Planning
The personalised planning service provided by Australian Financial Services advisers is very thorough. The result of the planning process is a detailed set of product and service recommendations tailored to the individuals situation. This process follows a logical and proven path.
- Fact Finding - where all necessary information is gathered to assist in development of the Statement of Advice (SOA). This will include all relevant facts of assets and liabilities, current plans, current superannuation and life insurance products, plus the long and short term goals of the individual.
- Evaluation - where all the information is considered and the client's present position is compared to their objectives.
- Analysis of Options - where areas needing attention are addressed and alternatives to achieving the objectives are considered.
- Recommendations - are presented and the client has any significant risks and the overall strategy explained to them. All questions are answered and priorities set.
- Implementation - clients authorise the Australian Financial Services representative to implement the chosen strategy.
Once implemented, to remain effective all financial recommendations and strategies need to be reviewed from time to time. It is advised that this be done no less frequently than annually, as this will allow changes in personal circumstances, movements in investment markets, and changes in tax ruling and legislation to be considered.