as you get closer to retirement for a few reasons:
- Contributions into this environment are taxed at a maximum of 15% and no tax if the funds have already had this applied. Earnings are taxed at a maximum of 15% in accumulation phase.(Could be beneficial depending on your marginal tax rate.)
- Making extra contributions into your superannuation will also reduce your overall taxable position potentially based on your assessable income reducing.
- By selling down certain investments and placing the funds in super, you may reduce your tax position at the EOFY and as you head towards retirement.
- You have access to a number of investment options depending on how you invest just like you do outside super such as Cash, Fixed Interest/Term deposits, Property, Shares, Managed funds and alternative investments.
- This money will eventually be tax free to you if you retire and draw down from the benefits after the age of 60. Tax free income and tax free earnings.

Another point to consider is once you retire - holding multiple properties will still attract tax and ongoing upkeep and management. Do you really want that when you retire?

It's all about having a good balance of funds and diversifying your investments so as not to 'put all your eggs in one basket'.

Feel free to contact me on the below if you have any questions.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
blog post
Stepped vs Level Premiums: What’s the difference for Life Insurance purposes?
When it comes to protecting your family, knowledge is not just power – it’s security.
You have a choice when it comes to paying premiums: stepped or level. But what does that mean ...
answered
Q: If I wanted to include derivates as part of an investment strategy what questions do I need to ask my financial planner to know they have the experience and skills?
A: Hi Gus,

Most Financial Adviser's would outsource this to an Investment team or use the services of a stockbroker as mentioned above.

The best thing to do as James mentioned is just ask them if they deal with Derivatives or what is their approach to this asset type.

Depending on your service package, they may charge more for this type of advice.

Hope this helps.

Ronald Pratap | Principal Financial Adviser
RP Wealth Management
t: 02 9188 1547 m: 0434 502 079
e: ronald.pratap@rpwealthmanagement.com.au
w: www.rpwealthmanagement.com.au
a: Level 2, 351 Oran Park Drive, Oran Park 2570
answered
Q: Hi,
My partner and I recently started out in a turf laying business. We are contracted work by a turf supplying company, he then pays the boys a gross income as they are running under an ABN like us.
We are not particularly well off and we don’t make a profit, just a living.
I’m just wondering if there is anyone that is willing to offer a bit of beginners advice on how and where things need to be lodged in regards to BAS, Tax Returns, etc ? I’m not needing someone to do it for me, just rather guide me.
Any help would be sincerely appreciated and I understand it is only an opinion, not professional advice.
Kind regards,
Louise
A: Hi Louise,

I agree with Todd,

Spending money on a Professional to assist you with this will save you alot of time, headache and potentially stop you from making a mistake which may cost you thousands of dollars especially if you don't pick it up early and do this over several years.

You may see it as an unnecessary expense, however if it can work you should put it in your fixed expenses.

regards,

Ron
answered
Q: A good friend set the ground rules for his 16-year-old daughter when she got part-time work. She could spend 50% of what she earned but the remaining 50% had to be deposited into a savings account.

I'd like to ask about the strategies others have in play to help teach kids the value of money and the value of saving?
A: Hi Paul,

The strategy you recommended above is great and I think you can take that even further and take it back to when you are giving pocket money to your children and put the money away for when they want something that shows the value of saving. The big purchase will show them they don't need to ask for an item every time they want something, they just have to save for it themselves.

I put together an article on helping kids and how they pick up habits which will stay with them for life and this can be viewed on my profile at:

https://www.simplyaskit.com.au/profile/1283/ronald-pratap/blog/84/helping-your-kids-learn-about-money

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
Follow me on https://www.simplyaskit.com.au/profile/1283/ronald-pratap
answered
Q: My husband and I are looking at income and trauma insurance policy through our business and would like to ask about trauma. Does trauma only include life threatening illness or an injury that stops you from working?
A: Hi Vicky,

You have some great responses above and you should be aware that unlike Death, TPD or Income Protection- Trauma insurance doesn't require you to be out of work or pass away in order to claim the benefit. Trauma insurance pays a lump sum benefit on diagnosis of a specified condition from the PDS whether you return back to work tomorrow or 1 year from the claim. Trauma insurance is one of the most important insurances I recommend to clients but is sometimes overlooked because it is not tax deductible or able to be paid via super but I can tell you it is worth holding.
Eg. I had a client that ran a textiles business who I helped set up a Premier Trauma policy and they were unfortunately diagnosed with a tumour that resulted in eventual deafness in both ears. The client first received a partial payment as he had the full benefits policy and then received the remainder after it was a claimable event as per the PDS. This helped the client pay for surgery, take some time off work and not worry about having to return back to work ASAP.

It is always best to speak to a specialist about your options and what is best for you before cancelling any insurances you may hold as you may lose benefits you cannot get back.

If you have any questions, please don't hesitate to contact me on the below details.

