Wealth Creation Accountants Perth
Brentnalls WA are trusted and reliable wealth creation accountants in Perth, Western Australia. We have provided wealth creation and financial planning services to hundreds of businesses in WA and throughout Australia for the past 24 years.
Our team of experienced, hardworking wealth creation tax accountants and business coaches will implement a variety of strategies to grow your business and set up for future success.
What do wealth creation accountants do?
Wealth creation accountants perform a multitude of activities to focus on helping you thrive financially personally and professionally. Their goal is to help you accumulate wealth to meet your personal needs and to assist you and your business by implementing strategies to protect your wealth.
Our team of business accountants and advisors utilise proactive and strategic planning and management to encourage your business’s growth. We draw from our experience and business insight to help you succeed in a trustworthy and legal manner.
Wealth Creation Process
To get the best results in terms of the wealth creation process, it is essential to consider both your current position and future goals. At Brentnalls WA, we follow a unique wealth creation process to achieve your goals and address the key issues and opportunities from a personal and business perspective.
To help you grow a sustainable profitable business, we need to understand your personal financial goals and personal plan. Once we understand your personal plan, we can then focus on the plan for the business. The personal plan looks at all aspects of your personal and business life to identify and address any key issues, including:
- a lack of clear and common business goals among the various business owners;
- a business owner approaching retirement;
- business owners working too many hours which impacts on their personal life e.g. not being there for children growing up or lacking time to pursue hobbies.
The personal plan process will prioritise your business, family and personal goals into a structured plan. In addition, your plan considers:
- your short-term and long-term goals;
- your succession plan;
- risk management;
- your estate plan;
- your retirement plan, including any funding gap in relation to your retirement needs.
Through this process, we work with appointed specialist legal and financial planning professionals to ensure you have a plan suited to your circumstances and aligned to your personal and financial goals. In collaboration with your appointed financial planning professional, your plan will consider various superannuation and pension strategies to ensure you maximise your after-tax position.
Your plan will be regularly reviewed to ensure it remains relevant and to make sure you keep on track to achieve your goals. This plan is your ‘peace of mind’ to ensure the financial security of you and your family.
Wills and Estate Planning
60% of Australians die without a current will. Did you know that your will only deals with the assets of your estate (essentially assets held in your name)? It does not include assets like your family home (if held as ‘joint tenants’), insurance and superannuation policies, and assets held in your family trust and your private company.
We take a holistic view from a financial and legal perspective to ensure your personal, family and business interests are protected.
We ask important questions to make sure you are prepared and to assist you in preparing for future success. In the event of your death, or if you get sick, suffer memory loss, or become incapacitated:
- Who will manage your investments or pay the household bills?
- Who will be the guardians to look after your children?
- What will be the impact on your business? Can the bills be paid?
- Do you have an appropriate partnership or shareholder agreements in place to protect your family?
Our focus is to protect all your interests for today and in the future. Our comprehensive estate services are your peace of mind to reduce the burden on family and friends. From your personal perspective, we can prepare your estate plan and organise your powers of attorney and any guardianships.
Asset Protection Review
In addition to personal and business financial planning, and wills and estate preparation, we can also review your assets and determine a plan to protect and secure existing assets.
We will review your various entities – including directorships, ownership of assets and security for personal loans to the business – from a risk protection perspective to ensure you are covered should an unexpected event happen. We can also help you organise risk protection insurance to safeguard your business.
We also facilitate regular family council meetings to ensure the interests of the family are understood and protected.
Wealth Creation Services
In addition, we can assist you with the following wealth plan services:
- Business and personal budgeting & cash flow planning
- Preparation of an asset protection plan
- Estate planning
- Co-ordinate the setup of a Self-Managed Superannuation Fund (SMSF)
- Preparation of a business succession plan to achieve your goals
- Retirement planning
Why Choose Brentnalls WA?
Contact Brentnalls WA
We are here to help you and your business thrive financially. Contact us today for more information on our wealth creation services or request a free business review to start protecting your business’s assets today.