BSB 805 050

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BSB 805 050

The Financial Planning Process

Achieving success in your Financial Planning does not happen by accident… There are key steps which need to be followed to ensure you’re on the right track

The great thing about seeing one of our Financial Planners is that the first consultation is complimentary and without obligation. This initial meeting with your Financial Planner is designed so you can get a feel for what the process means to you, how a Financial Planner may be able to assist you and provide you with an estimate of what the process may cost should you choose to proceed.

From there, your Financial Planner will follow the below steps to help you succeed:

Step 1: Defining your current situation
Everyone has different financial resources, lifestyle needs and personal aspirations.
Your Financial Planner firstly spends time getting to know you and establishing what resources you currently have available to you.
You then work together to determine your individual needs and goals for the short, medium and long term and your Financial Planner will assist you in both quantifying and prioritising each of these defined goals.
Through goal setting, your Financial Planner constructs a ‘road map’ of where you’re heading in life and all the stops you want to take along the way.

Step 2: Develop strategies
Having helped you to define your future goals, your Financial Planner will then investigate and assess the strategies which are relevant to you, giving due consideration to such things as: budgeting, maximising your cash flow, minimising taxation, investments (both superannuation and non-superannuation), insurances to protect your lifestyle, family and financial assets, and estate planning needs.
At the conclusion of this process your Financial Planner will present personalised recommendations for your consideration and review in the form of a Statement of Advice.

Step 3: Implementing your plan
Your Financial Planner will take the time to explain the options available to you, focusing on how they could impact on your ability to achieve your documented goals.
Once you’ve agreed on the appropriate course of action, your Financial Planner and their support team will work together to ensure all aspects of your plan are properly implemented in the way you have chosen.

Step 4: Ongoing review
Every financial plan, no matter how carefully structured, is vulnerable to the effects of change over time.
Changes to your personal circumstances, legislation, Centrelink benefits and taxation laws, as well as changes to the financial markets, all affect your financial plan and its ability to achieve your defined goals.
Your Financial Planner can offer you a review service whereby your goals and priorities are revisited in light of any changing circumstances, and make any required adjustments to your strategies or investments to ensure you remain on track.
Of course, you’re able to make contact with your Financial Planner or their support team outside of these scheduled reviews should you need assistance or guidance in the interim.

You can enquire about our Financial Planning Process online, over the phone by calling 1300 132 982  or by visiting your nearest branch.

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Please call us on 1300 132 982 from 9am - 5pm, Mon – Fri (ACDT) to arrange for a Financial Planner to contact you. Alternatively you can enquire online.

*Response timeframes based on same business day if before 3pm otherwise next business day.

The information on this page is not intended to constitute financial advice.  For full details of the Financial Planning services we offer please refer to our Financial Planning Financial Services Guide (FSG), available from us. You should consider the Product Disclosure Statement (PDS) for the product before deciding whether to acquire it. The PDS is available from us. Any financial product advice on this page has been prepared without taking account of your objectives, financial situation or needs, so before acting on it you should consider the appropriateness of it having regard to those matters. People’s Choice Credit Union is a trading name of Australian Central Credit Union Ltd ABN 11 087 651 125 AFSL 244310. In Western Australia, our Financial Planning services are provided through Financial Solutions Australasia Pty Ltd ABN 36 008 939 599 AFSL 244308 (Financial Solutions), a wholly owned subsidiary of People’s Choice. Financial Solutions is not an authorised deposit-taking institution and its obligations do not constitute deposits in or liabilities of People’s Choice and are not guaranteed by People’s Choice.

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