Step 1: Initial Meeting

The initial meeting provides an opportunity to explore a bit more about what we do, and for us to gain an understanding of your current situation so that we may begin to identify some strategies that you could benefit from. Since it is virtually impossible to undertake all investment tasks ourselves, we will need to assemble a team of professionals and contacts (Financial Advisor, Accountant, Mortgage broker, Solicitor, other, such as stockbrokers, SMSF administrator) to help you manage your financial affairs.

Step 2: Information gathering

The step is all about knowing where you are now in terms of your total assets, total liabilities and net assets. The structures you have in place for your investments, the various forms of insurance you hold, and your estate-planning details. So that we have an accurate summary of your financial situation.

Step 3: Your Financial Plan/decide on your strategies

Strategies are simply a list of things that you need to do to improve your financial situation. To help you on your way, here are some examples of strategies we have developed with our clients:

  1. Establish a regular savings plan for $500 per week to save for an Education Fund to the value of $200,000.
  2. Salary sacrifice $25,000 per annum to save me $2,500 in tax per annum and build my retirement savings by an additional $350,000 over the next 10 years.
  3. Make a co-contribution on behalf of my partner to obtain a $1,000 bonus into my partner’s super fund when we do our tax returns.
  4. Sell our existing investment property, make a concessional contribution to superannuation of $25,000 each (to reduce capital gains tax) and contribute the balance into my super fund as a non-concessional contribution to boost my retirement savings.
  5. Sell my current shares and withdraw my managed funds and invest my spare cash into a new portfolio of investments that are more appropriate to my risk profile and personal objectives.
  6. Consolidate superannuation by rolling over my three existing superannuation funds and establishing a self-managed fund or rolling into a chosen single fund
  7. Obtain a Will (with a testamentary trust) and a power of attorney. Consider guardianship for the children.
  8. Ensure you have adequate life, TPD, Trauma and Income Protection Insurance.

Step 4: Present Recommendations

We will present you with your financial plan. We provide the opportunity to ask as many questions as you need to. We want to ensure you understand the strategies you will be putting into practice before we go ahead.

Step 5: Implementation

This step is all about the tasks that need to be undertaken to ensure that your strategies are implemented. We will do the leg work for you to make it as simple as possible to set up your chosen strategies.

Step 6: Review

Your strategies will change over time, and you will obviously need to add new strategies from time to time to deal with specific issues such as retirement, redundancy, divorce, family issues, sickness, sabbaticals and other life events that will have an impact on your finances. We will ensure that every year we review your financial plan to ensure that the plan still meets your current needs and objectives.