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Dirk and Virginia Flanders’ relationship with Ulton spans decades. Though until recently, the Moranbah locals primarily sought our expertise to assist them with their tax returns each year.
Of course, in any decades-long relationship, other touch points and ad hoc work cropped up organically.
In 2012, the Flanders’ accountant, Peter Bunch, introduced them to the wealth team after Dirk mentioned he was starting to think about retirement.
Wealth Manager Jes Wilkinson, recalls that initial discussion clearly.
“At that time, Dirk was approaching 55 and wanted to have more of a conversation about what retirement looked like,” she said.
“Back then, our wealth management service offering was a bit different to what it is now — it was a lot more task- and transaction-based,” said Jes.
After the initial work in 2012, the wealth team worked with the Flanders once more some years later. That was until November 2023, when the Flanders entered into an ongoing service arrangement with Ulton Wealth.
“Dirk got in touch with me late last year after noticing a decline in one of his super funds that Ulton didn’t manage,” said Jes.
“He wanted to talk to me about why that may have happened, and we naturally just got talking about what’s been going on in Dirk’s life in recent years,” she said.
Dirk told Jes that he’d retired a few years prior, and he and Virginia no longer had a regular income stream.
“Just from that conversation, I identified a whole lot of areas that would benefit from sound, ongoing advice,” said Jes.
“Looking back, there were a lot of missed opportunities that we could have captured had we been working together consistently over the years,” she said
“And that’s the real benefit of ongoing arrangements. If there are any changes in the Flanders’ lives or shifts in external factors, we can adjust and amend our advice,” said Jes.
“It avoids the risk of clients trying to follow advice that, while it was relevant at the time, is not as appropriate one year down the track,” she added.
While the Flanders’ situation reinforces the game-changing impact of ongoing arrangements, their story is certainly not over.
In fact, the wealth team is dedicated to making sure the chapters to come are the best yet.
From the moment the Flanders expressed their enthusiasm for ongoing wealth guidance, the team hit the ground running.
At the time of writing, Jes and the team were in the thick of the implementation phase, which included but wasn’t limited to, strategic work around the Flanders’ super accounts; starting a pension to ensure regular income flow; and making some key decisions around property ownership, informed by long-term financial projections developed by Jes and the team.
“From now on, we’ll conduct quarterly reviews and meet with Dirk and Virginia for annual meetings. During the implementation phase, we’ll also have their Client Services Officer, Angela, who will be touching base with them weekly to make sure that every part of the implementation is happening on time,” said Jes.
“The savings we’ve been able to achieve for them already… It makes a significant impact in their lives,” she said.
Reflecting on the positive outcomes she’s already seen ripple through Dirk and Virginia’s lives, Jes said: “This case shows the uniqueness of wealth management — while our primary focus is on catering to business owners, professionals, and affluent farmers as our ideal clients, we can also form partnerships with high net worth individuals and retirees.’
There is no better advertisement campaign that is low cost and also successful at the same time.
