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Financial Planning Pyramid as part of the Wealth Control system

Many years ago as a young CPA (Certified Practising Accountant) I used to help people meet their tax obligations and minimize their tax, but I felt that there was more I could do. I studied and became a CFP (Certified Financial Planner) to help people create wealth and plan for their future. I created the Financial Planning Pyramid (Wealth Control) to make it easy for people understand the concepts I had been teaching for the last 30 years.

The foundation of the pyramid is critical to the stability of the whole structure. Roy Disney (brother of Walt Disney) was the financial genius that helped make the magic of Walt Disney come alive. He said, "When your values are clear to you, making decisions becomes easier." At Black & Krantz we pride ourselves in making decisions simple by clarifying your Values and assisting you in staying true to your principles.

Wealth Protection is the next layer of the pyramid, looking after the things we already have and Wealth Management concentrates on effectively & efficiently managing what we have been able to accumulate.

Wealth Creation is the layer that gets the most attention in the media because there are endless investments available. It is perceived to be fun and everyone wants to know the "secret" to wealth creation.  Sometimes the obsession with wealth creation comes at a great cost of ignoring other critical layers necessary for Wealth Control.

To explain this concept we can use the famous Maslow's Hierarchy of Needs, which states that human beings have five basic needs, and until the first level has been satisfied you cannot move to the second level, and until the second level is satisfied you can't move to the third and so on.

The need for safety and shelter are secondary and first require the need for oxygen, food, & water to be fulfilled. So it is with the Wealth Control - Financial Planning Pyramid. Trying to build a solid foundation for wealth creation firstly requires clarification of the person's or couple's values followed by putting into place wealth protection strategies to underpin the wealth management strategies that follow.

All levels are required to be dealt with in order to form a structure capable of withstanding the financial challenges that may come your way.

By building upon each layer you will have the highest probability of achieving your goals for the reasons that are important to you. Now all that is left is to distribute your wealth to your loved ones in a tax effective & fair manner – Wealth Succession.

Andrew Krantz   FCIS (F)CPA (FPS) CFP CTA
SMSF Specialist Advisor

Black & Krantz

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*Black and Krantz is an Authorised Representative of Count Financial Ltd ABN 19 001 974 625 AFSL No. 227232 which is 85% owned by CountPlus Limited ABN 111 26 990 832 (CountPlus) of Level 8, 1 Chifley Square, Sydney NSW 2000. and 15% owned by Count Member Firm Pty Ltd ACN 633 983 490 of Level 8, 1 Chifley Square, Sydney NSW 2000. CountPlus is listed on the Australian Stock Exchange. Count Member Firm Pty Ltd is owned by Count Member Firm DT Pty Ltd ACN 633 956 073 which holds the assets under a discretionary trust for certain beneficiaries including potentially some corporate authorised representatives of Count Financial Ltd. The information on this web page is not advice and is intended to provide general information only. It does not take into account your individual needs, objectives or personal circumstances.

General advice warning: The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.

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Why Wealth Control is for you?

Each level of the pyramid is built on the foundations of the previous level. By working with you through the Wealth Control Pyramid we will help you make smart choices about your money to achieve your goals for the reasons that are important to you.

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