Ronald Pratap
Principal Financial Adviser/ Risk Specialist
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
Follow me on simplyaskit - https://www.simplyaskit.com.au/profile/1283/ronald-pratap
answered
Q: Being able to help people is the cornerstone of a successful business.

We would love for people to be able to share a story of how you were able to help a particular customer in 2018 and why it put such a smile on your face?
A: Hi Guys,

I started my business about 18 months ago as a way to get out of the aligned bank network and work closer with my clients instead of being a product flocker. The recent Royal commission drills home the fact I made the right decision as I have not had one awkward conversation or lost a client as a result of what is happening.
My approach to advice has changed and I work closer with my Small business clients to identify how I can help not only from a Financial view but also how they market themselves, how they separate their personal lives from work and how the separate cashflow. The feedback has been positive and makes me remember why I became an Adviser. The reviews on my Social Media are all real clients and are still with me today.
One particular client who thought it was impossible to buy a place bought one within 6-8 months of cashflow advice down in Tasmania as that was a goal which we achieved through planning, online management tools, execution and most importantly the willingness to change.
This puts a smile on my face as it shows Advice does help.

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Please click follow on my simplyaskit profile page - https://www.simplyaskit.com.au/profile/1283/ronald-pratap
video
RP Wealth Management - Insurance Protection

video
RP Wealth Management Portal with myprosperity
&feature=youtu.be

answered
Q: Following on from the previous question, if something untoward was to happen is there a maximum time frame in which we could claim income protection insurance while the pub was being rebuilt?
A: Hi Michael,

Income Protection would only apply to you if you were sick or injured and unable to return back to work. It would have nothing to do with the pub being damaged or rebuilt. These are unfortunately separate insurances.(I know, MORE ASSETS, MORE INSURANCE.)

You can choose the proportion you wish to insure up to a maximum of 75% of your income. You also choose the maximum amount of time you would receive monthly payments which is up to age 65 in most cases and a waiting period that can range from 14 days up to 2 years.

The payment will depend on your ability to return back to work or the total benefit period applicable.

I hope this helps with your query.

Thanks,

Ronald Pratap | Principal Financial Adviser
RP Wealth Management
t: 02 9188 1547 m: 0434 502 079
e: ronald.pratap@rpwealthmanagement.com.au
w: www.rpwealthmanagement.com.au
a: Level 2, 351 Oran Park Drive, Oran Park 2570
video
Investing with Granny Flats and Duplexes with Ron from RPWM and Simone Homes

answered
Q: Is it possible to minimise tax when you receive a TPD payment? I’m 53 and expecting about $300,000 – do I put into super and will that stop me from being able to access fund when I need it?
A: Hi Tim,

Glenn and Brendan have provided some great answers and are correct in their assessments, as once you do something with the money you are potentially locking yourself into a strategy.

If you would like to discuss your options further or look at some potentials strategies for your specific situation, please contact me on the below details for a complimentary Appointment.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
answered
Q: Listening to Ben Fordham on 2GB yesterday about issues parents are having with their children and the NDIS got me thinking about insurance options for my children. I’m not talking about the families private health insurance but other insurances like disability or trauma. Are they within the blanket policies of parents, what options are available?
A: Hi Margaret,

The above 2 responses are correct and some provider's have a minimal amount of automatic coverage in the Trauma portion of cover they provide, however you can elect to increase this amount if you would like additional coverage usually up to a certain cap and normally through a questionnaire regarding your child's current health situation.

If you would like to review your current insurances or discuss options for yourself and your children, please don't hesitate to contact me on the below details.

Thanks,

Ronald Pratap | Principal Financial Adviser
RP Wealth Management
t: 02 9188 1547 m: 0434 502 079
e: ronald.pratap@rpwealthmanagement.com.au
w: www.rpwealthmanagement.com.au
a: Level 2, 351 Oran Park Drive, Oran Park 2570
answered
Q: Hi, I am a first home buyer and want to start looking to buy a home, I have $80,000 deposit and earn $90,000 a year.. no other loan loans or credit cards – how much can I borrow?
A: Hi Liam,

There are some great responses from the above Professionals.

However, if you are looking for someone local to work with I can put you in touch with our Lending Specialists and also assist with Property options depending on where you are looking to buy.

I am based in the Oran Park Podium shopping Centre on Level 2 if you would like to catch up for a complimentary appointment to discuss your query further and see your borrowing capacity.

If you would like to chat further my details are below.

Goodluck with the property purchase.

Thanks,

Ronald Pratap | Principal Financial Adviser
RP Wealth Management
t: 02 9188 1547 m: 0434 502 079
e: ronald.pratap@rpwealthmanagement.com.au
w: www.rpwealthmanagement.com.au
a: Level 2, 351 Oran Park Drive, Oran Park 2570
answered
Q: My daughter has just finished the HSC and is having a year off before she starts University. She is currently working two jobs and we would like to get some advice on where she should put her superannuation and setting up a savings plan to pay for Uni, thank you?
A: Hi Fiona,

It is great that yourself and your daughter are looking at making decisions now that will benefit her in the long term.

