Online at http://www.financialcareservices.com.au/newsletters/vol-3-ed-4/

FINANCIAL CARE SERVICES
Independent aged care, lifestyle and financial advice for seniors
Volume 3 Edition 4 – 30 April 2013

Hello

What does it cost for financial advice?

A common question that often attracts a vague answer. As from July 2013, your financial planner can no longer be rewarded via upfront commissions on the products sold to you.  Alas, your accountant/adviser may still charge ‘asset based’ fees for advice regarding your investments. Read this item for examples of how the Future of Financial Advice legislation, FOFA, is changing the way financial planners are rewarded.  http://www.financialcareservices.com.au/2013/04/24/commissions-on-financial-products

Financial Care Services charges professional fees

Financial Care Services is an independently owned financial advisory service.  Clients of Financial Care Services are charged fees based on the complexity of their situations and the extent of the written advice required.  The fee for a Statement of Advice is agreed in advance; Financial Care Services does not accept commissions in respect of client investments.   Any payments from investment managers are credited to the client’s fee account at Financial Care Services.

Updating Centrelink about ‘personal circumstances’.

Many Centrelink, and DVA, benefits have different payment rates for single and partnered claimants.  At Centrelink, any two adults who share domestic arrangements and present socially as a couple could be treated as ‘partnered’ effective from the date they moved in together until the date that one moves out.  Read this item for more detail about how to inform Centrelink of any change in your personal circumstances. http://www.financialcareservices.com.au/2013/04/10/personal-circumstances-at-centrelink-or-dva  Centrelink require the Partner Details form to be printed and a signed paper copy submitted.

Call Centrelink to have a paper form mailed out?

Many hours of valuable time can be saved by downloading forms from the Commonwealth Human Services website rather than calling Centrelink.  Just one visit to Centrelink is then needed to lodge the completed forms and allow Centrelink to photocopy the supporting documents.  Try searching at http://www.humanservices.gov.au/customer/forms/centrelink-forms

Social support and edible treats for our immigrant elders

Finally, migrant carers can be encouraged with edible goodies in the cuisine of their countries of origin. When grandpa longs for sauerkraut and knackworst for supper, you can order it as a ‘one off’ or in regular meals on wheels style deliveries.  European sweet treats are available also.
The many ethnic associations offer social support for their elders and residential aged care using the heart language and customs of their cultural group. More information at the Centre for Cultural Diversity in Ageing www.culturaldiversity.com.au

NEW CENTRELINK ADVICE SERVICE
After many requests for specific assistance to help understand Centrelink requirements, I am pleased to now offer a special 45 minute consultation by phone or in person to assess your entitlements.  To book your appointment please call 03 9808 0338.

____________________________________________________

Christine Hopper
Director
Financial Care Services Pty Ltd
Independent aged care, lifestyle and financial advice for seniors in Melbourne, Victoria, Australia
Australian Financial Services Licence Number
299570 (check this at www.search.asic.gov.au/fsr/flb.html)
Authorised Representative Number
252529 (check this at www.search.asic.gov.au/fsr/far.html)

Telephone – call +61 3 9808 0338
Email – contact info@financialcareservices.com.au
Address – mail or meet at 172 Warrigal Road, Camberwell Victoria 3124
Website – visit www.financialcareservices.com.au
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Past newsletters – see http://www.financialcareservices.com.au/newsletters
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Disclaimer: The information contained in this newsletter is of a general nature only and does not constitute “financial advice”. You should obtain your own personal financial advice before investing any money or moving in to any retirement village, lifestyle community or aged care facility. Financial Care Services is licensed to provide financial advice to individual clients based on their personal situations.

© 2013 Financial Care Services Pty Ltd. All rights reserved.