Comprehensive Advice Process
PROCESS
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‘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.
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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.
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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.
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Support and liaise as needed
Minimum ongoing service fee $5150 pa.
ADVISER ACTIONS
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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.
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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.
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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Cancel any superseded products when replacements are finalised.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
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Send through additional information as requested.
Do requested “homework” to understand financial and risk protection concepts.
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Do any additional “homework” to understand recommended strategies.
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Complete any requested underwriting requirements as quickly as possible.
Liaise with third parties as requested (e.g. employer, Centrelink).
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Ie. commit to ongoing progress meetings