Picking the right superannuation fund will involve a number of components and if she has several funds she may want to compare them against each other and look at consolidation options, although please consider all details or speak with a professional before making that decision. Things to consider include:

Fees- What are the underlying fees of the fund
Investment Strategy- What risk tolerance is she comfortable with and is she currently invested the way she wants to be or needs to be for the long term.
Insurance- What cover is held in the fund and what benefits will you lose if closing the account
Rebates/Benefits-Is there any benefits with choosing one fund over the other eg. An employer sponsored fund that provides rebates or extra benefits.

In regards to saving she should look at putting away money as soon as her regular pay comes in. If saving is the goal than putting it away before you go through your other expenses should be a key consideration.

This is just some general guidance on options your daughter can look at however if she did need more tailored advice- it is best to speak with a professional or you can contact me on the below details if you would like to chat further.

Thanks,

Ronald Pratap | Principal Financial Adviser
RP Wealth Management
t: 02 9188 1547 m: 0434 502 079
e: ronald.pratap@rpwealthmanagement.com.au
w: www.rpwealthmanagement.com.au
a: Level 2, 351 Oran Park Drive, Oran Park 2570
blog post
How do I choose the right Adviser?
There has been a lot going on in the Financial Planning industry at the moment with Legislative changes, investigations and compensation claims.
What you don’t hear about is the great work ...
answered
Q: I’m 28 and would really like to understand more about superannuation and building for the future. Am I better off just going along with my employers super or finding a financial planner to help. What questions should I be asking a planner, thanks?
A: Hi Kris,

Great to see you are taking an active approach to managing your investments for the long term as superannuation can be used for a number of strategies.

Whether your superannuation fund is appropriate for you depends on a number of things such as Underlying investment choices, Insurances held, Fees and benefits.

It is best to speak with a Professional if you are unsure about your options.

I have put an article together on how to choose the right Adviser if you would like to read this as this may give you some insight in to what to look for when speaking with a Financial Adviser.

https://www.rpwealthmanagement.com.au/choose-right-adviser/

If you wish to discuss anything further, please don't hesitate to contact me on the below details.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
answered
Q: Hello.

I'm not sure if I should be worried about my investments at the moment, SUPER & INVESTMENT ACCOUNT with what happened last week in the US? Theres been a few thousand wiped from the balance being in INTERNATIONAL SHARES and a few other things.

I've seen articles saying the worse is yet to come .. or is it just the media fear mongering .. should i switch everything to cash or something less risky .. or am i falling into the trap ?

Whats your opinion ?

Thanks,

J.
A: Hi J T,

The above are some great responses to your question.

I would like to also add in regards to your question "should i switch everything to cash or something less risky .. or am i falling into the trap ?". Be careful of this as right now the losses are not on paper and once you switch investment options you are then crystallising this and realising the loss. It is always best to speak with a Professional before making any drastic decisions as a wrong move may cost you thousands of dollars now and in the long term.

A good Adviser will be able to identify how comfortable you are with risk, set a tailored investment strategy and make sure your current fund is suitable.

If you would like to discuss this further, please don't hesitate to contact me on the below details.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
blog post
The 3 keys to successful lifestyle change
The Body-Brain Performance Institute recently completed a 12- week lifestyle intervention with 23 obese employees of Woolworths and the results were truly outstanding.
Nineteen of the twenty three pa ...
answered
Q: I’m interested to get people views on structuring an investment plan for 2018. What’s the view on the mix between shares, property, managed funds and perhaps derivates – should one or two be a higher priority than the others?
A: Hi Cain,

I suggest speaking to a professional about your options to understand how comfortable you are with different investment types and the risk involved in each. Different investments require different initial amounts and different costs for each investment type eg. Stamp duty and conveyancing fees for Property. You should also consider the time frame for how long you are going to hold the investment for. Think of the exit strategy as much as the initial investment. eg. short term or long term, liquid or illiquid.

Everyone's investment philosophy is different so it is best to understand your risk tolerance and what assets you are comfortable holding, this will also depend on your goals and objectives. You should speak with a local Financial Planner or you can contact me on the below details if you would like to have a further chat.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
blog post
The cost of raising a Child and having a Family Fund







They say it takes a village to raise a child, but how much does it actually cost? The answer is highly dependent on individual circumstances, but as a guide, a 2013 national study found ...
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Money and relationships
Leaving the single life behind to start a Relationship and become a twosome is an exciting and romantic time. The last thing on your mind is how to manage your money and joint finances. Yet r ...
answered
Q: Mum recently passed. Their are 4 children - eldest is executor of will, rest beneficiaries. Selling Mums house. Does beneficiaries have any say of how house is sold? Or does only eceutor have say? Does the executor have to keep beneficiaries informed? Can executor sell the house @ low price?
A: Hi Amanda,

I would second Ken's answer and also add that if you feel that there may be issues or you want to understand your obligations and rights as a beneficiary to contact an Estate Planning Solicitor. There are some fantastic ones attached to this site and I know Coutts Solicitors are great in this area.

