Financial Planning Information
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        What is Financial Planning?
 

Financial planning involves setting personal and financial goals and working out how to reach them.
A financial plan helps you properly manage your finances to achieve all of your goals – short-term, medium-term and long-term.

Financial plans need to be tailored to fit your individual circumstances and goals.

A Financial Adviser helps you develop a financial plan. Sometimes, if necessary, your Financial Adviser will also bring in other Advisers, such as your accountant and lawyer, to provide professional advice in their specific area of expertise.

Why have a Financial Plan?

A financial plan helps you reach your goals and prepare for the future. Your Financial Adviser can help you:

  • Invest in a range of sectors, asset classes and fund managers to ensure you have diverse investments
  • Minimise risk when money markets fluctuate
  • Protect yourself and your family with personal insurance
  • Protect your business with key person insurance, succession planning and debt protection
  • Prepare for retirement
  • Plan your Will
  • Monitor your changing needs
 
        The Financial Planning Process
 

While it might sound daunting, financial planning is really quite a simple process, involving the following seven basic steps:

  1. You will have an initial consultation meeting with your Adviser during which they will provide you with a copy of their Disclosure Statement, outlining your Adviser’s qualifications, experience and how they get paid.
  2. Your Adviser will talk with you to gather the information they need to develop your financial plan and to find out your attitude towards risk, so they can provide you with advice that will suit your personal financial style.
  3. Your Adviser will help you identify your goals and current financial position.
  4. Your Adviser will then consider strategies and options to help you meet your goals, identify problems and provide you with written recommendations.
  5. Your Adviser will then discuss the recommendations with you and make any adjustments needed so that you are comfortable with the plan.
  6. In order to get the results you want you need to implement your plan with your Adviser’s help.
  7. You need to review your plan periodically with your Adviser to make sure everything is on track and take into account any changes in your circumstances.
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