Financial planning process

Financial Planning

Step 1: Understanding your needs

• Together we will identify and prioritise your specific goals, needs and circumstances as well as the range of investment options suited to you.
• We will analyse your situation and consider all the suitable investment alternatives available using the expertise and resources of the BankSA. We will even recommend a competitors product if we believe its right for you.

Step 2: Preparing a recommendation

• We will prepare a statement of advice which details the strategies you need to implement to achieve your goals.
• We will make recommendations in writing, detailing every step of the proposal.
• We will explain the basis of the strategies we recommend.
• We will comprehensively explain all fees and charges.
• Together we will address any concerns to ensure that you are completely satisfied with our recommendations.
• It is at this point that we mutually agree to proceed to the next step.

Step 3: Implementing your strategy

• We will implement the agreed strategy once you are comfortable with the recommendations.
• We will only proceed if we believe we can add genuine value.

Step 4: Reviewing and updating your plan

• We will offer to regularly review your financial plan to ensure it remains on track and properly reflects your changing needs and circumstances.

At BankSA, we understand that everyone has different needs. Our approach is not a ‘one size fits all’ solution. Your Financial Planner will take the time to ensure you receive a personalised solution that is particular to your needs and situation.