Developing your financial plan with Yield - It's all about you!

 

 
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It starts with a conversation

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Whether you have found us by referral, on the internet or some other means, we want to get an understanding of who you are and what advice it is you are looking for, as well as to give you an understanding of our advice process.

To prepare for our first consultation, we will ask you to complete a comprehensive, but concise client questionnaire that summarises your present position and send this to you via email.


Next we meet

It is important that we establish an open conversation about what you are trying to achieve. This entails financial goals and also non-financial goals, as we find that they usually interrelate in the end.

We encourage you to consider all that life could be for you financially in the best case scenario and can always scale back from there. By tackling things this way we can eliminate items which are less important, in order to identify a list of priorities which really matter to you.

We have a unique approach to qualifying and quantifying these with you, which we refer to as your ‘Value Tree’ and this forms the basis of our advice both now and in the future, as we use it as a tool to navigate change in your life. 

We want to understand what your current plans are, so we can work with what you already have in mind. Sometimes our advice can validate your thinking and other times it will challenge it.

Depending on who you are and your stage of life, our conversation will be directed towards topics which are relevant to you. We will talk to you about some of the strategies and product solutions that you have available to you, to meet your objectives.

The first meeting is equally about you gaining confidence in us and we are open to answer any questions you have.

In this meeting we will talk through our fee structure and how we operate as a business both in the initial stages and ongoing to give you a clear understanding of how we could work together.

Depending on your life stage and or specific need, the advice we provide you will differ between full Financial Planning and Limited or Scoped advice. Differentiating where the value of our advice lies will form part of the initial meeting, when we have a clearer understanding of your needs.

  1. Full Financial Planning means we will work with you to define and chart a full financial plan to help you achieve your retirement goals and important priorities in between now and then.
  2. Scoped Advice means we can address a specific need now, like protecting your income with insurance or superannuation advice.

What advice do you need?

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Once we are clear on how we can help, we will determine with you if you are ready to progress with our advice or if a second meeting is appropriate. If we progress directly to preparation of advice at this time, we will send you a 'plan summary' by email (refer below 'Create your Strategy'). 


Create your strategy

Either in the form of a 'plan summary' report or on email, we will detail our thoughts of how a plan could benefit you and what it could include. This forms the foundation of your plan and it is therefore really important that you are comfortable with it and feel confident that we have addressed everything you want to see in your plan.

Once you have confirmed your comfort with the 'plan summary', the financial planning team conduct an internal strategy meeting sharing their thoughts to give the broader team an opportunity to contribute to the strategy design.

It is likely that further questions will arise at this time for you, prior to preparing your plan.


Plan presentation

Plan presentation is typically a face to face meeting and is intended to summarise your plan.

We take the time to discuss with you the key items the plan is intending to address and then summarise the measures we have formulated to assist you to meet your targeted goals.

Your plan presentation is intended to act as a means to break down the advice into bite size chunks, to assist with your understanding of it when you read it later at home.


Take action

Once you have had a chance to read and digest our advice, we can assist you with implementation. This is a very important part of the whole process, as without implementation your plan is just another list of good ideas.

We can assist you to implement some things from beginning to end, such as assistance in the management of your superannuation for example, however where the assistance of another adviser is required, such as specific tax advice, we will work with your chosen adviser to ensure implementation is as simple and seamless as possible.


Review and monitor

Now you have your financial plan in train, it is vitally important to review and monitor it in order to manage change. The three most significant changes that will inevitably occur include:

  1. Personal Circumstances
  2. Markets
  3. Legislation

In order to ensure your plan remains on track, we offer ongoing advice to our clients and have a variety of ongoing service packages on offer. Our ongoing review services assist you to confidently navigate change and make it work for you as best as possible.


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