Kind regards,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
video
How to protect your assets as a First Home Buyer or Investor
&t=4s

blog post
Helping your kids learn about money


Do you ever take your child to the supermarket and let them hand the money to the cashier? Perhaps they’re applying their newfound counting skills to sorting out your spare change? Or ma ...
answered
Q: My Dad recently passed away leaving my Mum as sole Beneficiary. There was some money in a joint Bank account and some more in Dad's own name.
My Mum is already in a Nursing Home and suffering from Dementia. Will the money transferring from Dad's single name to Mum require a re-assessment of Mum's pension and whose responsibility is it to commence any necessary review ?
Also if Mum was to gift some of the money to siblings, what limits apply without impacting her pension.
Thanks.
A: Hi Ken,

Sorry to hear about your loss and I hope your family is doing well.

In regards to Centrelink entitlements, the requirement is to notify them within 14 days of any changes in assets so your mother will now need to be assessed as a single pensioner meaning her income/assets limit will decrease so it is best to get this looked into.

In regards to gifting there is a limit of $10,000 per year and $30,000 over a 5 year rolling period, so check with a professional about transferring assets and ensure this also wasn't done in previous years.(Centrelink record these things)

It is best to speak with an Aged Care specialist to see if there will also be any impact to the nursing home assessment.

Hope this helps.

Thanks,

Ron

Ronald Pratap | Principal Financial Adviser
RP Wealth Management
t: 02 9188 1547 m: 0434 502 079
e: ronald.pratap@rpwealthmanagement.com.au
w: www.rpwealthmanagement.com.au
a: Level 2, 351 Oran Park Drive, Oran Park 2570
answered
Q: I live in Sydney and can’t afford to buy where I want to live. I would like to get some advice on regional areas where I could buy and use the rent to pay off the loan. Where would you recommend and why, thank you?
A: Hi Vicky,

If you would like to talk about your options further in terms of finding a property that meets your goals and objectives I am happy to assist and look at potential property strategies for you.

Our approach is to look at property as a long term strategy and look at your overall situation. My Licensee will assist in finding the property based on your criteria.

If you would like to discuss this further, please contact me on the below details.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
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RP Wealth Management Super consolidation

video
Budgeting 101 RP Wealth Management

answered
Q: I wish to start putting some extra money aside into super myself (I earn $55k and wish to put some money aside each year (up to $5000). The question is i think this extra will be tax deductible? And also what are the requirements if we need to access it later - are we able to withdraw the money that we have put in)
A: Hi Mark,

Good work on thinking more about nest egg in retirement and James is correct in the information he has provided.

I would also like to add that if you are contributing additional funds into superannuation, you should consider the following:
- Your asset allocation and where your funds are being invested?
- What type of superannuation product you are in and what fees you are paying?
- What insurances are inside the fund and is there an option to fund further insurances with your extra contributions if you are under insured?
- Why will you be putting the money into super?what are your goals and objectives?

If you would like to discuss anything from the above further, please let me know. I can see you are in Campbelltown and my office is in Oran Park, happy to catch up and discuss your options further as I am not far away.

Thanks,

Ronald Pratap | Principal Financial Adviser
RP Wealth Management
t: 02 9188 1547 m: 0434 502 079
e: ronald.pratap@rpwealthmanagement.com.au
w: www.rpwealthmanagement.com.au
a: Level 2, 351 Oran Park Drive, Oran Park 2570
answered
Q: My uncle lives in my grandparents house which was left 50/50 to him and my Mum when my grandparents passed - my Mum and Dads pensions are being reduced each time Centrelink review their assets as the value of the property has increased - My parents are in their late 70s and my uncle who has never moved out of home and is single has no idea of the impact to my parents. Is there any way that my parents can pass their share of the property over to us while they are alive so that they can manage ?
A: Hi Narelle,

Sorry to hear about your parents dilemma as this has happened to a number of my clients and what needs to happen is one of a few things which may involve an uncomfortable chat with your uncle:
1. Discuss covering rent for 50% of the property or the potential reduction in lost Centrelink entitlements.
2. Discuss selling the asset now and splitting the proceeds to allow for equal share in the property so your parents are not disadvantaged.
3. Come to a suitable agreement that suits all parties.

It is best to seek some Advice on this as it could get messy and lead to some resentment down the track. The other issue you may run into is splitting of Assets if God forbid something happened to your parents and the benefits pass onto you while your uncle is still in the house.

In regards to gifting assets- Centrelink have allowable limits to pass on for each recipient and this would not be suitable depending on the amount of the share. As discussed it is best to seek some legal advice or Tailored financial Advice if you would like to know your parents options further.

