Welcome back!
Scene One – Providing Entity
Hi Fabiana! Josh here from Wealthpoint, presenting to you your personalised video Statement of Advice today. My authorising licensee and contact details are on the screen now, should you wish to reach out to me at any time. Okay, lets get right into it.
Same as all scene 1
Scene Two – The Client
Fabiana you are approaching retirement and are keen for finish work as soon as you can as you been working long and hard as a Nurse and would like to relax, travel and enjoy like in retirement
Fabiana sought advice to consolidate her superannuation, reduce fees, and optimize her retirement income strategy as she approaches retirement.
Fabiana you are keenly approaching retirement and have been working long and hard as a Nurse. You would like to relax, travel and enjoy life in retirement. You are seeking advice to consolidate your superannuation, reduce fees and optimise your retirement income strategy as you approach retirement.
Show her as a 64yo woman in nurse uniform. Then show her sitting on a chair on the beach with a drink in her hand and a plane. Show two buildings labelled superannuation on top with a + sign between them, then show line graph with green arrow pointing down with label "Fees".
Scene Three – Scope And Goals
I want to consolidate my superannuation to simplify management and reduce overall costs.
I aim to ensure a stable retirement income while maintaining flexibility for future contributions.
We agreed that this advice covers your superannuation platform, investments held within superannuation, and pension advice. You would like to achieve stable income in retirement while maintaining flexibility for future contributions.
Scope:
1. Superannuation (platform)
2. Superannuation (investments)
3. Personally held investments
Goals:
1. Earn stable income in retirement
2. Flexibility for future contributions
Scene Four – The Advice
North offers lower total fees and greater flexibility compared to Netwealth. The TTRP provides a tax benefit that is estimated to be $3,750 in year 1.
Market risk associated with the new Betashares portfolio, which has a medium-high risk profile. Potential delays or administrative errors during the transfer process, which could temporarily disrupt access to funds.
Roll $64,000 from Super SA SSS to North, leaving Super SA SSS open for insurance and contributions
Consolidation into North reduces fees while preserving insurance coverage in Super SA SSS.
Potential changes to insurance terms in Super SA SSS due to the reduced balance, which may affect coverage. Market risk in the new portfolio, as the Betashares option has a higher growth allocation than her current Super SA SSS Balanced option.
My first advice is to rollover the balance of your existing Netwealth transition to retirement Pension to a North Super transition to retirement pension and invest the funds in Betashare Portfolios. You will save overall on fees, will have greater flexibility compared to Netwealth and will achieve a tax benefit estimated to be $3,750 in the first year. However, please note that the funds invested within Betashares may fluctuate as they are growth investments, and that a rollover may result in administrative costs and delays to access funds. My second advice is to rollover $64,000 of your Super es aye triple S balance also to the North pension. Consolidation into North reduces fees and allows for simpler management. Further, retaining a small amount in your Super es aye allows for preservation of your insurance coverage you hold within the fund. However, please note that you need to maintain the minimum balance in Super SA triple es in order to maintain your insurance. Further, please note that there is market risk in your Betashares investments within the North fund as the Betashares option has a higher growth allocation than the investments in your current fund's balanced option.
Nest with Netwealth logo arrow to Nest with North logo, blue arrow labelled with "full balance". Then arrow from North nest to just Betashares logo. Under all this, put green tick label "save fees overall", green tick label "investment options and flexibility", green tick label "tax benefit of $3,750 in Year 1", red exclamation label "growth investments may fluctuate" and red exclamation label "rollovers can result in admin costs and delays"
Building with Super SA logo on top and then blue arrow labelled "$64k" pointing to Nest with North logo on top. Under North nest, add two labels: green tick then "reduced fees" and green tick then "ease of management". Then under SuperSA building, add one label: green tick then "preserve insurance cover". Then in bottom row in the middle, put red exclamation mark with label "potential changes to insurance cover" and another red exclamation mark with label "market risk due to high growth investments"
Scene Five – Fees And Costs
Product fees
For this advice, there are three elements of fee you need to be aware of. The first is a one-off advice fee of $900, which covers the research, formulation and implementation of this advice.
The second is an ongoing fee which amounts to $389 per month. For this fee, you will receive an offer of an annual review, an offer of various projections and reports to ensure you are on track, and access to me and other Wealthpoint staff throughout the year.
The third set of costs are ongoing product costs. As you can see outlined in the following table, compared to your existing situation, you save over $1,700 a year in product fees. The next table below shows that in addition to the fee savings, North has superior features that are more relevant for your circumstances.
Same as previous Josh scene 6. For first table, show the "Cost Analysis" table, without the "Cost Analysis" heading, but with the "Total Current Fees" line underneath. For the second table, show the "Comparison of Feautres" table, including the title.
Scene Six – Disclosures
Right, we have now finished outlining the advice and have some important information to go through.
First of all, this Statement of Advice is prepared for you only and therefore should not be implemented by anyone else.
Secondly, we have based this advice on information which you have told us, so please let us know if any information contained in this video does not accurately describe your current situation or is incomplete.
Next, Wealthpoint does not have any third party interests or associations with any product providers recommended to you, and the advice is therefore not conflicted.
Please note there may be a 30-day cooling off period with respect to the financial products we have recommended, during which you may make amendments or request refunds.
And finally, please note that the advice in this video is valid for a period of 30 days. If you have not confirmed acceptance within this time, we may need to revisit your circumstances.
Fabiana, this advice purely considers your interests only, and is therefore in your best interests. If you wish to proceed with my advice, please respond to the email by completing the authority to proceed section within the email. Otherwise, if you have any questions, please let me know. Thank you!
Same as Josh scene 6