Financial planning is the process of meeting your life goals through the proper management of your finances. Life goals can include buying a home, saving for your child’s education or planning for retirement.

All too many people go through life without planning for their financial future.

After all, that's the easy option!

However, that’s not our philosophy at IOA. We believe in making our Clients and their families' lives financially more secure by helping them control their future.

When it comes to planning ahead, your financial situation has to be one of your most important considerations.

You may say that you haven’t got enough time to organise your financial affairs more effectively or that you just find the whole subject too complex and confusing.

This is hardly surprising when there are so many different companies – ranging from financial planning firms, stock broking firms, accounting firms, life assurance companies and banks – offering a variety of financial services and products through "Private Client" channels.

Our policy is simple. We don’t baffle you with jargon.

The financial planning process consists of six steps that help you take a "big picture" look at where you are financially. Using these six steps, you can work out where you are now, what you may need in the future and what you must do to reach your goals.

The process involves gathering relevant financial information, setting life goals, examining your current financial status and coming up with a strategy or plan for how you can meet your goals given your current situation and future plans.

The six steps of the financial planning process are:

1. Gathering your financial data - such as details on your income, debt level, commitments, etc.
2. Identifying your goals
3. Identifying any financial issues - or deficiencies between where you are now financially and where you want to be.
4. Preparing your financial plan - which will identify recommended investments and will address your attitude to risk
5. Implementing your financial plan
6. Reviewing and revising your plan - to ensure it stays up-to-date and relevant to the economic climate and your changing lifestyle

To You
Financial planning provides direction and meaning to your financial decisions. It allows you to understand how each financial decision you make affects other areas of your finances. For example, buying a particular investment product might help you pay off your mortgage faster or it might delay your retirement significantly. By viewing each financial decision as part of a whole, you can consider its short and long-term effects on your life goals. You can also adapt more easily to life changes and feel more secure that your goals are on track.

Making the right investment decisions is crucial to your financial future.

Managing your finances has become one of the most important, complex and challenging issues facing us today. Changes to taxation, superannuation and the range of investment alternatives available means that even more than ever before, you need to seek professional advice on all your financial needs.
Accessing the expertise, advice and direction of a professional financial adviser can take the worry out of investing and set you on a path to financial success.

Our qualified and experienced financial adviser offers a range of services tailored to your needs. Our financial adviser understands the risks and returns associated with the wide range of available investment strategies and options. He is aware of tax and legal implications and can assist you structure your finances to meet your needs throughout your working life and when you retire.

Whether you are looking at alternative investment opportunities, changing jobs, retiring or simply starting to take the first steps towards future financial security, you will not regret seeking IOA’s professional advice. The way to get your financial situation in order is to have a proper plan that looks at what you have; where you are now; and where you want to be in five or ten years time. The only way to do this is by putting a financial plan together. The best way to develop a sound financial plan is to seek sound professional advice.

We offer objective information and strategic advice to ensure that, whatever your current circumstances, your wealth management plans are wholly appropriate and flexible to your ever changing needs. The recommendations we make are specifically designed to achieve the particular goals and objectives of our Clients.

With our help, you can be free to live your live, confident in the knowledge that your future security – and the security of those who may depend on you - is based on the firm foundation of expert planning, skills and guidance.

The Economy
Financial Planners can assist the Australian economy by helping clients recognise the need to save and invest, and provide them with an efficient, convenient and secure means to do so. This will help reverse the trend which has seen household savings decline.

The additional savings will help arrest the current-account deficit that is currently hamstrung by interest payments on the overseas debt. This in turn, will provide an option for governments and the private sector to borrow locally.

In addition, more capital will be available to boost the rate of investment as a catalyst of productivity growth. Greater economic growth leads to improved living standards and also creates jobs. A reduction in unemployment alone would be a great contribution to society, but financial planners also contribute by ensuring fewer people rely on social welfare.

This has a two-pronged social benefit: financially independent citizens have high self-esteem that contributes to their general health and well-being and, therefore, to that of society. In addition, fewer people putting pressure on the welfare system means that more can be spent on the really needy.

