Our 6-Step Financial Advice Process
Financial planning is important, but it can be confusing and overwhelming. Our 6-step process focuses on providing you with financial clarity and direction so that you can have peace of mind.We help you create, implement, and maintain a financial plan that meets your lifestyle and financial goals. We also focus on giving you the tools and knowledge you need to make informed financial decisions. With our help and our 6-step financial advice process, you can be confident that you are prepared for life’s unexpected eventualities and have robust structures in place to weather the storm.
Financial planning is not only for the wealthy. It’s for anyone who wants to get the most out of their money and secure their financial future. We all have financial goals, whether it’s saving for a rainy day, buying a home, or sending our kids to college. And financial planning is the process of creating a roadmap to help you achieve your financial goals.
There are a lot of different pieces to the financial planning puzzle, from investment strategies to retirement planning. With our 6-step financial advice process, we are here to help you figure out what pieces you need and how they all fit together. We take the time to get to know you and your unique financial situation so that we can tailor our advice specifically for you. And we’re always here to answer your questions and help you stay on track.
Our 6-step financial advice process is explained below:
Introductory Meeting
- At the onset of our introductory meeting, I would like to take a few steps back and learn a bit about you and my background, your career/business, dreams, and goals.
- We can help form goals through our magic wand list and learn what you would like us to do for you.
- We identify any advisory areas or issues that could be addressed.
- Run through the Wealth Factory Corporate Profile to learn who we are, how we operate, and what to expect from us.
- Explain and agree to our fee structures, services, and scope of advice to be provided.
- If – and only if – I believe that we can add some value and we can have a relationship, I will invite you to become a client of Wealth Factory.
- Agree to sign a term of engagement agreement (or part ways as friends).
- Schedule the Pre-Production Meeting tentatively.
Pre-Production Meeting
- Complete an information gathering exercise (fact finder).
- Discuss any specific issues or ideas you would like us to consider.
- Examine the budget planner.
- Determine your investor’s ‘risk profile’.
- Identify the immediate ways we can help (quick wins).
- Discuss broad options and possible strategies.
- Agree on broad strategy options.
- Clarify any final details.
- Make a tentative booking for the ‘Wealth Plan Presentation’ meeting.
Wealth Plan Production
- Send away the authorities to product providers to obtain up-to-date information.
- Complete research and analysis of potential strategies.
- Comprehensive product research and comparisons.
- Finalise recommendations.
- Document advice in a “Statement of Advice.”
- Obtain licensee approval on recommendations and advice.
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Wealth Plan Presentation
- Get clear on any changes or anything you need to know.
- Make strategy recommendations (explain and educate)
- Focus on how strategy will achieve desired outcomes.
- Determine the outcomes (benefits and drawbacks).
- Clarify any details or questions.
- Give authority to proceed (or make any slight adjustments)
- Completing required paperwork or filling out forms
- Identify any follow-up requirements.
Wealth Plan Implementation
- Clarify any details or questions.
- Give authority to proceed (or make any slight adjustments)
- Completing required paperwork or filling out forms
- Identify any follow-up requirements.
Wealth Plan Maintenance and Review
- Go through and update your situation from the last time we saw each other (pre-review ‘fact find’).
- Detailed “Discussion of Investment Holdings” & market overview
- Identify the immediate ways we can help (quick wins!)
- Agree on broad strategy options.
Get in contact to learn how we can help
You deserve to enjoy the comfort of knowing you have help if you need it. With our developing strategies, you’ll have the peace of mind that comes with knowing that we’ve got you covered.
Book a meeting to discuss the benefits of partnering with Wealth Factory.
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