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Financial Planning, Superannuation & SMSF Specialist in Hornsby, Sydney NSW

We are Panacea Wealth Management

Having gathered sources of the best minds in the industry, we believe that experience is a classic combination of hard work and education. Financial planning is not just livelihood for us, we live for it. Our individual focus is on one goal – to secure your financial future.

Authorised Representative No 1240015 of Lifespan Financial Planning Pty Ltd ABN: 23 065 921 735


NSW Police Association

What do we stand for?

Panacea Wealth Management is a member of The Police Asssociation of New South Wales and proudly supports the New South Wales Police force.

The Police Association of New South Wales (PANSW) represents the professional and industrial interests of approximately 16,500 members, covering all ranks of sworn police officers in NSW.

To view the Panacea Wealth Management Certificate of Support granted by the Police Association of New South Wales, please see here.

Our Services

Learn about the range of financial services that Panacea Wealth Management can help you with.

Our Process

Our experienced team will guide you through a process that is designed to help you achieve your goals.
Couple meeting with financial adviser
1. Gathering your Personal and Financial Information

This process ensures that we accurately understand your current situation and that our recommendations are appropriate.

After your initial consultation is scheduled with a Panacea Wealth Management Financial Planner we will provide a letter of confirmation, which will inform you of what information/documentation is required to bring to this appointment.

2. Getting to Know You

Not only is this a legal requirement to “know your client”, it is also critical to establish why you are seeking advice. At our initial consultation, we identify your goals, objectives and identify financial concerns or issues that may affect your financial situation. Once your initial goals have been identified, we invite you to complete a Client Questionnaire on your current situation.

After the conclusion of your initial consultation, we will advise you on how we can assist you and the associated costs involved in preparing your Statement of Advice (Financial Plan).

You will be provided with an Authority to Proceed to commence your plan.

3. Plan Preparation

Panacea Wealth Management will research, analyse, formulate a strategy and prepare your Statement of Advice (Financial Plan).

You will receive a comprehensive document confirming your current situation, goals, objectives, our recommended strategy and instructions on how to implement that strategy.

Our Statement of Advice will include projections and modelling to highlight the expected outcomes of our recommendations.

4. Plan Presentation

The purpose of this meeting is to present your Statement of Advice (Financial Plan) which includes our recommendations, also to work with you to ensure you understand our recommendations and how they will assist you to achieve your goals and objectives.

After presentation of the Statement of Advice, you can accept our recommendations and implement the plan or implementation can be completed at a later date after you have had the opportunity to review your plan in your own time.

5. Implementation

The implementation process of your Statement of Advice (Financial Plan) will be explained in detail. It will also include the completion of the appropriate applications and documentation.

Our clients are updated throughout the implementation process.

6. Ongoing Service and Review

Panacea Wealth Management provides an Ongoing Service Agreement designed to help you keep your financial plan on track.

To monitor the progress of your strategy, ongoing reviews are essential and are scheduled on a regular basis. These reviews will incorporate any changes in your personal circumstances and updating of goals and objectives which may result in amendments to your plan.

Latest News

Read the latest industry updates from the Panacea Wealth Management news desk.
What millennials are thinking about investing and retirement

What millennials are thinking about investing and retirement

Vanguard surveyed more than 850 millennials in the U.S. currently aged 24 to 39, who make at least US$50,00...

Read More

Capital preservation front of mind for SMSF returns

Capital preservation front of mind for SMSF returns

 SMSF investors will increasingly be attracted to investments offering capital preservation post-COVID...

Read More

Comprehensive list of COVID-19 initiatives and packages.

Comprehensive list of COVID-19 initiatives and packages.

 The response by our Governments to the COVID-19 crisis has been a very good one.  Following is a...

Read More

Most SMSFs are still poorly diversified

Most SMSFs are still poorly diversified

 Data only just released by the Australian Tax Office, detailing the asset allocations for all SMSFs in the...

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Related party purchases must be clean

Related party purchases must be clean

 Trustees must ensure any purchase from a related party is not a proxy for a loan or financial assistance to...

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How your coming tax cut could pay off

How your coming tax cut could pay off

 Over the coming weeks, around 12 million working Australians will start receiving extra cash in their pay...

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Majority of retirees expected to fall short on retirement savings

Majority of retirees expected to fall short on retirement savings

 Recent research has revealed that more than half of retirees are projected to fall short of their desired...

Read More

Monitoring super performance critical in light of new measures

Monitoring super performance critical in light of new measures

While the government has announced plans to increase governance over the performance of super funds, super...

Read More

Budget 2020 - A very comprehensive break down.

Budget 2020 - A very comprehensive break down.

 The following 35 links break the 2020 Federal Budget down into bite size...

Read More

Calculators

Powered by ASIC's MoneySmart, these FREE calculators can help give you direction and motivate you to achieve your financial goals.
Financial Tools Calculators Resources

Please enjoy the links to these free tools supplied by MoneySmart - a great resource for general financial information. Please get in touch if you would like to discuss any questions that you may have as a result of using these calculators.

