EFS Advice Testimonials
Other testimonials from our clients
Man who survived a brain tumor
How did you feel before you sought our advice?
“12 months ago I faced death in the eye with a high-grade Brain Tumour diagnosis requiring emergency neurosurgery. I survived the operation but went on to claim against my TPD insurance. It was frustrating knowing that up to 22% tax would be payable on any funds withdrawn from Super at a time when I needed every single cent to provide for a family of five.”
How do you feel our financial advice has (hopefully!) helped you?
“I came across EFS financial advice via a related service run by Andrew that focused solely on TPD payouts from Super and tax treatment and commenced communication with the team.”
How are you feeling about things now?
“EFS advice to me was a game changer. Not only did I save 22% tax on any superannuation payouts, but I now receive a tax-free pension every month of an amount equal to or greater than what I was earning working full time.
Furthermore, my superannuation account is actually growing due to the power of compounding returns in a tax-free environment.”
Brother with Alzheimer’s
How did you feel before you sought our advice?
“Prior to receiving advice, I felt completely lost. My brother was diagnosed with Alzheimer’s dementia at age 54, in September 2020. As one of his Power of Attorney, I applied for a TPD payment via my brother’s super fund. The application was granted sometime later. The estimated tax on the payment was going to exorbitant in my view. Before releasing the funds, I looked for financial advisers who could advise about Super/TPD, Centrelink, and tax minimisation strategies, given that my brother was under preservation age. I tried to find advisers who specialised in the area in Adelaide, but my searches returned zero. I wanted specific advice from a company who understood the issues. I went to see a company in Adelaide that I had used in the past and I left feeling deflated as it was clear there was no real understanding of this niche area. I finally found EFS and spoke to Andrew Reynolds and Andrew Eadie. I had the initial statement of advice which I was very happy with then proceeded to a financial plan for my brother so that he could have the best possible financial security for the time he had left. Things improved markedly from there on in. As an aside, we also received advice about an inheritance we received in the interim which obviously impacted the advice. We also had to consider estate planning for my brother’s 18-year-old son.”
How do you feel our financial advice has (hopefully!) helped you?
“I am very happy with the advice we received, the plan, and the implementation of the plan. It’s all gone very smoothly. My brother is receiving income to supplement his disability pension in a tax effective way. He is not restricted to have the best quality of life because of a lack of funds. My brother is still entitled to his disability pension as the advice is all tailored with an understanding of the means tests for Centrelink purposes. The interviews ran on time, were well structured and followed up by written advice.”
How are you feeling about things now?
“Very positive. I don’t have to worry anymore about how to secure my brother’s finances in the best possible way. I can just focus on supporting him in other ways like keeping him healthy and socially engaged.”
Anything else of relevance.
“I would definitely recommend EFS advice. I have complete confidence in the expertise of the company in an area that is complicated and overwhelming.
The grief involved with supporting a loved one who has been rendered disabled is difficult therefore it’s very comforting to know that a service that you have engaged actually operates with the skill and professionalism that one would like to expect.”
Husband suffered stroke
“My husband and I were referred to EFS Advice by our solicitor shortly after my husband received a substantial, multi-million-dollar payout through a total and permanent disability insurance claim. We knew that we needed financial advice, but with so many financial advisers in the market we did not know where to start. We understood that the payout of the TPD claim would be money that my husband would need to live on for the rest of his life but being in his 40s we had no idea how to structure that. On top of everything, we had other investments such an investment property and a share portfolio that we knew were not earning their full potential. Everything felt overwhelming and very stressful. We knew we needed specialist financial advice, but it was difficult to know where to go.
We contacted Andrew Reynolds with EFS Advice. Andrew arranged for a video conference with EFS Advice to obtain information from us regarding our financial situation. The EFS Advice team were patient while my husband and I went through our full financial position and discussed our short term and long-term goals. Over the course of the next few months, the EFS Advice team were always happy to pick up an ad hoc call from us or answer an email as we would discuss our financial position and/or revise our goals. The team would actively listen to us and take into consideration our needs and desires in terms of investment outcomes. We always felt like our ideas and values were listened to.
In addition to the advice sought regarding how to invest the large TPD payout, we wanted to know generally how to set ourselves up so that, upon my retirement, our current quality of life did not diminish. EFS Advice undertook a full review of our income streams, superannuation accounts, personal insurance and income taxes being paid.
When it came time for EFS Advice to provide us with written advice, it was good, quality advice – the advice was proportionate to our stated risk appetite, and it was thoughtfully written in such a way as to make a complex topic understandable. We were provided with a copy early so that we could read it and have questions prepared prior to our meeting with EFS. During our meeting, the EFS team went through the advice page by page. At each page, we paused to allow us to ask any questions and/or to ensure that we had understood the advice. My husband and I felt comfortable with the entire process.
We instructed EFS to implement its advice about a year ago. Having the EFS team manage the investment of my husband’s large TPD claim, as well as provide general financial advice, has meant that we can live without the daily worry of knowing what our retirement will look like. Having a plan that is tailored to us is so important, and EFS Advice has achieved that.”
Gentleman legally blind
“Prior to knowing Andrew and Andy I had spoken to a few financial advisers / planners, but they didn’t leave me with much impression simply because I didn’t think they would add much value.
In 2020 as I was finalising my TPD claim I was very fortunate to be introduced to Andrew and Andy, who changed my view about financial advisers. At that time, I had limited knowledge of how TPD related taxes function in super and pension context. I have a fairly unique income and asset position and in the first conversation (free consultation) with Andrew I knew he and his team would definitely add a lot of value to my situation so I decided to sign the engagement.
We subsequently had several “strategizing” sessions and the advice that Andrew and Andy put together for me at the end was bespoke, creative, succinct, and highly value-added. What I particularly like about the process and the advice is that both Andrew and Andy, who are subject matter experts in their fields, were highly creative along the way, well-responsive to changes and considerate of several moving parts in order to recommend the optimal strategies for their client.
I was 100% agreed with their advice and we have now successfully implemented the strategies set out in the advice. I am very thankful to the team and if I need help again in the future, I will definitely reach out to them and I have no hesitation in recommending the “A’s” team to anyone who needs help in planning their financial strategy especially within the TPD claims / Superannuation / Pension / Investment spheres.”
Single woman living with MS
How did you feel before you sought our advice?
“I had many questions and was not aware of the pros and cons of different strategies to manage TPD payments.”
How do you feel our financial advice has (hopefully!) helped you?
“The advice has been very helpful to manage tax implications. I only wish I had found Andrew at the start of my TPD payments being awarded as I’m sure I would have benefited with options for the earlier TPD payments.”
How are you feeling about things now?
“I feel I’ve been able to follow a tax effective and well considered strategy.”
Anything else of relevance.
“Thanks very much for your assistance”