I hope this helps.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
answered
Q: I have around $450 a month in savings and I would like to take the next step and start investing but I don't know how or what to do?
A: Hi Andrew,

I suggest speaking to a professional about your options to understand how comfortable you are with different investment types and the risk involved in each. Different investments require different initial amounts, ongoing contributions to make it work and also a timeframe for how long you are planning to hold the Asset.

Everyone's investment philosophy is different so it is best that you go into something that you are comfortable with. This will also depend on your goals and objectives. You should speak with a local Financial Planner or you can contact me on the below details if you would like to have a further chat.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
video
RP Wealth Management- Who are we?

answered
Q: Hi! I work full time and am struggling to make enough money to support myself. I manage to put aside about $15 a week. What can I do to increase the amount of money I have in a safe hold incase something goes wrong? i.e. budgeting or investing...

Cheers
A: Hi Fin,

It is hard to provide you with some advice without understanding your full circumstances, however the best way to take control of your finances set yourself a budget if you haven't already done so. This is a simple way of helping you understand the money going in and out of your household.

A budget will show you if you are spending more or less than you can afford and will allow you to direct your money to where it matters the most, so you can stay on top of bills and start putting money towards your future goals. Then you can start cutting down on the expenses that you don't necessarily need.

The above should stop you from living week to week and allow you to build up a cash savings amount.

Sites like ASIC's MoneySmart have some great calculators and tools to assist you with this.

If your expenses are just too much even after cutting everything down to the bare minimum, you may want to look at investing further in yourself and it may mean looking at different work opportunities or looking at a second income source to help you.

Hope this helps.

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
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answered
Q: Hi, I am aged 71, retired, not working, and receiving a pension from Qsuper. I have $32,000 spare. I believe I can put this money into my Super if I have a job of 40 hours in any one month. I don't have a job. My question is - what constitutes a job? Can I mow my son's lawn during June, this taking me 40 hours spread over the month. Can he pay me a minimal wage of $100.
A: Hi Peter,

I have had this question with a number of my clients who are in a similar situation to yourself.

The ATO states that the work test can be satisfied when “employment” involves any endeavour where you receive remuneration for your efforts, including farming, babysitting, cleaning, lawnmowing, gardening, consulting and paid employment. You will need to confirm with the tax office whether your specific arrangements satisfy the work test rules depending on your "employment" arrangements with your son.

For your reference, part of the relevant regulation is set out below. The SIS regulations (Reg 7.01 (3)) state the following:

(3) In this Part, a person is gainfully employed on a part-time basis during a financial year if the person was gainfully employed for at least 40 hours in a period of not more than 30 consecutive days in that financial year.

Note: Gainfully employed is defined in regulation 1.03.

Relevant definitions from regulation 1.03 include:

gainfully employed means employed or self-employed for gain or reward in any business, trade, profession, vocation, calling, occupation or employment.
full-time, in relation to being gainfully employed, means gainfully employed for at least 30 hours each week.
part-time, in relation to being gainfully employed, means gainfully employed for at least 10 hours, and less than 30 hours, each week.

Hope this helps.

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
blog post
Why did I become a Financial Adviser and start my own business?
I find myself telling my story to potential client’s and current client’s a number of times and thought I would share with all the experiences and what has led me to the path of se ...
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Simplyaskit founder Paul Ryan talks to Financial Planner Ronald Pratap from RP Wealth Management about the importance of business owners protecting their business and families future with insurance.
answered
Q: I am self employed and am considering taking out some insurance in case I can't work due to illness, broken leg etc. If I take this insurance out is it 100% deductible at the end of the tax year?
A: Hi Dawn,

There are different tax deductions to consider when holding insurances in your own name or under your superannuation as the tax benefits can then be passed back to you.

If the benefit comes as an income stream. Generally, income protection insurance is 100% tax deductible when taken out as a standalone policy.
Everything else such as Life insurance, Trauma and TPD are only tax deductible when taken within the superannuation policy and trauma cover is no longer available inside a superannuation environment.
Basically, your fund will claim a tax-deduction when it makes a payment to your life insurance premiums. It will then pass on this benefit to the member by removing any tax that is payable from your super contributions.
It is best to speak with an Accountant or a Financial Adviser to understand what applies to your personal situation and how best to structure your insurances.

Feel free to contact me should you have any further questions.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
answered
Q: Hi Im about to finalize my divorce settlement and will have a sizable amount of money with which I hope to put a deposit on a house in the next 12 months I am wondering how I should go about banking this large amount and will i have to pay tax on it now or just on the interest ?
A: Hi Lee,

As per the above response the tax consequences will depend on where the proceeds are coming from and if they have already had tax applied or the funds are tax free until such time that is is sitting in an investment or bank account. It is best to speak with a tax professional to understand your obligations and ensure you are doing the right thing to avoid any unnecessary penalties or costs going forward.
Good luck with the purchase of your new property and hopefully things go well for you after the settlement.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
answered
Q: I have $100,000 in my SMSF and want to invest it in the stockmarket, where do I start?
A: Hi J A,

If you are looking at some assistance on how to set up a direct share portfolio and where to start, there are a few things you must decide.
- Your time-frame for investing.
- What type of investments you want eg, direct equities, Exchange traded funds, SMA's
- how are the assets split between existing trustee's
- Asset allocation you would like between different classes

If you are not sure where to start it may be worthwhile sitting down with a Financial Adviser and going through your options in more detail, to really understand your goals and objectives.

