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What is Financial Planning?

Financial Planning is an ongoing process which involves understanding your personal circumstances and developing and monitoring strategies to ensure you achieve your lifestyle and financial objectives. It should be a thought provoking process that provides peace of mind that you have planned for the present and future.

We consider it essential for you to understand our approach to financial planning, the role of your planner and what you can expect from our relationship.


Our Financial Planning Approach

1. Understanding your personal circumstances

It is important we have a thorough understanding of your personal circumstances. We begin the process with an initial meeting to assess your:

  • Reasons for seeking advice
  • Personal details
  • Family situation
  • Lifestyle objectives
  • Advice expectations

2. Understanding your financial circumstances

We require a thorough understanding of your current financial position. Within the initial meeting we will also source information from you on your:

  • Income and expenses
  • Debts
  • Lifestyle and investment assets
  • Financial commitments
  • Superannuation benefits
  • Life insurance policies

3. Evaluate what you have and can achieve

We evaluate the information gathered to determine whether your lifestyle and financial objectives are achievable based on your current circumstances.

We then consider any existing strategies, identify opportunities and develop strategies to assist you in achieving your objectives.

Matters we may consider include:

  • The financial and tax strategies available to accumulate and manage your wealth
  • The inclusion of investment structures
  • The level of investment and timeframe required to achieve your objectives, including your attitude to risk
  • The types and level of life insurance required to protect you and your family
  • The estate planning documents required to protect your assets in the event of death or loss of capacity

Our financial planning service is tailored to your personal circumstances and requirements. Our approach can be comprehensive, covering all components of your financial affairs, or specific and only cover one or two areas.

We will discuss any limitations of adopting a specific approach with you.

4. Prepare and present your financial plan

Prepare your financial plan

With knowledge of your lifestyle and financial objectives, risk profile and financial circumstances, we will document the strategies we recommend to achieve your objectives.

Present your financial plan

Your understanding of the financial plan is key to its success and therefore we will present a written report to you, incorporating the reasons, benefits, risks and costs associated with our recommendation.

This provides you the opportunity to query any components of the financial plan and ensure you understand and are comfortable with our recommendation and how it intends to meet your lifestyle and financial objectives.

5. Implement your financial plan

Once you are comfortable with the financial plan and provide us with approval we will assist with implementing our recommendation.

We will keep you up to date during the implementation phase and make you aware of any correspondence or contact to expect from us or third parties involved in the process.

We will contact you on completion of the implementation of your financial plan to provide you with the opportunity to raise any queries.

6. Review your financial plan

One of the most important components of our financial planning approach is revisiting your financial plan, at least annually, to ensure it remains appropriate and relevant to your circumstances.

Life changes, as does legislation and the world around us, so a review is necessary to ensure you are still on track to achieve your lifestyle and financial objectives, even during times of change.

Some of the aspects we consider during our review include:

  • Changes to your personal circumstances
  • Changes to your lifestyle and financial objectives or their priority
  • Economic and investment market conditions
  • Legislative and regulatory environment
  • Financial product innovation and development

Any recommended changes to your strategy or investments will be presented in a subsequent written report for your consideration and discussion. If you are comfortable to proceed we will assist to implement any changes on your authority.

Early planning is key to
achieving your objectives.

Contact us to learn how our planning can assist with securing your
financial future.