Michael Waycott, FIPA

Michael Waycott joins Carbon Elsternwick as an Accounting & Tax Partner, where he provides comprehensive financial solutions tailored to the needs of clients across a wide range of industries.

Professional Background and Industry Leadership

With over 30 years of experience as an accountant and 15 years as a financial advisor, Michael delivers trusted, local expertise to clients in Elsternwick and beyond. His previous roles involved managing an extensive client base and driving growth across accounting, finance, risk insurance and financial planning. Over 15 years, he achieved a 140% increase in revenue, wrote $350 million in new finance and led the firm in risk insurance, generating $1.65 million in initial revenue, all while consistently delivering exceptional results and high client satisfaction.

Earlier in his career, Michael developed and led a successful tax and advisory practice for medical and dental clients, building effective financial structures and supporting clients in achieving long-term wealth. A seasoned public speaker, Michael has shared his expertise in over 130 seminars and webinars, educating healthcare professionals on practical strategies for financial independence.

Expertise and Client-Centred Approach

Michael has built a reputation for creating trusted, long-term client relationships through clear and actionable financial advice. Driven by values and empathy, Michael listens intently to each client’s unique needs and serves as a reliable source of counsel. His areas of expertise include:

• Strategic Financial Planning and Wealth Creation: Michael excels in wealth-building strategies tailored to client goals, creating pathways to financial security and growth.
• Superannuation: Crafting superannuation strategies that maximise retirement balances, Michael provides clarity on complex rules to ensure clients are well-prepared for a secure retirement.
• Property Investment Insight: With a focus on capital growth, Michael advises clients on land-inclusive property investments, which typically offer stronger long-term appreciation than units and apartments.
• Business Strategy and Revenue Growth: With a keen eye for opportunity, Michael drives revenue through strategic cross-referrals, encouraging clients to benefit from the full range of services available for better financial outcomes.
• Mentorship and Team Leadership: Committed to developing future industry leaders, Michael has mentored many advisors, helping them build the skills needed to effectively manage and grow their client portfolios.

Approach and Client Philosophy

Michael’s dedication to simplifying financial concepts and building lasting client relationships makes him a perfect fit for Carbon, where client success is our top priority. He believes financial guidance goes beyond numbers, it’s about empowering clients to achieve financial freedom and security. With a proactive focus on goal-setting, early investment and smart risk management, he makes financial planning clear and accessible to build lasting partnerships. His approach reflects Carbon’s commitment to guiding clients at every stage of their financial journey, making Michael a trusted partner in Elsternwick and the wider Victoria region.

Business Tips from Michael

1. Set Clear Goals and Objectives: Written goals, whether short, medium or long-term, provide essential accountability. Revisiting these annually helps clients stay on track and motivated.
2. Diversify Investment Risk: Avoid concentrating investments in one area; a well-diversified portfolio across multiple financial sectors builds resilience and growth potential.
3. Don’t Delay Superannuation Contributions: Starting super contributions early allows for tax-free growth over time, ensuring a stronger financial foundation in retirement.

Get to Know Michael

Before calling Elsternwick home, Michael grew up in the small country town of Korumburra in South Gippsland, Victoria, where sport played a central role in his life. He spent years playing senior football, including two memorable seasons alongside his father, and continued to pursue cricket and basketball. In 2008, Michael’s competitive spirit led him to take up cycling, which quickly became a passion. He now rides three to four times a week.

Michael’s ideal weekend balances time with friends and family. It starts with a morning ride, followed by spending time with his wife and sons and ends with an evening out with friends, good food and a few glasses of wine. Among his favourite places travelled are the Dolomites in Northern Italy, known for stunning hikes and Hallstatt in Austria, a destination he describes as breathtakingly beautiful.