OUR PROCESS
Advice Process
At Empire SMSF Adviser we provide you with the information and advice needed to help you take control of your financial future.
We undertake the following process to ensure we get to know you and your circumstances and that you understand what advice is being provided and what needs to be actioned:
- Initial Consultation
- Preparing your Financial Plan (Statement of Advice)
- Presentation of your Statement of Advice
- Implementing Advice
- Reviewing your plan
Initial Consultation
The first step of any meeting is to find out where you are now, and where you would like to be in the future. The amount of information you provide at the Fact Finding meeting will determine the scope of our advice. Your goals and any financial issues you may have will be identified and discussed. At this interview costs for the advice will also be discussed, as will any on-going service fees. A client service agreement will then be discussed and agreed on and this will be signed at the time of presentation of the advice. This way both parties will be clear on the subject matter of advice, the costs of the advice itself and any on-going costs applicable. This allows you to make an informed decision.
You will also be provided with a Financial Services Guide at this meeting, this outlines who your adviser is, and who your adviser works for. It also outlines other important information you need to be aware of.
What to Bring to Your First Meeting
Depending on what advice you require, please ensure you bring:
- Any superannuation or insurance statements that may be relevant.
- Your last two pay slips.
- Copies of any share holdings or managed funds, or any other financial investments.
- Basic Assets and Liabilities.
- Information about your earnings and/or 2 years tax returns.
- A working budget if you have one.
Please also think about your short and long term financial objectives. For example, how much do you want to retire on? when do you want to retire? any big purchases you need to pay for, and savings goals or debts you want to pay off.
Preparing Your Financial Plan
The second step is for your personal adviser to formulate the strategy and construct a personalised statement of advice based on the information gathered at our first meeting. Your adviser will research products, options and strategies available to you to help you met your financial goals and objectives. This information is then put together in a written document called a Statement of Advice (SOA), which specifically details the advice we are providing to you, as well as the costs.
Presentation of Your Statement of Advice
The third step is to meet with you again and present your personalised Statement of Advice with our recommendations. At this stage we have a long discussion regarding our recommendations and you have the opportunity to ask as many questions as you like to ensure you fully understand and are happy to proceed. You are also presented with all of the necessary documentation to action our recommendations.
Implementing Advice
The fourth step is implementation of the advice. This is where our expert staff take control and ensure the implementation of all of our recommendations to ensure an efficient process and execution, all the while keeping you up to date at each stage.
Reviewing Your Plan
The fifth step is the review process; this is an ongoing adviser/client relationship that is agreed upon at the time of signing the Statement of Advice. This is basically the ongoing mentor relationship between client and adviser to ensure you stay on track. Although a meeting schedule is confirmed at SOA presentation, your Adviser is always available to discuss any concerns you have at any time.
USEFUL RESOURCES
We have developed an extensive collection of guide series for clients. They comprise a unique collection of financial planning and accounting materials for any one interested in managing their finances as effectively and efficiently as possible.