What to expect

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Our 7 step process

When you meet with our financial planners we will take you through a 7 step process as detailed below, however it is important to note the law requires that any personal advice you receive from us must be appropriate to your circumstances. While you have the right not to tell us personal information, if you don't, the advice you receive may not be appropriate to your needs and your financial situation.

  •  An initial consultation that allows us to find out about each other.
  •  We will collect all the information we need from you (sometimes called 'fact finding').
  •  We will help you identify your goals and current financial position. We normally do this at the same time as the 'fact find'.
  •  We will consider the 7 building blocks or strategies (eg, tax, social security, estate planning etc), then develop and present you with written recommendations in a financial plan (called a Statement of Advice).
  •  We will discuss the recommendations with you and make sure you are comfortable and agree with them.
  •  We will implement the agreed recommendations.
  •  We will periodically help you review your objectives, financial situation and needs.

It is important to remember that you are in control and can decide whether to stop, change or continue at any stage of the process.

What information will you need prior to your meeting with us?

At our first meeting, we will ask you about where you are now, about your expectations, about how you would like to live your life.

Then we will conduct a process called 'fact finding' - where we will ask you about your personal circumstances and help you to determine your attitude towards risk. Your attitude to risk means whether you are conservative in the way you invest, aggressive or somewhere in between.

To help you be better prepared, we will ask you for a number of personal details which we need to put together your financial plan. We will ask things like your:

  • age
  • current personal income
  • family income
  • future income (inheritances included)
  • day-to-day expenses
  • your family circumstances (number and health of dependants, dependants from previous relationships etc)
  • future expenses
  • assets and liabilities
  • tax paid and tax owed
  • super and insurance situation
  • current investments
  • state of health.

You might also want to have a think about your goals and current financial position as we may cover some of the below:

  • when you want to retire
  • how you want to educate your children
  • whether a second home, like a holiday house, is important to you
  • do you have dependents you need to provide for if you are unable to work or if the unforeseen happens
  • whether you have an up-to-date Will
  • whether you are expecting any large expenses.

What will you receive?

During the financial planning process we will give you:

  • A Financial Services Guide, which outlines who we are, what we can advise on and how we are paid.
  • A written Statement of Advice that outlines the relevant information that you have provided, the advice you have been given and why it is suitable for you (along with how we get paid and any other benefits we may receive).
  • A Product Disclosure Statement - if we recommend a financial product. The Product Disclosure Statement gives you information about the product features, fees that apply, any adviser commission, benefits and risks of investing and what to do if you have a complaint.

Remember, it's important to keep these documents in case you need them in the future.

 

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