Plan Preparation

We will start preparing your financial plan once we feel we have sufficient information to do so - typically after having one or two initial meetings, and perhaps a few telephone discussions.

The Australian Securities and Investment Commission (ASIC) in it’s booklet “Getting Advice”, says that a good financial plan should:

1. summarise your financial position
2. list your goals
3. explain how you will reach your goals
4. show how carefully chosen investments mesh together as working parts of your overall strategy
5. disclose and explain any risks and how they can be overcome
6. state all costs
7. reveal the commissions your financial planner might receive from the investments they recommend.

The financial plan you receive from 50Plus will contain (as a minimum) all of the information shown above.

We will always strive to present you with a financial plan that clearly sets out our recommendations, as well as explain how these recommendations will enable you to meet your objectives.

Implementation

Once we have presented your financial plan and answered any questions you may have, it is time to start the exciting process of implementing your financial plan. This is where our support staff will take over and manage the whole implementation process. This may include (but not limited to) the following;

• completion of all documentation

• arranging for investments/superannuation/income streams to be established. This might involve us co-ordinating the roll over, or amalgamation, of existing funds to a new provider, or simply arranging for us to be appointed as your adviser (with your existing funds remaining unaltered).

• coordination of any external meetings with your/our accountant, your/our solicitor, our Centrelink Financial Information Services (FIS) officer, bank managers, etc.

For many new clients, it generally comes as a surprise to learn about the things we take care of, when implementing a new financial plan. However, our whole philosophy is to make the whole financial planning process as simple as possible.