What to expect
At your first appointment with a Bridges financial planner, your planner will discuss with you your financial and lifestyles goals and your personal situations.
Depending on the level of service you require, your financial planner may ask questions about your income, expenses, investments, other assets, liabilities, insurance arrangements and superannuation. This information will help your financial planner in formulating appropriate strategies.
What to bring to your first appointment
To help your Bridges financial planner provide you with advice relevant to your circumstances, take along information about your current personal financial circumstances including:
- Total income – wages, salary, interest, rental income and dividends
- Assets - list your current investments eg property and/or shares etc
- Liabilities – your mortgage, credit card debts and other loans
- Insurance policies – life insurance, total and permanent disability insurance, trauma insurance, income protection insurance
- Living expenses – food, clothing, general expenses and holidays
- Superannuation funds
Importantly you need to have a think about your future plans and how much you are aiming to accumulate and what major expenses may be coming up, for example your child’s education, a holiday house or investment property.
After your Bridges financial planner has gathered the required information at your first meeting, they will make an appointment for a second meeting to present their recommendations and discuss your options.
Reviewing and implementing
At the second meeting, your Bridges financial planner will present you with the recommended strategies that may assist you in achieving your financial objectives. All relevant information you should consider before making a decision is presented in a document referred to as the Statement of Advice.
Following the discussion of the Statement of Advice, you can decide whether you would like to implement the strategies.
What does a Statement of Advice contain?
A Statement of Advice contains information about:
- Details of your personal financial situation and objectives
- Your financial planner’s strategies and recommendations as to how you can achieve your goals which may include:
- Investment strategy
- Asset allocation
- Social security issues
- Estate planning and insurance needs
- Ongoing financial advice needs
- Initial and ongoing fees
- Additional information such as projections and graphs
- The reasons and basis of the recommended strategies, as well as any advantages and disadvantages of the strategies
- The fees and charges become payable should you choose to proceed with the advice
- Other relevant information such as disclosures, disclaimers and warnings you should be aware of before you make a decision
When you are comfortable with the strategy your Bridges financial planner has recommended, it's time to set the plan in motion.
Your Bridges financial planner will help you prepare the paperwork necessary to implement the strategies, and then lodge them on your behalf with the appropriate organisations.
Financial planning is not a set and forget process. You need to review your financial plan periodically to make sure it remains appropriate to your changing circumstances and needs. Some external factors may also change the basis of advice therefore warrant an adjustment in your strategy.
Make an appointment with a Bridges financial planner.