Wealth Management Point Cook
Secure Your Family’s Future with Premier Point Cook Wealth Management.
Tim Wyatt2023-07-05“Passion, knowledge and a genuine interest in achieving the best for clients is what makes a truly professional Financial Adviser. Prashant has this and more. His dedication to clients, business excellence and education sets him apart. I would highly recommend my family finance to anyone wanting to achieve better financial outcomes.”
Sarah Cardamone2023-07-03I would highly recommend My Family Finance. Prashant was very approachable and was able to assist with even the smallest questions. With his kind presence and knowledge he makes finances seem less stressful. His advice helped my husband I with our finances and monthly budgets and mortgage advice. Would highly recommend.
Jose Diaz2023-06-23Thank you so much Prashant, Adiksh & Clarin. Thank you for helping us refinance our home loan. The process was made easy and super helpful to get us a better deal on a home loan. I can’t thank enough Prashant and his team, you guys are truly the best at what you do. We are so happy with the work you guys did for us. We were treated with the best customer service, everything was explained well and very informative. Highly recommend my family finance, they are super friendly and will look after you. Thank you again Prashant, Adiksh & Clarin we appreciate your work so much, you guys are the best.
Michael Gater2023-06-20Massive shoutout and many thanks to Prashant, Adiskh and Clarin for their fantastic help and support with the purchase of my first home. Also many thanks to Clare and the team at Falcone & Adams who worked with these guys. A+ service all round.
Kseniya Ivanchyk2023-04-18I am writing this letter to express my gratitude and highest regard for the services provided by The FAMILY FINANCE team and particularly – for Prashant NAND, Adiksh SHETTY and Clarin Dsouza. For the past 2 years, I have worked ‘hand in hand’ with those three experts who assisted me with impeccable professional end-to-end advice, support and guidance reference to finding the best lending solutions for my investment properties. It has been absolute pleasure working with The FAMILY FINANCE team within past few years! This has been my first ever entry in the investment property industry. Yet, I was unlucky whilst facing the post pandemic construction delays which most of other industries in Australia experienced. Furthermore, the RBA 10 times rate increments, economic distress and overall situation had massive impact on lending possibilities for many individuals; yet The FAMILY FINANCE team was always ahead and prepared to suggest the most comfortable business decisions for me. I was absolutely amused by professional conduct of Prashant and Adiksh, their industry and market knowledge, level of quality and/or integrity and most important, their overall level of support and cooperation was impeccable and just fantastic! At no one time had this team failed me. Prashant NAND, Adiksh SHETTY and Clarin Dsouza made complex banking process so simple, clear and efficient whilst they ensured that my mortgage and property investment items ( houses) are refinanced at the most comfortable rates, despite the economic distress and RBA rates increases. I have had an excellent experience with The FAMILY FINANCE Team and would be once again so glad to express and pass my highest regards and references about Prashant NAND, Adiksh SHETTY and Clarin Dsouza. Let me know if you need any further details to support the above.
S2022-12-09Great experience and follow up from Prashant and his team. Enjoyed working with him always.
Richard Debrah2022-12-01A great and big thanks to My Family Finance for their advice, negotiations and follow up of my home mortgage which was successful and in the 6th month now. At first I couldn't believe that it was possible to pay off my mortgage within 7 years but from the help of Prashant and his colleagues I am on your way to paying out my mortgage in under 5 years and this is how much I have come down on my loan in the first 6 months of working with My Family Finance. I consolidated my mortgage, credit cards, car loans and personal loans and paying any money I get into the mortgage and I can see the results now. I can't wait to be debt free and look forward to investment properties soon still with the advice, guidance and support from My Family Finance. Five-star rated and they are highly recommended. Thank you again, Prashant and your diligent mates!
Alexis Tajkman2022-11-01Very supportive and always willing to assist with any queries I have.
Orine Silveira2022-10-17Extremely professional, family oriented and caring. The experience we had was simple AMAZING. Both Adiksh and Prashant, held our hand through the journey of purchasing our new family home. They assured us very step of the way with the banks delay and kept us informed. Their relationship management skills, and knowledge in the industry make us feel cared for, heard and most importantly engaged through the process. Thank you for making our family home dream come true!
Chris Vella2022-08-09Prashant has to be the most patient guy I've ever worked with. He is down to earth and genuinely loves helping people. He is always available and present for conversations so you're never left feeling as though you've been rushed off a call whilst you have 100 answers you want answers to. Can't recommend Prashant high enough!
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How We Do It
At My Family Finance, Point Cook Office, we recognise that managing debt is among the foremost challenges families encounter on their path to financial liberty. This is why we’ve pioneered a unique Intellectual Property (IP) that enables families to rapidly and efficiently reduce their debts.
