Taking the mystery out of financial planning
In this article we aim to take the mystery out of financial planning, and outline our approach and processes, as well as illustrate how a little bit of advice can make a world of difference, no matter your age or stage of life.
Wealth Fundamentals was established on our single-minded approach to helping our clients prepare for their financial future. Here we explore often-asked financial planning questions:
#1: What do I need to consider in my Financial Plan?
A financial plan is your personal blueprint for targeting your wants and goals whilst staying true to your values. Your personal financial plan is bespoke. Created just for you, your family and achieving your goals in future.
Two major areas within our financial planning strategies are:
#1: Helping our clients review and strengthen the fundamentals of their current financial position.
#2: Undertake regular reviews of their plan to assist them on their journey to creating financial independence.
Our business was established on the belief that creating financial independence starts with the fundamentals.? We have taken what can be a complex advice model, and broken it down to create seven easy to understand fundamentals.? Together they form a proven model which spans all of the key aspects of a sound and comprehensive financial plan.?
Our seven fundamentals:
1.?????? Income Plan
2.?????? Investment Plan
3.?????? Debt Management Plan
4.?????? Risk Plan
5.?????? Retirement Plan
6.?????? Aged Care Plan
7.?????? Estate Plan
Depending upon your individual circumstances and stage of life, each of the fundamentals may be applied differently or at different times, prioritising your needs for today, while retaining the strength of all seven to underpin a truly bespoke lifelong financial plan.
#2: What should I expect and how much does it cost?
We would never want clients to miss out on the advice they need because they are uncertain about the financial advice process or associated costs. It’s for this reason we have set out a clear process and cost structure for our clients.
Our Process:
Step 1: Discovery Meeting
Our first meeting is quite literally to discover what's important to you.? What motivates you and what you would like to achieve.? We also strive to understand what financial success means to you. Only then, when we understand your true goals, motivations and values can we begin to formulate a plan that will help you reach them.
领英推荐
Please note there is a first meeting fee of $220 GST inclusive. If you choose to proceed, we will provide you with an engagement letter outlining costs for our upfront advice and ongoing review service, designed to keep you on track to creating financial independence.
Your level of fees will depend on the complexity and level of service required to help achieve your goals.
Step 2: Building a foundation of financial fundamentals
From information collected at our first meeting and subsequent information gathered post the discovery meeting, we analyse your current situation against our wealth fundamentals to ensure a sound foundation is created for your journey to financial independence over the years ahead.
We consider strategies that can be implemented to strengthen your fundamentals and grow from this sound foundation.
Step 3: Financial strategies in action
The goal of this meeting is to clearly outline the specifics of our advice which includes what you need to do, when it should be done and who will need to assist you in the process. These details will be presented to you in a written ‘Statement of Advice’ document.? As part of the implementation process, we proactively engage with your other professional advisers, including your accountant and solicitor towards creating a seamless and integrated outcome. If you do not have an accountant or solicitor, we can refer you to qualified and experienced advisers.
Step 4: Value-add review
Your path to financial independence is not a static journey,?your plan needs to be reviewed regularly to determine relevance to your ever-changing needs and circumstances.
#3: What about commissions and ownership
Wealth Fundamentals is a privately owned business and not affiliated with any bank or insurance company. Our advice is given in your best interests.
Our fees are mutually agreed between our advisers and clients and are not dependent on product sales.
Case Studies: Financial leadership in action...
Our financial leadership assists young professionals, pre-retirees and retirees to implement sustainable strategies designed to create financial independence throughout your life.
Here we share some case studies of our financial leadership in action. Please take a moment now to click on the links below...
If you would like to know more about financial strategies that help create financial independence, I encourage you to contact us now on 07 3720 1299 or email [email protected]
Lane Moses Pty Ltd ABN 56 092 186 117 trading as Wealth Fundamentals and its advisers are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306.
This is general advice only and does not take into account your objectives, financial situation or needs, so you should consider whether the advice is relevant to your personal circumstances. You should also read the relevant Product Disclosure Statements (PDS) before making any financial decisions.
This publication cannot be reproduced in any form without the express written consent of the author.