We are sometimes asked about the difference between the services of a Financial Advisor and an Accountant. It’s important to know the roles of your professional services and to know that they work together as a team to help you with your financial plan. Depending on your situation, your team may also include a lawyer, we will explain how we can all work together to help you and why the financial advisor is central to your plan.

There is a difference between the role of a financial advisor and your accountant in helping you manage your financial affairs. There are separate license and qualification requirements. An accountant is not generally a financial adviser, and most financial advisers are not accountants.

• Your accountant will help you manage your personal tax reporting obligations or may be providing broader services for tax reporting if you run your own business. This is an invaluable service to help you fulfil your legal obligations when it comes to tax matters.
• Your accountant can help you navigate Tax Law and legally provide guidance on how to maximise your deductions that may legitimately reduce your tax burden
• Your accountant can also provide advice on business structures, complex tax matters and audits. Your account is all about tax. To help you, your accountant must be registered with the Tax Practitioners Board.

Your Lawyer, can help you with all legal matters. We will often work with your lawyer in regards to business structures and importantly, your estate plan.

Your financial adviser has a broader remit than an accountant. Under law, a financial adviser must be licensed and meet minimum education standards. Your Agile Wealth financial adviser, Richard Elmes holds a Masters in Financial Planning along with 25+ years relevant experience in financial services. As a result, your agile wealth financial adviser meets the education requirements of the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017. Your financial adviser, Richard Elmes (ASIC number 001252937), is an authorised representative of Advice Evolution Pty Ltd. (AFSL: 342880) who hold an Australian Financial Services License.

Your Agile Wealth Financial Advisor can help you manage current risks and issues and create a plan for the future. To do this, we consider all your relevant circumstances and take the time to collaborate with you, your accountant and lawyer, so we can act in your best interest. Agile Wealth can:

1. Help you figure out if you are on track financially
   • What’s the balance of your income and expenses?
   • Agile Wealth can help you identify your savings opportunities
   • Contact us for a Financial Health Check

2. Help you with building wealth
   • We can help you find the balance of a tax plan with a wealth creation plan
   • Is your investment risk management strategy appropriate? Agile Wealth can advise you on investments and managing risk
   • We can help you improve your strategies so you can make the most of your opportunities

3. Help you protect your wealth
   • Agile Wealth can help you check how much personal insurances you have versus how much you need
   • Agile Wealth can help you with the structure of your insurance and advise on tax consequences of how you set up your personal insurances
   • We can work with your accountant and lawyer on optimising your structure between business and personal ownership of insurances

4. Help you set up your super so it’s super
   • Is your super set up to meet your personal needs and objectives, or a default one-size-fits all solution? Agile Wealth can help you get the most from your super.
   • It is really important to realise that not all super strategies are the same. We can help you put together a personalised strategy to meet your own unique needs and requirements.

5. Help your family to manage wealth
   • You may be the steward for family wealth and want assured investment options for future generations.
   • You may want to enjoy seeing the next generation thrive and benefit from family wealth before your passing. You may simply want to save for the family future.
   • At Agile Wealth, we will always discuss why you are investing. Investing for purpose can change the lens through which you view your money.
   • We can work with your lawyer on estate planning to ensure you have the best plan for your needs

6. Help you get ready for retirement, or manage your money in retirement
   • Like any new chapter in your life, preparation can go a long way to ensuring you retire with a sense of financial freedom not fear.
   • An Agile Wealth financial advisor can establish sustainable income streams, assess your eligibility for concessions and assist with age pension assessment and opportunities to increase what you receive
   • Agile Wealth can help you assess the need for prudence and stewardship of your capital in retirement and assess what is safe to spend and what you need to save
   • Contact us for a Financial Health Check

7. Help you with estate planning
   • Agile Wealth has expertise in estate planning to prepare you to meet your solicitor
   • Your Agile Wealth financial adviser can assess asset structures, review tax risks and help you review family estate plan
   • We will assist you in working with a lawyer so your financial plan works for your needs

Your Agile Wealth financial adviser can work in conjunction with your accountant and lawyer as a team of service professionals. Together, we provide a range of critical services and you can have peace of mind that you have a team of professionals behind you, helping you with any situation that may arise.