Money and Life(Financial Planning Association of Australia) With the rising cost of housing, an aging population, climate change and now a pandemic falling squarely on the shoulders of Australia’s mil …
Our Client Journey
Why seek advice?
People often put off seeking professional advice because they don’t know what to expect or they think that their needs are too basic to consult a Financial Planner or General Insurance Broker. But no matter where you’re at, the right advice can make a world of difference to yours and your business’ financial future.
We have clients at all stages of life and with a vast range of financial needs. When you engage us, we’ll guide you through The IAS Client Journey. This proven process is designed to ensure you are provided with a tailored solution that meet your needs and goals.
Discovery Call – this is a 15-30 min call where we will discuss the service that you require and if we can help you and or your business!
How our Client Journey works
IAS Client Meeting – This meeting is all about you and what is important to you! During these initial meetings we collaborate to assess your current personal or business circumstances – all the facts, as well as future financial or business goals and insurance requirements. There may be occasions where we would like to view your work site where possible, as we may see risks that are not visible to you. This ensures we have all relevant and information that we know the insurer will want to be across, when assessing your business risks.
Research and Scope – Following the initial client meeting, we analyse the information you’ve provided to us and research the type of strategy and scope of work that you would require. We may request some further information from you – like a Letter of Authority, further clarity on health for a medical pre assessment, or have a proposal form completed to allow us to obtain initial quotations and terms from an insurer. This is before we finalise the exact Strategy and Pricing.
Strategy and Pricing – We will include you in the decision-making process and educate you on why we have chosen strategies and policies. We may have a clear understanding of the cost to proceed with the advice, dependent on the situation, and other times we will need to continue further with research within the market to finalise the correct policy and terms that will be applicable to your situation. For our business clients, you will be required to sign a “What you told us” Form and check all the details provided to the insurer.
Authority to Proceed – After the Strategy & Pricing conversation, we will formally present you with our advice and recommendations.
- Personal Advice Recommendations – this will be presented in a Formal Statement of Advice Document. If you are happy to proceed to the implementation stage, you are required to sign and provide us written permission to move ahead with our recommendations
- Business Advice Recommendation – for a policy or policies, formal terms will be offered to you. If you are happy to proceed to the implementation stage, you will provide us written permission to move ahead with our recommendations. All business policies at IAS are due on the 30th of each month.
Implementation – This is where we implement the advice. This may include completing further applications and implementation of action items. How long this stage takes depends on the level of action required. Invoices will be sent to you for our services and payment for implementation is required at this stage. Options for payment via superannuation may also be available. For our business clients, there are options on how you can pay for your advice, via invoice or premium funding.
On-going Support – Our advice and recommendations are not just ‘set and forget’. We work closely with our clients on an ongoing basis throughout the year to make sure the correct actions are being taken and that the implementation of the strategy is on track and in line with their personal and business goals. Some clients may need us more often if they have multiple policies throughout the year or a complex strategy.
You will receive support along the way, whether it be through making insurance claims or to achieve other financial goals. If your personal or business changes throughout the year, you need to let us know as soon as you can as this can impact the advice and strategy that we have implemented.
Annual Review – Our annual review is an important time to review your personal and business goals and make sure your plan and policies are up to date with any changes that have occurred in your personal circumstances. We also make sure you are across any changing legislation that may affect you. During these meetings we frequently discover clients have new updated information and/or changes need to be made to existing policies. We review and take our time to ask the right questions so that you are covered correctly at claim time.
Businesses change from year to year and the business risk needs to be kept updated, we need to start the whole process again each year and double check that you are still correctly insured for your previous and updated activities.
We’re always happy to discuss our process further with you. Please don’t hesitate to be in touch. We’re here to help.