Wealth Management in Tuncurry

Comprehensive Strategies for Lasting Wealth

Managing wealth effectively requires more than simply building assets — it’s about coordinating every aspect of your financial life to protect and grow what you’ve worked hard to achieve. At Midcoast Financial Planning Group, clients across Tuncurry, Forster, Taree and Port Macquarie receive structured, research-backed strategies tailored to their goals, cash flow and risk tolerance.

Our approach integrates investment planning, insurance, superannuation and estate structures to make certain every financial element works cohesively.

Comprehensive wealth management gives individuals and families a framework for stability, growth and succession.

To discuss how coordinated strategies can strengthen your financial position, contact 1300 854 764 to book a consultation.

Our Process

Our Proven Process helps us get to know you – your passions, goals, needs and wants. From there, we develop a customised financial plan that adapts and changes as your life progresses.

Estate Planning

Estate Planning will help to confirm your financial assets are distributed according to your wishes and managed effectively in the event of incapacity or death. This process typically includes creating a valid will, establishing enduring powers of attorney, and nominating beneficiaries within superannuation or insurance policies.

It also considers taxation and succession implications to prevent unnecessary legal or financial complications for loved ones. By documenting clear instructions and updating them as circumstances change, estate planning provides certainty, protects dependents, and supports an orderly transfer of wealth across generations.

Wealth Management

Life takes twists and turns that we can’t always see coming. That’s why it’s so important that we are prepared for life’s emergencies. You don’t want to leave it to chance.

An accident, sickness or death of a working age parent will almost always have a significant impact on the financial circumstances of the family. Despite this Rice Warner Actuaries calculate that over 95 per cent of families do not have adequate insurance. 

Having the right insurances in place can help protect your family and your income if the unexpected occurs.

There are different types of cover that fall under the broad heading of life insurance:

Life cover – also known as term life insurance or death cover, pays a set amount of money when the insured person dies. The money will go to the people you nominate as beneficiaries on your policy.

Total and permanent disability (TPD) cover – covers the costs of rehabilitation, debt repayments and the future cost of living if you are totally and permanently disabled. TPD cover is often bundled together with life cover.

Trauma cover – provides cover if you are diagnosed with a specified illness or injury. These policies include the major illnesses or injuries that will make a significant impact on a person’s life, such as cancer or a stroke. It is also referred to as ‘critical illness’ cover or ‘recovery’ insurance.

Income protection – replaces the income lost through your inability to work due to injury or sickness.

How we can help

Midcoast Financial Planning Group has access to a large range of insurers and we can tailor your wealth protection plan to suit your circumstances. We will make the insurance process as simple as possible and help you get the right cover to protect you and those you love with a financial safety net in the event that the unexpected occurs.

Aren’t I already covered through my work and the government?

You may be eligible for some compensations and entitlements depending on your situation (for example Workcover, Sick leave, Social Security). However will these be enough? Will you qualify? And what are the waiting periods?

To discuss your Wealth Protection needs please contact one of our qualified Financial Advisers at Midcoast Financial Planning Group on 1300 854 764.

Self Managed Superannuation

Self-managed super funds (SMSFs) are a way of saving for retirement. SMSFs are one of the fastest growing sectors of the Australian super industry. SMSFs give people full control of their own super fund, including all the legal and tax responsibilities associated with doing this. 

Is a self-managed super fund right for you?

According to Association of Superannuation Funds Australia (ASFA), SMSFs may be the right choice for you if you:

• are very knowledgeable about finance and legal matters
• have a lot of money in superannuation to make set up and yearly running costs worthwhile
• have enough money for ongoing expenses including professional accounting, tax, audit, legal and financial advice
• have a lot of spare time to research and check your super investments regularly
• have a lot of spare time to manage the fund
• have life insurance, including income protection and total and permanent disability cover.

What is an SMSF?

SMSFs are a legal tax structure with the sole purpose of providing for your retirement. SMSFs are regulated by the Australian Taxation Office (ATO).

• An SMSF can have 1-6 members.
• An SMSF is a trust structure and must have a trustee. There are two options: Corporate Trustee Structure or Individual Trustee Structure.
• Generally, SMSF trustees will use one central bank account to receive contributions and use that account to make investments.
• An SMSF must have a Trust Deed that sets out the governing of the SMSF
• An Investment Strategy must be in place that states how you plan to invest the SMSF assets
• A Binding Death Nomination will state who you would like you super benefits to be paid in the event of death
• Annual tax return and audit must occur every year

You can’t do it all yourself

Despite some people calling SMSFs ‘do it yourself super’ or ‘DIY funds’ you will have to work with some other people to meet your obligations. You will need an independent self-managed super fund auditor who is registered with ASIC to complete your fund’s audit each year.

In some circumstances, you will need a qualified actuary to provide you with an actuarial certificate. Each year, you need to value your assets at market value. In some circumstances, you will need an independent valuer who is qualified to do this; for example, to value artwork.

You may also work with:

• An administrator who will manage most of the day-to-day running of the SMSF. The legal and tax responsibilities are still yours even if you use an administrator.
• An Accountant to prepare financial accounts, statements and tax returns.
• A Financial Adviser for investment and estate planning advice.

How we can help

The team at Midcoast Financial Planning Group can assist you with the investment and estate planning strategies for your SMSF. We will recommend an investment strategy that is in line with your risk profile and incorporates your ideas about investing within your SMSF. We make the recommendations. You make the decisions.

SMSFs and Estate Planning is a complex area, but with our experience we will help to make sure your money goes to the right people at the right time.

What will your SMSF cost?

The costs of setting up and running an SMSF vary depending on, among other things, your circumstances, super balance, investment strategy and how you choose to manage your fund. The more complex you make it, the more it is likely to cost.

To discuss your SMSF needs please contact one of our qualified Financial Advisers at Midcoast Financial Planning Group on 1300 854 764.