For our new clients, we follow a five-step process to create a personalised and tailored strategy.
Step 1: Initial meeting
The first meeting is primarily about getting to know each other. It is a fact finding exercise to learn and understand your current financial situation, needs and goals, attitude towards risk and future financial and lifestyle aspirations. In this initial meeting we will map out how we believe we can help you and you can assess whether we have the expertise to deliver your goals.
We will explain our services and our fee schedule in this meeting.
Information to bring to this meeting includes:
- Superannuation statements
- Bank account statements
- Personal tax returns
- Loan information
- Existing investment details
- Direct share details
- Insurance policies with details of premiums and cover
- Estate planning documents
Step 2: Statement of Advice
Once you have agreed to proceed, we will use the information gathered in our initial discussion to develop a detailed ‘Statement of Advice’. We will also liaise directly with your superannuation funds, insurance providers, accountants and tax advisers to collect all the necessary information needed to create a personalised strategy structured around your goals.
The document will outline your current financial position and needs and explains the overall strategy to achieve your goals and includes recommended investments and platforms to manage your finances. We will explore a range of options for wealth creation and protection providing detailed information about the potential benefits, costs and risks of each alternative. In formulating your strategy, we will draw on the market insights and research capabilities of the Godfrey Pembroke network.
The document will typically include:
- Overview of your current assets and liabilities
- Lifestyle goals and objectives
- Your investment risk profile
- Current asset allocation
- Current portfolio performance
- Superannuation and pension details (if applicable)
- Current income and taxation schedule
- Strategy recommendations including cash flow, superannuation, investment and estate planning strategies
- Retirement planning projections
- Investment and platform recommendations and research
- Summary of our client and ongoing service, initial and ongoing costs and fees
Step 3: Strategy presentation
After completing your Statement of Advice we will schedule a meeting to present the document and our strategy, platform and investment recommendations.
At this meeting you will have the opportunity to ask questions and make sure you understand everything that is contained in the document before you proceed. If you are uncomfortable with any aspect of our recommendations we will work with you to revise or adjust the advice accordingly.
You will receive research and product disclosure statements relating to the investments or financial products recommended.
Step 4: Implementation
Once we have agreed on a strategy with you, you will be asked to sign an Authority to Proceed which authorises us to implement the plan. Essentially, we will put the plan into action and manage the process on your behalf.
This may involve guiding and assisting you with establishing platforms, making contributions to superannuation, rolling over superannuation benefits, commencing pensions and purchasing investments. Importantly, implementing the plan can take some time depending on the complexity of the plan, market volatility and cash flow restrictions.
The implementation process may require us to work closely with third party providers such as accountants and tax advisers, estate planning and insurance specialists, mortgage brokers and superannuation/pension funds.
Step 5: Review
Our ongoing review service ensures we continuously monitor your financial affairs to make sure you are on track to achieve your objectives. We will review your financial situation regularly so that we understand your evolving needs, ensure you are on the right path in regards to your retirement, review performance, explore new opportunities and identify emerging risks.
You can contact us whenever you have a question or problem and we will contact you if we see the need for any portfolio changes.
Our goal is make sure your finances are in good shape so you will have more time to focus on what is important to you.