The financial planning process at Ashford Financial Planning (AFP) is based on a logical and commonsense approach designed to address the specific needs and objectives of each client.
The process may be summarised as follows.
- Review of the current non-financial and financial position, objectives and particular needs of the client.
- Clarification of major life and financial planning issues to be addressed and appropriate financial planning strategies.
Preparation of a Statement of Advice (SoA)
- The preparation of a financial planning document (SoA) which brings together a client’s current situation and detailed recommendations that best satisfy their needs and objectives. Terms of Engagement included.
- Personal presentation of the SoA to clients at a subsequent meeting.
- Generally a two week completion time for preparation of the SoA.
- Minimum fee of $1,650 (including Goods and Services Tax – GST) for the SoA. Fixed dollar quote provided prior to the commencement of work.
Implementation of Agreed Recommendations
- All necessary documentation professionally prepared on behalf of the client.
- Investments lodged on the client’s behalf in a timely and efficient manner.
- Detailed confirmation of all transactions.
- Minimum direct share brokerage of 1.1% of the transaction value subject to a minimum dollar value of $110 per contract note including GST.
- Transaction fee quote confirmed in Terms of Engagement letter.
Review of Financial Planning
- Formal review of client’s financial planning at least annually.
- Timely communication with clients during the year in relation to financial planning matters of material importance to them.
- Ensures that client’s needs and objectives continue to be met and to take account of change including life transitions.
- Minimum annual retainer fee of $2,200 per annum including GST. Fee quote confirmed in Terms of Engagement letter.