Finance Company in Australia

TRUE FINANCIAL

True Financial provides financial planning in Brisbane and the Gold Coast, to clients that want a professional fee based approach. We cover all your financial planning needs, from budgeting, cash flow management, superannuation, insurance, investments, retirement and estate planning. For clients that run their own businesses we find their personal and business goals intertwine and affect each other. Therefore to ensure success we provide advice on business planning and business cash-flow management.

Fee for Service Financial Planning

True Financial is a fee for service financial planning firm. This gives our clients transparency and reliability in the quality of advice we provide.As a fee for service financial planning firm we don’t receive commissions on investment advice; we charge you based on the complexity of the advice and your ongoing needs, not on how much money you invest. True Financial is not owned by any financial product providers so we can provides clients with tailored reliable financial planning advice where their needs are our first priority.

Fee for Service Financial Planner

True Financial is committed to providing high quality financial planning advice through the high standard of experience and education that we have for our staff. Minimum standards for the financial planning industry only require a Diploma of Financial Services. Our financial planner John Duncan has a Bachelor of Business (majoring in Accounting, and Banking and Finance) from QUT as well as the Diploma of Financial Planning. John is a Certified Financial Planner the highest desigination a member of the Financial Planning Association can receive.  Only through higher education and experience can clients truly get the quality financial planning advice that they deserve.

At True Financial the benefits of financial planning are not just financial. Other benefits such as peace of mind, freedom to pursue your dreams, security for your family are all just part of the package.

Australian Market

With a relatively high-growth and low-inflation economy supported by robust political and economic institutions, and an internationally competitive business sector, Australia now ranks as the 12th largest economy in the world (measured by GDP), and the 4th largest in the Asia Pacific region.

This firm international standing is reflected in the fact that Australia’s three largest trading partners – China, Japan and the United States - are also the three largest economies in the world; and its two largest investment partners - the US and UK – are home to the world’s largest capital markets.

Such solid trade and investment relations have helped see real economic growth average 3.0% per annum over the past decade, positioning Australia as one of the stronger performers among developed countries during the period.

Australia’s steady economic growth has also been aided by a resources boom that has seen its economy emerge as one of the largest global suppliers of raw materials (coal, iron ore, etc). This fertile resources sector makes up around 9.6% of Australia’s total economy, with the remainder being comprised of financial services (11.0%), manufacturing (9.1%) and construction (7.7%).

This distribution broadly mirrors that of the Australian equity market, with the largest sectors being financial services (32%) and resources (31%).

Australia is also home to a well-developed, innovative and highly-regarded financial services industry and capital market, including:

• Financial development - Australia was ranked 5th out of 57 of the world's leading financial systems and capital markets by the World Economic Forum;
• Equity market - the 8th largest in the world (based on free-float market capitalisation) and the 2nd largest in Asia-Pacific, with A$1.2 trillion market capitalisation and average daily secondary trading of over A$5 billion a day;
• Bond market - 3rd largest debt market in the Asia Pacific;
• Derivatives market - largest fixed income derivatives in the Asia-Pacific region;
• Foreign exchange market - the Australian foreign exchange market is the 7th largest in the world in terms of global turnover, while the Australian dollar is the 5th most traded currency and the AUD/USD the 4th most traded currency pair;
• Funds management - Due in large part to its compulsory superannuation system, Australia boasts the largest pool of funds under management in the Asia-Pacific region, and the 3rd largest in the world.

Spurred by its healthy political and economic position, Australia has become an attractive investment destination for global investors as well as home to many major multinational financial services providers. With a diverse investor group comprised of 40% foreign investors, 40% domestic institutional investors and 20% retail investors, the Australian equity market is well placed in the global economy.

Australian Economic System

Free market is the main characteristics of Australian economic system. The growth of the economy of Australia is phenomenal and this country is among the first five developed countries of the world. 

The four main components of the Australian economic system are: 

• trade
• manufacturing
• services
• finance

In the beginning of the 21st century the Australian government had taken a pledge to further reform its economy. The standard of living of Australia has risen significantly in the last fifteen years and it is just below United States now. 

Industrialization, private enterprises, large scale productions, high technology and natural resources are Australian economic system. Small businesses also play an important role in the economy of this country. The unemployment rate in this country speaks for its developing economy as 11% unemployment rate in 1992 has come down to just 5%. 

The growth of the Australian economy began in the middle of the 19th century with woolen industry and the gold rush. The gold rush was also responsible for the population growth of the country which was very much needed by Australia at that point of time. The second phase of economic boom began during the Second World War and it continued till 1970.

The fundamentals of the Australian economy were further changed at the beginning of the new millennium. A new improved tax system was started which was favourable both for the individual and the businesses. The government is also striving towards building a more adaptable labour market and augmenting the living standards. Some major business sectors are also partially privatized. In the first decade of the new millennium it is expected that the growth would be around 3.5%. One of the most significant achievements is that in 2000 the labour productivity growth has even moved past United States. 

The integral part of the economic system of Australia is the Australian Securities Exchange or ASX. The name of Australian Stock exchange was changed to Australian Securities Exchange only in December 2006. This stock market trades from 10 in the morning to 4 in the afternoon. 

Taxation in Australia can be divided mainly in to two parts:

• federal taxation
• state taxation 

The taxes are not uniform all through out the country. The most important of all the taxes are income tax and business tax. Apart from these two taxes there are taxes like Goods and Services tax, Social Security Levy, Municipal tax, excise duties and Capital Gains tax. The main reason behind the phenomenal growth of the Australian economy is its stable government, healthy politics and huge natural resource. The knowledge based industries has evolved as another factor which has contributed to the exceptional growth of this country currently. At least twenty five thousand Information Communication and Technology companies are present in Australia currently. 

International trade both export and import has contributed greatly to the development of the economy.

Doing Business in Australia: Need to Know

Most businesses in Australia expect conservative attire. 

In Melbourne or Sydney, conservative, dark colored suits and dresses are expected. In Brisbane and other tropical areas, a shirt and tie with slacks may be formal enough. During the initial introduction, you may give business cards if you have them, though don’™t feel offended if they do not have one to give in return.

As with information, negotiations should be brief and concise.

Australians do not expect to bargain and negotiations are minimal, so the original proposal should leave little room for negotiation.Final decisions are concentrated with the top levels of the company, though consultation with subordinates is vital. However, this may prolong the decision making process.

Australians use of colorful language may be surprising in a formal meeting.

There is a tendency to use humor colorful language in a business meeting.Australians are direct and if they do not like something that you say, they will let you know without hesitation.Australians are not big on small talk and prefer to get right down to business; always be concise.

Australians take business seriously, even if it seems relaxed.

Punctuality is critical in making a memorable impression. Australians do not need to have long standing personal relationships with people in order to do business, and value individual privacy. They are very matter-of-fact in their communication and business dealings.Maintaining good eye contact is extremely important.

Australian culture is modest and authentic.

Australians frown upon the discussion of personal, academic, or professional achievements and doing so can create distrust. You must always remember to be personable and mindful that all involved are equals.Shaking hands upon meeting and upon leaving is standard. Stick to the facts and figures, and avoid a lot of emotional influence techniques, emotions and feelings are not important in Australian business etiquette.