Financial Planning

Frequently Asked Questions

Making the decision to see a Financial Adviser can be one of the most daunting and yet rewarding decisions you can ever make. Here, we have tried to answer some of the most frequently asked questions we get asked. If you have any other questions that you’d like to ask, please feel free to give us a call to discuss further.

Do I Need An Adviser?

If you could achieve your financial goals by simply putting money away in the bank, you wouldn’t need a financial plan. Unfortunately, life is a little more complex – it’s hard to understand the intricacies of investment, taxation and ever-changing rules and regulations, so sometimes you need professional help. Yet many of us resist seeking advice, as if our financial future weren’t just as important as our health or our children’s education. We often decide to manage our financial affairs ourselves, or leave it to someone we know, which is a bit like buying vegetables at the butcher’s.

Financial planning is a specialist profession and you should make sure that you’re getting advice from a properly qualified person who will work in your best interests in helping you to achieve your goals. We can help you reach your goals no matter how small or large no matter how close or far away they seem; the sooner you start planning the more likely you’ll be to achieve financial independence and peace of mind.

What is Financial Advice?

Financial planning is about developing strategies to help you manage your financial affairs and meet your life goals – and the first step is to make sure you have access to the right advice.

Financial advice can be “transactional” whereby you have an issue that you need solved now, for example the need to protect yourself or your family with Income Protection or Life Insurance etc, or advice can be “holistic” whereby we establish an ongoing relationship and meet at regular intervals to ensure that we are maximising the strategy and adjusting the “working components” as required. We can help advise as to what advice is best suited to you.

There is no right or wrong answer and the type of advice you need may well be dictated by the stage of life you are at.

Aren’t Advisers just for people who have lots of money?

This is nothing more than an urban myth and couldn’t be further from the truth! An adviser is there to help set clear and achievable goals and to guide you through the process of achieving these goals. Do I pay off the mortgage or top up my super? How do I make my debt work the best for me? Can I afford an investment property? What happens to my family if something were to happen to me? These are all very common questions that I’ve helped countless people work through.

What Should I Expect From You as my Adviser?

At Rawson Verco Need, we believe the best relationships are based on trust, respect and mutual understanding. Furthermore, there are two guiding principles that our adviser, Pete Hawcroft, holds above all else:

  1. That having a clear and succinct strategy is the key to long-term success AND
  2. That our job as your adviser is to educate NOT to dictate.

In developing strategies for clients we will present factual information in a clear and understandable manner so we you make an informed decision. We will often even present more than one strategy to consider so we can get the best outcome for you for your given circumstances.

What Are Our Qualifications?

Pete Hawcroft graduated Griffith University with a Bachelor of Commerce majoring in Financial Planning and Investments in 2004. Since graduating Pete has completed post graduate studies and has achieved the highest rating for a Financial Adviser, that of Certified Financial Planner® status, and is also a member of the Financial Planning Association of Australia. He is also required to undertake continuing professional development and education in order to keep up to date with most relevant strategies available to help you achieve your hopes and dreams.

How Much Does Advice Cost?

The cost of financial advice varies depending on the complexity of the strategy and is usually broken into two components – “Upfront Costs” and “Ongoing costs”. Upfront costs can start as little as $550 and include formal recommendations as to particular strategies and investment or insurance recommendations that achieve your specific needs. The ongoing costs include the ongoing cost to continually review the strategy, investments and insurances to ensure they remain appropriate for your specific needs. We will provide you with a quote prior to implementing any advice.

What do I need to bring with me?

We often say all clients need to bring is an open mind and any questions that they want answered! But in all seriousness, bringing in home loan statements, copies of your payslips and superannuation statements is often a great start. And if there is anything else that is on your mind then bring that in too!

Is There Anything We Don’t Do?

There are some things that financial advisers can’t do by law. In this case think of us as your project manager introducing you to the specialists in these areas. We have strong relationships with other professional service firms in mortgage broking, general insurance and estate planning who can provide you with the specialist advice that you require.