Before you meet with financial planners for the first time, you need to be prepared so we can get a clear picture of where you’re at today and where you want to be in the future.
What to prepare?
- Income: salary, dividends, investment interest, investment property income and any other income
- Taxes: how much tax do you pay
- Expenses: everyday living and irregular expenses and planned expenses
- Debts: credit card balances, loans, mortgages and any other debts
- Insurances: what are you covered for and for how much (inside or outside super)
- Superannuation: number of funds and current super balance
What to bring?
- Current and projected income
- Existing investments and their balance
- Superannuation statements and insurance policies
- Outline of your assets and liabilities
What are your goals?
- Pay off your mortgage faster
- Protect your wealth and family
- Build wealth and plan for retirement
- Reduce tax position
Think about your goals and priorities. What sort of advice are you seeking? This will help the team at LFA to understand how to tailor a financial plan that suits your needs.
What Happens Next?
After we assess your risk tolerance we give you access to a wide range of investment options and establish an investment review approach that’s in line with your strategy.
Our six step financial planning process is simple, cost-effective and all about creating value.
- Step 1 – Gather financial data
So we can fully understand your current financial situation, we gather as much information as possible including details on your income, debt level and other commitments.
- Step 2 – Identify your goals
Make sure you clearly define your needs and goals at your first meeting with a financial adviser.
- Step 3 – Identify any financial issues
By considering your current financial situation and understanding your goals, a financial adviser will identify any deficiencies between where you are now and where you want to be.
- Step 4 – Preparing your financial plan
Your financial adviser will identify and compare recommended investments and address your attitude to risk.
- Step 5 – Implementing your financial plan
When you’re ready to implement your plan, a financial adviser will show you how to put your plan into action.
- Step 6 – Reviewing and revising your plan
For most people, their financial plan is the start of a long-term relationship with their financial adviser. To ensure your plan stays up-to-date and relevant to the economic climate and your changing lifestyle and goals, you should:
- review it annually
- keep an eye on your investments
- review the advice with your adviser if major changes occur in your circumstances
To talk to our friendly financial planners Gold Coast team about how we can help,