What Happens When Meeting a Financial Adviser?
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What Happens When You Meet With a Financial Adviser?

Professional financial advice is integral to help grow your wealth. Seeking the services of an experienced financial adviser is definitely something that no one should pass up when they get the chance. 

Over the years, the services of professionals in financial management have become more valuable because of the difference they can make in your portfolio’s growth. Whether your goal is to build the best retirement plan or develop a smart investment portfolio, working with a financial adviser proves to be an invaluable opportunity. 

If you’ve been thinking about improving your financial strategy, it’s clear that you’ll need to enlist the services of a financial adviser sooner or later. And like any other new experience, you may be wondering what happens when you set that appointment.

Building Expectations

The idea of enlisting the services of a financial adviser like Costal Advice Port Macquarie’s professionals may seem intimidating, but the actual experience could not be more comfortable.

The process of seeking professional advice to help build a robust financial road map entails much collaboration between the client and adviser. If you can navigate the process of meeting a skilled professional and manage your expectations properly, it will be much easier to start working productively towards achieving your financial goals. 

But to do this, it’s essential to come prepared with an understanding of what you can expect to happen when you meet a financial adviser. Here’s a quick rundown of everything you need to know: 

The Financial Plan Process

When you start working with a professional financial adviser, you will go through some standardised processes from your first meeting onward: 

  • First Meeting – Understanding You and Your Goals: One of the preliminary steps you will undertake is an initial discussion with your chosen adviser. With this step, an expert will be able to gauge your current financial situation and pressing financial concerns while suggesting actionable steps right off the bat. It’s important to come prepared and provide your adviser with as much information as possible about your super, assets, liabilities, cash flow, any concerns you have and your goals.
  • If your situation is complex or requires some initial research, a second meeting may be required.
  • Proposal Submission: Taking all the insight from the first meeting, your adviser will formulate a proposal that clearly outlines the next steps involved by the Advice Team to complete the research, Advice & implementation of our recommendations along with the explains how much you’ll have to pay for the advice you can expect to receive.
  • Research, Strategy Development and Product Selection: When you do decide to work with a financial adviser, you can expect to have them review your personal information, risk tolerance, and goals. This particular step is vital because it helps them determine an appropriate plan of attack while gauging which financial products and investments will work in your best interests. This research and the recommendations are the basis of your Statement of Advice.
  • Statement of Advice Presentation: Once all of the research has been completed, your Financial Adviser will present your Financial Plan or Statement of Advice (SOA). During this meeting your Financial Adviser will step you through the plan, answer any questions you have, and make changes if required. They will ensure you have a complete understanding of the process, applicable fees and Ongoing Service before you proceed with our advice.

What to Expect from the Professionals (Advice from Your Adviser)

When you take the plunge and agree to work with a financial adviser, the experience that follows after is rather in-depth. 

From the moment you begin your Financial Advice journey, it’s best to expect that your chosen professional will ask lots of questions while guiding you in terms of what to look forward to. As you continue to implement strategies and meet set goals for certain stages, there will be some instances wherein you’ll need to undergo another evaluation to prepare for more growth.

Sort Out Your Finances, Talk to An Adviser Today! 

Although many different tools provide invaluable opportunities to grow your finances, professional financial advice stands out because of how much of a difference it can make. Once you enter the process of working with a financial adviser, it will be easier to fast-track the journey towards your goals! 

To know more about tips in managing your finances, check out these posts:

Are you looking for high-quality financial advice in Port Macquarie for your short and long-term goals? Coastal Advice Port Macquarie has got you covered. Get in touch with us today for a complimentary consultation!


Disclaimer: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group, Coastal Advice Port Macquarie, and Sydney Wealth Advisers are subsidiaries of Coastal Advice Group which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.
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