So, you've never engaged the services of a Financial Planner but wonder what's involved?
What some may view as complex and overwhelming, by walking you through the steps, we hope that you will feel more comfortable and informed.
We've broken the process down so you can see that it's not as complicated as you think!
Before your first meeting takes place with either Thelma or Jane, a little bit of planning on your part is needed. Of course, this will differ from person to person, depending on your own current situation and circumstances, but documentation such as your income and expenditure, assets and liabilities, latest payslips and most recent tax returns, to name a few, are needed. We'll send you some information that will help you to be as prepared as possible, to bring with you to your initial complimentary meeting.
Meeting with a financial planner for the first time may place you out of your comfort zone but this is an opportunity for us to get to know you and discuss your financial and lifestyle-related goals and dreams. It's important for you to be open about your finances and as difficult as this may be, it will help us to understand your needs and wants.
What stage are you at in your life? Do you have any concerns? What do you hope to accomplish? What are your priorities? When do you hope to retire? It's our job to help you work through your finances to achieve your goals.
You can expect this meeting to last for a minimum of one hour. Our aim is for you to have felt listened to and supported. If after this initial meeting you feel that we are not quite the right fit, that's okay! But if you do? Then let's get ready to plan your financial journey.
Now that we have met with you and based on the goals that you are hoping to achieve, it's our job to research and carefully analyse your current circumstances and future goals. This step takes us about two to three weeks, where we look at ways to help you bridge the gap from where you are now, to where you want to be.
We take into consideration your assets, liabilities, income, including insurances and estate plans if you have them. We walk through a range of insurance, investment, superannuation and retirement income stream products, all of which have been researched and industry approved, to determine the best and most appropriate options for building your wealth creation.
This step takes between three to five weeks and is where we fine-tune our plan for you and document our recommendations. We get to meet with you again (and as needed) to discuss our proposed strategies for you to achieve your financial goals. We really want to make sure that together, we get it just right and that you understand what we are proposing.
Once you are happy with our recommendations, we can discuss our fees. It's never a one-size fits all as the cost is determined by the services suggested, for example, you may only require assistance with budgeting, or you may need a full suite of services, ranging from insurance and superannuation to cash flow management and planning for retirement.
Okay, so now we join all the dots, having listened, researched, strategised and provided our recommendations, we are excited to be working with you to map out your financial journey.
We have documented and finalised your personalised plan for the future! This is where we meet with you to sign the documentation to enable us to implement your plan of action. We complete any requests that you may have (such as underwriting insurance or liaising on your behalf with third parties such as Centrelink or your employer)
Now that you have signed your financial plan, it's up to us to help you implement your plan correctly and effectively. It doesn't end here, in fact, it's just the beginning and together, we will schedule the ongoing management of your plan to help you stick to your timeline and stay on track!
Still have questions? Our team are here and happy to answer them. Please phone us on 9841 1688 or send an email to firstname.lastname@example.org
Through this six-step process, our aims are to save you time by taking out the guesswork, to empower you to create and maintain long-lasting financial success and to provide you with the tools to achieve your financial goals, because your life is a journey worth planning.
Sound Life & Superannuation Agencies Pty Ltd trading as Sound Life Financial Services is the Authorised Representatives of Synchron, AFS Licence No. 243313.
The information contained in this article is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.
Sound Life & Superannuation Agencies Pty Ltd trading as Sound Life Financial Services are
Corporate Authorised Representatives of Synchronised Business Services Pty Ltd
ABN: 33 007 207 650 trading as SYNCHRON
Principal address: Level 1, 65 Palmerston Crescent, South Melbourne Vic 3051
Australian Financial Services License Number: 243 313