Our Financial Planning Service
At Abound, we have approximately 350 ongoing service clients (ranging from 1-25 years of service with us) and actively manage our new client capacities every year to ensure we maintain our high standard of service to all. As our client, you will work closely with one or sometimes two of our Financial Advisers, all of whom have a minimum Certified Financial Planner (CFP) and or Master in Financial Planning Status as well as a broad range of specialist accreditations in Aged Care, Self-Managed Super Funds, Gearing and Direct Shares. You also gain access to our experienced support team who will assist throughout the advice process in conjunction with your Financial Adviser.
We complete a full financial plan addressing all the items agreed upon from your proposal to address your needs. We can also project manage any implementation of your strategies which can be done quickly using our systems and resources. Following setup by you or Abound, we can also review your financial plan annually and/or when your circumstances change to continue maximising your position.
For more information, please also find our Financial Services and Credit Guide for full details of our licensing, advisers, authorised services, professional standards and policy commitments for your review and peace of mind.
Our Proposal and Professional Service Fees
After your first meeting, fact finding and goal setting process, Abound will review the information and provide you with a proposal summary of our understanding of your position as well as the areas we would look to advise on in your tailored Financial Plan.
The proposal will include a quote for services and how this may be payable.
A guide to our Financial Planning Levels and Costs are as follows:
- Specific (Aged Care) Advice, Strategy & Financial Plan ($2,200-$3,960)
- Comprehensive Advice, Strategies & Financial Plan ($3,960-$5,940)
- Complex Advice/Entities, Strategies & Financial Plan ($5,940+)
Maintaining your Financial Plan
One of the core services of Abound is the review and enhancement of your financial planning strategies over time. We know that your personal position can change, and so can financial markets and Government legislation. We work with you to track the progress of your goals and identify opportunities and/or reduce risks wherever possible. As part of our initial meetings together, we can discuss how our ongoing advice services may be suitable for your own Financial Plan.
We traditionally encourage clients with an evolving position to commit to a one-year process of embedding the new financial plan and to make sure it is set up strongly to stay in place for your future. The ongoing review and advice process are not a locked in arrangement and is limited to a service period of 12 months unless you choose to renew for another 12 months thereafter. You are free to remove the service at any point in a 12 month period, when you feel ready to manage your financial plan yourself.
Our Regular Review Services:
- Review your projected planned position from the original Financial Plan. Are you on track? What has changed?
- Review your updated personal position, has there been a significant change that has impacted your plan? Job, car, inheritance, holiday, health.
- Review your investments and asset allocation in line with target ranges for your strategy.
- Review your superannuation/retirement strategies, are they as efficient as possible?.
- Reviewing your safety nets, do you have sufficient emergency savings? Would insurance cover meet your needs to maintain your lifestyle/assets? Do you have an up to date estate plan in line with your wishes?
- Review of your cashflow position. Are you saving more or less? Have any substantial expenses incurred or are any anticipated?
- Review all aspects of your position and advise to keep you on track.
A summary to our Regular Review Costs are as follows:
- Our basic ongoing advice and review fee starts at $4,400 per annum which includes a formal annual review of progress and changes in your position, ongoing discussions/communications during the year, portfolio review, strategy review and ongoing education on the key concepts of your plan.
- We would also provide you a quote for any ad-hoc additional services separate to your existing Financial Plan; however this would only be on the occasion of a significant change in your goals or financial position.