Financial advice must be provided to clients in a document called a Statement of Advice (Financial Plan). The process involves:
1. Strategic Advice
- Identification of client goals and objectives
- Prioritise client needs, goals and objectives
- Develop strategic advice (recommendations) to meet client needs, goals and objectives
- Identify why financial strategies recommended are appropriate
- Quantify outcome & benefits through implementing advice
2. Product Solution
- Research existing products to determine suitability
- Develop product recommendations to facilitate strategic advice & meet client needs
- Identify why product recommended is appropriate
- Quantify benefits and outcomes through implementing product advice
3. Implementation & Ongoing Review Service
- Implement the agreed recommendations to improve situation
- Review strategic advice periodically to track progress and maximise wealth creation opportunities
- Review product suitability and monitor investment performance
- Review milestones achieved to provide clients with peace of mind knowing they are on track to financial security
"It’s implementing the plan that produces the results"