When Financial Planners and Accountants Collaborate – YOU WIN

Arm yourself with many perspectives; create diversity among your professional advice team. And experience the power of having a team of financial professionals working together to create your lifestyle potential.

Financial Planners and Accountants

Financial Planners and Accountants working together means: 1+1=3 or even 5

At RJS Wealth Management, these two financial professionals are able to work together, so you can experience the dynamic combination of Financial Planners and Accountants working as one towards a common goal (your lifestyle potential). A team of financial experts sharing their skills and experience can be far more valuable than an Accountant and/or a Financial Planner working independently. Why? For many reasons but often simply because of professional pride. When finance professionals work together, 1+1 can really = 3 or even 5. They can bounce energy and ideas off each other, turning every stone to find what more is possible for you. Each professional has a different qualification, a different expertise and a different lens that could be used to help you.

What an Accountant might be best at

Accountants may be qualified as a CPA or CA, but unless they are authorised as a representative under an Australian Financial Services Licence (AFSL), they cannot provide financial strategy nor financial product advice. They can advise on plenty of other business and personal related matters, like tax planning, advice and strategy (GST, CGT, Income, Sales and many more) as well as depreciation, and small business advice like business advisory, business structuring, business insurances, budgeting and reporting compliance2.

While the tax and reporting side can be important to do well and get right, the area where a great deal of value could be added, is in business advisory. Business advisory specialists could advise on the best practices for a particular industry, business and situation. Modoras business advisory specialists assist businesses with cashflow management, growth planning and projections, risk management and succession planning.

How your Financial Planner can add the most value

With financial strategy advice that is tailored to individual financial circumstances. Before they give any advice, they can ensure they find out as much as they can about you and your financial goals2. They can also (if appropriate and with permission) speak to your Accountant to get an idea of what your personal or business financial situation is, so they can take this into account when developing a plan for your financial future. Your planner can also help you protect what’s most important to you. Perhaps through structuring your wealth and/or insurances such as life, critical illness, total and permanent disability and income protection.

Financial Planners and Accountants

Good things happen when Accountants and Financial Planners work together

RJS Wealth Management was built on the foundation of co-operation between financial professionals. Our success rests on seeing the value of sharing knowledge and skills. So invite us along on your financial journey. You’ll be amazed how far our expert guidance can take you.  Call us on (03) 9794 0010.

Sources:
1. Mansfield FP – June 2017: Accountant vs Financial Planner
2. American Express – Small business Articles: The difference between your Accountant and your Financial Planner.

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This blog has been prepared by RJS Wealth Management Pty. Ltd. ABN 24 156 207 126. RJS Wealth Management Pty. Ltd. is a Corporate Authorised Representative (No. 438158) of Modoras Pty. Ltd. ABN 86 068 034 908 an Australian Financial Services and Credit Licensee (Number 233209). The information and opinions contained in this blog is general information only and is not intended to represent specific personal advice (Accounting, taxation, financial, insurance or credit). No individuals personal circumstances have been taken into consideration for the preparation of this material. Any individual making a decision to buy, sell or hold any particular financial product should make their own assessment taking into account their own particular circumstances. The information and opinions herein do not constitute any recommendation to purchase, sell or hold any particular financial product. Modoras Pty Ltd recommends that no financial product or financial service be acquired or disposed of or financial strategy adopted without you first obtaining professional personal financial advice suitable and appropriate to your own personal needs, objectives, goals and circumstances. Information, forecasts and opinions contained in this fact sheet can change without notice. Modoras Pty. Ltd. does not guarantee the accuracy of the information at any particular time. Although care has been exercised in compiling the information contained within, Modoras Pty. Ltd. does not warrant that the articles within are free from errors, inaccuracies or omissions. To the extent permissible by law, neither Modoras Pty. Ltd. nor its employees, representatives or agents (including associated and affiliated companies) accept liability for loss or damages incurred as a result of a person acting in reliance of this publication.