Personal CFO Case Study
The Issue
John, the Managing Director of a small textile manufacturing business was so caught up in his business that he didn’t have the time or knowledge to look after his personal affairs. When he came home from work all he wanted to do was relax and play with his three children. John was also concerned that his job wasn't necessarily meeting his personal financial objectives.
The Solution
We worked closely with John to determine his personal, financial and lifestyle goals and objectives. We developed a strategic plan for him and made recommendations. John made the final decisions and we implemented and monitored these decisions. We helped him by overseeing and coordinating his family’s ongoing financial affairs. For example, with a view-only internet access to his bank accounts we monitor John’s cash flow and help ensure his family has sufficient cash for all the necessities.
A single point of contact for his:
- Accountant
- Stockbroker
- Insurance Agent
- Banker
- Real Estate agent; and/or
- Solicitor
Services provided:
- Problem solving and an independent sounding board
- Ongoing face to face meetings and reviews
- Strategic planning
- Tax planning and structuring
- Superannuation strategies
- Estate and succession planning
- Risk management in the case of your death or disability
- Asset protection from creditors
- Investment advice
- Banking, finance and debt management
- Cash flow management
- Personal budgeting
- Bill paying
- General financial advice to children under age 30
The Result
Using the Personal CFO service, John, now has the comfort of knowing that everything is being professionally looked after. John can come home at night and hang out with his children with the peace of mind that his personal CFO has his family’s financial and lifestyle goals and objectives in check and on track.
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