Your first meeting

What information will you need to bring to your first meeting?

At your first meeting, your financial adviser will ask you about you – about where you are now, about your expectations, about how you would like to live your life. They will ask you about your personal circumstances and help you to determine your attitude towards risk. Your attitude to risk means whether you are conservative in the way you invest, aggressive or somewhere in between.

Don’t be surprised when your financial adviser asks for detailed personal information; they need it to put together your financial plan. This means that they will ask things like your:

• age
• current personal income
• family income
• future income (inheritances included)
• day-to-day expenses
• your family circumstances (number and health of dependants, dependants from previous relationships)
• future expenses
• assets and liabilities
• tax paid and tax owed
• super and insurance situation
• current investments
• state of health

You will also need to have considered your goals and current financial position. Your financial planner will ask you things like:

• when you want to retire
• how you want to educate your children
• whether a second home, like a holiday house, is important to you
• do you have dependents you need to provide for if you are unable to work or if the unforeseen happens
• whether you have an up-to-date will
• whether you are expecting any large expenses.

Click here to download a checklist of some of the most relevant documentation that you should bring to your first financial consultation. For more information speak to your adviser.

What will you receive?

Your financial adviser will give you:

• A Financial Services Guide, which outlines who the planner is, what they can advise on and how they are paid.
• A written Statement of Advice that outlines the relevant information that you have provided, the advice you have been given, why the advice is suitable for you and how the financial planner gets paid and any other benefits they may receive.
• A Product Disclosure Statement – if your financial planner recommends a financial product. The Product Disclosure Statement gives you information about the product features, fees that apply, any adviser commission, benefits and risks of investing and what to do if you have a complaint.

If you are ready to start your financial planning journey, contact us today on (03) 9863 8306.