Comprehensive Advice Process

PROCESS

    • ‘Getting to Know You’ session (Goal setting and discovering your values)

    • Discovery - get to know each other and decide if we’d like to work together.

    • Complete personal risk pre-assessment questions.

    • Discuss our Services Guide.

    • $550 inc. payable at end of meeting

    • If proceeding - sign Initial Advice Agreement.

    • Discuss your present situation and improvements that can be implemented.

    • Discuss recommended strategies and likely outcomes.

    • Ensure you understand the investment concepts and proposed strategies.

    • Sign Terms of Engagement letter.

    • $2200 inc. payable at end of meeting to proceed with research and analysis of current situation by Sound Life.

    • Answer any remaining questions and ensure you’re comfortable with your plan.

    • Finalise financial plan.

    • Sign documentation to implement.

    • $1100inc payable at end of strategy meeting for Sound Life to prepare Statement of Advice outlining your future financial plan.

    • Costs to be determined to implement the advice.

    • Options available for fees to be paid from personal cash flow or from recommended products.

    • Support and liaise as needed

    • Minimum ongoing service fee $5150 pa.

ADVISER ACTIONS

    • Research and analyse current personal situation including assets/liabilities, income, insurances, estate plan etc (contact product providers on your behalf).

    • Formulate, stress-test and optimise available strategies.

    • Initiate confidential analysis of underwriters to source potential insurance providers and get quotes.

    • Determine appropriate providers for wealth creation and wealth protection.

    • Finalise investment portfolio to suit outcomes and risk profile.

    • Liaise with other legal/tax professionals if necessary.

    • Fine-tune and document recommendations.

    • Prepare relevant applications and documentation.

    • Ensure plan is implemented correctly:

    • Establish accounts/policies.

    • Co-ordinate rollovers/contributions.

    • Liaise with all product providers.

    • Activate underwriting process if necessary.

    • Purchase required investments.

    • Liaise with insurers to get best possible terms.

    • Confirm and communicate final terms of insurance cover.

    • Cancel any superseded products when replacements are finalised.

    • Schedule ongoing management of your plan.

CLIENT ACTIONS

    • Send through additional information as requested.

    • Do requested “homework” to understand financial and risk protection concepts.

    • Do any additional “homework” to understand recommended strategies.

    • Complete any requested underwriting requirements as quickly as possible.

    • Liaise with third parties as requested (e.g. employer, Centrelink).

    • Ie. commit to ongoing progress meetings