Financial Planning for Electricians

We’re invested in your long-term success. What we do is personal, and we take it personally.

Your financial decisions connect, so we consider the parts of your financial life that are relevant to the advice you need:

• Property & Investing
• Career & Income
• Tax Strategy
• Insurance & Protecting Your Family
• Super & SMSF
• Wealth & Investments
• Life Events & Changes
• Business & Wealth
• Legacy & Future Wealth
• Retirement Planning

This is how we help you make decisions today with your longer-term goals in view.

Everybody’s situation is different, so we listen first, understand what matters to you and explain your options clearly before we make a recommendation.

No single fund suits every electrician. Your award may list a default fund, and some funds promote themselves to the electrical trade, but whether one suits you depends on its fees, its investment options, the insurance inside it and who pays for that insurance.

Comparing funds on all of those together gives a fairer picture than any one feature, and it’s worth checking what would happen to any default cover before you move.

This is general information that doesn’t take into account your goals, finances or needs, so consider whether it suits you before acting on it. We can compare funds against your own situation and help you work out whether the insurance in each is the best suited cover for your situation.

It depends on your fund. Some funds give members in the electrical industry default income protection, and its terms can depend on staying with the fund, working in the industry or having contributions paid. Changing fund or moving onto an ABN can change that cover or end it, depending on the fund’s terms.

Your annual statement or online account shows what you hold.

We can check your cover before you make the move, and look at cover outside super if it would suit you.

Your accountant and financial adviser bring different expertise to the same decisions. Your accountant can advise on tax reporting, structures and consequences; we help you plan how cashflow, debt, super, investments and protection work towards your goals. We can coordinate before important decisions.

What an accountant does

• Prepares and lodges tax returns, BAS and financial statements
• Advises on tax structures such as companies, trusts and partnerships
• Manages bookkeeping, payroll and ATO compliance
• Provides tax advice on the consequences of a transaction

What a financial adviser does

• Sets a long term strategy across retirement, investing and cash flow
• Builds wealth from early in a working life, starting with cash flow, a first home and super
• Recommends specific super funds, investments and personal insurance
• Operates under an Australian Financial Services Licence, which is required to give personal advice on financial products
• Handles retirement planning, Centrelink and aged care strategy, and estate planning considerations

Professional roles and authorisations matter. We provide financial advice within our authorisations and work with your accountant for specialist tax advice and lodgements.

Where they work together

• Tax position. Your accountant confirms your marginal rate, deductions and carried forward losses, which shapes decisions on super contributions, investment structures and the timing of asset sales.
• Business and entity structures. Your accountant advises on the structure itself and your financial adviser works within it for investments, insurance and succession planning.
• Cash flow. Your accountant’s figures can help us understand what’s available for debt repayment, protection and longer-term goals.
• Before key decisions. We can coordinate with your accountant on contributions, asset sales and other material choices in time to consider relevant tax consequences.

It can. When you apply, an insurer asks about your occupation and the duties you perform, and work on live equipment, on roofs or at heights may be part of that assessment. Answering each question accurately matters, since the answers you give can affect how a later claim is assessed.

Each insurer decides how it treats your duties, which can affect the premium, the terms offered or any exclusions.

We can help you describe your work clearly and compare suitable options, and the insurer makes the final decision on any application.

It depends on the policy. Each income protection policy has its own definition of the income it insures, and whether regular allowances or overtime are included varies between policies and insurers.

For an electrician paid an hourly rate plus industry, licence and travel allowances, that definition can make a real difference to the monthly benefit. Your payslips and tax returns show the full picture of what you earn.

We can compare how suitable policies treat your pay, aiming for cover that reflects the income you earn, allowances included where the policy allows, and the insurer confirms the terms at application.

Your fund’s online account is a quick way to see the cover you hold and to change it yourself, and it’s useful to know your way around it. Advice adds a view of the whole plan: whether a change suits the way electrical work is assessed, what happens to the cover if you change employer or move onto an ABN, and whether holding some cover outside super could suit you.

We can go through those questions with you first, and any new or increased cover is still subject to the insurer’s assessment.

Start with the dates that are already set. The small-scale renewable energy scheme, which supports many home solar and battery installs, is legislated to end in 2030, and from 1 May 2026 the support for batteries steps down every six months.

Those dates don’t predict how much work there will be, but they give you something firm to plan with. A buffer built in busier periods, a clear view of your fixed costs and cover that suits your work can all give you room to decide.

We can build a plan with you around those dates, and review it as the rules change.

Yes, whatever stage of the trade you’re at.

There’s no cost for the initial conversation. Any advice after that is a paid service, with its scope and fee agreed with you in writing first.

It helps to bring a recent payslip showing your allowances, your super fund’s latest statement and details of any cover you hold. Tell us where you are with your licence and your work, and what you’d like the next few years to look like.