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The
Value Of Financial Planning
Financial
planning is about establishing a long-term strategy to secure
your financial future with the lifestyle and living standards
you desire.
The
sooner you start thinking and working towards your financial future,
the better prepared you will be in realising your objectives.
Financial planning is relevant for people from all walks of life
and all income levels.
Compulsory
superannuation introduced by the Federal Government demonstrates
that Australians will be required to plan and take responsibility
for their own financial well-being, especially in retirement and
not rely on social security to look after them.
A
formal financial plan will help achieve your financial objectives
whether they be wealth creation, retirement planning or estate
planning. Financial planning is an ongoing process, requiring
regular reviews so as to plan for your needs as your situation
changes.
Investment
choices, portfolio administration and performance monitoring are
very complex tasks that most of us cannot possibly keep up with.
Just understanding the changing tax laws and social security regulations
and their impact on your financial situation, is a time-consuming
and complex task.
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Many
people expect to live to a greater age than their parents
or grandparents and to enjoy a standard of living not previously
considered achievable.
In practice, this will be possible only if they have arranged
their affairs so that they will be financially independent
and able to afford not only their desired lifestyle, but
also the cost of suitable care if health problems arise.
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A
professional financial adviser has the knowledge and expertise
to help you plan for your goals, manage your investments and review
their progress. The financial adviser will take many aspects into
consideration, such as your lifestyle objectives, investment risk
comfort levels and tax situation to help develop the most appropriate
plan for you.
A
financial adviser will develop an individualised investment strategy
that will account for all of these considerations, help you access
a range of managers and investment products across such asset
classes as equities (Australian and international), property and
cash or bonds to supply a diversified portfolio.
Diversity
is important to reduce the risk of any one manager or investment
under-performing, whilst optimising the opportunity of your total
portfolio meeting your expectations.
A
financial adviser will regularly review your portfolio and make
the agreed changes to best suit your present situation and your
long-term goals.
An
important feature is their ability to supply consolidated reporting
for your total portfolio, its specific investment components and
your tax position.
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The
4 Key Steps in the Investment Process
| 1
establish your goals |
2
design a strategy |
 Our
initial meetings with you are to understand your objectives
and to establish goals. |
 By
using the Strategic Lifetime Model we can design a plan to
meet your specific objectives. |
| 3
implementation |
4
monitoring |
 A
portfolio designed specifically for you. |
 Portfolio
monitors and reviewing changes occuring over your lifetime
are critical to ensure you achieve your goals. |
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Our
Approach
Our
advice is based on extensive research and a soundly based investment
philosophy. We recognise the importance of maintaining a global
investment perspective and NOT blindly trusting past performance.
Getting
to know what you want to achieve is critical. Once we agree on
a plan of action, we help you implement the plan and keep it current.
We provide you with your Financial Organisers, which together
we keep updated with documents such as strategy and investment
reports, copies of wills, insurance policies and other relevant
documents.
- Do
We Work With Your Other Professional Contacts?
Absolutely!
A financial planner does not replace your solicitor or accountant.
Instead we work with them to achieve your goals. We don't prepare
your tax returns, but we help you plan the best overall tax strategy
and take the initiative to bring to your attention ideas that
help you achieve your financial objectives. We don't write your
will, but we work with your solicitor to protect your estate and
ensure financial security for your dependents.
The
essence of good financial planning is to coordinate the assistance
available to bring all financial information together, in a comprehensive
plan, which can be implemented in a sensible and structured manner.
- How
Much Time Will We Need To Look After You?
We
regularly review your strategy, meeting formally once or twice
a year (more regularly if required), to discuss progress and any
changes to your goals or circumstances. You are welcome to initiate
meetings at any time.
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Ongoing
Reviews
Why
Is An Ongoing Service Needed?
- To
help you manage and take advantage of change!
The value we bring to the relationship is our ability to guide
you effectively through legislative, investment market and personal
changes.
- Legislative
and Taxation Changes
Since 1990 there have been over 50 legislative changes relevant
to investment, with more to come.
- Superannuation
Changes
Since 1980 there have been over 200 changes to superannuation.
- Social
Security Changes
Social Security is a constantly changing area.
- Investment
Market Changes
Deregulation of the financial markets created many changes.
- Personal
Changes
As a result of living longer, changing lifestyles and major
restructuring, personal changes may encompass the following:
-more frequent change of employment
-part time consulting
-eligibility for age pension
-early retirement
-redundancy
-estate planning
-family changes
-lifestyle
-inheritance
How
Does This Service Benefit You?
Lifetime
Financial Management's Strategic Ongoing Service Program keeps
you:
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involved |
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in
control |
- It
keeps you financially well organised
- It
enables you to develop a long term
strategy
- It
simplifies your financial
affairs, providing clear focus
- It
presents you with understandable information
- It
saves your valuable time
enabling you to achieve a balanced
lifestyle
- You
will receive superior personal attention
- Trust
and confidence are fostered, providing reassurance
and peace of mind
- You
are encouraged and able
to call us at any time
- We
initiate regular contacts
during the year
- We
offer home or office
consultations
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about
us