Step 1 – Establishing and defining the professional relationship (The first appointment)

The first meeting with us is always without charge or obligation as it is important to confirm that the client / planner relationship is appropriate for both parties. In this meeting we will provide you with information about ourselves, our competencies and services that we offer as well as establishing an understanding of your needs and requirements in order to determine if we are able to assist you.

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This first meeting is also about establishing a good working relationship and partnership between ourselves and defining the scope of our engagement by:

• explaining the process to be followed

• identifying your needs and level of advice required

• being clear about what your and our responsibilities are and how decisions will be made

• giving you clear service package options

• discussing payment for services

• mapping out the process and obtaining your consent to proceed

 

Step 2 – Gathering information

We will ask you to provide us with personal details, information pertaining to your current financial situation, commitments and short to long-term financial goals. We will then confirm and define your personal and financial goals with you, and set a time frame for results. We will look at your objectives, concerns and aspirations and discuss your attitude to investment and other risks. In planning your financial future, we believe that all of these factors are critical to understanding your personal approach to financial planning and risk taking.

 

Step 3 – Analysing and evaluating your financial status
This step involves analysing the information collected from you and assessing where you currently stand in relation to your goals. Depending on what services you require, this might incorporate analysis of the following:

• your balance sheet (assets, liabilities and cash flow)

• current risk (assurance) portfolio

• reviewing discretionary and compulsory retirement investments

• reviewing last will and testament and estate planning structures in place

 

Step 4 – Developing and presenting the financial planning recommendations
Once your personal and financial information has been analysed we will develop a financial plan. This details the recommendations and strategies for achieving your goals and objectives. It will look at your existing financial arrangements and lay out a plan for the future, and will cover your assets, investments, liabilities and income. It will also, importantly, look at contingency planning and help you plan for any disasters which may arise. Your financial plan can also include a will and other estate planning structures, along with any other specific personal needs that you may have.

 

We will present this plan to you and discuss and review these recommendations with you to ensure they are understood, along with any concerns that you, as the client, may have.

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The Financial Plan will enable a review of all aspects of your financial portfolio:

• your balance sheet (lifestyle and investment assets and liabilities)

• your risk (assurance) portfolio

 

Step 5 – Implementation
This stage details the implementation process (action plan) and calls for agreement from you, the client. Your planner / advisor will record any agreed implementation plan and attach all the necessary documentation in support of the plan.
Other professional expertise will be brought in if required.

 

Step 6 – Monitoring the financial planning recommendations
The final stage is about regularly reviewing the plan to make sure everything works for you. Your planner will look at any change in circumstances and, if necessary, change the plan to incorporate them. Reviews are usually done annually but can be done more often if needed. This review is also a chance for you to ask any specific questions that may have come up or to discuss any concerns you may have. This proactive review is about making sure your plan really works for you, every step of the way.

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Given the personal nature of a client’s financial affairs, we feel that personal interaction is extremely necessary in order to allow this process to work efficiently​