Feel free to contact me, should you require a further chat.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
answered
Q: Can a superannuation fund get access to my ATO information if I give them consent?
A: Hi Shahin,

It depends on what information you mean? A superannuation fund or Financial professional can potentially act on your behalf to obtain information you authorise them to, however I am not to sure how a superannuation fund would get much access to ATO details besides Lost superannuation or other details of superannuation accounts.

I hope this helps but I would need more details in regards to your query before giving you an accurate answer.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
T: 02 9188 1547 M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
Like us on Facebook: https://www.facebook.com/RPWealthManagement
answered
Q: Our business has 3 partners and after 2 years together we have started discussing how we can protect the business and our families. What type of insurance should we be looking at?
A: Hi Chris,

Thank you for your questions and it is great to see that you are protecting the business and individuals involved.

There are some great answers by the other professionals in this group and as mentioned it is best to seek advice from an Accountant, Solicitor and Insurance Specialist or Financial Adviser to assist with the structure, levels of cover and estate planning requirements of the business and partners.

It is best to look into the business and identify any areas of concern and gaps in your current situation before putting an Action plan in place. Insurances that you should be looking at include:

Buy/sell Agreements
Key man cover
Business expense insurance
General insurance options

Each cover has specific requirements and is not for every business, although it best to understand exactly what is best for you and the other partner's of the business.

If you would like to discuss this further and would like an complimentary initial consultation please contact me. I am able to come out and see you as I have client's with similar requirements in the Marrickville Area.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
T: (02) 9188 1547
M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
F: https://www.facebook.com/RPWealthManagement
answered
Q: What are your thoughts on purchasing a residential property within my SMSF and why would this be more beneficial than investing in Managed Funds/Equities?
A: Hi Pete,

This is a great question and one that I have a lot of clients asking me.

With the pool of superannuation benefits in Australia increasing, SMSF’s are becoming the hot topic, however you also need to understand the costs and responsibilities involved.

Below are some key differences between retail superannuation funds and SMSFs:

Retail Superannuation
Number of Members 1
Typical Size of Fund $0 to $200,000
Typical Cost of Fund Total costs 1.0% - 2.5%
Type of Investments Available Managed Funds (including Listed Property)
Direct Equities
Exchange Traded Funds
Term Deposits Cash
Legal Obligations The Trustee of an APRA regulated fund must be registered or licensed through APRA.
APRA funds are subject to a substantial prudential regime.

Self Managed Superannuation Fund
Number of Members 4
Typical Size of Fund $200,000+
Typical Cost of Fund Depends on the size of fund and types of investments. Ongoing Accounting and Audit
costs range typically between $2,000-$3,000 per annum for a fund with basic . investments and assets.
Type of Investments Available Managed Funds (including Listed Property)
Business real property
Direct Equities
Exchange Traded Funds
Term Deposits
Cash Collectibles (e.g. Artwork)
Legal Obligations Trustees of the SMSF ultimately accept the legal responsibilities so should under their . obligations before setting up a fund.

Typically we do not recommend clients establish a SMSF until they have more than $200,000
in assets as the ongoing expenses of running the fund aren’t cost effective when compared
with a retail or industry fund.

A SMSF provides a greater level of control that can’t be achieved with a retail or industry
superannuation fund in terms of the underlying investments and strategies available. Through the
extra level of control you will have a greater level of engagement in the investment decisions that
ultimately build your retirement nest egg.

If you would like to see if this option is appropriate for you and if you have any further questions, please don't hesitate to contact me on the below details.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2
351 Oran Park Drive
Oran Park N.S.W 2570
T: (02) 9188 1547
M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
F: https://www.facebook.com/RPWealthManagement
answered
Q: Just started my own business and interested in what some experts say is the best business advice they ever received?
A: Hi Megan,

It's great that you are taking that leap of faith and setting up your own business as it is no easy task, but the rewards can be great if you do right by your clients and have a good action plan which I have found after only 6 months in business(moved out of the bank aligned employee world)

If you are considering doing your own thing, then there are some simple questions you're going to need to answer for yourself and this is something my business mentor has taught me. Bear in mind the answers may not be simple, but the questions are:

1. What products and services you want to deliver?

Given your background and experience, what is it exactly that you intend exchanging with customers for money?

It may seem working in a multi-million dollar business with hundreds of thousands of customers, that customers are easy to find. But starting out a new enterprise, with no brand, no marketing, no customers can be tough. The first customer might be the hardest thing you'll ever search for.

But if you have skills and experience, and you research the value someone puts on what you have to offer, then you'll be off to a flying start.