Contact Us

We'd love for you to get in touch and we welcome any enquiry that you may have.

Get in Touch

Panacea Wealth Management welcomes your enquiry. To book an appointment or simply ask us a question, fill in your details and we'll be in touch soon!

Financial Planning

General Advice

Financial advice is determining how an investor is going to meet their goals and objectives. It is about helping clients define their goals, gathering information and analysing data to make a plan, then implementing the plan and monitoring the results. It is also monitoring and updating goals and objectives as clients move through different phases of life.

Develop an investing plan

'Failing to plan is planning to fail.' It's a cliché but when it comes to investing money, setting and then attaining long term financial objectives, then it makes a lot of sense to have a plan. Also, history shows time and again that the sooner you can start the better the outcomes.

Steps to prepare

Attaining long term objectives is better served by setting some short term goals. For example, such milestones might be set for 1-3 years, then 4-6 years and then 7+ years.

However, just having a plan isn’t enough. It needs to be regularly revisited and amended accordingly. Like the initial drafting of a plan the ongoing monitoring can be complex, increasingly so due to an increasing number of rule and regulation changes. We can help you manage this complexity and provide ongoing monitoring.

Our primary aim is to help you attain your financial objectives.

Retirement Planning

Planning For Your Retirement

More and more people are realising that it is essential to planning well for their retirement.

It’s not just thinking about what to do with your money when you retire but how to maximise what you will have when you begin your retirement. To achieve this goal requires quality advice in the years leading up to retirement, the more the better. Time is needed if various strategies are to be implemented to make the most of your earnings in the pre-retirement period. The longer you plan for retirement and employ professional assistance then the greater the chances that your goal of a happy and prosperous retirement can become a reality.

Giving yourself enough time to plan your retirement is imperative but doing it right is even more so. There are many complex considerations to be managed and it is our job to ensure that your retirement goals and objectives can be met.

A wealthier retirement

While incomes have never been higher so to is our everyday spending and cost-of-living. Previous generations were more frugal but this is rarely the case anymore. Higher spending means that many baby boomers may struggle to get by after retirement on their savings, investment income and the Age pension. A problem made worse by increasing life expectancy.

The more professionally pre-retirees organise their financial affairs in the years leading up to retirement then the better chance of attaining the best results. Professional advice, along with the development of a quality financial plan, is something everyone should have as part of their pre-retirement ‘team’.

Superannuation

Superannuation is mandatory but taking an early and active interest in it is critical to ensuring the benefits it can offer are maximised by the time you retire. Many will have a superannuation scheme through employment but increasing numbers are starting their own Self Managed Super Fund (SMSF).

However, for many, simply relying on employer contributions may not be enough and you may need to look at strategies such as additional contributions or salary sacrifice. Older Australians will need to focus even more on their superannuation strategies because most came to this form of saving later in life.

It is always best to start saving and planning for your retirement as early as you can.

Insurance

Life insurance isn’t just a cost, though it often feels like it. You buy peace-of-mind that should a serious issue effect you then the consequences won’t unduly affect your family. Insurance provides you with the ability to manage the financial and emotional impact of some of the more drastic surprises, whether personally or in your small business.

Insurance can’t replace a loved one but it can help reduce the financial burden by providing the capital to ensure your family has choices.

A yes to any of the following questions means you have a need for insurance coverage. However, many Australians are underinsured and the consequences can be very serious for families should there be a death or serious injury.

  1. Do you have a mortgage?
  2. Do you have school fees?
  3. Do you have any personal loans?
  4. Do you have any credit card debt?
  5. Do you have dependents?
  6. Would your financial position be affected if you were to suffer from an illness or injury?
  7. Do you want to have enough capital to look after your dependents if you were unable to care for them for an extended period of time or perhaps indefinitely?

We understand that it can be difficult determining the type and level of cover you might need, let alone choosing an insurer. We can assist by helping you determine your needs and recommend an insurer that is right for you.

Self Managed Super Funds

Self-Managed Superannuation Funds (SMSFs) offer a good strategy option for many individuals, families and small business owners to build tax effective wealth and to protect assets over time. SMSFs are becoming popular for those who are ready to take control of their own super investments as they give you ultimate control and flexibility to manage your retirement benefits.

It must be noted though, that you will have increased responsibilities as a trustee of the fund. As a SMSF Trustee you need to keep up to date with all required regulations and keep up with the fast paced financial markets.

Panacea Wealth Management can work with you to understand your personal financial situation and decide whether a SMSF structure is appropriate for you. We will also make sure your assets are invested in the most effective way to maximise your retirement benefits.

It is generally agreed that there are a number of benefits of an SMSF but it is important that you also understand that an SMSF may not suit your situation, see below for some of the reasons why.

Benefits
Disadvantages

Running and managing a SMSF may not be suitable to everyone. For example, many of the advantages are also a disadvantage. Costs may be relatively high, there can be too much flexibility for prudent investing, remaining on top of trustee responsibilities can be complex and time consuming, and poor personal knowledge of the investment landscape can have serious consequences.

Should you wish to consider establishing a SMSF then we can help with: