At Aeran, we specialise in helping families, guardians, lawyers and other professionals navigate complex financial matters involving people who may not have the capacity to manage their own financial affairs.

Recently, Aeran’s Simon McKeough supported a mother who wanted to help her daughter take an important step towards greater independence.

The mother had been appointed by the NSW Civil and Administrative Tribunal to make financial decisions on behalf of her daughter, subject to the supervision of the NSW Trustee and Guardian. She was a careful, capable and responsible decision-maker, but she needed specialist financial advice and documentation to support a proposed home purchase.

Her challenge was finding someone with the experience and willingness to assist with this type of matter. She was eventually referred to Aeran.

Simon worked with her to prepare a Statement of Advice to accompany a Change of Estate application to the NSW Trustee and Guardian. The advice helped demonstrate that the proposed purchase was appropriate, financially sound and in her daughter’s best interests.

The application was approved, the home was purchased, and our client’s daughter is now beginning the next chapter of her journey towards independent living.

Specialist advice for complex circumstances

Situations involving the NSW Trustee and Guardian, NCAT appointments, financial management arrangements and protective systems can be complex. They often require more than general financial advice — they require an understanding of the legal and regulatory environment, the responsibilities of decision-makers, and the importance of acting in the best interests of the person being supported.

At Aeran, we work with:

• families seeking support for a loved one;

• financial managers and substitute decision-makers;

• lawyers assisting clients with protective arrangements;

• professionals who need specialist financial advice for complex applications and decisions.

Every situation is different, but our role remains consistent: to provide clear, trusted advice that helps people make informed decisions and achieve better outcomes.

If you are supporting someone through a financial management or protective arrangement and need specialist advice, Aeran welcomes the opportunity to assist.

We are proud to share an important milestone in the growth of our team — Simon McKeough has completed his Professional Year and is now registered as a Financial Adviser on the Financial Adviser Register.

While 1 July 2026 marks the beginning of Simon’s journey as a fully qualified adviser, it is not the beginning of his experience in financial services.

Before joining Aeran, Simon built a strong foundation working in the trustee company sector, developing valuable insight into the importance of helping people manage their financial affairs with care and confidence.

Simon has been part of the Aeran team for the past three years, working closely with our advisers, referral partners and clients while completing his Graduate Diploma of Financial Planning and Professional Year.

During that time, he has demonstrated the professionalism, dedication and genuine desire to help others that we value highly at Aeran.

We are incredibly proud to welcome Simon as an Aeran Adviser and look forward to the positive impact he will continue to make in helping our clients achieve their financial goals.

Congratulations, Simon, on this well-deserved achievement.

Journalist Christopher Knaus was interested in why, how and when the NDIA calculate a Compensation Reduction Amount (CRA).

The NDIS rules prescribe the relevant timing and methodology, but lawyers and participants alike are frustrated that the bottom line is not predictable pre-settlement.

The application of the rules in certain contexts, when compensation is already heavily reduced and compromised, seems particularly unfair.

The rules should be adjusted to improve fairness and encourage, rather than discourage, people from making compensation claims.

The seminar focused on the NSW Protective system, particularly as it pertains to personal injury clients who lack the capacity to manage their own settlement funds.

It’s a system within which Joe and Jane have operated for some decades in their financial advisory roles.

Hearing directly from the NSW Supreme Court Protective judge and senior managers from the NSW Trustee & Guardian provided clarity on their current perspectives, procedural preferences, and guiding philosophies.

This knowledge equips lawyers, managers, and financial advisers to better navigate the system, ultimately benefiting injured plaintiffs and their supporters.

Thank you to everyone involved for making this seminar so practical and helpful.

Lawyers know the law, but most are not great at back-of-the-envelope estimates of future financials - especially those made in the final stressful stages of settlement negotiations.

Yet the decisions being made can have life-long implications for clients.

At short notice, and in the context of uncertainty, Aeran can (and frequently does) prepare financial planning calculations and projections across a range of scenarios.

Help is at hand in the lead up to the big day!

