Our Process

It’s important to ensure your financial adviser has taken the time to properly understand your personal financial needs, goals and preferences before making any recommendations to you.

6 Step Advice Process

Positive Wealth Management advisers use the following 6-steps to help our clients on their financial advice journey.

1. Defining the Scope of Engagement

Your adviser will explain the processes they will follow, identify your needs and objectives (as well as outlining areas not being covered in the advice process). They will provide details about their background, including education, experience, and what fees they charge.

2. Identifying your Goals

You will work with your adviser to identify your short, medium and long term financial goals. This stage serves as a foundation for developing your plan

3. Assessing your Financial Situation

Your adviser will take a look at your overall financial position, including your assets, liabilities, insurance coverage and investment or tax strategies.

4. Preparing your Financial Plan

Your adviser will create a Statement of Advice (SoA), where they recommend suitable strategies, products and services, and can answer any questions you have.

5. Implementing the Recommendations

Provided you are comfortable with the advice and have no further queries, your financial plan will be put into action. Where appropriate, the adviser may work with other professionals, such as accountants or solicitors.

6. Reviewing the Plan

Your circumstances, lifestyle and financial goals are likely to change over time, so it’s important that your financial plan is regularly reviewed to make sure you keep on track.

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