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Face to face with financial advice – the first meeting

What does the first meeting with a financial planner look like? Learn how it is done at Invest Blue.

 

The thought of coming face to face with financial advice… do the possibilities excite you? Or does it all seem a little overwhelming? You might feel like you want support with money matters, but don’t know who to turn to or trust. You may also be unsure if your situation warrants a full financial advice relationship.

You chat to a friend, they tell you about all the wonderful advice they’ve been given, they seem to have it all together and you think that it might be a great idea after all. You’ve spoken to others and might be put off by their lack of enthusiasm. You think, am I saving enough? Am I spending too much? How do I know what I can afford? What will my future look like? Who can I turn to? Who can I trust?

Statistics vary from time to time, but it is well documented that less than half (somewhere between 20-30%) of Australians seek financial advice. Should I be in that category? How do I know?

Our clients tell us regularly that they value what we do, they trust our advice and believe they are better off for it. So why do others find it hard to seek advice out? Why do we resist financial advice? Fear of the unknown is a very valid reason. Just what happens behind those closed doors? What about my debts or lack of savings? Will I be judged? Will my financial performance look poor? Will I understand the information? These are all perfectly normal and natural fears to have.

Ready to talk about financial planning or just have some questions? Get in touch or simply contact us below.

Everyone’s experience is different

We’re going to start by saying that everyone’s experience with financial planning will be different, and some are seeking different experiences. Some people have really complex situations and are happy to hand the reins over to a professional. Some people work really well with their adviser and together come up with a plan to achieve their dreams. Some people are hesitant to let a stranger into their private life and open up about personal matters. Some find it difficult to articulate their situation and are firstly looking for some clarity and to feel relieved they are on the right track. Everyone is different, and that’s OK.

What doesn’t change, though, is Invest Blue’s approach to the first meeting. The way we approach building our relationships all starts the same. We’ve found that by asking key questions at the start, we are then able to provide personal, specific and tailored advice in the end.

“I think it’s natural for people to feel hesitant and a bit nervous before the first meeting – there is a fear around being judged, exposed to someone new, and compared to others, which is just not how we are! Sometimes people ‘want to lose weight before they see the Personal Trainer’, however, it really isn’t necessary! We’re here to help, and love working WITH our client to empowerment and ultimately becoming better financial versions of themselves”.

Invest Blue Financial Adviser.

 

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“We’re here to help, and love working WITH our clients to empowerment and ultimately becoming better financial versions of themselves”

So, what does this first meeting look like?

First of all, we offer you tea, coffee or water, because that’s just human decency.

Then, we chat.

We call this meeting our ‘Understand’ meeting; basically, it’s a whole lot of getting to know each other.

We chat about you, who you are and how you got to where you are today. We chat about what’s most important to you; your family, your passions, your goals and dreams.

Then we look at your current situation; what you own, what you owe, and what investments, super or insurances you might already have.

We chat some more about your future, and how your current situation is helping you get there, and how it might be holding you back.

Then we turn the conversation to be a little more about us; what we do and the awesome resources and support we offer.

“What I love about the first meeting is that we take the time to understand people on an emotional level. By booking a meeting to come and see us, people have already invested their time in seeking help to improve their situation. We like to establish a connection with people so we can understand what is really driving them, and that’s how we can offer the best possible advice. It’s satisfying when you see the positive changes, and when you can become a coach or support for someone needing advice and guidance on an ongoing basis, sometimes at critical times in their lives.”

Invest Blue Financial Adviser.

Finally, it’s all about collaboration – we start to talk about how we can work together to build a plan to help you achieve your best possible life. And if by this stage we don’t think we will be able to add value to your situation, then we will tell you and you’ll be on your merry way.

 

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“It’s satisfying when you see the positive changes, and when you can become a coach or support for someone needing advice and guidance on an ongoing basis, sometimes at critical times in their lives”

What obligations will I have in the first meeting?

The only thing we ask is that you come prepared to talk. It is really important for us all to get to know each other. There will be lots of questions and there may be some you have not considered before. We often find ourselves having conversations with families that they haven’t had themselves.

