Software recommendation /

neK said:
Well its not like they can go see a paraplanner that provides outsourced paraplanning services :)
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Why not? Property is not a financial product and you don't need to be licenced to provide services to the public in relation to direct property investments.

I'm actually in the process of bringing the service (writing property investment plans) to the marketplace.
 
[/QUOTE=neK;

(This is much easier to say than Go find a financial planner who listen and note down your situation, outsource the financial plan writing and modelling to a 3rd party, then present the plan as their own) :p[/QUOTE]

I am shocked that this happens ????
 
You are right ... we live in the world of outsourcing !

I assumed a Financial Planner would do this 'in house' as part of getting to know their clients.

I would not go near one !!!!
 
Mrfab

I was more concerned when I looked at the website you posted and it had a sample property report. Included was a calc for cgt which had two errors.

1. Division 40 capital allowances were included as an add back but the figure was zero yet was in the capital allowance claims.

2. There was no allocation of the acquisition price and sales price for plant and equipment.

So the cgt calc was wrong in the sample report which concerned me.
 
Mr. Fabulous said:
Why not? Property is not a financial product and you don't need to be licenced to provide services to the public in relation to direct property investments.

I'm actually in the process of bringing the service (writing property investment plans) to the marketplace.
Click to expand...

I'm sure a good lawyer could argue that one.

Not saying you aren't capable of holding a licence to be a FP, and the likelihood of you being able to see way more than they can see is probably very high. However unless you are actually hold a licence, you simply cannot give advice.

At some point advice is going to have to given whether you like it or. You should know that. If i asked you know how many times an adviser (ie your client) has asked you for your opinion on how to optimise something i would expect your answer to be words to the effect of "i lost count'.

Now translate that back into an end client, there is never going to a client who will tell you EXACTLY what they need without ever asking you "what do you think I should do, is there a better way to do this". The moment you answer this, it can be constituted as advice, especially given you are charging a fee for it. And well, if you don't answer, expect them to be dissatisfied, simply because clients are humans and humans can be irrational.

Unless the property financial plan is general in nature (at which point its no different to writing a book). Regardless, I'd be interested to see it in the marketplace without holding a licence. I think the market needs something like this, but litigation is a pain in the backside.
 
Success said:
You are right ... we live in the world of outsourcing !

I assumed a Financial Planner would do this 'in house' as part of getting to know their clients.

I would not go near one !!!!
Click to expand...

Most financial planners are glorified salesman. That said, there are good ones out there. Although I haven't met or talked to them in person, based on their posts, i believe there are 2 good ones that contribute to this forum. :)

Modelling can a tedious task, sometimes its better to have someone who a real eye for such detail to do the modelling. This frees up time for a person who is better at piecing the overall picture together and has the ability to explain the modelling in easier to understand language.

(That said, not all paraplanners are good either - its no different to any industry).
 
If the plan included any analysis of tax projections which it would need to then it would need to be prepared by someone with a tax agent license. Exemption at the moment for financial planners. So any cgt calcs and advise on those calcs is the provision of tax advice. That would be an immediate breach.
 
Edit: removed due to incorrect assumption that I run or have anything to do with the business/sample report coastymike was referring to.
 
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MrFab

You've jumped to an incorrect conclusion which is strange.

I was referring to the sample report posted on the website you put up (don't know whether these reports are yours or bezdex http://www.bezdex.com/bdwp/wp-conte...rt-for-13-Bigtree-Street-Broome-WA-672511.pdf They have a CGT calc on Page 7 to which I was referring.

Terry hasn't provided me with anything you have produced. I've never seen the reports done by Terry to be honest.Anything he is does in his other businesses is seperate to PTS. PTS is merely tax and structuring. His law firm provides seperate legal advice and that I don't have anything to do with that.
 
coastymike said:
MrFab

You've jumped to an incorrect conclusion which is strange.

I was referring to the sample report posted on the website you put up (don't know whether these reports are yours or bezdex http://www.bezdex.com/bdwp/wp-conte...rt-for-13-Bigtree-Street-Broome-WA-672511.pdf They have a CGT calc on Page 7 to which I was referring.
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Mike, I don't run the bezdex site. I have no connections whatsoever with that business and no relationship with the owners. I've never done any work for them or produced any reports for them, samples or otherwise. It would have avoided a lot of confusion had you mentioned that was the website you were looking at. The only reason I mentioned it above was because I was aware of it's existence and Success was asking for software options.
 
Hi Success,

I run a free tool online that does most of what you are trying to do.

http://www.numbrcrunchr.com/

You can also change things like deposit, interest rate etc. and also download the final spreadsheet.

Let me know if you have any questions.

Thanks
Srini
 
neK said:
Xplan and COIN. :)
Though its not exactly for end users.

Best to see a financial planner who can model out these scenarios for you.

Last time i did some financial modelling for an adviser i charged them close to $1k. Their fee would have then been added on top of that for the end client.
Click to expand...

S h 1 T... A short reply but very clear. Unqualified. Fps aren't qualified to calc tax liabilities
 
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