The Financial
Planning Process
The Financial Planning Process
What happens when you see an adviser?
At the first meeting you’ll just go over some basics. The adviser may try and establish details about your current financial situation and what your plans are for the short, medium and long term. They will also clearly explain what they offer and how they charge. They may also go through some simple financial strategies, including some you may not have thought of. You should ask questions at this meeting and decide for yourself whether you feel comfortable with this financial adviser.If you decide to proceed, your financial adviser will then develop a strategy, a plan and investment recommendations outlined in your personalized Statement of Advice. This may take several meetings. Once you’re happy with the plan, your financial adviser can place the investments on your behalf. You will then agree when you will next review your portfolio, most likely on a yearly or half yearly basis.
What does the adviser expect of you?
It is expected you are upfront and honest with your complete financial situation. Advisers can only work off the information provided and this includes your concurrent and previous relationships with other entities. We believe in a two-way relationship and entrust our clients will treat us with the same respect we show them. If you feel uneasy, it’s OK to walk away. After all, it’s your life and your money. Financial advice is a people business and not all personalities get along. People communicate using different styles and advisers understand this. When you get a good plan, stick to it. Investing takes discipline and focus. You paid for a financial plan for a reason. The best value you can get from your financial plan is by sticking to the plan.