For Uni Students who want financial confidence that's customised, affordable, online and takes just 15 minutes of your time

Superannuation

Our goal is to help you be in a much better financial position and Superannuation is a great place to start

  • Right now you probably have Super with several funds and are paying fees for each - So:

    • We will first search and find those funds. Then we will look at the details.
    • Often you will be paying for some Life and TPD insurance, maybe even some income protection and we will see how your money is being invested.
    • Then we will work out how much we can save you by putting each of those funds into 1.
    • Stop paying costs on multiple super funds - save money and pay for 1.
  • As a rule of thumb, every 1% extra in fees costs you 20% of the end balance of your Super. For example, if you would have $500,000 at retirement, an extra 1% in fees would mean you’ll only have approximately $400,000 if you have 40 years or more until retirement - so we work hard to keep this as low as possible whilst still recommending quality investments.

  • With that info we can see if and how we can help you:

    • So we will put together a strategy that will show you where you can save money and what products offer better value for money.
    • We will recommend strategies that will give you a big advantage in the future.
  • We will then go through all this with you and further improve the strategy. Once you are happy and understand any risks, advantages and disadvantages then you sign off.

Only then will we start implementing the strategy and making changes. You will also be able to come to us at any time if you want to ask about changing things

Insurance

Your Superannuation is probably already paying for insurance - but is it any good?

  • It's crazy how much cheaper insurance is if you lock in some at the beginning of your career - but you need to get the details and the balance right.
  • Do you have the right insurance in your Super?:

    • We can replace inappropriate insurance with a customised solution.
    • We'll find the best long term value insurance for you.
    • We focus on recommending the mix of cover that you actually need.
    • We only recommend high quality products.
    • We'll recommend better insurance or we'll tell you to leave it alone.
  • We have a program for insurance claims where we work with you or your dependants to make the applications and take the hassle out of the process.

  • What's the point of insurance if you can't claim?

  • Are you single without a mortgage and paying for $1,000,000 of life insurance - do you need it?:

    • We will work out exactly how much Life insurance you need.
    • You probably also have TPD (Total & Permanent Disability) but there are different type.
    • Is there something better you can be spending that money on like Income Protection? We can help!
  • With insurance it's about Details and getting the balance right - not just the amount of cover:

    • So we will look at what you need with a focus on quality and value for money.
    • Maybe you need less Life and TPD cover, but better conditions on the TPD cover?
    • Maybe you can spend less on Life and TPD and use those savings for Income Protection?
  • For students we typically recommend high quality, customised, Life + TPD cover, for $2/day in your Super.

  • Are you a smoker? Do you have a pre-existing condition? Have you informed your insurer? This is why many claims don't get paid. This is why we work with you to get customised cover.

  • We are also working on helping our customers with house & contents, car and health insurance.

Insurance can be really beneficial -but you need to get the details and the balance right

Investments

Do you know what funds you are invested and is it appropriate?

  • We want to add more transparency and offer you the ability to switch investments.

  • We believe building up a solid Superannuation base is important because:

    • You can access it or limited amounts under extreme circumstances such as financial hardship.
    • You have restricted investment options when you have a balance below $20,000.
    • With balances below $20,000 we don't recommend having a big exposure to growth assets because, at this stage, most of the growth of the fund will come from contributions.
  • We only want to recommend high quality investment products that are ethical and sustainable.

  • All financial advisers will assess your risk tolerance to determine your risk profile and recommend a portfolio that is invested according to how much risk you can take.

  • We feel that solely investing according to your risk profile is insufficient and so as your balance grows we take into account additional factors to improve your portfolio such as:

    • Things you love;
    • Companies you are interested in because you love their products or like how they operate; and
    • Your occupation and industry you work in.

Right now you probably have no idea what your money is invested in - big financial institutions probably prefer it this way. But we think your funds need to be protected when it's small and as it grows we believe you should have access to a portfolio that is high quality, invested ethically & sustainably plus is customised based on both your preferences and personalised risks.

 

Tax & Audit

Super payments, HECS fees, Medicare levy, saving for a property aarrrgggghhh it seems like a massive ripoff - We'll help you get it sorted

  • Maybe you work casual jobs and are at increased risk of not being paid all your Super. We can check that and help you claim.

  • Data shows 1/3rd of Australian workers are underpaid an average of over $2,000 a year in Super with an Industry Super study showing the main industry culprits are construction, mining, manufacturing and hospitality, with the shortfall in Super payment largely affecting young and lower-income workers. It's not just small companies as many big companies who have had issues so:

    • Fin15 will conduct an annual audit to help ensure you get paid the right amount.
    • We will be able to complete and lodge your tax return if you like.
    • This is included in the fees you will pay for Superannuation management.
  • Maybe you are earning between $42,000 and $60,000 per year and getting smashed by HECS repayments, the Medicare levy and have other benefits reduced. We want to help you get better outcomes and put yourself in a stronger financial position.

  • There are programs that can have big tax advantages depending on how much you earn such as the changes that allow you to save for a property through Super.

  • Currently, once you earn over $55,000 you suddenly have to repay 4% (or $2,200) in HECS - So if you are earning $56,000 we may recommend contributing an extra $1,500 to Super and you'd end up with an extra $700 in your pocket and you'll also have extra money in your Super!

  • From 2018/19 financial year that will kick in with 1% at $42,000, going up 0.5% at $2,000 increments and there's also other thresholds like the Medicare levy. But on the positive side you will be able to use the new scheme allowing you to save for a property in your Super and this can be really advantageous.

  • It's complex but that's what we want to help you navigate so that you will have an advantage over those who are not getting this help.

  • So when appropriate we will work with you and our accountants to take advantage and manage your income more tax effectively and we may be able to save you 1000's in taxes.

  • You want to buy a property in the next 5 years. Ok, we'll look at how we can tax effectively get you there?

  • We'll work with you to set savings targets for things like an overseas trip, a business or a property. This can be really beneficial as you start your career and you have a big increase in income so you can easily save a big % of that increase.

Our priority is to put you into the strongest possible financial position. Ensuring you are earning all your Super, having sensible insurance policies and implementing a savings strategy that helps you minimise tax should help you to be in a really secure position financially. It is also inline with our goal of creating 10x the long term value for our customers than we capture.

Basically, we'll create a strategy designed to put YOU in a much better financial position - If it works for you you can then sign off and we will get it all sorted. 

Coming soon...

Fin15 is currently finalising the legal and regulatory requirements to launch soon!

We are working with an independent group (=not a big bank) and working through all the steps so we have a solid base from which to start.

Our core team has over 50 years of experience in the financial industry and are fed up with how the industry treats their clients. We are on a mission to change that.

Once we are fully compliant we will open our service to a select group of early customers. To be one of our first customers please enter your email below: