How We Work
There is no charge to you for your initial discovery meeting with Revolution Financial Advisers. During our initial meeting, we will work together to identify your goals (both financial and lifestyle) and objectives. We will take notes, obtain your information and ask you questions in order to understand more about your unique personal circumstances and financial situation. This will allow us to identify where you are now but crucially where you want to be in the future.
You will also learn more about our engagement process and how we can assist in achieving your goals both in the short term and long term. We encourage you to ask as many questions as possible during this meeting to ensure that you are comfortable with our process and that we are the right fit for you and your personal financial journey.
Gather all relevant information (discovery phase)
To allow us to fully analyse and understand your current financial situation, we will require further additional information than that obtained during the discovery meeting. It is likely that we will want to obtain current up to date information such as that for investment balances, superannuation balances and insurance level coverage along with all relevant expenses and premiums payable. We may also ask you to provide your tax returns, financial statements for your related entities and a copy of your latest Will.
We require all relevant information from you to enable us to produce the best possible financial plan for you. If you leave out or do not provide all of the relevant information required, it is very likely that your financial plan will be based on incomplete or inaccurate information which is detrimental to all parties.
Formulate and document our advice
Once we have obtained all of the relevant information required, we will begin to formulate, strategise and develop a financial plan which directly ties into each and every goal previously identified during the discovery phase of our engagement. This is essential to ensure your personalised financial plan is directly relatable to what you would like to achieve from your engagement with us.
During the formulation phase, it may be necessary to hold a further meeting to discuss our initial thoughts to ensure that you are comfortable with the direction we will head when preparing your financial plan.
Once we have fully formulated our advice, we will produce a document called a Statement of Advice (SoA) which fully sets out in writing your goals and objectives, our strategies, recommendations and reasons as to the choice of strategies and why they are suitable for your current unique personal circumstances. If applicable, product advice will be fully explained in the financial plan too.
Present and explain your financial plan
We will present and fully explain your financial plan during another meeting. We will reiterate your current position, your goals and objectives and then fully explain how our strategies and recommendations match what you want to achieve moving forward. We must fully disclose all of our initial fees and charges as well as any ongoing fees applicable to you.
Once we have fully explained your financial plan, you have asked any questions and we are all comfortable to proceed, we can all sign off on the financial plan and move to the implementation phase.
Implement the recommendations
Once we have all signed off on your financial plan, we can begin to implement the various strategies and recommendations which have been agreed.
We will work closely with you during this phase to ensure everything progresses smoothly. It is likely that both you and us will be responsible for actions during this phase but we will outline this for you and manage the overall process.
Ongoing review service
It is vital not to treat the initial financial advice process as a set and forget event. It is incredibly important to ensure that we continue to review and monitor your financial plan at least annually to ensure it still aligns to your needs and financial goals. The frequency of review will be discussed by your adviser and tailored to your unique personal circumstances to allow us to provide you with the best level of service possible.