To see a financial planner, contact our office to arrange a time and to discuss what preparation you may want to do. Contact details are on our “Contact Us” page here.
In the meanwhile, you could start the process by putting down in writing an overview of your current details, financial position, aims and preferences. When contacting our office to make an appointment, simply ask and we will send you a Personal Financial Profile electronically or in the form of a paper booklet. Completing this personal financial profile document will help you work through key areas of your overall financial planning information, and help highlight points to discuss with your planner.
Start planning – it’s not all maths and money!
In fact, money and maths are the end point of planning. Our experience suggests that a large part of your initial work with a financial planner will be to clarify your true current position and agree on specific longer term goals. Once these points are highlighted, work can begin on the various strategies which may be appropriate to help you achieve those goals.
Start planning – have you started a budget?
If you would like to start working on your personal financial budget to clarify your current financial position, there are numerous online calculators available – although some are easier to use than others. Moneysmart – a government website operated by the Australian Securities & Investments Commission (“ASIC”) includes basic budget tools to get you started. Alternatively, a simple monthly budget planner is included in the link below:
If you have a concern, let us know
If you find the idea of speaking with a financial planner intimidating, you are not alone. Many people feel this way, as only one in five Australians actually use the services of a financial planner – so you may find it helpful to work your way through the relevant pages of the Moneysmart website or that of the Financial Planning Association of Australia.
Before completing any research or providing advice, your planner will ask you to sign an “Letter of Engagement” to confirms the basics of the advice being sought, along with the relevant fee. A sample of the Letter of Engagement is shown below:
An example of our fees
If you are worried about costs, raise this issue when you speak with your financial planner. They will take you through their fees, and any costs you are likely to incur with strategies that may be appropriate to your situation. Open and clear communication are the best avenues of making sure any financial planning fees are being spent wisely. Basic information on WSP’s fees and costs can be found here. Please remember that our fees are tailored to your needs, so any figures noted on this website are indicative only. Your adviser will confirm any potential fees or costs following your initial consultation.
Your financial planning advice and services fee will depend upon the amount and type of work that we do for you. To help you formulate questions for when you see a financial planner, we have set out below an example of how fees are calculated.
OK. The next step is up to you!
Thank you for considering our business, and should you decide to engage our services, we look forward to helping you work towards achieving your financial aspirations for wealth and security planning.