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When meeting with a financial adviser there’s some procedures to help your financial adviser adequately assess your financial position and identify your goals.

Step 1 - Attend first meeting with adviser

During your first meeting your financial adviser will gain an understanding of your present financial position, your objectives and needs.

You can expect your adviser to:

• ask questions to gain a better understanding of your personal and financial goals
• understand what you expect and want to achieve through their financial advice
• tell you about the services they provide
• explain the fees and charges that apply
• inform you of their relationship with other entities.

 

Once your financial adviser has a good understanding of your goals and financial situation, they can put together an achievable financial plan.

 

Step 2 - Receive Statement of Advice

After your initial meeting your financial adviser will give you a Statement of Advice, which explains your situation and your financial adviser’s recommendations. This document details any applicable fees and charges.

 

Step 3 - Put your plan into action

Your financial adviser will help you implement the plan, purchase recommended products, assist with ongoing administration and provide you with updates and reports.

 

Step 4 - Review your progress

It's important to regularly review your plan and make any necessary adjustments. How often you see your financial adviser depends on your needs. During your reviews your financial adviser will track your investments, review your progress and inform you of any new opportunities.