Our methodology integrates state-of-the-art financial strategies with personalised planning, making certain that the distinct circumstances of each family are fully considered. Here’s how our IP revolutionises your debt repayment journey.
Tailored Debt Analysis
We begin by undertaking a thorough analysis of your existing debt, considering interest rates, repayment periods, and the impact on your overall financial wellbeing. This enables us to pinpoint the most urgent debts and devise the most effective repayment strategy.
Customised Repayment Strategies
Utilising our proprietary algorithms, we create bespoke repayment plans that prioritise high-interest and significant debts. Our strategies aim to minimise the amount of interest you pay over time, allowing you to achieve a debt-free status more swiftly than conventional repayment methods would permit.
Budget Optimisation
Our Intellectual Property isn’t solely concentrated on debt repayment; it additionally integrates budgeting strategies to optimise your financial efficiency. By pinpointing areas where you can save more or reallocate funds more effectively, we ensure that every pound you earn is put to harder work towards realising your financial objectives.
Ongoing Support and Adaptation
As your financial circumstances change, our approach adapts accordingly. We provide ongoing monitoring and modifications to your plan, ensuring you stay on the quickest route to debt freedom, even amidst unforeseen financial shifts.
By combining our proprietary methods with a profound understanding of family finance dynamics, we’ve assisted numerous families not just in escaping the burden of debt but also in establishing a robust foundation for future wealth accumulation. Our dedication lies in supplying you with the tools, knowledge, and support required to navigate your financial journey with assurance.
Allow us to transform the dream of a debt-free existence into reality. With My Family Finance, explore the most efficient way to manage your debts and open the door to genuine financial freedom.
How We Work With You
Personalised Financial Planning
Specially tailored for Australian families in Point Cook and individuals with a diverse property portfolio, our services are crafted to cater to your distinct needs, ensuring that your wealth not only endures but thrives.
Expertise You Can Trust
Our team is comprised of renowned certified private wealth advisers, each bringing a wide range of expertise in asset and investment portfolio management.
Comprehensive Wealth Management Services
With our comprehensive suite of services, your financial future is in safe hands at Point Cook, Melbourne. From retirement to estate planning, we’ve got everything covered for you.
Exclusive Investment Opportunities
Gain access to investment opportunities typically reserved for institutional investors. Our extensive network of global financial partners in Point Cook, Melbourne, opens new doors for your wealth.
Transparent and Honest
At the core of our service in Point Cook, Melbourne, is a transparent fee structure, ensuring you’re always well-informed and in control.
Experience Tailored Point Cook Wealth Management
Our approach is profoundly personal. We understand that each family and individual in Point Cook, Melbourne, and beyond, has unique financial aspirations and obstacles. That's why our certified private wealth advisers commit themselves to devising personalised financial plans that cover everything from retirement and estate planning to tax-efficient strategies.
Welcome to the zenith of wealth management for Australian families, situated in Point Cook, Melbourne. In a world fraught with financial intricacies, our bespoke wealth management services shine, crafted specifically for individuals like you – those who grasp the importance of their family's future and the critical nature of meticulously managed assets, particularly when owning multiple properties.
How much money do you need to go to a wealth management?
The entry threshold for engaging with a wealth management service at My Family Finance in Point Cook, Melbourne, can differ significantly based on the firm’s policies and the range of services you require. While many wealth management firms are tailored towards high-net-worth individuals, often necessitating an initial investment from $250,000 to $1 million AUD or higher,
My Family Finance understands that financial aspirations and capabilities vary widely. Therefore, we may offer more flexible entry points for those with lesser amounts to invest. It’s crucial to conduct thorough research and communicate with various wealth management entities in Point Cook, including My Family Finance, to discover a service that best suits your financial status and goals. The focus should not only be on the minimum investment required but also on securing a partnership that provides the most beneficial guidance for your financial journey.
What is the difference between a wealth manager and wealth advisor?
In the context of My Family Finance in Point Cook, Melbourne, the terms ‘wealth manager’ and ‘wealth advisor’ are often used interchangeably, but there are subtle differences between the two roles that can impact your financial planning and investment strategy.
A wealth manager is a type of wealth advisor who typically offers a broader range of financial services and advice, encompassing investment management, estate planning, tax advice, and sometimes even legal assistance or specific banking services. Wealth managers usually engage with clients who have significant assets and complex financial situations, providing a holistic approach to managing their wealth across different facets of their financial life.
