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Over the years we’ve found that some questions about who we are and what we do come up regularly, so we thought we’d put them together for you.
• What does a Financial Planner Do?
• What will it Cost Me?
• How much do I need to start the wealth creation process?
• When Should I Start Planning?
• Why Do I Need An Adviser?
• What services does Halogen provide?
• What kind of clients does Halogen have?
• What fees does Halogen charge and how are you paid?
• Does Halogen receive commissions?
• Who is My Adviser Pty Ltd and what do they have to do with Halogen?
• Does Halogen have a cookie-cutter approach to client portfolios?
• What happens if my Client Adviser is hit by a bus?
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What does a Financial Planner Do? |
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A good adviser is essentially a financial coach. A good adviser should demystify the process and educate you in the steps to wealth creation and allow you to make informed decisions. Together you should establish where you are and were you would like to be. Life changes, so along the way you should make contingency plans and adjust your strategy appropriately to your changed circumstances. This is where a financial planner can help. Yes it is a lifetime job. The same way as you won't stop working or earning an income you will never stop needing financial Advise and help.
Most successful people in all areas of life have a coach. Think about it, sports people, business people, even entertainers, they all have a coach. Coaches are designed to make you the best you can be. |
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What will it Cost Me? |
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It is essential to understand how the financial planner will be paid and what services will be provided. Financial planners can receive benefits for their financial advice in a number of ways, including:
Charging fees for the work done (fee for service);
Receive commission (or brokerage) from the financial institution;
Charging a scale of fees based on total funds you invest; or
A combination of fees and commissions.
There is no right or wrong way some times a combination of the above works well but by law your adviser must let you know exactly how he is paid. You don’t have to get hung up on fees you just have to understand and make sure you feel you are getting value. |
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How much do I need to start the wealth creation process? |
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People always underestimate what they can achieve over time. You should start the wealth creation process as soon as you can. If you can save $250 per month and have a capital sum of $3,000 you can start a wealth creation plan. Everyone also has compulsory super now which you must make sure is working for you.
Obviously if you have equity in your own home and the capacity to save or invest more than the above a number of choices and opportunities are open to you. The important thing is to start. Only 5% of the working population has a written financial plan. |
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When Should I Start Planning? |
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The sooner you start the better. Few people understand the concept of time and money growth. Parents can save as little as $3 per day for their children to give them a head-start in later life. $3 saved for 20 years @ 10% will give your child a head start of $50,000! |
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Why Do I Need An Adviser? |
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Halogen can help you objectively look at your financial needs and goals. We can also plan your financial resources depending on which stage of life you are experiencing. Many people do not utilize their resources to maximize their opportunities.
When we show clients strategies for the first time the most common response is ‘I wish I had known that ten years ago’.
Remember - financial planning is not about markets and products. It is about creating wealth and financial freedom for individuals in line with their current stage of life and goals.
What services does Halogen provide?
We specialize in education and designing financial strategies because we think investing doesn’t make sense without a strategy that takes all your circumstances into consideration. Once you or we have developed the best strategy for you (see step 1 of the Results system), we can invest you in shares, managed funds or property as we are licensed across these areas. We are also an insurance broker so can find the best cover for you. We also provide ad hoc advice if you just want help with specific areas. |
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What kind of clients does Halogen have? |
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We have a wide range of clients, from people in their 20s just starting out with their first jobs and 7 super accounts, through people in their 30s and 40s with established careers, mortgages, families etc, to people in their late 50s and 60s who are looking to set up their assets in the best possible way to provide them with an income when they stop work. Most of our clients are wealth accumulators and we specialize in developing strategies to make this possible. |
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What fees does Halogen charge and how are you paid? |
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We are a fee for service organisation which means that we do not receive commissions or kick-backs from fund managers to invest people in their funds. All our fees are transparent so you’ll never be paying anything you don’t know about and haven’t agreed to.
We offer several levels of service so you can choose what you would like us to do for you:
To learn more visit Halogen Connect 3 step results system |
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Does Halogen receive commissions? |
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No, Halogen is a fee for service organization. We do not receive commissions from fund managers to invest people in their funds.
We do receive commissions from insurance companies because we think it is more effective for the insurance company to pay us than you the client. This doesn’t affect who we choose as all insurance companies are structured this way, it’s just the fees come from them rather than you.
I’ve seen My Adviser Pty Ltd on Halogen letters and the website – who are they?
My Adviser Pty Ltd is a company that looks after our compliance and professional insurances. They make sure that everything about Halogen is compliant according to the Australian Security and Investment Commission requirements, from our professional standards to our record keeping. They are an Australian company, and they provide an Australian Financial Services License for us to trade under. |
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Does Halogen have a cookie-cutter approach to client portfolios? |
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No, we build each portfolio individually depending on your starting position, goals, age and timeframe. We also build each portfolio in relation to your risk profile – there’s no point creating a portfolio of investments that means you lose sleep at night worrying about it! Our portfolios need to pass your sleep test. |
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What happens if my Client Adviser is hit by a bus? |
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Your first point of contact is your Client Adviser but happily all the advisers at Halogen are fully qualified, compliant and experienced so if your primary adviser isn’t available any of our other team members can help you.
More questions? Ask away.
Call us on (02)9299 2505 or email us at feedback@halogen.com.au
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