STEP 1 INITIAL INTERVIEW UNDERSTANDING YOU AND YOUR GOALS
To enable us to tailor the right financial solution to you and a personal financial plan, it is important that we understand you and your goals. This involves understanding where you are currently at, where you want to be and when you want to be there. Some of the information we will gather in this first step include:
- Why you are seeking finaical services and what you want to achieve
- Your personal details, including whether you have a family to support
- Your aspirations and aims now and in the future
- Your lifestyle goals, for example home ownership, retirement plans, holidays, private schooling for your kids, supporting charities or a special cause.
UNDERSTANDING YOUR CURRENT FINANCIAL SITUATION The next step is to understand your current financial situation including:
STEP 2 IDENTIFY OPPORTUNITIES
The information is review by our senior strategy panel that looks at your situation from each aspect and every discipline within the financial services spectrum. After considering all the relevant information regarding your needs, objectives and current financial situation, step two involves identifying financial gaps between your goals and the outcomes you can expect to achieve using appropriate wealth and protection strategies. We will also identify any opportunities that if worked into your plan may address these gaps and help you achieve your goals.
Working with Wealthrite also brings you our guarantee:
If we cannot assist you, you pay nothing!
On the other hand, a large majority of clients can see where we add value and benefit to their holistic financial wealth and choose to partner with the experts. Some of the things we may consider include:
- What level of investment and timeframe you need to ensure your savings grow in line with your risk profile.
- How you can pay off your home loan 10X faster than your neighbour, without increasing your payments.
- What level of insurance you require to protect your assets and your income
- What tax strategies could be used to accumulate wealth faster such as SMSF, Salary Sacrifice, Negative Gearing, Trusts and Company Structures
- Whether you require gearing to accumulate wealth faster?
- How you can rescue your Superannuation and de-risk downside exposure
- Whether or not property Investment is a valid strategy for you?
STEP 3 PREPARE AND PRESENT STRATEGIES AND EDUCATION SESSION
Now that we have the knowledge of your financial goals and objectives, risk profile and financial situation your Wealthrite Financial Adviser will apply their expertise in developing your tailored financial plan. Your financial advisor is supported by a network panel of experts in areas such as research and technical, finance, legal, superannuation, insurance and investments (including property). This network panel ensures we develop a set of recommendations to suit your goals, objectives and risk tolerance.
Once we have prepared your financial strategy, we will present it to you at the office education session, explaining our recommendations and strategies and discuss your personal requirements.
By the end of this step it is essential you are completely satisfied with our recommendations and you feel that the recommendations are the appropriate solution for you. At this point we also confirm and outline all fees and costs associated with your personalised strtaegy.
(Don’t be too concerned about this just yet, as we are a Fee For Service we have standard prices for all our services. Every aspect of your plan will be itemised and in most cases we find your super fund or selected financial product providers can cover the majority of our service fee. Your options will be explained and outlined in details prior to your commitment to proceed)
It is at this point that you decide if our service is right for you!
With your agreement and authorisation Wealthrite will than prepare your Statement of Advice (SOA) which is a thorough document explaining all of your strategies in detail.
STEP 4 IMPLEMENT YOUR FINANCIAL PLAN – TAKING CONTROL OF YOUR FUTURE
At a convenient date, typically within a week of your recommendation and education session you will be required to return to the office for the Presentation of you SOA and the implementation process. With your approval and assistance we will:
- Present your financial plan and explain all of the strategies.
- Go about implementing your plan ensuring that the appropriate structures are in place
- Ensure the right investments are held in the right structures
- Complete all required documentation and applications
- Ensure the administration and custody of your assets is set-up
- Assist in the selection and acquisition of Assets
STEP 5 MONITOR & ONGOING REVIEW
To ensure your strategy remains up-to-date and in line with your needs and objectives and market condition we insist on continually monitoring your plan. We conduct a face to face review with you at least once a year however, by taking advantage of one of our ongoing service packages, we can maximize your strategy’s results by continually mentoring:
- The performance of the investments in your portfolio
- Trend analysis on your portfolio with current and impending economic and market conditions.
- Product innovation
- Legislative and regulatory changes
- Any changes in your personal circumstances
- Asset review and additional capital deployment and protection with new assets
With Wealthrite’s premium client service package options many of our systems will automatically trigger new investment opportunities based on your existing portfolio’s equity growth. This allows you to purchase your next investment sooner and achieve your financial goals as quickly as possible. No opportunity is lost by unnecessarily sitting on the sideline waiting for next year’s annual review.
Our Wealthirte philosophy is simple: We understand we achieve our goals by assisting you achieve yours. Our whole-of-life approach is designed to assist you maintain your plan and achieve or exceed your financial goals through each stage of life right through into retirement.
Take action today to evaluate your options with securing your financial future. The most you need to risk is an hour of your time!