On the other hand, a wealth advisor tends to focus more specifically on offering advice related to investments and financial planning. While they may also provide guidance on issues like retirement planning, tax strategies, and insurance options, their services might not be as all-encompassing as those of a wealth manager. Wealth advisors work with clients across a range of asset levels, helping to devise strategies that align with their clients’ financial goals and risk tolerance.
At My Family Finance in Point Cook, Melbourne, whether you’re interacting with a wealth manager or a wealth advisor, the aim is to offer personalised financial advice and solutions that help you achieve your financial objectives. The choice between the two ultimately depends on the complexity of your financial needs and the breadth of services you require to manage your wealth effectively.
My Family Finance: Who We Are
My Family Finance stands as a beacon for Australian families and property owners in Melbourne, offering more than just wealth management services; it positions itself as a steadfast partner committed to securing a prosperous financial future for its clients. With an unwavering commitment to understanding the unique financial landscape of Australia, My Family Finance distinguishes itself through its deep understanding of the challenges and opportunities that Australian families face.
Our services are tailored to meet the diverse needs of our clients, encompassing everything from debt reduction and financial planning to property investing and budgeting. Located in Point Cook, we are strategically positioned to offer our expertise to a wide range of clients, ensuring that their financial goals are not just met but exceeded.
At My Family Finance, we pride ourselves on our ability to provide customised strategies that are specifically designed to address the individual needs of each family. Whether it’s navigating the complexities of mortgages, crafting a budget that maximizes your savings, or developing a property investment plan that aligns with your long-term financial objectives, our team of experts is here to guide you every step of the way.
Understanding that each family’s financial journey is unique, we offer bespoke solutions that are rooted in a comprehensive understanding of your family’s specific circumstances and aspirations. Our approach is holistic, ensuring that every aspect of your financial health is considered, from reducing debt to planning for a secure retirement.
In a world where financial security is paramount, My Family Finance emerges as a trusted advisor, dedicated to helping Australian families and property owners in Melbourne navigate their financial futures with confidence. Our commitment to excellence, personalized service, and proven strategies make us more than just a wealth management company; we are your partner in achieving financial prosperity.
Take the First Step Today
Don’t leave your family’s financial future to chance. With our certified private wealth advisors, you’re not just planning; you’re setting the stage for a legacy. Wealth planning, especially for families with multiple properties, requires foresight, expertise, and an intimate understanding of both local and global financial landscapes.
Schedule Your Consultation
Ready to take control of your financial future? Schedule a consultation today with one of our family wealth advisors. It’s the first step towards a secure, prosperous future for you and your loved ones. Don’t wait – the future starts now.
Your family’s legacy deserves the finest management. With our tailored strategies and dedicated team, your wealth is poised for growth, safeguarded for the future. Welcome to a service that comprehends your needs, celebrates your ambitions, and commits to your family’s lasting prosperity.
What is considered
high-net-worth?
In the context of My Family Finance Wealth Management, located in Point Cook, Melbourne, a high-net-worth individual (HNWI) is generally defined as someone who possesses a significant amount of investable assets. While the exact threshold can vary depending on the institution or financial service, it is commonly accepted that individuals with a net worth of $1 million AUD or more in liquid financial assets are considered high-net-worth.
Liquid financial assets typically include funds that can easily be converted into cash, such as stocks, bonds, and other securities, excluding primary residence, collectables, and consumer durables. This distinction is important because it focuses on the assets that can be actively managed for investment purposes.
The classification into high-net-worth can further be broken down into more specific categories by some wealth management firms, including:
- Very High-Net-Worth Individuals (VHNWIs): Those with liquid financial assets ranging from $5 million to $30 million AUD.
- Ultra-High-Net-Worth Individuals (UHNWIs): Defined as having liquid financial assets in excess of $30 million AUD.
For clients fitting these criteria, My Family Finance Wealth Management in Point Cook, Melbourne, offers tailored financial planning and wealth management services designed to meet the complex needs and goals of HNWIs, VHNWIs, and UHNWIs. These services often encompass a broad spectrum of wealth management solutions, including investment management, estate planning, tax strategies, and philanthropic planning, all aimed at preserving and growing their wealth over time.
Networth Classification Table
Net Worth Categories Chart
Affluent/Mass Affluent:
- Net Worth: $100,000 – $1 million AUD
- Description: Individuals in this category have a substantial amount of wealth compared to the general population but fall below the threshold for being considered high-net-worth.
High-Net-Worth Individuals (HNWIs):
- Net Worth: $1 million – $5 million AUD
- Description: HNWIs have significant investable assets and often require specialised financial services, such as wealth management and financial planning advice.
Very High-Net-Worth Individuals (VHNWIs):
- Net Worth: $5 million – $30 million AUD
- Description: VHNWIs have more complex financial needs, including estate planning, tax advice, and bespoke investment strategies.
