At AsCare, our suite of services all fall under one core banner: Financial Planning.

Before reading about the various areas in which AsCare specialise, it's worthwhile understanding the key steps each AsCare Adviser will go through in putting together a financial plan.

Financial Planning - The 6 Steps

Step 1 - Gathering the Data

To make appropriate recommendations on your financial future, your AsCare Adviser will work with you to understand your present financial position, your financial objectives and needs, and your current arrangements – such as investment structures, debt funds, asset & income protection, tax and legal considerations – that will meet your needs.

Step 2 - Identifying Your Goals

An integral part of the planning process is the identification of your goals and objectives. After identifying how you would like to live and what is required for you to achieve this, some of the issues you may consider include:

• The income and asset levels you are seeking
• Placing your investments in a secure manner
• Future education expenses
• Upgrading the family home
• Protecting your occupational income through adequate death, disability and income protection cover
• Accumulating assets to a defined level by a defined date
• Maintaining an agreed level of investment accessibility and flexibility

Step 3 - Identifying Financial Issues

Your AsCare Adviser will compare your financial situation with your financial goals and identify gaps, overlaps, ommissions and the steps necessary to achieve your goals. Your current situation, your goals and future plans will all form part of your financial plan.

Step 4 - Preparing Your Financial Plan

Having identified your goals and objectives and assessed your financial situation, your AsCare Adviser will formulate an overall strategy. Central to the strategy will be your 'risk profile'- it is your attitude to risk that will principally determine the investments that the adviser recommends for you.

This is important because investments that offer a higher rate of return have a greater risk of losing value. Your plan will provide clearly identified recommendations relating to your goals and objectives. It will also recommend any actions necessary to remedy shortfalls or shortcomings, for example, in capital or income.

Step 5 - Implementing Your Financial Plan

Once you have agreed to the financial plan developed with your AsCare Financial Adviser, he or she can implement it on your behalf, or assist you through the process.

Step 6 - Reviewing and Revising Your Plan

The preparation and implementation of the financial plan is the starting point for your relationship with your AsCare Financial Adviser. Ongoing services provided by your adviser can include:

• Tracking of existing investments
• Reviewing progress in achieving your financial goals and revising strategies as needed
• Investment portfolio valuations and reviews
• Information on new investment & protection opportunities
• Ongoing communications
• Ongoing consultations as required
• Access to educational tools and seminars

©Ascare Financial Planning 2002