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]]>Financial projections pre-settlementJane CampbellSat, 21 Mar 2026 04:35:33 +0000https://aeran.com/aeran-blog/2026/3/21/the-rules-and-tools-that-advisers-use-to-help-plaintiffs-post-settlement557a0974e4b0cc5bdc657766:557f9227e4b03123db2e3a14:69be1ce979ce092226a0b1c7On 19 March 2026, Aeran’s Jane Campbell presented at a personal injury legal conference in Melbourne.

Jane shared a brief history of financial advice in Australia to give context to where we are today — why advice is a process that takes time, skill and experience, and why quality independent advice is worth the cost.

Jane highlighted the relevant rules and tools, and their practical application through case studies, making clear the meaningful difference that advice can make to long-term outcomes for plaintiffs.

Understanding the legal challenges faced by our clients and their lawyers in their journey towards settlement gives us a great appreciation of our role in the broader context.

It makes us better placed to use our specialist financial expertise helping when clients move forward with confidence.

#personalinjury #financial advice #lawyersalliance

It was a great opportunity to ensure that we are up to date with all aspects of our work, including relevant legislative and regulatory changes.

One of the most interesting and relevant sessions was a behavioural expert who explored the ethical and professional risks and challenges in providing financial advice to people who are stressed as a result of a life changing event such as death, disability or injury.

He covered issues such as the reduced window of tolerance, the strong present-focus, loss aversion and inattention to consequences. He included helpful guidance on what to do and what not to do in this context.

He ended by emphasising the incredible value of the long-term relationship with a trusted financial adviser, perhaps similar to that of a doctor, in helping people navigate through the journey of life.

#Personal injury compensation, #Financial advice, #FAAA

The vulnerability of our clients means extra attention is needed to ensure a shared level of understanding about abuse and its impacts, which extend far beyond the receipt of any settlement funds.

The training provided by Sexual Assault Services Victoria was outstanding.

Thanks for Slater & Gordon Lawyers for hosting the day, and for the participation of the other law firms who specialise in this type of work.

Thanks too to the Financial Advice Association of Australia for supporting this initiative.

Enhanced collaboration between the professions can only help to improve client experiences.

 This month the Financial Advice Association Australia (FAAA) and the top accounting bodies have published welcome guidance on the tax deductibility of ongoing financial advice fees, including those relating to analyzing the tax implications of different structures and investments.

 Personal injury lawyers can help their clients enormously by letting them know that financial advice can very often reduce tax to nil, and to the extent that tax is payable ongoing financial advice fees can be tax deductible. 

Aeran provides specialist personal injury compensation financial advice.

The NSW Trustee kindly hosted this free event on Tuesday 8 April 2025 in Sydney, enabling lawyers to hear first hand from the two Supreme Court judges who are now devoted to all NSW settlement approvals for plaintiffs who lack capacity.

The judges were followed by NSW Trustee lawyers who explained the differences between trust and financial management orders, and provided sample wordings to help ensure clarity and consistency.

Jane explained the importance of personal injury lawyers considering all the relevant issues and options prior to settlement, to ensure the best eventual outcome for individual plaintiffs in all their different circumstances.

Thanks to the NSW Trustee and the NSW Committee of the Australian Lawyers Alliance.

This free event will be held in person on Tuesday 8 April 2025 at 19 O’Connell St Sydney CBD or join us online. Register by 7 April by creating a free account on the Australian Lawyers website here.

It will be a fantastic opportunity for lawyers to hear from judges and the NSW Trustee about what needs to be considered when finalising claims involving persons without capacity.

From the technical to the practical, understand what's needed for the settlement approval, the different types of appointments, and what they'll mean for your clients thereafter.

A lovely card just received from J, a client of Aeran’s David Robertson

The session will focus on Ethics and Professionalism, highlighting the crucial role advisers can and do play in driving positive change for all.

This was in line with a regime which provides that the UK discount needs to be reviewed every five years in line with a careful and detailed process involving weighing up the facts and figures and considering the risks and consequences of over and under compensation.

Meanwhile, here in Australia there has been no such government consideration (or care) for 40 years. Forty years!

In 1984 the government in NSW legislated to increase the discount rate applicable to motor vehicle compensation to 5%.

This had the impact of immediately reducing compensation for thousands of injured people, with the worst consequences to be faced by the most seriously injured.

At that time in the early 1980s inflation had reached 11-13% and interest rates 17%.

