Profile Blog

Retiree clients looking to sell their property can often contribute more to their SMSF than expected through the government’s recently introduced downsizer contribution rules, due to the flexibility to split contributions between spouses and use them in conjunction with other contribution rules, according to Fitzpatricks Private Wealth.

Speaking at SMSF Adviser’s SMSF Summit 2019 event in Brisbane, the advice firm’s head of strategic advice, Colin Lewis, said it was possible for clients approaching their 65th birthday in particular to double their contribution amounts by making use of the downsizer and bring-forward contributions and potentially splitting contributions with their spouse.
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Unfortunately, of recent times there has been no shortage of negative press, comment and sentiment about financial planners but what is the real picture?

Firstly, a 16-year long study by Vanguard found financial planners improve investment performance over time by around 3% net.

This is not insignificant and means that even for small investors, a financial planner will not only pay for themselves but provide the expertise to help navigate and manage two major threats to the success of investment strategies, namely, market volatility and emotion. A win-win for all.
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Cybercrime – reduce your online risk

By Lena Ridley, Head of Operations


Every year, thousands of Australians and Australian businesses fall victim to online crime, or ‘cybercrime’. In the first 3 months of 2018 alone there were 14, 189 reports made to the Australian Cybercrime Online Reporting Network (ACORN). That was just the ones reported!

The financial services industry will always be a prime target. Our IT systems, supplier contracts and internal policies place client data, as the single most important asset our business needs to Read more

Philanthropic Giving – Part 4

By Todd Stanford, Senior Financial Planner

Following our three-part series on planned giving that focused on a structure known as a Private Ancillary Fund (PAF) – a PAF requires a significant donation to make the structure feasible (of at least $500,000).  This article discusses an alternative to a PAF called a Public Ancillary Fund that requires a much lower donation (of $50,000 in most cases).

There is still much consistency between a Public Ancillary Fund (PuAF) and a PAF, especially around the tax benefits and grant making.

What is a Public Ancillary Fund (PuAF)?

A PuAF is a communal tax exempt philanthropic trust that enables a number of donors to establish and name a ‘sub fund’ under the broader PuAF structure.

With a sub fund, the donor does not need to worry about the trustee obligations and responsibilities associated with a PAF and can put their energy into choosing charities they would like to support.


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Philanthropic Giving – Part 3

By Todd Stanford, Senior Financial Planner

“To give away money is an easy matter and in any man’s power. But to decide to whom to give it and how large and when, and for what purpose and how, is neither in every man’s power nor an easy matter.” (Aristotle c. 384 B.C. to 322 B.C.)

This is the final chapter in our series on private planned giving structures and covers the most rewarding part of philanthropy – giving the money away! (otherwise known as grantmaking).

We cover grantmaking as it applies to a Private Ancillary Fund (PAF). The detailed workings of a PAF were considered in my last blog.

There is no single right way to grant. Grants can be for general purposes or to support specific projects or programs.

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