What to Expect

What to expect from your first meeting with a Inunison Financial Adviser

What to Expect

What to expect from your first meeting with a Inunison Financial Adviser

An appointment with a financial adviser doesn’t have to be scary. Here’s what you need to know. In a good meeting you can count on being the one doing most of the talking while being reminded that it’s your money, your future and your decision. Many of us don’t know what to expect and can find ourselves asking questions such as “what should I know before speaking to an adviser? What should I bring? What kinds of questions will they ask me?”

While the nature and the details of every meeting is unique, as the needs of every client will vary, here’s a typical outline of what your conversation with a financial adviser may look like.

An appointment with a financial adviser doesn’t have to be scary. Here’s what you need to know. In a good meeting you can count on being the one doing most of the talking while being reminded that it’s your money, your future and your decision. Many of us don’t know what to expect and can find ourselves asking questions such as “what should I know before speaking to an adviser? What should I bring? What kinds of questions will they ask me?”

While the nature and the details of every meeting is unique, as the needs of every client will vary, here’s a typical outline of what your conversation with a financial adviser may look like.

Financial Snapshot

Before we can figure out where we’re going, we need to determine where we are today. You would never attempt to give a friend some directions if you didn’t know where they were coming from. Much the same with your financial plan; your adviser can’t help guide you until he or she knows the starting point.

You’ll discuss your current assets that will include your banking accounts, your superannuation, and any investments you might have. It is also important to discuss any debt you may have such as credit cards, student loans, car loans and your mortgage (if you currently have one). Your adviser will also consider any existing insurances you may hold as mitigating risk is an important part of planning.

Financial Snapshot

Before we can figure out where we’re going, we need to determine where we are today. You would never attempt to give a friend some directions if you didn’t know where they were coming from. Much the same with your financial plan; your adviser can’t help guide you until he or she knows the starting point.

You’ll discuss your current assets that will include your banking accounts, your superannuation, and any investments you might have. It is also important to discuss any debt you may have such as credit cards, student loans, car loans and your mortgage (if you currently have one). Your adviser will also consider any existing insurances you may hold as mitigating risk is an important part of planning.

Cash Flow Analysis

Once a baseline has been established for your assets and your liabilities, it’s time to assess your monthly cash flow.
This is a fancy way of saying you’re going to discuss how much money you make and spend each month, and how much you are saving. Your adviser is getting an understanding of how much you have available to reasonably save and invest on a monthly basis. This is a great time to discuss where you would like to cut back on certain expenses. Now this is also the part of the process that people tend to feel self-conscious…but you don’t need to be.

We are not here to judge you, or to tell you how to spend your money…that is for you to decide. We simply need to understand what your cash flow is and what your financial behaviours and attitudes are so we can help you reach your goals.

Cash Flow Analysis

Once a baseline has been established for your assets and your liabilities, it’s time to assess your monthly cash flow.
This is a fancy way of saying you’re going to discuss how much money you make every month and how much you spend each month, and how much you are saving. Your adviser is getting an understanding of how much you have available to reasonably save and invest on a monthly basis. This is a great time to discuss where you would like to cut back on certain expenses. Now this is also the part of the process that people tend to feel self-conscious…but you don’t need to be.

Once a baseline has been established for your assets and your liabilities, it’s time to assess your monthly cash flow.
This is a fancy way of saying you’re going to discuss how much money you make and spend each month, and how much you are saving. Your adviser is getting an understanding of how much you have available to reasonably save and invest on a monthly basis. This is a great time to discuss where you would like to cut back on certain expenses. Now this is also the part of the process that people tend to feel self-conscious…but you don’t need to be.
We are not here to judge you, or to tell you how to spend your money…that is for you to decide. We simply need to understand what your cash flow is and what your financial behaviours and attitudes are so we can help you reach your goals.

Setting Goals

Now that we know where you stand financially and how much you have available to invest each month, we figure out what we’re doing with those savings. This is how you know your adviser is focused on helping you meet your objectives because this is where you’ll be asked questions like “What are your goals? What are you hoping to achieve? What is most important to you? To help you put together an investment plan, your adviser needs to know when you plan on needing that money.

Are you hoping to buy a house in the next three to five years Are you saving to afford a big vacation every year? Are you trying to pay off your debt? Are you planning to put away funds to cover unforeseen expenses in an emergency saving account? Are you looking to send your children to a private school or are you looking to start saving for your retirement? By prioritising your goals, your adviser can help put a plan in place that is intended to help you get there.

Setting Goals

Now that we know where you stand financially and how much you have available to invest each month, we figure out what we’re doing with those savings. This is how you know your adviser is focused on helping you meet your objectives because this is where you’ll be asked questions like “What are your goals? What are you hoping to achieve? What is most important to you? To help you put together an investment plan, your adviser needs to know when you plan on needing that money.

Are you hoping to buy a house in the next three to five years Are you saving to afford a big vacation every year? Are you trying to pay off your debt? Are you planning to put away funds to cover unforeseen expenses in an emergency saving account? Are you looking to send your children to a private school or are you looking to start saving for your retirement? By prioritising your goals, your adviser can help put a plan in place that is intended to help you get there.

Finance 101

Based on the information you have shared, your adviser will discuss with you some preliminary thoughts around your expressed needs and goals.

Topics touched on could include investment risk and return, saving (both in and out of superannuation), insurance, Centrelink and other discussion points to help you understand the best course for you.

Finance 101

Based on the information you have shared, your adviser will discuss with you some preliminary thoughts around your expressed needs and goals.

Topics touched on could include investment risk and return, saving (both in and out of superannuation), insurance, Centrelink and other discussion points to help you understand the best course for you.

Meeting Outcome

By the end of the meeting, you’ll have the basics of a strategy that will cover areas such as, how much you wish to be saving each month, what those savings are for, where you would like them invested and why. You’ll have a strong grasp of where you are financially, where you want to go and how you’re planning on getting there.

It’s important to remember that you are the decision maker. Your adviser is there to assist you on your journey towards reaching your goals by doing all the number crunching and modelling the desired outcomes whilst making sure that any taxation and/or legislative issues are taken into account.

Meeting Outcome

By the end of the meeting, you’ll have the basics of a strategy that will cover areas such as, how much you wish to be saving each month, what those savings are for, where you would like them invested and why. You’ll have a strong grasp of where you are financially, where you want to go and how you’re planning on getting there.

It’s important to remember that you are the decision maker. Your adviser is there to assist you on your journey towards reaching your goals by doing all the number crunching and modelling the desired outcomes whilst making sure that any taxation and/or legislative issues are taken into account.