At Benchmark Consultants we offer a variety of services as part of a comprehensive financial plan. For more information on individual services see the links below:
Choosing a Financial Planner
So you have just started researching Financial Planning and are confused as to who to select and what to look for? There are many things to consider when choosing a Financial Planner who is right for you.
Advice from a Certified Financial Planner® will ensure you are prepared for the unexpected.
Click here to read an informative article on what to look for when selecting a Financial Planner
Article by Noel Whittaker: Choosing a financial planner
What is Financial Planning?
Financial Planning involves looking at a person’s complete financial situation (including their income, expenditure, assets and insurances), ascertaining their financial and lifestyle goals, and establishing the most appropriate plan for achieving those long term goals using current economic strategies and financial products.
Once this ‘plan’ is put into action your financial planner will then review the situation regularly to ensure the plan is current and working to the best of its ability to meet your goals.
Why do you need a Financial Planner?
Most people can manage their own financial affairs to a degree, but they are not always making the most out of their money. Certified Financial Planners have the knowledge to maximise your income, minimise tax and make clever investment and insurance choices so you can achieve your financial goals and make your money work for better you.
If you want every dollar to work for you, then you need to engage a financial planner.
What to expect?
When you see a financial planner for the first time, you will be asked to provide information on your current financial situation and personal particulars. You will be asked to discuss your financial goals and desired financial situation both short and long term. We will ask you to complete a fact find sheet, discuss the fees associated with our services and from here we will review your situation and devise a plan.
If you approve of this proposal, we will complete a Statement of Advice (SOA) and any other required documentation in order to put the plan into practice.
Once in motion we will monitor your financial plan and regularly keep in contact to make adjustments as necessary.
Importance of Regular Reviews
Nothing stays constant, the global economy is ever changing. This is why it is important to review your financial plan annually. Before making any changes to your investments or other financial mattters it is best to contact your financial planner to discuss how this may impact on your personal situation.
It is a lot easier to prevent mistakes than having to fix them.
With all the complications around taxation, centrelink pensions, estate planning, inheritances and mortgages and other personal finances, changes to these things can huge impact on your financial situation if not planned correctly.
Financial Planning doesn't just stop after the original advice is given and implemented. It continues as things change in your life, and any changes to your circumstances or goals should prompt you to contact your financial planner to discuss how this will impact your situation, BEFORE proceding.
The video below is a great example of why regular reviews and speaking to your financial planner is so important when you are thinking of changing your plans.
If you have changes in your circumstances, contact us before making any decisions.
True Life Stories
Why insurance is important - Donald's Story