Steps of financial planning

Getting to know you and setting the scene

Our first contact maybe be over the phone or in person. We’ll discuss some basics about your financial interests, where you would like assistance, explain some of the financial planning steps, start to discuss documentations / statements of your basic assets, liabilities, identification. We will then organise a specific time to dive deeper into your financial and lifestyle goals to identify what is important to you.

Setting your personal goals and objectives

In this no obligation discovery meeting we will discuss life and financial goals in conjunction with your current financial situation. We will help identify your financial strengths and weaknesses and outline potential strategies which may be beneficial for you to consider. We will give you an outline of the next phase of the financial planning process and provide an early indication of fees for any future work you would like us to complete.

Providing financial options and choices

Our next step includes an engagement meeting to discuss a number of strategies and any pre-work required to give an accurate picture before creating your personalised plan. Depending on your unique circumstances and the complexity of your requirements, we may invite you in for a 2nd meeting to discuss our findings, provide further education on strategies we believe are relevant and advantageous to you. It is our goal to make sure that you understand what and why we are short listing strategy options and alternatives which relate to your objectives.

Creating your personal financial strategy and plan

We provide you with your formal personalised advice document (Statement of Advice) and step through each recommendation with you to ensure you have a stronger understanding of how each step helps to achieve your goals and objectives. We then allow you to read through your advice at your own leisure and come back to us with any further questions.

Implementation of your financial plan

Implementation Meeting (Optional) – we strongly encourage all of our clients to read through our advice and additional documentation and come back to us with any questions before signing our Authority to Proceed (which allows us to proceed with implementing your personal advice). Once complete, we step you through any paperwork required to implement steps within your advice with you and explain what each form or document is intended for.

Ongoing management and review of your financial situation

This is highly recommended as your objectives and circumstances will change and evolve over time, further we need to ensure your strategies remain on track with your initial stated objectives. Financial planning is a dynamic process and does not end when you take particular action. We may provide additional advice during this phase due to economic or social fluctuations, new opportunities arising or if your circumstances have changed. Periodic reviews allow for your strategies to keep pace with new financial product and services, economic, legislative and taxation changes which can impact your original plan.