On 10 May 1984 the relevant Minister stated that provision had been made in the legislation to amend the rate by regulation “In this way the government will be able to ensure that the discount rate maintains a direct relevance with the circumstances of the day”.

This unfair and unreasonably high rate was rapidly adopted in most jurisdictions and for most types of accident compensation around the country and has never been thoroughly reviewed, nor its damaging consequences examined since.

Credit to the Australian Lawyers Alliance whose members have continuously sought to raise this issue with state and territory governments as they have come and gone over the last 40 years.

The injustice remains and is stark, especially when we see first-hand the predicament of Australians injured at home compared with those similarly injured when in the UK.

See: Personal Injury Discount Rate - England and Wales - GOV.UK

See: My 2023 article Ending the discount rate disgrace

Unfortunately, the focus seems to be on making advice cheaper by lowering the standards of those providing advice[2]. Is that really the best way to go?

The cost of legal advice would also go down if the government decided to lower the standards of those providing it - perhaps by doing away with the need for law degrees?

Similarly accounting, dental, electrical and all manner of other professional services would be cheaper if delivered by those with fewer qualifications.

Do people want cheap or free advice, or do they want good quality advice? In my experience, people want advice that they can trust.

In an excellent recent article in Professional Planner magazine, author Robert MC Brown has pointed out that achieving client trust through marketing is one thing, but ensuring trustworthiness is another.[3]

He noted the very positive news, announced in October of 2024 by Financial Advice Association of Australia, that according to the latest Value of Advice Index[4], nine out of ten advised clients believe the benefits of financial advice outweigh the costs.[5]

This good news and accords with my experience. But how well-placed is the average client to make that assessment? How do they know if they are receiving quality advice?

It comes down to the ethics of the person providing the advice.

Financial advisers are subject to the mandatory professional ethical standards set out in the Code of Ethics developed by the Financial Adviser Standards and Ethics Authority. The standards are enforceable under the Corporations Act 2001 (Cth)[6].

These ethical standards, including the imperative to avoid conflicts of interest, not just disclose or manage them are vitally important, indeed essential.

They are the key to ensuring the future of a thriving, growing advice profession, serving more and more Australians in the public interest.

Increasing the quantity of advice accessed Australia-wide is best achieved by ensuring its quality.

[1] https://www.ifa.com.au/news/35044-jones-guarantees-broad-support-for-dbfo-amid-reports-of-industry-fractures

[2] Government unveils comprehensive financial advice reform package | Treasury Ministers

[3] https://www.professionalplanner.com.au/2024/11/dbfo-is-well-intentioned-but-misses-the-point

[4] Amid affordability row, clients say advice worth the cost - Professional Planner

[5] Value of Advice Index shows improvement for advised Australians - Financial Advice Association Australia

[6] CORPORATIONS ACT 2001 - SECT 921E Code of Ethics

The register gives consumers a quick and easy way to check that a person is currently authorised to provide financial advice.

Why does this matter? And what does it take to be a financial adviser?

The Hayne Misconduct in the Banking, Superannuation and Financial Services Industry | Royal Commissions, established in 2017, shone a spotlight on the damage that can be done if those trusted to manage money do not behave responsibly.

The findings led to reforms designed to improve industry standards, including in relation to financial advice.   

Since 1 January 2019, anyone wanting to become a financial adviser must complete an approved relevant bachelor or higher degree (or equivalent qualification), complete a professional year consisting of 1,600 hours of supervised work, pass the financial adviser exam, and meet continuing professional development (40 CPD hours) each year.

In addition to the qualification requirements, advisers must comply with a myriad of financial services laws.

Importantly, financial advisers must also comply with the five core values and twelve high level ethical standards in accordance with the Federal Register of Legislation - Financial Planners and Advisers Code of Ethics 2019.  

The code fosters client trust, professional conduct, and legal compliance in the financial advice profession.

Aeran’s financial advisers, Jane Campbell, Joe Felizzi and David Robertson, take pride the education, training and experience that we bring to bear to assist our valued clients.   

We are proud to work with Simon McKeough, who is in his final subjects of the Graduate Diploma of Financial Planning and has also commenced his Professional Year. Backed by nearly 20 years’ experience working for a private trustee company, we look forward to next year registering him on the Financial Adviser Register.