How Does It Work?

The procedure is determined by client needs, which dictates that FAS services remain quite flexible to accommodate different circumstances.

Financial Planning, the more complete process, involves:

  • An ‘no-obligation’ initial interview providing the opportunity for the client to detail their situation, to share information, and to determine the nature (and cost) of engaging FAS services;
  • A formal written plan (Statement of Advice) may then be produced for an agreed fee, covering the essential issues, recommendations, and terms of engagement;
  • Implementation of the proposals would follow client adoption of the plan. All of the required paperwork and administration is completed by FAS on your behalf. Any cheques are made out to the company with which you are investing – FAS does not operate any Trust Accounts or take possession of your funds! FAS will establish and maintain a file of all relevant information (including tax file numbers), documents and forms, which may be inspected on request.
  • Portfolio Review Service (PRS) is then encouraged for all clients. For a small additional cost, clients will receive the benefit of programmed reviews, pro-active advice, regular reports and constant access to their personal advisor for discussion on any matter or issue that arises. (Note: there is no compulsion for clients to adopt PRS, in which event the normal care over initial process is taken, but any future services are charged at an agreed rate.)

What about the costs?

All costs, and the method of charging, will be discussed at the initial interview, and confirmed in the written plan. Generally, you will pay a fixed fee for any consultation and written plan preparation, and FAS will be paid brokerage by investment or insurance companies on funds placed on your behalf. FAS usually receives trailing brokerage to cover any costs associated with servicing your investments, but subscription to the PRS will incur additional fees, either by direct charge or extra brokerage. This will be negotiated with you before you commit to any service.

 

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ABN: 76 008 263 705

AFSL Number: 227929

450 Pulteney Street, Adelaide, SA, 5000

Phone: (08) 8232 3111