The first part of the Financial Planning process involves meeting and having a conversation. We will discover what your individual needs are, we will take the time to discuss where you are now and what drives you. This conversation often does not involve finances as we are looking to understand your lifestyle goals and whats important to you.
We will also take the time to discuss who we are, what we do and how we may be able to help you. You will have the opportunity to ask any questions.
At the end of this meeting you will be able to go away have a think about it and decide if you would like to proceed to the next meeting.
In this meeting we will discuss your goals and objectives in more detail and breakdown your goals in to specific, measurable, achievable, relevant and time-bound (SMART) goals. We will also get confirmation on your current situation and ensure that we have all your information before proceeding to the next stage.
This step is crucial because it is the information we will use to prepare the advice and recommendations. We will do additional research on your specific products and policies to ensure we have everything correct before compiling your individual strategy.
After gathering all your personal and financial information we will develop strategies and recommendations tailored to your needs and objectives. This document is called a Statement of Advice and is designed to help you achieve your previously stated goals.
At the Statement of Advice presentation we will go through the details of your strategy in more detail and give you an opportunity to ask questions and make any changes.
Once you are comfortable with the strategy and recommendations, we will obtain agreement from you to implement the recommendations. This involves:
- You signing all the relevant paperwork to establish any new accounts required.
- The team at Lister Financial Services will then submit the applications, follow up on the progress and ensure that the applications are implemented as recommended in the Statement of Advice.
- The team at Lister Financial Services will also confirm the progress and provide regular updates to you along the way.
Regular reviews of your plan is a crucial part of you achieving your goals. At the reviews we will be able to incorporate any changes to your situation and legislation. This will ensure you are armed with the knowledge that no matter what happens you will be able to adapt your plan and strategy to ensure you remain on track to achieving your goals.