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What to expect
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When you visit an adviser you can expect them to:
- ask questions so that they have an understanding of your personal and financial goals
- understand what you expect and want to achieve through their advice
- tell you about the services they will be providing
- explain the fees and charges that apply to their services
- inform you of their relationship with other entities (eg: company ownership details or product sales arrangements).
Your needs and what you want to achieve
An adviser will ask you questions to understand your current situation and what you would like your future to look like. When you see your adviser you should be prepared to discuss:
- your financial situation, commitments and dependents
- what you expect and want to achieve through the advice
- your priorities
- your risk tolerance (e.g. aggressive or conservative)
- existing savings and
- any other factors affecting your finances.
The information you provide will become the basis from which the adviser will develop your financial plan known as a Statement of Advice. The more detail you provide the better equipped they will be to understand and assess your needs and develop appropriate recommendations.
Preparing for your first visit
The format of your first visit will depend on how you set this up initially. You may have even been able to gain a free initial consultation.You may need more information about who the adviser is and how they operate to feel confident in following their advice. Prepare a list of questions for the adviser. Before seeing an adviser make sure you understand the reasons you have for seeing one, your financial position and priorities.
Gather together your financial documents and have them on hand in case you need to refer to them. Your adviser will ask you questions about your financial position so it is helpful to have a good understanding of these details.Before going to the meeting you might like to review your existing budget, your level of super and savings, your income, your family situation and any lifestyle changes you foresee that may affect any of these.
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This has been provided for general information purposes only. It does not purport to recommend any particular adviser or provide you with financial advice. In addition to seeking financial advice, potential investors must always read the Product Disclosure Statement for the relevant product before making an investment decision.
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