Some personal finance software packages, magazines and self-help books can assist you in creating your own financial planning. However, you may decide to seek help from a professional financial planner if:

• You need expertise you don’t possess in certain areas of your finances. For example, a planner can help you evaluate the level of risk in your investment portfolio or adjust your retirement plan due to changing family circumstances.
• You want to get a professional opinion about the financial plan you developed for yourself.
• You don’t feel you have the time to spare to do your own financial planning.
• You have an immediate need or unexpected life event such as a birth, inheritance or major illness.
• You feel that a professional adviser could help you improve on how you are currently managing your finances.
• You know that you need to improve your current financial situation but don’t know where to start.

A financial adviser is an expert trained to understand your individual investment profile. Using the range of responsible options available, we will assist and guide your through to a secured and informed investment future.
At IOA we assist you in the following areas:

• Budgeting
• Wealth Accumulation
• Investment selection
• Investment gearing
• Risk analysis
• Tax effective strategies
• Retirement planning
• Estate planning
• Superannuation
• Risk insurance

IOA will be the single point of contact for all of your planning needs.

When preparing your investment strategy with your financial adviser, you will have many factors to consider and discuss. Apart from assessing if you are investing an adequate amount to fund your investment or retirement goals, there are numerous other issues to decide on and include in your plan.

IOA has a well developed, proven process which consistently results in the development of successful financial planning strategies reflecting the individual requirements of each client.

The Financial Planning Process consists of the following six steps:

1. Establishing and defining the client-planner relationship.
   The financial planner will clearly explain or document the services to be provided to you and define both his and your responsibilities. The planner will explain fully how he will be paid and by whom. You and the planner should agree on how long the professional relationship should last and on how decisions will be made.
   
   
2. Gathering client data, including goals.
   You meet with your financial adviser. Your financial adviser will ask you many questions to get to know you and to determine your financial goals, both long and short term. Your adviser will consider your current situation - your assets and liabilities, expenses and income. Your adviser will also determine your risk tolerance, that is, how you feel about risk.
   There are no right or wrong answers. Your adviser is there to learn all about you, so he or she can analyse your situation and determine a recommended course of action. If you have any questions or concerns, ask away. Your financial adviser is there to assist you.
   At IOA, we ask the right questions and importantly, we listen.
   
   
3. Analysing and evaluating your financial status.
   The financial planner will analyse your information to assess your current situation and determine what you must do to meet your goals.
   
   Depending on what services you have asked for, this could include analysing your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies. We explain your options and work with you to determine the optimum strategy approach.
4. Developing and presenting financial planning recommendations and/or alternatives.
   
   Your financial adviser will analyse the information you have given them in detail.
   
   On completion of the analysis, a recommended action plan is then developed.
   
   Depending on the clients and their requirements, this may involve:
   
   • A written, commonsense, easy-to-read report tailored for the total individual requirements of the clients
   • Further discussions with the client
   • Identifying financial products suitable for achieving targeted wealth accumulation for both pre and post retirement purposes
   • Proposing options for estate planning
   • Setting out time-frames for personal and financial goals
   • Identifying insurance products to meet desired level of security
   
   Your comprehensive written Plan confirms your current circumstances and objectives; outlines the strategy; provides a step by step summary of our recommendations including specific investments, amounts and research; projects outcomes; advises on related matters; and explains fees and ongoing management arrangements.
   
   The financial planner will offer financial planning recommendations that address your goals, based on the information you have provided. The planner will go over the recommendations with you to help you understand them so that you can make informed decisions. The planner will also listen to your concerns and revise the recommendations as appropriate.
   
   
5. Implementing the financial planning recommendations.
   Once you have agreed on your plan, it can then be implemented. This may involve opening a new account, consolidating your superannuation accounts and other assets, taking out insurance and more.
   IOA will prepare all the necessary paperwork and manage the implementation process. When necessary, we work closely with your legal and accounting advisers.
   
   
6. Monitoring the financial planning recommendations.
   Financial planning is all about making sure that your current and long-term financial needs are met in the best possible way.
   
   This requires:
   
   • Establishing ongoing communication between client and advisers.
   • Regular updating of information about clients, taking into account changes in lifestyle.
   
   You and the planner should agree on who will monitor your progress towards your goals. Because clients’ needs are constantly changing, their financial plan requires regular revision to remain relevant and up-to-date.
   
   If a need to amend the plan is identified, our Planning Principles are once again set in motion.
   
   It's never too early or late to seek the advice of a financial planner

.