Financial Planning Process

Step 2 Strategic Analysis

Strategic Analysis and Preparation of a Suggested Financial Strategy

Having agreed to the terms of engagement and obtained a clear understanding of your financial position, financial needs, objectives, investment preferences and tolerance to various levels of investment risk, your Banksia Advisor will begin preparation of an advice document (known as a Statement of Advice (SoA)).

At this point your Banksia Advisor will:

  • Analyse your current financial position and relevant financial documentation.
  • Model various financial strategies incorporating ‘cash flow’ management, debt management, superannuation and other savings, income requirements, taxation, savings capacity, risk management, etc.
  • Clarify any resulting queries with you and determine a ‘best options’ outcome before completing a final detailed strategy.
  • Undertake a checking process to ensure our recommended strategies and advice are technically sound.

Your Adviser may consult with you a number of times through this process to ensure that our assumptions about your financial objectives are valid, ‘tease out’ further information or ideas, and discuss individual financial strategies prior to integrating them into your overall financial plan.

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