ADVICE PROCESS

A FREE initial 15-minute phone call or video call to understand who we are, what we do, consider your current financial position, goals, concerns and how we can assist. 

We can discuss the types of advice you might benefit from, costs that would be involved and anything else to help you consider if there’s benefit to getting formal advice. 

If you are ready to proceed to formal advice, or if you are not sure yet whether you need formal advice and whether we are the right fit for you, our next step is to do a Fact Find Meeting with one of our Senior Advisers. 

During this meeting we will discuss your detailed financial position and goals/objectives which may include superannuation, personal assets, investments, liabilities, income and expenses, estate planning matters, your risk profile and insurance needs so that we can ensure we truly understand your position and how we can assist. At the end of this meeting, you will receive a report detailing your financial position so that you too have a better understanding of where you are now. This document will also include your Letter of Engagement with proposed advice areas and fees payable if you choose to proceed with formal advice. 

Whilst we can't give you any advice or recommendations in this meeting, we can help you to understand the factual rules and answer your queries regarding contribution caps, tax rates, investments etc. so that you can make your own decisions from there. 

This meeting is charged at an hourly rate ($550 incl. GST), however the cost will be deducted from any formal advice fees if you then proceed with an advice package.

Once you and your Adviser have agreed on the areas and types of advice you need and want, you can sign off your Letter of Engagement to request us to proceed. 

Your Adviser will arrange a Strategy Meeting with you where you can discuss your needs and preferences for strategies and products which may be suitable for you, discuss and prioritise your goals, discuss insurance needs in more detail and anything else that is required to ensure you receive advice which meets your objectives and is in your best interests.

At this stage, you are required to pay the deposit for your advice, to enable your Adviser to begin their research, complete financial modelling and more (per the Research & Strategy section following).

Once your Adviser has all of your relevant information, they will then work through the formal research process of your existing products/strategies, analysing cash flow trends and needs, reviewing your personal/overall risk position and risk matrix, review your insurance needs analysis and consider alternative strategies/products which might be beneficial for you. They will create your “Current” financial model and then create and compare alternative options to ensure the most beneficial and appropriate advice is provided to you.

Your Adviser will consult with your Accountant and/or Solicitor as required through this process if it is necessary for the accurate provision of your Advice. You should advise your other specialists that we may be in contact for this. 

Once all research, financial modelling and quotes are completed by your Adviser and the team, our Paraplanners will create your formal Statement of Advice document. This document allows your Adviser to layout the recommendations they are making, the reasons, benefits, risks and alternative options to you, as well as any costs or other matters for you to consider so you can make an informed choice.

You will be scheduled into a meeting (online/phone or in-person) with your Adviser who will take you through the advice, consider any changes that need to be made in conjunction with you, and then send the documents to you for electronic sign-off which authorises us to begin implementing the advice for you. 

Your Adviser will ensure the advice is clear and you understand it fully before anything is implemented, and alterations to the Statement of Advice can be made before final signoff. 

Once you have signed the Authority to Proceed for this advice, we will begin the implementation process and keep you updated throughout the process. This process normally takes between 2-4 weeks depending on information or documents we may need, or delays from external parties. 

Once your advice document has been signed off, we will start preparing any paperwork, applications etc. which are required to put the recommendations in place. These will be sent to you electronically to review and check for any errors, before you formally sign off to proceed with each step. Our team will keep in contact with you to follow up outstanding items, and answer any questions you may have along the way. 

We work closely with the Underwriters of the insurance providers, and we will work with you directly also for any insurance applications being put in place. We will also manage the process with the superannuation funds, investment firms and any other provider who is involved in your implementation process i.e. Accountant, Solicitor etc.

We will keep you updated through the process and let you know once implementation has been completed in full, or if any alterations are required due to changes in your personal and financial situation, or with a product provider, or with legislation/the economy. This process normally takes between 4-6 weeks, depending on turnaround times from involved providers/specialists.

This is by FAR the most important stage.

If you ask us how to get from the east coast of Australia to the west coast, we can draw you a map. This is your initial Statement of Advice. 

But if you want a support driver to help you navigate when roads get flooded, find alternative routes, discover shortcuts to get you there sooner and help you fix a flat tyre - this is our Annual Planning and Review Service. 

Depending on your situation complexity and/or needs, this may include annual, quarterly or monthly reviews. It also includes ongoing monitoring of your position and investments to ensure your financial future remains on track and you are not exposed to unnecessary risks.

Depending on the level of service you request for your Annual Planning & Review service, you will receive;

• Emails, calls and questions with the team and/or your Adviser
• Set annual, quarterly or monthly meetings to review your products and strategies, consider any changes to your position or goals, and plan for the year ahead

Additional services which can be provided (charged separately);

• Ad hoc meetings as required
• Ongoing Financial Coaching to help you take more control over your finances and actually enjoy it!
• Second opinion service on any jobs, projects or investment opportunities      presented to you

Our team will setup the Annual Planning & Review fees during the implementation process. Your Adviser will regularly review your products (superannuation, investments, insurances), review of your annual tax returns and anything else that has been requested by you through your formal Letter of Engagement (based on your chosen level of service).

You will receive ad-hoc reviews if required through the year, for example for changes to tax law, super law or any other legislative changes which may impact your long-term position, identifying any new opportunities which may have arisen as well as any new gaps/risks which you need to be aware of (may be at an additional charge). 

You will receive economic and other news updates/communications from us from time to time based on your products held and relevant news – you may opt-out of this information marketing at any time. 

At least once a year, your Adviser will sit with you (online, phone or in-person) to complete a full personal and financial review to discuss the above matters that have been managed through the year and consider what changes you should implement at this point. We will assist with your tax returns (if engaged with us for this service) and ensure you are always maximising your position for your future. 

Where do the meetings take place?

The initial meeting is online, either by phone or online video meeting - this way you can fit it into your busy schedule and can be completed at work or home.

The more formal advice meetings from there can be held anywhere - we prefer Microsoft Teams meetings which allows you to meet wherever suits you best and reduces travel time for all involved, however you can also come to one of our many offices if you prefer, located in Beaudesert and Tamborine Mountain. 

If I become an ongoing client, am I locked into an ongoing contract?

Our Annual Planning & Review service is based on 12-month ongoing agreements which can be cancelled at any time, however if you cancel in the middle of a 12mth period we may charge the cost of any advice or services which have been provided to the termination date. 

What if I only need a one-off piece of advice?

Annual planning and review of your position and strategies and products is vital to ensure you remain on track, remain in-line with current legislation which may cause additional risk to you, or new opportunities for you to take advantage of. Our pricing is based on the assumption that we will work with you for a number of years to ensure the advice remains appropriate for you and is implemented correctly. If you have a single area you wish to discuss we can arrange a quote for a one-off advice fee.

Are fees tax deductible?

Fees paid from superannuation are tax deductible to the super fund. Initial advice fees may be tax deductible depending on the areas of advice provided. Ongoing service fees relating to investments outside of superannuation may be tax deductible. We will work with your Accountant if needed to ensure you get the maximum deduction.