DolfinwiseFinancial planning advice process

Our advice process

Initial meeting

During our first meeting we would expect to establish why you are seeking financial advice and what you expect from us, as well as providing you with an introduction to our service.  As we strongly believe that planning is about helping people achieve their goals, we focus initially on understanding what your goals are in the short, medium and long term. We move on to understanding your current personal financial position and establishing how we can assist you.

Engagement process

At the completion of our first meeting will be in a position to inform you as to whether or not we think we can add value to your situation. If we can we will explain what our fees will be if you choose to engage us and what we believe will be the tangible and intangible benefits to you of doing so. We will provide you with a copy of our engagement paperwork.  We will then encourage you to take it away and reflect on the ideas we have discussed. Should you feel comfortable to proceed then you can return our paperwork and we will commence working on your situation.

Identifying financial issues

We will examine the financial goals and objectives that we have worked out with you and identify steps necessary to achieve and protect the fulfillment of these goals and objectives. Your current situation, your goals and your future plans all are taken into account in our initial piece of advice and form the basis for our ongoing relationship.

Preparing your initial advice

Once we have gathered suffcient information regarding your financial situation, we will formulate an overall strategy. Central to the strategy will be your ‘risk profile’ – it is your attitude to risk that will principally determine the investments that the planner recommends for you. This is important because investments that offer a higher rate of return have a greater risk of losing value.

Your plan will provide clearly identified recommendations relating to your goals and objectives. We will also where possible quantify the benefits to you of our recommendations whether they be fee savings, taxation savings or less tangible outcomes such as peace of mind or surety. At Dolfinwise we focus heavily on getting the strategy right as that is where we believe the biggest benefits of advice are to be discovered.

The advice document will also recommend any actions we recommend you take including those necessary to remedy shortfalls, for example, in capital or income. Sometimes we will provide comprehensive investment recommendations, estate planning advice, cashflow advice, strategy ideas, protection recommendations or sometimes simply confirm that the best solution is to retain your current circumstances.

We consider our clients whole situation in our review including debts, cash, term deposits, listed equities and investment properties as well as the usually assets of concern to financial advisers being superannuation, pensions, managed funds and insurance policies.

Implementing your financial plan

Once you have agreed to the financial plan developed with your Dolfinwise adviser, he or she will implement it on your behalf and assist you through the process.

Reviewing your plan

The preparation and implementation of the financial plan is only the starting point for your relationship with dolfinwise. We regard the most important part of our relationship with clients is our ongoing review service. This wholistic, pro-active service includes the following:

• Review progress towards meeting your goals and objectives, and adjust the strategy as your needs change. Explore any ideas, strategies or opportunities that may become available to you. Monitor your portfolio in line with our investment research, portfolio management processes, and your risk profile.
• Ongoing advice and administration relating to your investments, superannuation and insurances.
• Maintaining effective tax structures.
• Financial year end planning.
• Estate planning and inter-generational wealth transfer.
• Risk management.
• We will regularly monitor and advise you on how specific events may impact on your financial situation such as federal budgets, economic events and legislative changes.
• We negotiate fee rebates with product providers on your behalf.
  

Life is always changing and we believe by acting as an objective sounding board to our clients we can help them stay on course to achieve their goals and objectives much more efficiently.