OUR ADVICE PROCESS
DEVELOPING YOUR UNIQUE ROAD-MAP TO FINANCIAL FREEDOM
The first 2 meetings are all about identifying where you are now, where you want to be and how you get there. Specifically we’ll go through the following:
Meet & Greet
- Make sure we both feel comfortable with each other (because the very nature of Financial Planning is such that it should be a LONG TERM relationship!)
- Discuss your current situation, financial and lifestyle goals & objectives with you
- Determine if we can be of assistance to you
- Explain who we are, how we operate, the benefits to you & what you can expect from us
- Explain & agree on fees, costs & the scope of advice or services to be provided
Fact Find & Strategy
- We spend considerable ‘fact finding’ time with you to:
- Prioritise your goals & objectives (financial, personal & business)
- Overview your current financial situation
- Discuss & ascertain your investor ‘risk profile’
- Overview your current insurance policies
- Ensure that we get a clear understanding of what you want YOUR financial strategy to achieve!
Then we identify ways to:
- Improve or streamline your current situation (to make it easier & save you money!)
- Identify and model appropriate wealth creation, risk management & retirement planning scenarios & educate you in detail
- Optimise retirement income streams
What Goes Into The Preparation Of A Statement Of Advice?
Formulate a plan that will meet all of your stated goals & objectives & prepare your “Statement of Advice” To prepare your statement of advice we comprehensively model the plan formulated in the strategy meeting looking to:
- Identify ‘wealth creation’ strategies
- Protect your assets by minimising your financial risk
- Optimise your debt structures (identifying ‘good & bad’ debt!!)
- Maximise investment returns, Minimise taxation, Maximise Government entitlements
- Investigate & determine ideal investment vehicles & fund managers to meet your objectives
- Research products which best suit your needs
- Consider taxation & centrelink issues, legislation & rules
- Utilise the available retirement income streams
- Provide written, clear & understandable advice
- Privacy & Confidentiality assured
- Strictly comply with FPA & ASIC compliance guidelines
Strategy Implementation
- We may need to make slight adjustments or clarify any details (make sure it’s perfect)
- When you are happy, you give us authority to proceed with our recommendations
- We prepare all the necessary paperwork and filling in of forms
- We assist with any insurance underwriting requirements to make the process as smooth as possible
- We monitor all aspects of strategy implementation through to completion
Ongoing client care
Financial planning is a dynamic process because changes in your personal situation, financial markets and legislation will occur over time. An important part of our role is to keep you accountable to the game plan to make sure you stay on track to what you wanted to achieve. As such, we will recommend that you subscribe to one of our Client Care Package options, which include our review process. It is important that we ensure the data we hold for you is up to date. The attached CFL Advice Process shows the steps we go through before each new advice document is prepred.
- Updating your present circumstances
- Revisiting your initial goals and objectives to ensure they are still valid & not changed
- Review the performance of the financial plan recommendations to ensure the fund managers and products are meeting expectations
- Review your investor risk profile because this may change throughout different stages of your life
- Reviewing any changes to governing legislation, which will impact on your financial plan now and in the future and identify opportunities that may result
- Discussing your current lifestyle needs and checking that the financial plan is meeting these needs
- Reviewing your insurance protection needs to ensure they are adequate to your changing circumstances
- Provision of written recommendations
- Updating you on changes occurring in the markets and in the different economies around the world and the affect these might have on your plan
- Rebalance your investments back to Benchmark asset allocations to ensure that you maximise returns by constantly realising profits at the high’s and investing at in the low’s, therefore reversing the natural trend to buy on the high and sell on the low
- Coaching you through uncertain times and educating you through the process
OUR ADVICES
CFL FINANCIAL PLANNING IS SUPPORTED BY
