Frequently Asked Questions
The following are a list of questions that are often asked to us by our clients. If you have any other questions or comments please feel free to contact us at any time.
Fees differ according to your own situation and the complexity of the advice required. In some cases fees may be payable via superannuation or you may prefer to pay directly.
- Certified Financial Planner®
- Part of a Professional Practice with the Financial Planning Association
- Have completed relevant studies to Masters level
- Offer fee for service advice
- Plenty of easy to find client testimonials
- Their business is not aligned with any bank or product manufacturer
When you meet them:
- Is the first appointment complimentary?
- Do they take to understand your situation?
- Are things clear and easy to understand or are they over-complicating?
- Do you feel you can trust them?
There are two ways of describing it – one is listing the areas we cover, and the other listing the process.
Budgeting, Investing, life insurance, income protection, superannuation, retirement planning, debt management, Centrelink, estate planning. All or part thereof may be covered.
Here are the six steps from The Financial Planning Association:
These six steps help you to understand what you can expect when seeing a financial planner.
It’s important to make sure you are comfortable that your financial planner has taken the time to understand your needs, goals and preferences before they make any recommendations.
1. DEFINING THE SCOPE OF ENGAGEMENT
Your planner should explain the process they will follow, find out your needs and make sure they can meet them. You can ask them about their background, how they work and how they charge.
2. IDENTIFYING YOUR GOALS
You work with the planner to identify your short and long term financial goals – this stage serves as a foundation for developing your plan.
3. ASSESSING YOUR FINANCIAL SITUATION
Your planner will take a good look at your position – your assets, liabilities, insurance coverage and investment or tax strategies.
4. PREPARING YOUR FINANCIAL PLAN
Your planner recommends suitable strategies, products and services, and answers any questions you have.
5. IMPLEMENTING THE RECOMMENDATIONS
Once you’re ready to go ahead, your financial plan will be put into action. Where appropriate, the planner may work with specialist professionals, such as an accountant or solicitor.
6. REVIEWING THE PLAN
Your circumstances, lifestyle and financial goals are likely to change over time, so it’s important that your financial plan is regularly reviewed, to make sure you keep on track.
They may be suitable for holding business real property but it is important to seek advice about that being right for you.
Many of the purported advantages of SMSF’s are also available through conventional super platforms. Talk to us about it.