Lifestyle
How we work with you
We are guided by the process that the global Financial Planning Standards Board (FPSB) has set out for Certified Financial Planners.
Complete transparency
The Financial Planning Standards Board defines financial planning as a process of developing strategies to help people manage their financial affairs to meet life goals.
By working on a fee basis, we keep all steps transparent – we are not driven by the hidden commissions or incentives that would compromise our belief in truly independent advice.
Five key steps
01
Initial consultation
An initial consultation involves meeting with you to discuss your personal situation and your aspirations, and to identify the main issues you face and your priorities.
02
Letter of Engagement
Following the meeting, we will outline the scope of any further advice, typically a financial plan, in a Letter of Engagement for your agreement before proceeding. The Letter of Engagement will include an estimated cost.
03
Planning Advice
In preparing your plan, we will:
- Assess your financial position
- Address your objectives and goals
- Provide strategies and recommendations
Our advice is tailored to your circumstances, and may cover areas of risk, retirement planning, investment planning, tax and estate planning issues.
We will meet with you to present and discuss the plan as well as finalise the action points.
04
Implementation
In the plan, we will identify what action is required and who is responsible for implementing the recommendations. This stage may involve other parties including your lawyer, accountant, insurance broker, banker or mortgage broker. Our ability to co-ordinate the parties is a useful part of our service.
The recommendations that relate to your investment strategy will be actioned by Stuart Carlyon and will typically involve setting up a portfolio account for the money you have available to invest. Any commissions, if any, are rebated to you.
05
Ongoing review
For clients with money to invest, our Investment Management Service will manage, and monitor your investments and will report to you on a regular review basis. These points of regular contact provide an opportunity to consider any adjustments due to changes in your circumstances, changes in the legal, taxation or investment landscape.
For clients building their wealth, we recommend a regular review of your financial situation to keep you on track to achieving your goals. This can be on a consultation basis at your behest.
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What can I expect to pay?
Our hourly rate is $400 plus GST.
Initial consultation
Allow an hour for this important first step.
Advice including plans/strategies
Financial plans reflect the scope of our advice required and the complexity of your situation. We will provide the plan fee estimate in an engagement letter after that first meeting.
Implementation
Depending on the recommendations made in the plan, implementation will be carried out by various parties including your lawyer, your accountant, your insurance broker, or banker. As your financial adviser we can liaise with any party on your behalf. We implement the investment part of your Plan.
Investment Management Service
For clients with a portfolio, we charge a retainer fee which covers investment monitoring, administration and reporting; general financial advisory services; and liaising with other professionals such as accountants and solicitors. A review of your overall financial situation is included in this retainer. The cost is usually expressed as a percentage of funds under management but is scaled to reflect time engaged. It includes the cost of the custodian who holds your money in trust. The retainer fee is paid from your portfolio account monthly and is fully tax deductible.
Ongoing Advice and Reviews
If you are not subscribed to our Investment Management Service, we charge on a consultation basis when you require a review.