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Frequently Asked Questions 

  • You've asked me to complete a financial checklist prior to our meeting, but I don't want to? Can't you just give me advice?
    Financial Advice requires a written Statement of Advice, which will be prepared after our first meeting. The reason we ask for information is that advice is based on your current circumstances, position, and formulated specifically for the individual or couple. If you do not wish to provide us with the information we ask for, or only have specific questions about how your super works, I would suggest contacting your superannuation fund directly as the costs will be much lower.
  • Do I really need financial advice?
    There is a common misperception that financial advice is really only for the wealthy. People with complex tax affairs and investment structures. But that is not the reality. In fact, anyone can benefit from financial advice. Research shows that advised people have better financial wellbeing. They worry about money less, enjoy better mental health, and have better personal relationships with family and friends. And they are wealthier. They are able to spend more and do more with less risk along the way. At River City Financial Planning we do what it takes to get things right without unnecessary complexity. We are thorough but efficient. No unnecessary tax structures and no over-engineered investments. We take the straightest path to provide you with the retirement outcomes you’re seeking.
  • How much will it cost?
    Appointments for prospective clients are billed at $385 per hour (GST inclusive), with a minimum one hour booking. This is for our time. After we understand your situation and if we can help you, we will be able to provide you with a written quote to proceed with a Statement of Advice. There are no surprises. Our service offer will be clear and the fees fixed. Statement of Advice fees will only be payable after you have provided your consent in a signed Terms of Engagement. We are paid only by our clients and only for the advice we give. We receive no commissions, asset-based fees, or any other payments related to product sales.
  • What can I expect from our first meeting?
    We will have a conversation about what you are seeking to achieve and explore options and ideas. Usually we will consider your cashflow, taxation position, how you invest, your social security eligibility and your estate planning needs. During our first interview together, we won’t provide you with advice. Each party is getting to know each other, to decide whether we want to work together in the future. Only then will we produce a Terms of Engagement for you to sign, and if we agree, we will proceed to advice from there. During busy periods you may be required to wait several months for our first meeting. That is because we prioritise service to our existing clients. If your need is urgent, please let us know, and we will endeavour to meet with you sooner.
  • Is your advice biased in any way?
    At River City Financial Planning we work for our clients and no one else. We are not aligned with any major financial institutions or super funds who want us to push their in-house products. If we make a financial product recommendation we can choose from a broad range of products, including any products you currently are invested in. What you see is what you get. There are no other vested interests or hidden agendas.
  • Do you specialise in any areas of advice?
    We specialise in retirement advice. It is all we do. We help people who are actively deciding whether or not to retire, and those who are already living in retirement. It is a specialist area of advice because planning for retirement is different. The needs of people approaching retirement or living in retirement are different to younger people accumulating wealth. And the risks are different, so the investment challenge is different.
  • When should I start planning for retirement?
    Typically, our clients first engage with us one or two years before they retire, or if they have already retired and require help with their financial affairs.
  • Are there any limitations to the advice you provide?
    Some advisers are limited in what they can advise you on. Others are tied to certain products that their employer is aligned with. At River City Financial Planning we are not limited in this way. We can advise you on your entire financial circumstances, no matter where your super is. As specialist retirement planners, we do not advise on personal insurance, such as income protection, but can refer you to appropriate specialists if the need arises. If we make a financial product recommendation we can choose from a broad range of products to suit your needs, including any investments you already hold. Our preference is to recommend the straightest, most efficient path possible for you to achieve the retirement outcomes you are seeking. Of course, if we don’t have the necessary expertise to answer any specific questions or formulate the advice you’re seeking we will tell you. If this happens we will connect you with other professionals.
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