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Partners in Financial Planning endeavours to practice holistic financial planning.  We are committed to our clients and prefer to have life-time clients rather than once-off sales opportunities.  To achieve this, we have a set financial planning process that would normally involve two to three appointments at the onset of a new business relationship.

1: Establish Relationship:
Clearly establish the nature of the service required by the client, as well as the responsibilities of the parties.

2: Gather Information:
Complete a financial planning questionnaire with the client wherein we ask for the relevant information, including the following:
a)      Personal details.
b)      Financial position eg.  employment details and employee benefits.
c)      Assets and liabilities.
d)     Financial objectives.

3: Analyse the Information:
Quantify and calculate the client’s need/shortfall based on objectives and current financial situation.  This would include scenarios of death, disability, dread disease and retirement using licensed software.

4: Present Solution:
a)      Presentation of recommendations.
b)      Full disclosure of product options and fees.
c)      Allow client to reflect on recommendations to make a decision.

5: Implementation:
a)      Once client has decided to proceed, agree on implementation.
b)      Complete all necessary documentation and see administration process through to completion.

6: Review:
Conduct a review at least annually or otherwise as agreed, to:
a)      Assess changing circumstances and needs.
b)      Monitor progress toward objectives.
c)      Make changes as may be required.

Typically, step 1 and step 2 compromise one appointment, after which our analysis (step 3) is done and presented (step 4) at appointment two.
The implementation (step 5) is appointment 3 and the review annually thereafter.