Financial Planning Process

Many of our clients are first-time advice clients. This means they’ve not seen a financial planner before and aren’t sure about how we work with them to advance their financial plans.

As a result of this, we outline below our financial planning process, covering what we do, and why it’s important to you. Of course if you have any questions about the financial planning process at any time, please ask.

The financial planning process

Why it matters to our clients

The initial introduction
We’ll talk about who we are, what we do and how we do it and how we charge. We’ll also ask questions about you.
This is your opportunity to ask questions about us and assess if we’re the appropriate kind of planner for you. Most times it’s the right fit, but sometimes it’s not. That’s ok too.
Identify your goals
To be successful advice providers, we need to understand your life and financial goals. We’ll also help you set realistic goals if you’re in doubt about what you can achieve.
Without knowing your goals, we can’t help you achieve them. Almost everything in life has a financial consequence these days so it’s important we understand what’s most important to you.
Review your situation
This step allows us to review your current situation. We’ll be interested in looking at your assets, your debts, savings, insurance, superannuation, investments, tax strategies and estate plans you have in place. As a financial planner we have a legal obligation to understand your situation, before we provide advice.
By understanding your financial life in the greatest detail we can, we can start thinking about which financial planning options and strategies might be appropriate to help you achieve your goals.
Strategy and recommendations
During this stage we focus on assessing different financial planning strategies and identifying which ones are appropriate for you. We also place our strategies in writing and will present this to you at a meeting for your review.
Receiving well researched and considered recommendations is really what financial planning is out for you – it’s about getting the advice you need to help you move your financial goals forward. Documenting the advice not only means you have a record of it, but it also provides a point we can measure your progress from down the track.
Implement the recommendations
Once you are ready to go ahead, we can implement the advice recommendations within your financial plan. We might also need to work with your accountant or solicitor depending on how complex the advice is.
The advice you receive provides clarity to make decisions. At this stage, and with your say so, we start turning the advice recommendations into reality.
Review progress towards your goals
Depending upon your goals, we’ll set a timetable to review the progress we’ve made together towards the achievement of your goals. We might also modify or adapt the strategies in place, depending on your situation.
All goals at some point require you to measure your progress. This stage also allows the financial planner to make sure the strategies are delivering for you as time progresses. Over time your situation is likely to change too. This means advice and strategy changes are also required.

How much will it cost?

Every client’s situation is different so the fees you pay reflect your advice needs. Advanced Financial Planning Solutions commits to the following.

  1. We are upfront with our fees, and will provide them to you once we understand your situation.
  2. You will only pay for the advice services you use.
  3. Unlike other financial planners, FPA members like Susie Erratt – Certified Financial Planner® abide by rules that require them to explain fees and charges in a clear and transparent way. An FPA member is required to make sure you understand and approve the fees before you pay or go ahead.

So there you have it, that’s how the financial planning process works at Advanced Financial Planning Solutions.

Is that the kind of financial planning process you’d like working for you?

Helping individuals, families, managers and business owners with their future financial plans is how we help clients step forward. Often our clients achieve more than they think they can, after they receive our advice.

Call us on 0411 331 870 or contact us and ask for an appointment.

Your first appointment is at our cost, to see how we might assist.

Is that the kind of financial planning support you’d like to access to help your family get and stay ahead?

If so we’re here to help you.

Call us on 0411 331 870 or contact us and ask for an appointment. Your first appointment is at our cost, to see how we might assist.