Protecting what’s important

Every year we review the insurance for our cars, homes, even our pets, but for some reason we don’t pay the same attention to the insurance we have on ourselves. It doesn’t make any sense, particularly when you consider the greatest risk facing your family is your capacity to earn money. Minimising that risk starts with asking some difficult but important questions. If you die, get sick or disabled:

    • Will your family’s standard of living suddenly diminish?
    • Will your loved ones be left with massive medical bills which are impossible to cover?
    • Will your income dry up overnight?

The only true way to counter this risk is through savings and insurance. For some people with substantial assets, insurance may not be necessary, but for most of us insurance is an essential backstop to the worst-case scenario.

Click below to hear from Matt Schlyder, Founding Director at FWO, on how to effectively minimise your risk, and how an appropriate level of insurance cover fits within your Financially Well Organised strategy.

Your Family’s Financial Security

The idea of personal insurance is to protect your family’s assets and income to ensure they have the ability to make choices. There are four main types of personal insurance that should be considered in any Risk Plan.

Our Risk Plan guide below discusses the important details of the key insurances, to help guide in evaluating what cover is right for you and your family’s circumstances.

Download the guide here

Discover practical tips for your risk management plan.

Should the unthinkable happen, careful prior planning is essential when it comes to providing for our family’s future.

The 10 key elements to becoming Financially Well Organised

When you have a clear strategy for each of the elements, you will be  Financially Well Organised and you too can have peace of mind your financial affairs are in order.

Disclaimer: This material has been prepared for general information and does not take into account the objectives, financial situation and particular needs of any particular person. Readers of this page should seek professional advice to confirm that the products or strategies mentioned are appropriate in the light of their particular needs, objectives and financial circumstances prior to acting upon any information contained herein. While reasonable care has been exercised and the statements contained herein are based on information believed to be accurate and reliable, neither The Advice Exchange nor its directors, employees, agents or Authorised Representatives shall be liable (unless otherwise required by law) for any loss or damage suffered or caused to any person or corporation resulting from or contributed to by any error or omission from such statements including any loss or damage caused by any fault or negligence on the part of The Advice Exchange or otherwise. Liability limited by a scheme approved under Professional Standards Legislation. FWO Financial Services Pty Ltd ABN 31 121 576 412 is a Corporate Authorised Representative 307410 of The Advice Exchange Pty Ltd ABN 55 107 629 194 AFSL/ACL 278937.

You might also like to read

Tax Distributions for Professional Firm Profits

After more than three years, and much anticipation, the Draft PCG outlines the ATO’s risk assessment process to determine if a Principal’s distribution profits from the firm is at risk of further ATO compliance review.

Read more
The Most Important KPI for your Law Firm’s Profit Growth

Not enough firms understand the importance of measuring and taking action to improve the fundamental KPIs around production management, in order to improve margin.

Read more
Ensure Your Firm’s Survival

The cost structures of your firm are fundamental to its longevity. Understanding the link between more revenue and additional costs required (or the opposite), cost allocations, fixed or marginal costs has significant impact on profitability.

Read more
Your Firm has Real Value

Principals of firms are constantly undervaluing, or even disregarding the value of their firms. More specifically the dollar value of its goodwill. 

Read more