As we drive to our destination, we get to hear prompts like ‘in 500 meters, turn left’ so we know where to go. Should we miss our exit or do an early turn, the Map app will recalculate our position and redirect us so we will not lose our way.
A financial plan works the very same way as the Maps app. It serves as our very own ‘roadmap’ to help navigate our journey towards our financial goals. A financial plan is tailored specifically for you and closely considers your personal situation so that the ‘plan’ is carefully built to help you achieve what you need. Should you encounter any roadblocks along the way, your financial plan will be flexible enough to be adjusted, so you can be sure you will be redirected to the most appropriate way.
So how do you get a financial plan made for you?
Getting your financial plan starts with your initial conversation with your financial planner. During the initial conversation, your financial planner will ask you a series of questions to help you understand and articulate your goals better. This ‘scoping’ conversation is a deep dive into your personal situation to ensure your financial planner understands your wants and needs so they can produce a financial plan that is suited to your unique situation.
Preparing for your chat with your financial planner
It is important to have an idea of what you want to achieve. This step is all about your financial planner uncovering and understanding you and vice versa. Having specific, measurable, attainable, realistic and time-based goals will help scope out what you do not need. Remember, the strength of your financial plan is dependent on what you and your financial planner have discussed. If you are feeling a bit overwhelmed or if you are having difficulties articulating what you need, your financial planner will be there to guide you throughout the conversation.
After a series of meetings and conversations, your financial planner will proceed with preparing your financial plan. They will carefully consider every aspect of your situation and consider a broad range of strategies to create a valuable and flexible financial plan that will place you in a better financial position. The creation of your financial plan will include detailed research, calculations, and series of technical reviews to ensure your plan is appropriate. Once your financial plan is ready, your financial planner will schedule a time with you to present a Statement of Advice (SOA). This document, among other financial advice disclosure obligations, aims to ensure that you as a client receive good quality advice and are able to make informed decisions. Your Financial Planner will carefully explain each aspect of the plan and making sure you understand every strategy provided.
Why should I pay money for a financial plan?
This is a usual question raised by clients and rightly so. After all, getting a financial plan written starts at $1,650 for a simple single strategy and averages at $3,300 for multiple, comprehensive strategies. We understand that this may represent a considerable financial cost to you. However, beyond the upfront cost, consider how valuable it is for you to achieve your future goals. Having a financial plan made specifically for you is about prioritising the long-term benefits and ensuring that the course of action that you will follow is suitable and sustainable to help achieve your goals.
As financial planners, we have an ethical and professional duty to ensure that the advice we provide will put you in a better position. Because of this, your Statement of Advice (SoA) is a document bound by strict government legislation. We ensure that all details and recommendations in the SoA is carefully considered and is acting on your best interests. Your SoA is constructed with the help of a dedicated research team of technical experts and is reviewed and audited by a compliance team to ensure accuracy and suitability of our recommendations.
Why choose Aspiram?
What sets us apart at Aspiram is the value that we assign to our relationship with you. We aim to provide you with value at every step, from the first time you approach us for a complimentary consultation (valued at $495) to when we have finalized and implemented your financial plan. With every interaction with us, we make sure you always leave with something of value. We have centred our business to build lasting relationships and ensure we are able to provide you with expert, transparent and trusted advice. As a boutique financial planning firm, we can provide you with the technical expertise and connections of a larger financial planning business while nurturing a direct and personalised relationship with you. We are good at what we do because we make it a point to get to know you well, so we are empowered to provide you with advice that is right for you.
Having a financial plan shows your strong commitment to your future. Despite upfront costs, your financial plan is tailored specifically for you. You get to receive the roadmap that you need to consider all aspects of the journey toward your financial goals. Your financial plan takes into careful consideration your personal situation and your desired financial goals to ensure you are provided with transparent and trusted advice that leaves you in a better position.
Take the first step to a better financial future.
Get in touch with us and book your free, no-obligation consultation (valued at $495) or call us at 02 9621 6111 and speak to an Aspiram Financial Planner today!
