OUR CLIENTS

Meet Mark & Sally (early 50s) are proud 3rd generation farmers from Central West NSW. They have twin boys away at boarding school.

With their mixed farming enterprise plans coming to fruition and only a few years’ of boarding school fees remaining, Mark and Sally saw a need to focus on where to direct their current surplus cash-flow. They also want to ensure they have the optimal ownership and operating entities to enable options and flexibility for the next generation should they want to carry on the family business.

How has Minchin Moore helped you?

“Firstly, they took the time to really get to know us personally and our hopes and key goals for the future. They identified possible issues or problem areas and worked closely with our solicitor and accountant to fix those areas and implement the recommended changes. Essentially they developed holistic plan tailored specifically for us.”

How detailed were they in their planning?

“They left no stone unturned. They collated our various superannuation accounts and correctly aligned them to our risk profile and plans for the future. Also, even though we thought we were uninsurable, Minchin Moore even organised accident only cover should the worst happen on the farm.”

What about the future?

“The estate management process conducted by Minchin Moore was collaborative and transparent. It left us feeling very comfortable as to future options for the whole family. Previously we were so stressed and unaware of our options.

They even provide balance sheet and cash-flow modelling to stress-test various income scenarios considering the unpredictability of the seasons. This service has just been invaluable in our decision making.”

Meet David (42) and Kathy (42) who have three children. Both parents enjoy well paid jobs but have noticed as their kids are getting older their expenses are increasing. David and Kathy want to comfortably afford their children’s education and activities but at the same time build their wealth. Work is stressful so they also want to continue taking regular holidays with their family.

How did Minchin Moore help you?

“They initially established an agreed set of personal and financial outcomes that we were both keen to achieve. They also completed a budget to see how we were spending our money, and to identify what excess cash-flow is available for investing. They then prepared cash-flow advice, firstly showing how we can build wealth without changing jobs, and secondly agreed a cash-flow plan going forward so we can be better prepared for any unexpected expenses, without substantially cutting back on our lifestyle.”

What else did they do?

“They reviewed our current superannuation funds and insurance policies to cut out any unnecessary costs. They made sure our superannuation was set up appropriately and aligned with the retirement lifestyle we wanted for ourselves and our family. They also updated our insurance cover so it continued to provide a suitable risk management strategy for our family.”

How did you find the experience?

“The entire team at Minchin Moore were wonderful. Extremely professional, collaborative and knowledgeable. They also established an investment strategy outside of superannuation and provided advice around a more efficient tax structure going forward. We are extremely happy.”

Meet James (57) and Jane (58). James is a Senior Partner at one of Australia’s leading law firms. Jane (also a lawyer) does a range of consulting and pro-bono work. They have two adult children at home – One a university student and the other starting their physiotherapy career.

James, after a distinguished career, is preparing for the next stage of his life. He plans to retire from the intensity of his current role and find a new position with a slower pace and less hours.

When did you first become clients of Minchin Moore?

“About 10 years ago. We were both on high incomes and wanted to make the most of that stage of our lives. We wanted to be smart about building our wealth by gaining expert advice instead of adopting the DIY ‘guess and giggle’ approach like many people.”

What was your goal at the time?

“Obviously to secure a comfortable and possibly even early retirement. However, we also wanted to ensure our children had an inheritance that was significant enough to help them at their stage in life, whatever that might be at the time.”

How has Minchin Moore helped achieve those goals?

“In those early years they focussed on growing our wealth aggressively and the results were truly dramatic. Over recent years the focus has shifted towards moderate growth with higher levels of capital protection in order to avoid risking our hard earned cash and investments at this later stage of our careers.”

Do you consider yourselves risk takers?

“Not at all… In fact,  I’d say we’re actually quite conservative. Minchin Moore provided valuable cash-flow and capital modelling of various scenarios to help us better understand how our lives might play out financially. Because of that we always felt confident and never like risk takers.”

James, you’re about to wind down your career?

“Yes, and my income will drop substantially. However, thanks to Minchin Moore we’re able to maintain our lifestyle without jeopardising our investment nest egg.”

One particular not-for-profit institution is governed by a Board who have traditionally retained the vast majority of their investment fund in cash and term deposits.

Recently, with interests rates falling and with the organisation needing to partly fund itself from a declining stream of interest income, the Board felt it needed professional investment advice.

Why Minchin Moore?

