Financial Advice

Financial Advice Definition:

Financial planning is a generic term used to describe a variety of functions and services. Put simply, financial planning is a professional discipline that helps people attain their financial goals and objectives. This is achieved through a thorough analysis of your financial circumstances, and the development of a long-term financial planning strategy.

Financial planning takes a holistic approach, taking into account your current situation and needs (eg. your assets and liabilities) and your future objectives and goals, in order to help you make the most of your financial situation.

Financial planning requires specialised skill, research and a clear approach. If you’re new to Sound Life or this is your first visit to our website, click here to email us or read on to find out how we can help you.

 

Benefits of Professional Advice

Your wage doesn't have to be the only income you earn. Financial planning can help your hard-earned money work for you – for example, through wise investment decisions. Sound financial planning is necessary if you want to enjoy a secure financial future – no matter what you aim to achieve in life, and no matter how much money you earn. Financial planning isn’t only for the wealthy, but it is an effective means of creating wealth.

The growing legislative complexity and the rapidly changing financial markets mean it’s becoming increasingly difficult to make the right financial choices without professional advice. Even individual investors with industry knowledge who regularly follow the stock exchange, find it time-consuming and incredibly challenging to keep up-to-date with the constant changes.

Developing a relationship with a financial adviser can, however, bring together your knowledge with that of a professional who spends their time focussing on how to make the most of the changing markets. Sound Life Financial Planning’s financial planners receive regular communications that introduce new opportunities and review the changes in the financial environment. We are supported by a research group comprised of a team of dedicated and experienced professionals who analyse financial markets, investment performance, legislative changes and the overall shifts in the financial services industry.

 

The Process

The financial planning process begins with defining your needs, objectives and current situation.

Once these are established, we are able to devise a strategy to meet your goals.

Upon your approval, a statement of advice will be developed recommending a selection of financial products and solutions (for example, managed funds, cash management account, income protection or superannuation) within the scope of platforms/products available for planners to recommend.

Sound Life Financial Services has a comprehensive and methodical system for providing you with well-researched financial solutions.

 

Payment Options

In return for giving advice, we receive income by:

  • commission or brokerage fees - where they receive an initial payment and ongoing fees from the fund manager or life company;
  • charging a fee for service - whereby you pay an hourly rate (In this scenario, commission and brokerage fees may be rebated to your investment. Speak to us for clarification.);
  • asset-based fee structure – where the fee is charged as a percentage of the funds invested; or
  • a combination of the above.

 

Financial Planners’ Titles

Financial Planners are referred to in a variety of ways: as financial planners, and (when they are linked to an Australian Financial Services Licensee, such as Financial Planning) as authorised representatives. However, the critical deciding factor shouldn’t be so much what they are called, but rather that they meet the necessary criteria.

For further information please refer to: Selecting a Financial Planner.


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