Be careful, because we've found nearly 80% of business owners never do enough research before they start their own thing.

2. Who is your target

Particularly important to this question is who in your personal network could be a client/referrer of people in that target audience. It never hurts to have some referred business to kick start your operation.

Beyond the personal network, what’s the plan for building a database of prospects/clients. Once the easy warm leads from friends dry up, what's your plan?

Who is your support network - who helps but may not be a client - so who will supply stuff to you, enable you, support you etc

3. The numbers

What will it take to reach my aspirations/goals in terms of income prospects and targets,

Also bear in mind revenue is not income. As a business owner you could have a lot of costs like setting up the business, book keeping, stationery supplies, manufacturing costs etc.

If you want to earn an income of $50,000 from your business, you might need to turnover 2 or 3 times that depending on your product or service.

4. Sanity Stuff

Coming out of corporate and starting own business the things you run into as barriers are:

Having to do it all yourself at the start - you'll be the chief cook and bottle washer in your start up months. Don't go looking for the person to book your accommodation, or buy the stationery, or ring the client back or answer the phones, or vacuum the office. Because if you look in the mirror you'll see the person doing all that.

No resources - big business have photocopiers, computers, toilets, toilet paper, and lots of other stuff. You'll have not much and everything you have will need to be employed to make you money.

There will be loneliness working out of the home office possibly. And the distractions of washing up, washing your clothes, grabbing another cup of coffee etc etc.

5. Values

Probably the most important thing you have to answer is what do you want to stand for - what do you love, how do you mix your passions with your work. Starting your own thing means you're in charge and your view on life will not be molded by anyone else's values or what the corporate stood for anymore. You get to decide, which is both scary and awesome in equal measure.

I hope this helps and you can contact me on the below details should you want to have a further chat as there are alot of things to consider before setting up your own business such as Asset protection, capital funding, cash flow analysis etc.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2
351 Oran Park Drive
Oran Park N.S.W 2570
T: (02) 9188 1547
M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
F: https://www.facebook.com/RPWealthManagement
answered
Q: A friend who is a fund manager suggested we should look at using derivatives to generate additional income as part of our investment strategies. Can we get some advice on how this works?
A: Hi Drew,

Thank you for your question.

Fund managers tend to use derivatives to create income in portfolios in a number of ways, especially at a time where cash and fixed interest rates are low and the share market is quite volatile. A derivative is a contract between two or more parties who agree to the value of an underlying asset which can include investments such as bonds, shares, currencies, interest rates etc.

Strategies can include the following and will change with each fund manager:

Buying writes and selling put options.
Using Interest rate swaps
Purchasing shares that pay high dividends-
Investing in companies with Franking credits

Using derivatives to create income in a share portfolio is gaining popularity as there are a number of managers who use this approach to aim for a greater income return than your traditional sources. A number of benefits include:

- Reduced volatility

- Greater yields than dividends alone

- Potential franking credits

- Opportunity for some capital appreciation

- Risk management

The main objective of these strategies is to have exposure to a diversified portfolio of shares while paying income on a regular basis. Eg. Selling call options (also called a ‘buy-write strategy’) means the fund is effectively selling some of tomorrow’s possible growth on a stock for an income premium today to reduce volatility. Although the use of derivatives provides extra income, it comes at the expense of capital growth.

In rising market conditions, derivative income strategies have lagged significantly from a total return perspective compared to traditional dividend and franking credit funds. Some may argue that the derivative income strategies tend to hold up pretty well in down markets, meaning they could be used as a supporting player to offer relatively defensive equity exposure.

I hope this helps in giving you an indication of how fund managers use income strategies in their portfolios and I would highly recommend speaking with a Financial Professional about your options and what strategy may work best for you when taking into account your goals and objectives as this area may be a little tricky and it is best to know the advantages/disadvantages of going down this path.

Feel free to contact me on the below details should you require any further assistance.

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
Level 2
351 Oran Park Drive
Oran Park N.S.W 2570
T: (02) 9188 1547
M: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
F: https://www.facebook.com/RPWealthManagement
answered
Q: I have a desire to pool my wife's superannuation with mine and invest in a property. I understand that I must move into the SMSF to do this but what are the practical steps associated with the plan?
A: Hi Jimmy,

There are several steps and issues that you need to consider in setting up and implementing an SMSF, if your key focus is purchasing property. Lenders are tightening the rules and restrictions around lending money and I would say as a starting point you would want to ensure the combined balance of both your wife and your own superannuation balances are approx. $200,000.

You should allow for the whole process(Initial setup) to take a couple of months as well as factoring in the property purchase.

Setup of the necessary structures needed for the purchase of an SMSF include:
- SMSF Trust Deed
- Working account
- Bare trusts
- Corporate Trustees
- ABN and TFN setup

There are a number of costs associated with the initial set up of the above and a Financial Planner can assist in recommending the right strategy and ongoing management of the fund and work with your accountant and solicitor in getting this prepared.

