Financial planning is the process of meeting your life’s goals – analyzing a client’s financial affairs in order to meet their needs and objectives through an agreed financial program.

This process requires:

Your life’s goals may include purchasing your first home, budgeting, saving for your children’s education and the most important planning for retirement.

When developing a financial plan, SBA Financial Planners use a six-step process. This six-step process will help you work out where you are now, what you would like to achieve in the future and what you must do to achieve your goals.

When Do you Need a Financial Planner?

There are many reasons. Some might be:

Six Steps to tailored Financial Planning

1. PREPARATION

First contact helps you establish the working relationship between you and SBA Financial.
A Letter of confirmation of the appointment will be sent out.
Your financial needs and goals will need to be established at this interview.
Some basic information about yourself will be discussed, such as:

This will help us at SBA Financial to understanding your needs and objectives.

2. FACT FINDING

The first meeting with the client is used to gather information on your current financial situation, commitments and short, medium and long-term financial goals
You will be presented with our Financial Services Guide outlining:

Completion of a Client Fact Find
This establishes a client's risk profile which will assist the planner to develop strategies to provide the right mix of income and capital growth.

Gathering all relevant information
After this step you will be able to decide whether you wish to proceed to the next step which is the preparation of a Statement of Advice (SOA).

3. PREPARATION OF THE CLIENT'S STATEMENT OF ADVICE

The SOA may include a range of recommendations:- Life insurance, other personal risk insurance, general insurance, investments vehicles (property, shares fixed interest, managed funds), saving vehicles, superannuation pensions and annuities.
The SOA also contains information about the:

4. PRESENTING THE STATEMENT OF ADVICE

Once again a meeting will take place with your financial adviser at SBA Financial. The SOA will be explained in full to you and you may ask any questions that could lead to changes in the SOA. If you are fully satisfied you would then sign an Authority to Proceed and complete any necessary application forms.

5. IMPLEMENTATION

SBA Financial will submit investment applications on your behalf.

6. REVIEWS

Review your plan at least once a year to ensure the plan is still suitable for your needs. But if significant changes occur in your situation, such as:

Short-term reviews would be beneficial for those special circumstances. There are no restrictions on calls or meetings as your circumstances change. SBA also issues quarterly newsletters mailed to you and seminars are held twice a year.

Code of Ethics

As a member of the Financial Planning Association we at SBA are committed to a Code of Ethics and Rules of Professional Conduct that is mandatory and enforceable.

Integrity
Members shall observe high standards of honesty and integrity in conducting their financial planning business in the provision of financial planning services.

Objectivity
Members shall disclose to the client any limitation on their ability to provide objective financial planning services.

Competence
Members shall provide competent financial planning services and maintain the necessary knowledge and skill to continue to do so in those areas in which the member is engaged.

Fairness
Members shall provide financial planning services in a manner that is fair and reasonable.

Diligence
Members shall act with due skill, care and diligence in the provision of financial planning services.

Professionalism
Members shall ensure their conduct does not bring discredit to the financial planning profession.

Confidentiality
Members shall not disclose any confidential information without the specific consent of the provider of that information unless compelled to by law or as required to fulfill their legal obligations.

Compliance
Members shall ensure their conduct complies with Memorandum and Articles of Association of the FPA as well as the FPA’s regulations and professional standards.

Rules of Professional Conduct
There are 35 rules of professional conduct divided into 11 separate sections covering the following: