top of page

What is the 5 Step Financial Planning Process ?

Initial Consultation (at our cost)

  1. No obligation to proceed.

  2. Meet, greet & both feel comfortable with each other (the very nature of financial planning is such that it should be a LONG TERM relationship)

  3. Discuss your current situation, goals & objectives with you.

  4. Determine if we can be of assistance to you.

  5. Explain who we are, how we operate, the benefits to you & what you can expect from us (WPFS)

  6. Explain & agree on fees, costs & the scope of services to be provided.

  7. We provide you with a copy of our Financial Services Guide (FSG)

  8. You give authority to prepare a comprehensive or specific advice Financial Plan.

Strategy & Plan Preparation

We spend considerable 'fact finding' time to:

​

  1. Help you consider and prioritise your goals & objectives (both financial & personal)

  2. Overview your current financial situation.

  3. Discuss & ascertain your investor 'risk profile'.

  4. Look for any holes in your current 'risk protection' strategy.

  5. Discuss any other issues you would like us to address.

  6. Ensure that we get a clear understanding of what you want YOUR financial strategy to achieve.

​

Then we identify ways to:

​

  1. Identify appropriate 'wealth creation' strategies.

  2. Protect your financial risk.

  3. Maximise investment returns.

  4. Maximise government entitlements.

  5. Investigate & determine ideal investment vehicles & fund managers to meet your objective.

  6. Consider taxation & centrelink issues, legislation & rules.

  7. Strictly comply with FPA & ASIC compliance guidelines

  8. Formulate a plan that will meet all of your stated goals & objectives.

​

Strategy Presentation

  1. Meet again to present strategy recommendations (explaining in an understandable format & educate in detail)

  2. Provide an overview for your ease & future reference.

  3. Focus on how our recommendations will achieve your desired outcomes.

  4. Fully disclose all fees as per ASIC guidelines.

  5. You may take the plan away for final consideration or further adjustment.

Strategy Implementation

  1. We may need to make slight adjustments or clarify any details.

  2. When you are happy, you give us authority to proceed with our recommendations.

  3. We prepare all the necessary paperwork and filling in forms.

  4. We assist with insurance underwriting requirements to make the process as smooth as possible.

  5. We monitor all aspects of strategy implementation through to completion.

Ongoing Service & Review (Client Care Package)

  1. Updating your present circumstances.

  2. Revisiting your initial goals and objectives to ensure they are still valid and have not changed.

  3. Review the performance of the financial plan recommendations to ensure the fund managers and products are meeting expectations.

  4. Updating you on changes occurring in the markets and in the different economies around the world and the effect these might have on your plan.

  5. Coaching you through uncertain times and educating your through the process.​

bottom of page