Managing your finances after an injury - Clients
If you or someone you are responsible for suffers a personal injury, having the right support can be a great relief when it comes to planning for your future and managing your finances for the long term.
That's why it's important to have a good team behind you, including the right financial adviser. This is where we can help.
For many years AMP Advice has assisted people who have suffered serious injury. We get to know your unique situation so we can build a long-term relationship to help with financial security.
Our team of personal injury experts includes financial advisers and lawyers who can help you finalise your financial management option, make the most of your compensation payment and achieve the right results for you. Your financial adviser can help you stay on track with your finances to meet your ongoing needs.
Choosing a financial manager
If your injury prevents you from managing your finances by yourself, or you have a family member who has been injured, you can appoint a financial manager (separate to your financial adviser) who’ll be responsible for the day-to-day management of your affairs. The financial manager appointed is either the state public trustee or a private manager, for example a family member or a trustee company.
Working together with your lawyer, we can help you understand your options and the process to appoint a financial manager, so you’re ready to take that step once your claim has settled.
How we work with your financial manager
Once a financial manager is appointed, we can provide financial advice and develop a tailored plan to help you meet your long-term goals and needs and arrange for your compensation payment to be invested. At every stage we work closely with you and your financial manager.
How we work with you
It's important to understand your financial options, how to manage your payment to suit your needs and be prepared for the future.
Our team of personal injury specialists includes financial advisers, lawyers and administrators.
Here’s how we can help:
- Work with your lawyer as your case approaches settlement – we can prepare funds management reports to support your claim for costs, as well as certain court documents for your application to appoint a financial manager.
- Develop a personalised financial plan that aims to make the most of your compensation payment in accordance with your needs.
- Assess the impact your payment may have on any government entitlements and advise on strategies to help protect or maximise them, plus those of your partner or carer.
- Provide ongoing advice – if the financial manager engages us, or you choose our ongoing service, we will review your financial plan. We can manage the impact of any changes in your personal circumstances, legislation and the economy, to help keep your finances on track.
- Access the support and care you need – we can help identify and engage carers and treatment providers. We can also advise you on the purchase of a home, vehicle and equipment.
We take the time to listen to your concerns and understand what’s really important to you. You'll have your own personal financial adviser who will consult with you throughout the advice process and build a trusted relationship with you over the long term.
Supporting you and your clients after an injury - Lawyers
We have a team of personal injury specialists, including lawyers and accredited financial advisers, who can support you and your clients during the legal process, help make the most of the compensation payment and provide ongoing financial advice and management.
How we help your clients
We have experience working with personal injury clients and their families, helping them understand their options, invest their compensation payment, and manage their finances for the long term.
- Meet your clients at their home or via video call to discuss their funds management options.
- Help them get a clear picture of their finances and goals.
- Work out their upfront and ongoing expenses.
- Develop a financial plan to meet their immediate and long-term needs.
- Help optimise their tax position.
- Help maximise any government entitlements.
- Refer them to a network of trusted care and treatment providers.
- Help secure significant fee rebates.
- Provide ongoing management of their investment strategies.
- Guide and help them to meet reporting requirements to the relevant government bodies or tribunals.
How we work with your clients
We understand that every client relationship is built on trust and each client has different needs and goals. We take the time to get to know them and their family, listen to their concerns, explore their options, and understand their situation so we can give them the right advice.
With our legal expertise and financial accreditations, we work closely with you to help you look after the best interests of your clients.
How we help you
Our team is led by experienced personal injury lawyers who are your first point of contact. The team has a deep understanding of the legal process, trustee requirements and needs of your clients. Our lawyers are supported by accredited personal injury specialist advisers nationally.
- Prepare a funds management report to support your claim for the costs of funds management.
- Provide a tailored fee quote to help your clients when choosing a trustee or financial manager.
- Prepare court documents for your client’s application to appoint a trustee or financial manager.
- Provide strategic financial advice that meets legal and trustee requirements.
- Knowing your clients will receive tailored and strategic advice to help make their payment last, means you can focus on getting the best outcome for your client.
Our personal injury service gives you access to a specialist team who work with clients, lawyers and financial managers to make the most of your client’s compensation and ensure their finances are managed for the long term.
We have a national team of accredited personal injury specialist advisers who work closely with our lawyers to support our clients.
Our first meeting is complimentary and obligation free and we can come to you. We discuss your situation, potential options and how we may be able to help.
We look forward to helping you make life decisions today that give you confidence that you’re prepared for tomorrow.
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