SUPERANNUATION

Preparing for your appointment

 

At HUB Financial Advice, our advisers are specialists and will assist you through the simple process to assist you to identify your goals and objectives, to ensure you are adequately protected and implement a strategy tailored to your goals.

 

 

What to bring

To ensure your appointment goes as quickly and smoothly as possible, it’s best to come equipped with some basic information to assist with the Fact Find.

We’d suggest you bring along, or at least have a good idea of, the following information:

  • Your individual and family earnings

  • Your current mortgage and other debts

  • Details of significant investments such as shares, properties and term deposits

  • Details of your superannuation fund(s), including insurance held within the fund(s)

  • Any other personal insurance, including life, disability and trauma insurance

  • An outline of your medical and health history

 

It is important that you understand the financial planning process and below we outline these steps to you;

Step 1 – Getting to Know you

The first step of the financial planning process is to understand you, your current personal and financial position and what goals and objectives you wish to achieve. This process includes;

  • Initial consultation to discuss your current personal and financial situation.

  • Understanding your future goals and objectives.

  • Understanding your timeframes in achieving these goals and objectives.

  • Understanding your attitude to risk/return for investment purposes.

  • Obtain any relevant financial documents you currently have as part of our review.

Step 2 – Reviewing your Current Financial Position

Once we have completed the first consultation, we will then conduct a full review of your current financial position. This part of the financial planning process is important as we need to understand your current position before providing any strategic advice to you. This includes;

  • Review of your cash flow position.

  • Review of your assets and liabilities (property, investments and associated loans)

  • Review of your superannuation.

  • Review of your investment portfolio.

  • Review of your life insurance and income protection policies.

  • Review of your estate planning

Step 3 – The Financial Plan (Statement of Advice)

The next step of the financial planning process is for us to prepare the financial plan, otherwise known as the Statement of Advice “SoA” document. The financial plan will include the following;

  • A Comprehensive summary of your current personal and financial position.

  • Advice on Wealth Creation Strategies to you.

  • Advice on Superannuation (Structures and Strategies) – including SMSF.

  • Forecast Modelling on your net asset position as part of your Retirement Plan.

  • The impact to your Cash Flow (including tax implications) following the implementation of our advice.

  • Wealth Protection advice including Life Insurances and Income Protection

  • Estate Planning considerations to ensure your assets are protected.

Step 4 – Presenting our Advice to you

Once the financial plan has been completed, we will then co-ordinate a meeting with you to discuss in depth the strategies and advice we have recommend to you.

Step 5 – Implementing the Advice

Step 5 of the financial planning process is to start implementing the advice and strategies we have put in place for you. As part of the process, we will organise all the necessary paperwork for you to complete and for us to establish and implement the advice provided in the financial plan.

Step 6 – Ongoing Review

Once we have implemented the initial advice, it is important that we continue to monitor and review the advice we have implemented for you.  This is long-term plan, a journey that we will work together in achieving your financial goals and objectives. Our review process is step 6 of the financial planning process and includes;

  • Ongoing review and management of your Superannuation (including SMSF).

  • Ongoing review and management of your Investment Portfolio (buy/sell shares)

  • Ongoing review of your property investments and loan structures.

  • Provide you with updates on changing tax legislation the strategies are appropriate to these changes.

  • Complete access to our advisers for any finance related questions

  • Provide additional advice to any changes to your lifestyle.

We don’t just provide one annual review, our ongoing advice and service is accessible at any point in time. In addition we provide active advice on your investments (specifically share portfolios) to ensure your portfolio can adapt to changing economic conditions.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Related Product of Interest

Thinking about investing? Speak with the Hub FInancial team to help point you in the right direction. With so many different options such as Property, Managed funds and  Shares. We will help you choose an investment style that suits you.

HUB Financial identifies Risk management as an essential part of protecting your families future and provide peace of mind. By preparing families for future uncertainties and protecting their lifestyle and income. We all insure our house and our cars, but have we insured the most important things, ourselves and our lifestyle?

Think superannuations is just for retirement, than think again! The younger you start paing attention the beter off you will be!

 

Frequently Asked Questions

 

1. When should I seek financial advice?

 

 

It’s never too early or too late to put a plan in place to improve your financial future.

There are many reasons why you might need professional financial planning advice, and everyone’s circumstances are unique and different.

For example:

  • You have secured your first job, or are changing jobs

  • You want to plan for retirement

  • You have funds to invest

  • You want to protect your family

  • You want to buy shares, or an investment property

  • Your marital status has changed, or you have lost a loved one

  • You are starting your own business

  • You are planning a major milestone – new home, marriage, family.

  • You want to plan your estate

And many other personal and professional reasons.

