“ If a person enters a low level care facility or a residential aged care home that offers extra services and their assets are above a certain amount, they may also have to pay an accommodation bond, the amount of which is not set but subject to negotiation between the person going into aged care and the service provider ,” said Mr Stander. “Some of these accommodation bonds can be more than $500,000 depending on the particular aged care facilityHowever, it is important to note that if the person entering the aged care facility has assets of less than $44,000, they cannot be asked to pay an accommodation bond. ” “ Because of the complexity of the aged care sector, not just in terms of the cost of residential care but also carer and pension entitlements, effective financial planning is key to achieving the best outcomes for everyone involved,’’ said Mr Stander. Further, new aged care reforms were recently legislated and will be effective from 1 July 2014. The changes will be phased in over a number of years, which could add more complexity and further decision making for those thinking about aged care. “ From a financial perspective, an increasing number of our clients ’ are concerned about what type of investment strategies they need to put in place to adequately fund the aged care requirements of either themselves or their parents. For example, one of the most common questions we get asked is whether an account based pension or annuity is more beneficial in terms of being able to maximise Centrelink or DVA benefits and whether this pension or annuity income may affect their aged care fees. “ Also, to identify and implement the right aged care, sufficient time needs to be spent exploring all available options as well as appropriate financial management and investment strategies ,” said Mr Stander. “ Effective financial planning helps take some of the emotion out of the decision making process as the key points are agreed well in advance. “Of ten client’s do not want to ask their parents if their Last Will and Testament is up to date or suggest they put a Power of Attorney agreement in place. Additionally, many are concerned they may not fully understand their duties and obligations if they are appointed executor of their parents’ estate . “ We work with our clients to ensure all of their questions are answered and appropriate plans are put in place well in advance of them having to make what are difficult, complex and emotional decisions. This planning helps give our clients, and those they are caring for, greater peace of mind. ” About Centric Wealth Centric Wealth is a leading high-end wealth advisory firm with offices located in Sydney, Melbourne, Brisbane, Canberra and Newcastle. Centric Wealth has a network of 52 advisers across financial planning, risk insurance, corporate benefit services, lending services, general insurance and family office services. Centric Wealth has approximately $4.1 billion in assets under advice (AUA). The group manages billions of dollars of life insurance coverage and has over $1.3 billion in loans under advice and other debt instruments. The group has one of the highest AUA per adviser, but with one of the lowest number of clients per adviser in the Australian financial planning industry. Centric Wealth has no institutional ownership. www.centricwealth.com.au Media Contact Phillipa Healy Head of Marketing and Client Strategy 0478 491 210 02 9250 6500 firstname.lastname@example.org
This internal communications program was developed for our client, Origin Alliance, to ensure everyone on the $1.95 billion project remained focus on finishing the job safely, productively, and cost effectively during the final 12 months of construction. The program helped deliver some outstanding results with the D2G Project being delivered six months early and approximately 10 per cent under budget.
This program was developed for our client Bentleys to support their investment in a unique piece of market research into the Small and Medium Enterprise Sector in Australia.
Most recent example of an Award Submission produced by SMC & Associates. This entry won our client, Origin Alliance, a national Engineers Australia 2013 Award for Project Management.
Janet Saunders is a ormer Australian Financial Review journalist who has been providing top class communication, media relations, and writing services to government and corporate clients across Australia or more than 17 years.