Ultra-High-Net-Worth Individuals (UHNWIs):
- Net Worth: Over $30 million AUD
- Description: UHNWIs possess immense wealth and typically engage in sophisticated investment opportunities, philanthropy, and may require multi-generational wealth transfer services.
How do I find a good wealth manager?
Finding a good wealth manager, particularly for services like those offered at My Family Finance in Point Cook, Melbourne, requires a combination of research, due diligence, and understanding your own financial needs and goals. Here are some steps to guide you through the process:
01.
Define Your Financial Goals
Before starting your search, be clear about what you want to achieve with your wealth management. Whether it's retirement planning, investment advice, tax strategies, or estate planning, knowing your objectives will help you find a wealth manager who specialises in those areas.
02.
Ask for Recommendations
Start by asking friends, family, or professional colleagues for recommendations, especially those in similar financial situations. Personal endorsements can provide valuable insights into the wealth manager’s capabilities and client service quality..
03.
Research Online
Look for wealth managers in Point Cook, Melbourne, and review their websites and online profiles. My Family Finance, for example, may have testimonials, detailed descriptions of services, and potentially even case studies or articles that demonstrate their expertise.
04.
Check Qualifications and Experience
Ensure that any potential wealth manager has the appropriate qualifications, such as being a Certified Financial Planner (CFP) or having similar credentials. Also, consider their experience, especially in areas that match your financial goals.
05.
Evaluate Their Services and Approach
Understand the range of services offered. Do they provide the comprehensive services you need? Assess their investment philosophy to ensure it aligns with your risk tolerance and financial objectives.
06.
Understand the Fee Structure
Be clear about how the wealth manager is compensated. Is it fee-based, commission-based, or a combination of both? A transparent fee structure is crucial to avoid any hidden costs.
07.
Schedule a Meeting
Arrange a face-to-face meeting or a video call with the wealth manager. This is a critical step to assess their communication style, understand how they plan to manage your wealth, and determine whether you can build a trusting relationship with them.
08.
Ask Questions
During your meeting, ask about their client retention rate, examples of their success stories, how they handle market volatility, and how often they communicate with clients. Their answers will provide deeper insights into their working style and effectiveness.
09.
Review and Decide
After meeting with potential wealth managers, take your time to review the information and decide. The right wealth manager for you should not only have the expertise and services you need but also be someone you feel comfortable working with over the long term.
How do I choose a private wealth advisor?
01.
Assess Your Financial Goals and Needs
Before beginning your search, have a clear understanding of your financial objectives, such as retirement planning, wealth preservation, tax optimisation, or estate planning. Knowing what you need will help you find an advisor who specialises in those areas.
02.
Look for Qualifications and Experience
Ensure that potential advisors have the appropriate qualifications, such as being a Certified Financial Planner (CFP) or having similar credentials. Experience in the field, particularly with clients in situations similar to yours, is also crucial.
03.
Understand the Services Offered
Private wealth advisors offer a range of services. Confirm that the advisor provides the specific services you require, such as investment management, financial planning, tax advice, and estate planning.
04.
Review Their Investment Philosophy
It’s important that the advisor’s approach to investing aligns with your risk tolerance and financial goals. Discuss their investment strategies to ensure they fit with your expectations.
05.
Understand the Services Offered
Understanding how an advisor is compensated is crucial. Look for transparency in their fee structure, which could be fee-based (a percentage of assets under management), fixed fees, or a combination. Avoid advisors who rely heavily on commissions, as this may lead to conflicts of interest.
06.
Ask for References
Request references from existing or past clients. This can give you insights into the advisor’s performance and client service quality.
07.
Evaluate Communication and Compatibility
Your relationship with your advisor should be based on trust and open communication. Evaluate whether the advisor listens to your concerns, explains complex financial concepts clearly, and is someone you feel comfortable working with over the long term.
08.
Check for Regulatory Compliance
Verify that the advisor is registered with the appropriate regulatory bodies and has a clean disciplinary record. In Australia, this would be the Australian Securities and Investments Commission (ASIC).
09.
Interview Multiple Advisors
Don’t hesitate to meet with several advisors before making your decision. This will give you a broader perspective and help you compare their services, fees, and investment philosophies.
10.
Trust Your Instincts
Ultimately, choosing a private wealth advisor is also a personal decision. Trust your instincts about whether an advisor feels like the right fit for you and your financial future.
- By following these steps, you can make a more informed decision when choosing a private wealth advisor at My Family Finance in Point Cook, Melbourne, ensuring that they align with your financial goals, preferences, and values.