A financial planner will help you reach your goals; even if retirement may seem a lifetime away, the sooner you start planning the more likelihood you’ll have to achieve financial independence and peace of mind.

 

2. What is financial planning?

 

A good financial plan will help you create a comfortable future for yourself and your family. It’s based on achieving goals and dreams and is about providing you with the information and advice you need to move in the direction you want to take.

 

A financial plan will put you in control of your financial future.

 

3. How much does financial planning advice cost?

 

Contact us for more information.

 

4. What should I think about before seeking financial planning advice?

 

It helps to be as involved and as engaged as possible in the whole process.

 

Before seeking advice, you may want to consider questions such as:

  • What are my wants, needs and goals?

  • Where is my super?

  • How much do I have or want to invest?

  • What sort of return am I looking for?

  • Can I live with the risk of losing some money?

  • What are your priorities?

  • What do I want from my advisor?

  • Who else in my family do I need to consider in this process?

  • How involved do I want to be in the process?

  • How often do I want to be kept updated?

There’s also a few other things you may want to ask your advisor when starting out:

  • What is your process and approach to financial planning?

  • What are your areas of expertise?

  • How much do you typically charge?

  • Will I receive a written plan?

  • How often will we discuss and update the financial plan?

  • How do you resolve issues or disputes that arise?

  • What are your credentials?

 

5. It sounds intrusive, what will my financial planner need to know?

 

Your financial planner will need a range of personal information to get started, and to ensure they have a complete and accurate picture of your current situation. It’s important that they fully understand your situation, so it’s best to ensure you don’t leave out any vital information.

 

The most common items you will be asked about are:

  • Age

  • Income

  • Family situation and dependants

  • Current living expenses

  • Planned or likely future expenses (car, house, travel, family etc)

  • Tax returns

  • Assets

  • Debts

  • Super and other investments

  • Insurances and other protection

 

6. What is in a financial plan?

 

 

If your financial planner gives you personal advice, they must give you a written Statement of Advice (SOA). This sets out:

 

  • The advice they’ve given you.

  • The information on which it’s based.

  • How they get paid (including any commissions).

  • Any interests, associations or relationships that could influence them.

Personal advice is financial advice that takes into account your personal objectives, financial situation or needs. The information in an SOA should be presented clearly and concisely, with enough detail for you to make an informed decision about whether to act on the advice.

If your financial planner gives you general advice only, they do not have to give you an SOA. However, they must warn you that the advice has been prepared without taking into account your objectives, financial situation or needs.

 

7. What happens once I have been given the plan?

 

Ultimately, any final decision relating to your funds will always be yours.

 

8. How do I choose the right financial planner for me?

 

When choosing a financial planner, make sure they have the necessary qualifications and memberships (FPA).

 

Beyond this, it is very much a matter of personal choice.

Look for a financial planner that will treat you money as if it were their own, and a planner that takes the time to fully understand your needs, wants, expectations and fears.

A financial plan is a long term partnership that should ultimately help you achieve your goals and deliver you peace of mind.

 

9. What should I look out for and be wary of?

 

Be wary of people who call themselves financial planners but are not sufficiently professional or even qualified.

 

Look out for anyone providing Financial Advice or Services who:

  • Don’t have professional license, qualifications or FPA membership.

  • Don’t take time to learn about your individual circumstances, needs and goals.

  • Are more interested in selling you a product than developing a strategy for you.

  • Promise high returns and low risk and tell you not to worry.

  • Avoid questions and withhold information.

  • Has fees and charges that are not clear or appear excessive.

 

10. How does the financial planning process work?

 

There are six fairly standard steps that will help you understand what you can expect when seeing a financial planner:

 

1.  Initial orientation.  Meet and discuss needs, wants and expectations of both parties.
2.  Identify your short and long term financial goals
3.  Assess your financial situation
4. Prepare your financial plan
5. Implement the recommendations
6. Review, refine and improve the plan – regularly report

To Create, Grow and Protect your Financial Future, Contact Us Today.

Complimentary First Consultation

Your opportunity to speak with us about beginning your financial journey.

Hub Financial - Redlands Financial Advice

Financial Planning Advice Redlands

Superannuation Advice Redlands

Self Managed Super Redlands

Income Protection Redlands

Life Insurance Redlands

Trauma Insurance Redlands

Investment Advice Redlands

Estate Planning Redlands

Retirement Planning Redlands

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Hub Private Wealth Pty Ltd trading as Hub Financial Advice is a Corporate Authorised Representative of Affinia Financial Advisers Ltd ABN 13 085 335 397 AFSL No. 237857

Office Location
1/86 Shore st West 
Cleveland Qld 4163

© 2019 HUB Financial