If you would like a copy of a Free SMSF Basics Guide, please contact me on the below details and I will be able to provide you with some more in depth information.

Thanks,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
T: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
F: https://www.facebook.com/RPWealthManagement
answered
Q: I have just had my fourth child and my wife would like me to update our life insurance, How do i work out the amount?
A: Hi Peter,

Thank you for your question.

Insurance needs are different for each individual and it comes down to what position you want to leave your family in if something was to happen to you. Things to consider when choosing insurance coverage include overall debt, dependents, income, living expenses, education expenses and other factors.

You may decide to change your level of cover based on changes to your lifestyle every year. For example, if you have children and a large mortgage you may decide you need more cover. Alternatively, if you've paid off your mortgage or no longer have financial dependents you may decide that a minimal amount of cover is appropriate.

A Risk Adviser will work with you to identify gaps in your current situation and make insurance recommendations on what they see may be appropriate. As mentioned at the end of the day it is up to you to decide how much you want to leave your loved ones.

If you would like a further detailed chat about this and a complimentary risk review, please contact me on the below details.

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
T: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
F: https://www.facebook.com/RPWealthManagement
answered
Q: How do you know if you need life insurance?
A: Hi Tom,

Insurance needs are different for each individual and it comes down to what position you want to leave your family in if something was to happen to you. Things to consider when choosing insurance coverage include overall debt, dependents, income, living expenses, education expenses and other factors.

You may decide to change your level of cover based on changes to your lifestyle every year. For example, if you have children and a large mortgage you may decide you need more cover. Alternatively, if you've paid off your mortgage or no longer have financial dependents you may decide that a minimal amount of cover is appropriate.

A financial Adviser will work with you to identify gaps in your current situation and make insurance recommendations on what they see may be appropriate. As mentioned at the end of the day it is up to you to decide how much you want to leave your loved ones.

If you would like a further chat about this and a complimentary risk review, please contact me on the below details.

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
T: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
F: https://www.facebook.com/RPWealthManagement
answered
Q: How can I find a suitable financial planner?
A: Hi Sara,

A good financial adviser is someone who will understand your financial goals & objectives and create a tailored plan to achieve them.

Ask the adviser about their typical clients. This will help you judge whether they have the experience to deal with people with similar issues and goals to you. For example, are the adviser's other clients planning for retirement or are they young families wanting to save for their children's education?

The amount of experience an adviser has is also relevant. For example, an adviser that has recently graduated may be highly qualified; however, they may not be as experienced as an older adviser with fewer qualifications.

It seems that you are interested in superannuation and SMSF advice so you also want to ensure that the Planner is accredited to give this type of Advice. The initial meeting with an Adviser should allow you to determine if you get along with them and they understand your needs and is usually complimentary so won't cost you anything out of pocket.

If you are interested in having a further chat about your options, please contact me for a complimentary discussion.

Kind regards,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
T: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
answered
Q: Unsure if my husband and I should take out life insurance and what institution should I approach?
A: Hi Antonella,

Life insurance is designed to let people provide for their families financially when they die. Many people decide they need to take out a life insurance policy when they start a family, or when they buy their first property and want to make sure they would not leave significant debts behind for their loved ones to deal with so choosing the level of benefit and provider normally depends on your current circumstances and what features you are looking for.

Other insurance options may include Total and Permanent Disability insurance, Trauma insurance and Income Protection which provide a benefit payment while the life insured is still alive.

Premiums can be funded either via your superannuation or after tax income.

If you would like to know more about your options, I am happy to speak with you further and offer a complimentary risk assessment.

Kind regards,

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
T: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au
W: www.rpwealthmanagement.com.au
answered
Q: How much does a standard Statement of Advice from a financial planner normally cost?
A: The cost of the Statement of Advice will depend on its scope. As a guide, expect to pay between $550 and $1200 for simple advice and between $2000 and $4000 for more comprehensive advice which may incorporate several strategies. If you've agreed to ongoing advice, some of the cost may be paid over time with the initial fee reduced.

If you receive advice about insurance, you may not have to pay for the SOA as the Adviser will be paid commissions from the insurance company if you choose to go ahead with the recommendations. These commissions are usually paid back to the Insurance company whether you do this through an Adviser or not.

Even if you decide not to proceed with the adviser's recommendations, you will generally be expected to pay for the preparation of the SOA to take into account the time and effort the Adviser has put into the Plan preparation..

If you decide to accept the adviser's recommendations there may be a fee for implementing the advice. This pays for administration work. You may be able to negotiate the rate with your adviser.

There are usually different payment options. You can agree to pay upfront or the cost can be deducted from the investment such as paying from your superannuation benefits and not impacting your after tax cash flow.

Every office will have their own process so it it best to know what you are paying for before proceeding.

If you would like to speak about your specific query further then please don't hesitate to contact me on the below details:

Ronald Pratap
Principal Financial Adviser
RP Wealth Management
T: 0434 502 079
E: ronald.pratap@rpwealthmanagement.com.au