What is financial planning?
Financial planning is about organising your finances so you can enjoy your life, now and in the future. Financial planning takes all the separate bits of your financial life and puts them into a single plan. Things like superannuation, insurances, investments, estate planning and retirement planning. Of course, financial planning also deals with specific needs like life insurance or your mortgage.
Why do I need a financial planner?
Finances can be complex. A qualified and experienced financial planner (especially an independent one like me!) will make the whole thing as simple as possible for you. And they will help you stay on track with both your short-term and long-term goals so you can have peace of mind. A financial planner can help you get ‘sorting finances’ off your To Do list and onto your Done list
Why do I need a plan for my finances?
People with a financial plan tend to do better over the long term and find it easier to navigate difficult economic periods, which do happen. You wouldn’t sail in rough seas without a map and compass (or a smart phone) so why sail into your future with no plan for your finances? People with a plan also tend to feel happier and more optimistic about the future. And who doesn’t want that?
You’re an independent financial planner – so what?
Good question! Because I’m independent I won’t accept any commissions, payments, gifts or benefits from any product providers and institutions whatsoever. That means three things:
- You pay less with me because there are no unnecessarily high fees and hidden commissions.
- You therefore have more money to spend on yourself or invest in your future.
- I can recommend the best products and service for you (unlike most mainstream financial advisers who only recommend ones from a small range of affiliated financial organisations).
Do some financial organisations still pay you commissions even though you’re independent?
Yes. They insist on it. But when they do that I just transfer the whole amount back to you.
Is financial planning just for the wealthy?
Not at all. Financial planning is for everyone. We can all benefit from a well-organised plan to guide our finances. Just like everyone can benefit from a health plan, whatever their level of fitness.
Is it all just about retirement?
Nope. Financial planning certainly aims to give you more confidence about retiring comfortably. But it covers a heap of other stuff including helping you make wise spending decisions right now on things like holidays, renovations and buying a home or an investment property.
Who implements the strategy?
It tends to be a shared job. For example, I might liaise directly with insurance firms and super companies on your behalf. But it’s up to you too. If you are happy to do some of the work, with guidance, then that is fine. The important thing to remember is that you are always in control of your money. I am here as your advisor to offer support and guidance. But you are always in control because it’s your money and your future.
Are you qualified to be a financial planner?
I certainly am. I have a Graduate Diploma in Financial Planning through Kaplan and a Financial Planning Association of Australia (FPA) Certified Financial Planning Program through Deakin University. I’ve also done Kaplan’s Self Managed Superannuation Fund course. I am a member of the FPA and the Profession of Independent Financial Advisers (PIFA). Oh, and back in the day I got myself a Bachelor of Science degree from the University of Tasmania majoring in computer science and mathematics. Yes, I have always been obsessed with systems and numbers!
Who are your customers?
I help all sorts of people to organise their finances. Young, middle-aged, nearing retirement. Small to medium business owners. Public servants. CEOs. Single parents. Couples. Families. You.
Do you only help Tasmanians?
I am proudly Tasmanian. And all my current customers are Tasmanian. But I love mainlanders too! And I’m more than happy to help you if you live on the Big Island.
What are your fees?
Initial consultation: A meeting to go through your financial situation and future goals, both short and long term. We’ll discuss your drivers and how I can help. After the meeting I’ll send you a detailed quote and terms of engagement for you to review and decide if you’d like to proceed.
Fee: $220 inc GST.
Advice: Here we get into creating your financial future. Initial advice tends to include a statement of advice with product recommendations e.g. whether your existing superannuation fund is appropriate and if it is invested suitably. Ongoing advice is about the longer-term management and support for your financial wellbeing. The fees below are indicative and depend on the range and complexity of your situation. But rest assured: I’ll always give you a detailed quote outlining what I’ll do and the cost for you to review and agree before any work is done.
Indicative initial advice fees:
|LIMITED (ONE AREA) e.g. income protection, superannuation review
||$800 – $1,000
||$1,200 – $1,400
|MEDIUM (TWO OR MORE)
||$1,000 – $1,400
||$1,400 – $1,800
|HIGH (FULL SCOPE)
||$1,400 – $1,800
||$1,800 – $2,200
Indicative ongoing advice fees:
|One meeting per year + full access
|Two meetings per year + full access
||Charged at the current hourly rate
||Charged at the current hourly rate with a minimum 15 minute charge
Why do you charge for the initial consultation?
Three reasons. One, I want to give as much time as possible to my lovely clients. They part with some hard-earned cash to get my help. The amount of time I have to help them would be reduced if I spent lots of time on free consultations. Two, some advisors give ‘free’ initial consultations by charging their paying clients a higher fee to cover the cost of the unpaid consultations. I don’t want to do that. When you become my client, I’ll always do my best to give you the best price possible with no hidden costs. Three, I am a sole trader and I need to earn a living. I have mouths to feed and a super to invest in! Just like you.
Are there any additional fees?
With me, there are no hidden fees. I’ll always tell you how much it’s going to cost before I start work. As mentioned above, if financial organisations insist on paying me commissions I just transfer it across to you on a quarterly basis. The only time there may be additional costs is if the scope of work changes at your request. And again, I’ll tell you about that at the time.
Why are you a financial planner?
Easy question! I want to make it simple for you to get on top of your future finances, so you can get on with enjoying the things that make you happy. I like giving people expert and honest financial advice that’s easy to follow and gets great results. Because that’s what I want for myself, my wife and my three kids. Basically, I want to make your life easier and your future better at a fair price.
What are your values?
I believe in fairness and loyalty. As your financial planner I will always give you trustworthy advice that is completely in your best interests. And I’ll be reliable and dependable.
What is your approach?
Listening is at the heart of what I do. I want to learn what you like doing and why, what matters to you and where money fits in. So together we can build a plan tailored for you and your best future. With me it’s 100% about you.
How will you communicate with me?
In the way you like. We can use in-person meetings, emails, phone, Zoom or a catch up in a café if you prefer! Whatever works for you.