Chaos to clarity: a route-map to peace of mind

Widow has the professional wealth advisers she needs to help guide her through the next chapter

By

Paul Ashworth, Managing Partner
Anne-Marie Tassoni, Partner
Tristan Bowman, Manager


Posted 17 May 19

Journey Mapping one’s wealth aspirations is a very personal undertaking. It’s a mixture of insights and experience combined with depth of knowledge. Where planned navigation over time means everything. Whether it be for family or business, we help our clients identify, understand, prioritise and formulate sound strategies for the challenges ahead.

Phillip’s Wealth Journey

Phillip, a Managing Director of an ASX100 company, and his wife Suze commenced their journey with Cameron Harrison Partners Paul Ashworth and John Clark in 2001. Phillip had been a client of a large global investment bank, which also advised the ASX-listed company he led. They were frustrated by uncoordinated guidance and the myopic stewardship of their wealth. Their accountant and tax advisers had counselled them into a number of tax deferral schemes, and the advice they were receiving was disjointed and often conflicting.

Phillip recognised these were poor financial foundations to build the very comfortable retirement they wanted. A business operator himself, he understood the value of integrated, long-term strategic planning and expert advice.

“Phillip had known John and Paul for some time before engaging them. He was running a very large public company and dealing with a myriad of personal wealth issues that had accumulated at the same time. He realised we needed a trusted strategic team and a plan. As advisers to families and private business owners, John and Paul were the obvious ‘port of call’. Some 19 years down the track, my children and I are the beneficiaries of Phillip’s engagement of Paul and John. Today my Cameron Harrison team has evolved to the next generation of partners, with Paul still overseeing.” – Suze

Working through our Wealth Journey Mapping process, Phillip and Suze were able to establish a strategic approach which provided security and lifelong continuity through each age and stage of their life. It was an integrated wealth agenda that brought them peace of mind, focusing not only on tax effectiveness, but also asset protection, estate planning and sound economic management.

Over time, Phillip’s health necessitated developing a strategy and structure to support his wife and family. Working collaboratively alongside Phillip and Suze, we helped them identify what was truly important to them – for each other, their children and grandchildren. They wished to financially support their children in a way that would allow their kids to gradually take responsibility for their investments, protecting the legacy for their grandchildren. Our Estate Planning Framework and integrated approach to economic strategy, tax and asset protection gave Phillip and Suze the peace of mind that their family’s financial future was secure.

In his final years, it became more important to Phillip that Suze – a relatively inexperienced financial manager – had the professional support she needed to help guide her through the next chapter. It was equally important to us that we developed a relationship with Suze built on trust, so that when the time came, she would have the space to come to terms with her loss without any financial anxiety. On Phillip’s passing, Cameron Harrison was there to support Suze in carrying out Phillip’s wishes and implementing the agreed-upon estate plan developed years earlier.

The interplay of generations is complex. We understand that managing family dynamics takes a unique combination of empathy and experience. With the opportunity to engage the family early on, it has been a natural progression for us to continue as trusted advisers to not only Suze, but also her adult children, as we help them navigate their own wealth journeys, guiding them in their own business and personal endeavours.

Over 19 years so far, we have guided Phillip, Suze, and now their children, through the many facets of their individual wealth journeys with our bespoke, integrated approach.

Going from chaos to clarity is a long and winding road. Through valleys and mountains, family needs and life events, we help our clients navigate the ups and downs of life’s challenges without financial worry.

Peace of Mind Journey

Diagram showing Peace of Mind Journey

Wealth strategy is not a simple one-size-fits-all. Cameron Harrison unreservedly are about devising route-maps. Obsessed with detail, we create individual plans for you. We invite all of our clients to work with us in our integrated Journey Mapping process.

For more information on our approach to Journey Mapping or any other inquiries, please contact us on +613 9655 5000.