Planning in 6 Steps
Everyone’s needs and wishes differ.
For this reason, we have a comprehensive approach to planning so our recommendations take into account your entire life circumstances and financial situation, including financial, taxation, legal and estate planning issues which affect you and which are crucial to a structured approach to the management of your finances and investments.
This approach helps to ensure our advice is expertly tailored to suit your unique circumstances, far increasing the likelihood that your goals will be achieved.
The six steps in the financial planning process are:
1 Initial Consultation
To start, we meet with you so we can learn about who you are and what you wish to achieve. We discuss your financial and lifestyle goals, analyse your needs and clearly detail your current and near term financial situation. These goals are kept for reference so that together with your adviser you can ensure you are on track throughout the process.
Your adviser will give you their personal disclosure statement outlining their qualifications and experience so you can be assured of their capability to help you make fully informed investing decisions.
2 Assessment
Following the meeting, your adviser will assess your situation and identify areas of strength and weakness. Your adviser will use sophisticated risk profiling and projection tools to paint a picture of possible future outcomes under various scenarios. That way we can show you what is possible based on a given series of actions around saving, spending and investing.
3 Formulating a Plan
Next, your adviser will prepare a comprehensive financial plan for you that covers financial objectives, discusses potential trust and estate planning needs (e.g. wills, enduring powers of attorney) and investing recommendations.
4 Presenting the Plan
Upon completion, your adviser will present your plan to you and explain the administration process. You will have the opportunity to discuss the plan and request any amendments you feel are necessary.
5 Co-Ordination and Implementation
If you are in agreement with your plan and want to implement your adviser’s investment recommendations, we will guide you through the process to do so.
6 Follow Up
Your adviser will regularly monitor your plan’s progress, reporting back to you either every quarter or every six months depending on your preference. In addition to formal reviews, you will have ready access to your personal adviser and can request a consultation or simply call to chat about your finances or investments.
On an annual basis your adviser will meet with you for a formal review of your progress and check that your circumstances still support the plan of action recommended.