All Topics / Help Needed! / Financial Advisor

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of Daniel MareDaniel Mare
    Participant
    @daniel-mare
    Join Date: 2008
    Post Count: 7

    I have about $10000 currently – will need this whole amount by end of year.  Also trying to save for a house and will be putting away at least another $20000 this year and the next until I have enough saved up to buy a house.

    I am trying to figure out the best place to save this money and have been looking at managed funds, fixed term deposits, shares, etc.

    I am also interested in some insurance, would like to select a better Super fund and wondering about a few other things.

    To make sense of it all, I am wondering whether it might be worth seeing a financial advisor, but I most definitely will NOT be seeing any "free" financial advisor who makes money on commissions, because I believe it's impossible for such an advisor to act in MY best interest.

    Can anyone recommend a good investment for my situation or a good financial advisor in the Perth area who does not derive commission from products they sell?

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Have you thought about rolling your existing super into your own smsf (self managed super fund) and using it to buy property?  Banks will loan up to 80% for such a purchase, so your smsf would just need 20% deposit, stamp duty, legal fees and a couple of extra thousand for incidentals…

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of Kent CliffeKent Cliffe
    Participant
    @kent-cliffe
    Join Date: 2011
    Post Count: 110

    Hi Daniel,

    Have you thought of talking to a Stock Broker regarding your situation? Most managed funds have a 3+ year timeline for investment. If you get a good broker and explain your plan, they would be able to point you in the right direction. Most of my clients who use a broker and me personally stay away from IPOs and pay the broker on performance.

    The SMSF idea is good, but most people need a minimum of $200k in their fund and you can't refinance and re-leverage. So not such a good strategy for a younger person.

    If you want me to give you some names, let me know.

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.