TAKING A HOLISTIC APPROACH TO FINANCIAL MANAGEMENT: THE IMPORTANCE OF COMBINING ACCOUNTANCY AND FINANCIAL PLANNING

Are you tired of feeling like you’re never quite sure what to do with your hard-earned money? Do you feel like you could be doing more to plan for your financial future, but you just don’t know where to start?  We understand that managing your finances can be a daunting task. That’s why we’re pleased to introduce you to our neighbour, Verus Wealth financial planners.

We packed our boxes together to move from Reform Street to our current Bell Street office in 2006, and since then our businesses have grown side-by-side with a number of our clients already benefitting from our shared values and commitment to providing professional advice when money matters.

How does accountancy and financial planning add up?

Accountancy is primarily concerned with recording, classifying and analysing financial transactions to help individuals and businesses manage their finances and meet their tax obligations. Financial planning, on the other hand, involves the creation of a comprehensive plan to manage a person’s wealth and achieve their financial goals, often including investment planning, retirement planning, and risk management.

While accountancy and financial planning are distinct disciplines, they are complementary in helping people to manage their money holistically. Our holistic approach recognises that financial planning goes beyond simple bookkeeping and tax compliance, but also includes creating a long-term strategy that takes into account factors such as retirement planning, investment management, and estate planning. By working together, accountants and financial planners can help clients make informed decisions unique to their circumstances and long-term goals.

How do you do that for clients?

By getting to know you we can understand your needs and your desires.

At MMG it’s our MMG 123 approach ensures that you get the support that is right for you.

For Verus, this involves their ‘Lifetime Cashflow Modelling approach as

Paul Lothian, managing partner at Verus Wealth explains: “This financial planning technique forecasts a person’s or entities income, expenses, assets, and liabilities over their lifetime. It involves using complex calculations and assumptions to project their financial situation, considering various factors such as inflation, investment returns, and tax rates.

“This modelling helps individuals or entities make informed decisions about their current and future financial goals, and it provides insights into how to manage their finances to achieve those goals. It’s a great way to get a big-picture view of your financial situation and make informed decisions about your money.”

Like MMG, Verus is an independent firm and is not tied to any specific financial products or services. This means you can trust their recommendations to be unbiased and in your best interest. Working with Verus Wealth is also convenient and hassle-free. They’ll work with you on your schedule, whether that means meeting in person, over the phone, or via video chat… and because they share our Bell Street office you can pop past and see the MMG team too!

We believe that a holistic approach to financial management is essential. Our neighbours at Verus Wealth can offer you a comprehensive suite of financial services that complement our own.

We’re confident that together, we can help you achieve your financial goals.