The Future of Mortgage Broking and Financial Planning
One of the key pieces of advice that we give to any business owning client is to choose your referral partners wisely. The right one will align with your purpose, complement your own offering perfectly and provide additional value to your clients. We practice what we preach and were lucky enough to find our referral partner for all things financial planning and mortgage broking a while back, when Nick from Inovayt and his team just clicked with ours.
Mortgage broking and financial planning made total sense for an extended service offering – the Future Advisory community often uses us as their central hub for all things finance and business related, so being able to point you in the right direction, to a trusted partner, was a vital part of our service puzzle.
So, what do the mortgage broking and financial planning services encompass and why should you care?
Mortgage Broking is usually associated solely with home loans, when in fact this term umbrellas many different kinds of loans. Inovayt’s approach is the same as ours in that there’s no one size fits all option – everyone’s financial situation looks different and the team treats each circumstance as such.
First home buyer? Upsizer, investor? No matter the category you fall under, finding the right person to advise and manage your mortgage is absolutely key. Whether you’ve had experience in this space before or it’s the first time you’re dipping your toe into the property water, it’s a big and often scary process; one of the biggest financial decisions you’ll ever make. Get walked through the steps so you’re completely across the process and feel comfortable and educated before making any life changing decisions.
Ready to build or renovate your dream home? Inovayt can help to bring your vision to life by securing the right loan to make it happen. C-19 has changed the way many of us view our homes and the must-have items that now exist (home office, anyone?) and we’re sure there’ll be a spike in people looking to build or renovate next year.
Similarly, office spaces now have different requirements – the comforts people expect from their workplace have shifted, as have the layout and hygiene standards to comply with Covid-19 back to work plans. For many employers, this will mean it’s time for a refurb and it’s cash that many of us just don’t have sitting in the bank. Looping your broker and accountant into the spending decisions before pulling the trigger will mean you’ll end up with the most favourable outcome.
When’s the last time you considered refinancing? With interest rates at an all time low, there’s never been a better year to do it. The team will look through your current loan, and advise you on whether there’s now a better option for you. Saving money on interest repayments is a pretty good feeling…
This is funding for the purpose of building new residential and commercial development projects, including housing estate subdivisions, apartment builds, office blocks being repurposed and large scale property refurbishment. Funding can be for residential, commercial and mixed-use properties. Development finance requires an additional layer of expertise and it’s something that the Inovayt team certainly covers.
Financial planning is often something people leave until later in life, when they’ve got some money in the bank and are looking to create wealth. However, you’ll often get more out of financial planning earlier on, when you’re in the position to make good choices from the get-go. It’s not just a service for those who already have money, or if you’re over 40!
Do you know who your fund is with? What do they invest in? How much money is in your super account? These are questions that a surprising amount of people can’t answer. We get it – the world of superannuation is a large and confusing one. The Inovayt team will sit down with you, explain your current situation and present other options according to your goals and financial position. Best of all, you’ll actually understand superannuation and the power it holds.
Investing is a complicated and overwhelming concept if you don’t have the right know-how and support. It’s a common misconception that investing is only for older people, with existing wealth; which is incorrect. Starting early with the right guidance can mean you’ll be reaping the rewards for years to come.
This is another area that we find many clients are under educated in, and insurance is certainly something that every single person should be aware of. What types, why they apply to you and the best way to set them up. If you’re a business owner or have dependents, this is particularly important. Perhaps your situation has changed since organising your insurances years ago and they need to be re-addressed. Certainly worth talking about!
Lying on the beach with a cocktail and book in hand comes to mind pretty quickly when we envisage our dream retirement… all before the age of 50 of course ;). Planning for this huge life event is imperative to making sure you can enjoy your post-work years the way you want to.
Having a thorough understanding of your financial situation, and being financially literate, is one of the best gifts you can give yourself from a young age. Being able to make decisions from an informed place, knowing what you can and can’t afford, and understanding how to build your wealth put you ahead of the curb by a country mile.
Has one of these areas struck a chord with you? Get in touch with us today to discuss what you’re thinking and we’ll be happy to introduce you to the Inovayt team.