“The Board was already aware of Minchin Moore through existing industry connections. We’d heard good reports about them and decided to approach them to seek counsel on how we could structure our investment portfolio to provide a better income, but without taking unnecessary risks.”

How did that ‘get-to-know each other’ period work?

“They had a number of meetings with the Board and its sub-committees in order to gain a detailed understanding of the organisation’s requirements, and likely tolerance for risk. The initial part of their engagement was focussed on the review and amendment of the organisation’s Investment Policy Statement (IPS).”

What was the result of those early meetings?

“Minchin Moore helped the Board better understand its fiduciary obligations in regards to the investment portfolio. From there they developed a new IPS which was presented, discussed and finalised with the Board. They then developed a detailed investment plan designed to be congruent with the new IPS”

How is Minchin Moore involved these days?

“They present to the Board on a quarterly basis and provide a comprehensive and bespoke report on our investments. As Board members depart and new members are appointed, Minchin Moore run an induction workshop in order to ensure each individual Board member is fully versed in the IPS and the organisation’s investment philosophy.”

Meet John (38) who has recently sold his IT business, and together with Hamish (45), they’ve saved a significant deposit to purchase a new

house by building up their offset account. They aren’t sure of the best wealth accumulation options for them in building wealth for their future.

How has Minchin Moore helped you both?

“Minchin Moore reviewed our options in regards to upgrading versus building wealth in addition to our house, and provided unemotional advice with respect to trade-offs for us to consider in building wealth for the future. After considering our options, we decided to remain in the current house and build a non-superannuation investment portfolio by purchasing an investment property in John’s name, and some listed securities in Hamish’s name. We also agreed to reinvest our excess cash-flow in the listed securities portfolio to maximise our tax position.”

Tell us about your ongoing relationship with Minchin Moore

“As part of our ongoing relationship we meet quarterly under an ‘investment committee’ style relationship. We need to feel confident we’re making the right decisions with our money, and value having someone independent to keep us accountable and on track in implementing our wealth accumulation plan.”

So you’re in a better position financial thanks to Minchin Moore?

“Absolutely! …We were in a great position before but we’re in an even better position now.”

Meet Henry (71) and Melissa (68). Henry is one of Sydney’s most esteemed architects and whilst semi-retired still consults to keep his mind active. Melissa has always played an active role in Henry’s business even when their family was young. Today, she continues to help with the books and stays informed on investment matters.

How would you describe your relationship with Minchin Moore?

“Definitely a collaborative partnership. Over the years they’ve played a pivotal role in our journey to financial independence. They’ve managed our investment portfolio brilliantly and worked with us to define, refine and evolve our investments as our lives and circumstances have changed.”

You used the word ‘collaborative’. In what way?

“Every decision and every scenario is discussed in detail within every possible investment climate that might affect us. The goal is always to make the most sensible decisions. We listen to them. They listen to us…and together we’ve achieved amazing results over the years.”

Amazing in what way?

“We’re now extremely well positioned financially and now spend considerably less each year than the income produced from our investments.”

What’s been the main investment focus?

“Our key issues have revolved around the stewardship of our investment portfolios, both within super and outside super in various trusts. More recently, we’re considering at our age the most sensible transition of wealth to our adult children, who by the way have also become clients of Minchin Moore.”

Meet Sandra (45) who recently went through a divorce. Sandra always delegated the finances to her ex-husband and has now discovered that things aren’t as rosy as she thought. Having inherited the family home with no mortgage, and earning good money, Sandra has high disposable income. Sandra has never sought financial advice before but she wants to ensure her finances are set up correctly, and wants to be confident that she can become financially independent in the future.

How has Minchin Moore helped you?

“Minchin Moore worked closely with me to firstly understand the key financial outcomes I wanted to achieve. They reviewed my current income, expense and asset position, and provided some cash-flow scenario modelling, which allowed me to make some concrete decisions moving forward with respect to investing my excess cash-flow. They also provided expert advice around structuring my income to be more tax effective.”

What other value did Minchin Moore add?

“They established a new superannuation fund so I could better control my superannuation fund costs. They implemented a listed securities portfolio for both my superannuation and non-superannuation portfolios. They developed a superannuation contribution strategy to ensure the maximum would be contributed into superannuation in the lead up to my retirement. They also reviewed my estate planning to ensure my wealth is passed on as I want, and in the most efficient way.”

So life after divorce is not so scary?

“Not anymore! It’s actually looking better than ever thanks to Minchin Moore (laughs)”