Financial Planning

Personal Financial Planning concerns the creation, enhancement, protection and distribution of wealth. It is arranged through a process that integrates the Saving, Investment, Insurance, Retirement needs of each individual after taking into account taxation, social security and cash flow requirements.

It combines the skills in different disciplines to ensure a co-ordinated plan designed to accomplish financial goals.

Most people fail to achieve their financial goals not because they lack the resources to do so, but because they fail to plan.

We need to analyses the individual's needs and present a plan them save, manage cash flow, protects assets and increase wealth.

Our immediate aim would be to solve the problem or task presented, but also to form a macro view of the individual and to integrate the different disciplines, to advise, to implement and to give on going service.

Strategy development

Developing a strategy involves looking at all your concerns, goals and resources, then prioritizing them and addressing the major issues first. Your attitude to risk is also factored to ensure appropriate investment products are selected. The strategy must address financial issues like:

• Do you get the feeling your money could be working harder, but don't know what to do about it?

• Are you starting to get worried about whether you'll have enough to live on in retirement?

• Do you have money to invest, (like a superannuation payout, or the proceeds of a business), and don't know how best to invest it?

• Are you adequately protected if things go wrong with your health, your home or your business?

Are you having trouble keeping your living expenses below your income, and don't know what to do about it?

The Financial Planning Process

Financial Planning is the process of meeting your life goals through the proper management of your finances. Your life goals could include buying a home, saving for your children's education, managing debt or planning for retirement. We use the following process that helps you look at the "big picture" look at where you are and where you want to be financially.

Built into this process is the "six-steps to developing a financial plan", using these steps we can help you work out what you may need to do now and in the future to reach your goals.

The 6 Steps to developing a Financial Plan

1. Data Gathering

2. Identifying Goals

3. Identifying any Financial Issues

4. Determining attitude to risk, consider issues & strategies

5. Implementing your Financial Plan

6. Reviewing & Revising your Plan

Initial Consultation

At this first meeting, we explain how we operate and what you can expect. You get to meet us and decide whether you feel comfortable with us, and we get to meet you and decide whether we would work with you as a client. This is important because the relationship can possibly last for the rest of our lives. We also spend considerable time gathering information on your current circumstances and objectives referred to as "Fact Finder" or "Data Collection". The first meeting has no cost or obligation. If we feel we can be of assistance to you, we will agree to prepare a comprehensive, written financial plan. Any fees and charges will be fully explained and agreed prior to the commencement of any formal planning work.

Plan Preparation

Having gathered the necessary information, which may require a number of meetings, we prepare a written financial plan.

Plan Presentation

We then meet again to present and explain our written recommendation, which cover many issues including investments and strategies, and also any costs and fees associated with those recommendations. Attention is paid to how our recommendations will achieve your objectives.

Implementation

We may need to meet once or twice again to clarify or adjust the plan accordingly before implementing the recommendations. The implementation may take some time and we will monitor it progressively and keep you fully informed. (we have had plans that require 3 to 4 steps over a 2 year period)

Ongoing service and review

We offer a comprehensive, ongoing service, which for a fee, provides you with comprehensive reports on any investments, checks performance against objectives, recommends any changes we think necessary, and provides you with ongoing access to us as part of the service

AMP Financial Planning Pty Ltd

When you consult an AMP Financial Planner, you're secure in the knowledge that they have training and experience, along with the substantial resources of AMP, one of Australia's largest financial services institutions.

AMP Financial Planning, a principle member of the Financial Planning Association, is currently one of the largest financial planning groups in Australia, with over 1200 financial planners.

Advisers undertake ongoing professional training to keep them up to date with the latest strategies. You will receive high quality advice and service, which includes access to investments with leading fund managers. See Partners. AMPFP supports and stands behind the advice provided by CA Financial Services Group Advisers.