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Robert (Not Real Photo)

Robert (Not Real Photo)

Robert is 37 years old and is a Senior Financial Controller at an ASX-listed infrastructure and engineering group. He is married with two children and has an annual salary of $280,000 (excl. bonus payments, share options etc.).

Robert purchased his first property on Sydney’s Northern Beaches when he was 28 for $450,000. He purchased again in 2010 for $1.6M, retaining the first property purchase as an investment. Both properties were purchased using the mortgage broking services of baldwinwicks. Robert today has a mortgage of approximately $800,000.

In 2011 Robert accepted an offer to relocate himself and his family to Perth with his current employer to undertake an assignment that was to take around 2-3 years.

With both properties realising good rental returns, and with his move to the West, Robert knew he was not going to be able to commit any time to managing his finances and to develop a strategic financial plan to diversify into other asset classes, minimise taxes and build sufficient funds for himself and his family in retirement. Robert was also aware that he had no insurances in place in the event of unforeseen difficulties, poor health or even death.

Robert was going to be a long way from way for an extended period of time and knew he would have no time to commit to managing his finances.

A Total Client Solution for Robert was required. Robert had worked with us for a number of years with his property investments. As Robert’s trusted advisers and in recognition of us being across all aspects of his current financial position (all assets and liabilities) and his future objectives for himself and his family, Robert appointed baldwinwicks Financial Advisers to develop and implement a strategic financial plan and manage all aspects of his financial affairs.

The benefits to Robert and his family have been substantial. Immediately prior to leaving for the West, Robert met with Alex Kean of our financial advice firm so that during his secondment he would have a single point of contact and a trusted adviser that was able to develop and implement a superannuation strategy, a direct investments portfolio and tax effective investments using managed funds across a range of asset classes. Additionally, baldwinwicks Financial Advisers insured Robert at levels appropriate to his total financial situation which by now had extended to include two properties, his superannuation fund, some managed investments and direct equities.

The future looks very bright for Robert and his family. Robert returned to Sydney in early 2013. In a flat residential property market, and having built up more equity in his properties as a result of living away from home, Robert decided to sell both properties and purchase a larger family home – in need of a bit of work – for $1.7M.

Using their integrated and complete understanding of Robert’s financial situation, we were able to manage the mortgages from the sale of both Northern Beached properties and to source the most appropriate mortgage for Robert’s new purchase on Sydney’s lower north shore.

We continue to look after Robert’s complete financial situation as with a growing family and a career going from strength to strength, he simply doesn’t have the time.

baldwinwicks is an independent Australian Credit License holder License Number 413388. baldwinwicks Financial Advisers Pty Ltd is a Corporate Authorised Representative of Millennium3 Financial Services Pty Ltd, Australian Financial Services Licence No. 244252.