Some people may think that financial planners only give advice on investments. This is not true. The role of a qualified professional financial planner is to look at all aspects of your lifestyle, goals and requirements and develop a financial strategy suitable for you.
Advice falls into two areas: general or personal.
Advice falls into two areas: general or personal.
General advice is advice on financial products that helps people make decisions about money but does not take personal circumstances into account.
Personal advice considers a person’s objectives, financial situation and needs. With this understanding, the financial planner can recommend appropriate strategies and, when required, appropriate financial products to suit individual needs and goals.
The 6 step process
The 6 step process
When developing a financial plan for you, known as a Statement of Advice (SOA), a financial planner will follow a structured process to help understand your needs and recommend an appropriate strategy. The six-step financial planning process is as follows:
1. Gather your financial information
2. Identify your goals
3. Identify financial issues
4. Prepare your financial plan (called a Statement of Advice)
5. Implement the recommendations based on your financial plan
6. Review and revise the plan at regular intervals, or when circumstances change.
To book an eye opening financial consultation, call Rashesh on 0404 000 668 or send email to info@fortunewealth.com.au and he will help you to achieve your gools sooner rather than later.
