History
In 2004, not knowing how to deal with a redundancy payment or the tax issues it may throw up, Melbourne-based IT contractor Rick Morgan and wife Vikki approached Nick Shugg looking for guidance. Feeling somewhat alienated from their existing adviser, who struggled to communicate effectively, the Morgans were referred to Shugg as someone who could provide them with a better fix on their financial wellbeing.
Strategy
In addition to some immediate tax and cash-flow management guidance -necessary to tide them over until Rick found alternative permanent employment – the Morgans were looking for holistic advice beyond the limits of the technical recommendations their former adviser was willing to offer. They wanted to deal with an adviser with the patience needed to present different investment options. Based on numerous “what-if” scenarios, they planned to develop a road map that would balance future wealth creation with everyday family needs.
