Planning your future: What to expect

Planning your future: What to expect

Planning your future. What to expect.

Having the chance to take a step back for a moment and look at things from a fresh perspective can be a great advantage, especially when it comes to planning your financial future.

  • Our 7 step process
  • What information will you need prior to meeting us?
  • What will you receive?

Our 7 step process

When you meet with our financial planners we will take you through a 7 step process as detailed below, however it is important to note the law requires that any personal advice you receive from us must be appropriate to your circumstances. While you have the right not to tell us personal information, if you don’t, the advice you receive may not be appropriate to your needs and your financial situation.

  •  An initial consultation that allows us to find out about each other.
  •  We will collect all the information we need from you (sometimes called ‘fact finding’).
  •  We will help you identify your goals and current financial position. We normally do this at the same time as the ‘fact find’.
  •  We will consider the 7 building blocks or strategies (eg, tax, social security, estate planning etc), then develop and present you with written recommendations in a financial plan (called a Statement of Advice).
  •  We will discuss the recommendations with you and make sure you are comfortable and agree with them.
  •  We will implement the agreed recommendations.
  •  We will periodically help you review your objectives, financial situation and needs.

It is important to remember that you are in control and can decide whether to stop, change or continue at any stage of the process.

What information will you need prior to your meeting with us?

At our first meeting, we will ask you about where you are now, about your expectations, about how you would like to live your life.

Then we will conduct a process called ‘fact finding’ – where we will ask you about your personal circumstances and help you to determine your attitude towards risk. Your attitude to risk means whether you are conservative in the way you invest, aggressive or somewhere in between.

To help you be better prepared, we will ask you for a number of personal details which we need to put together your financial plan.

We will ask things like your:


current personal income

family income

future income (inheritances included)

day-to-day expenses

your family circumstances (number and health of dependants, dependants from previous relationships etc)

future expenses

assets and liabilities

tax paid and tax owed

super and insurance situation

current investments

state of health.

You might also want to have a think about your goals and current financial position as we may cover some of the below:

when you want to retire

how you want to educate your children

whether a second home, like a holiday house, is important to you

do you have dependents you need to provide for if you are unable to work or if the unforeseen happens

whether you have an up-to-date Will

whether you are expecting any large expenses.

What will you receive?

During the financial planning process we will give you:

  • A Financial Services Guide, which outlines who we are, what we can advise on and how we are paid.
  • A written Statement of Advice that outlines the relevant information that you have provided, the advice you have been given and why it is suitable for you (along with how we get paid and any other benefits we may receive).
  • A Product Disclosure Statement – if we recommend a financial product. The Product Disclosure Statement gives you information about the product features, fees that apply, any adviser commission, benefits and risks of investing and what to do if you have a complaint.

Remember, it’s important to keep these documents in case you need them in the future.

Planning your future: What to expect

Want to know more. 

If you need help with personalised advice on financial planning, be it wealth strategies or protection for you or your family, or a need to discuss your present or future retirement options give us a call today on 03 6343 1007.  

Alternatively send us a message or simply book an appointment now with one of our qualified financial planners on our online booking service at a mutually acceptable time.

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FinancialPartners (Tas) Pty Ltd ABN 26 160 284 739 is an Authorised Representative and Credit Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 Australian Financial Services Licence 232706 and Australian Credit Licence 232706.

‘This blog post contains information that is general in nature. It does not not take into account the objectives, financial situation or needs of any particular person.  Because of this, before acting on any advice, you need to consider your financial situation and needs before making any decisions based on this information.

 You should consult a financial planner to consider how appropriate the advice is to your objectives, financial situation and needs.

 If you decide to purchase or vary a financial product, your financial adviser, AMP Financial Planning and other companies within the AMP Group may receive fees and other benefits. The fees will be a dollar amount and/ or a percentage of either the premium you pay or the value of your investment. Please contact us if you want more information.

Planning your future: What to expect

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