Benefits of using your accountant as your financial planner

Posted on February 6, 2018 by ATB Chartered Accountants

When it comes to meeting your financial goals, how well your investments perform is out of your control – but who manages those investments is . At ATB, we provide our clients with the greatest value proposition – our complete end-to-end financial services solution. Through delivering access to financial advice and information, while nurturing your personal and business finances, we are able to save you time and money.

So, what are the benefits of using your accountant as your financial advisor?

Understand tax

Tax planning is as essential in financial planning, as advice about insurance and investments. Through ensuring that your investment and tax strategies are on the same page, you will find an improved return on investment.

A qualified accountant is always looking at the big picture for their clients – what opportunities or strategies will benefit them in the long run? Through using your accountant as your financial planner, they will be able to integrate tax planning into your wealth creation strategy. This means they understand the tax implications of any investments made, and financial planning opportunities will align with your overall financial goals.

The following is a scenario where using your accountant as your financial planner could save you thousands. Bob and Jane are a couple living in Western Sydney. Bob earns $180,000 p.a. and Jane has no income. The couple are looking at purchasing an investment property to add to their wealth portfolio. They use their accountant as their financial planner, and are advised to purchase the investment under Jane’s name as they will pay less tax. Effectively, the first $18,000 of their property purchase is tax free. Bob and Jane are able to increase their investment through incorporating tax strategy into their financial planning!

Existing relationship

If you’ve been in business for 10 years, chances are you’ve also been working with your accountant for a similar length of time. Accountants have a deep knowledge or your personal and business circumstances and needs. With this, comes an existing relationship, and level of trust in their advice. And, they will have a proven track record of building your wealth.

It makes sense to use a trusted financial adviser who already has a deep understanding of your tax and business finances… and a proven track record of wealth management. A holistic view ensures that you can make the most of every opportunity when it comes to your financial future. Your personal and business goals and objectives can be integrated to provide you with the best outcome. And – your personal and business finances will be all under one roof meaning we have most of the required information already, saving you time.

If you’re ready to think more strategically about your future, talk to us about your financial goals, we’re happy to help.