A great first meeting is when people get excited about the benefits of good planning, and how much difference it can make in helping to achieve goals. With sharing information, comes trust, and it’s great when after the first meeting we have had some laughs, sometimes some tears but more importantly, everyone is comfortable speaking their truth. We have started a relationship that is been built on genuinely enjoying each other’s company while still achieving the desired results. Nothing is more enjoyable than seeing people get to rediscover their passions and getting the opportunity to enjoy them. A first great meeting ends with “we can’t wait for the next one”.

Invest Blue Financial Advisor.

There is no cost for a first meeting.

We do ask you to bring as much of your financial information along as you can, but if that isn’t possible that is OK too. We can work through that together.

So the first meeting went well, what happens next?

After our first meeting, it will be time to fill in all the gaps. We will need to have a clear picture of your current financial life and where you want to head so we can draft some advice options. Your second meeting is called a ‘challenge’ meeting because it will be our turn to challenge you to think about your financial life in new ways.

If you are keen to proceed with us, we will discuss the process in detail as well as explain any costs before you commit.

Why not contact us in the form below or get in touch today.

How does the whole process work?

In summary, there is a succession of steps that we take to develop your individual financial plans, staged across four meetings. These are:

  1. Understand: getting to know each other and understanding what is most important to you
  2. Challenge: challenging you to live your best possible life
  3. Empower: showing you how your best life is possible
  4. Support: providing the support you need to confidently get on with your financial plans

Each time we get together we will work through 5 key areas:

  1. What is important to you?
  2. Your details
  3. How we can help
  4. Next steps
  5. Summary and actions

Depending on where you are at in the journey, one or two of these steps will be emphasised, but we always go through this agenda.

I’m worried that I am not ‘qualified’ for financial advice.

You’d be surprised how often we have new clients come in, worried that their situation is particularly messy or weak. Now, we work with more than 3,000 clients and have been around for more than 20 years, so trust us, we have seen it all.

What is most important for any prospective client to understand is that we view a person’s situation as to theirs and theirs alone. We don’t compare one client to another. No two clients are alike enough to be able to do that.

If we meet with you and don’t think we can add value to your life after the cost of providing financial advice, we will not proceed. It is as simple as that.

 

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“A great first meeting is when people get excited about the benefits of good planning, and how much difference it can make in helping to achieve goals. A first great meeting ends with ‘we can’t wait for the next one'”

Who does Invest Blue help?

When it comes to identifying the people we believe we can make a difference for, it is less about money and more about their life. Ask yourself the following questions:

Have I succeeded in achieving the goals that are important to me and do I feel confident about my future?

The most important part of financial advice actually has little to do with dollars and cents. The reason our clients love working with us is because of the way we make them feel. We create confidence with money. We paint clearer pictures for the future. We help articulate goals and dreams and build plans to get there.

Do I value advice?

Just like we seek out a doctor when we are sick, or a teacher to be educated, working with an adviser is a professional relationship where all that time we spend honing our craft comes forward to benefit your situation. If you are prepared to have an open conversation, listen to the options and take action based on what feels mutually agreeable, you will get value from our advice.

How busy am I?

Do I have the time to research my financial situation and options? If I have investments, do I regularly monitor them to ensure they are performing as expected? Many clients either do not have the time or chose to use their time in other ways and want our input to keep them on track.

How financially literate am I?

Some of our clients are as informed about financial policy and practice as we are, but prefer to have our support to discuss options and keep them honest. Others admit to knowing very little in this space and want our expertise to help them make the most of what they have and to steer them in the right direction.

Am I at the right stage of life for financial advice? Am I too young? Am I too old?

The basic rule of thumb is that you are earning an income or are retired. We have clients ranging in age from early 20s to their 90s. There are periods of time when our advice can have the biggest impact, including when:

  • You want to buy a house
  • You have a new committed relationship or marriage
  • You have a new family
  • You are working hard, have debt and are concerned about protecting it all
  • You are getting closer to retirement and want to start thinking about transitioning
  • You are retiring or retired.

Am I clear about what my best possible life looks like?

All of our clients want to make the most of their situation and do their best to achieve their dreams and goals. They find value in working with someone who can help them articulate what is most important to them, and then build financial plans to help them live close to those values.

You can have a look at some of our Client Stories, to understand what could be relevant for you. You can also have a closer look at our process to understand the meeting steps.

 

Don’t hesitate to get in touch with us to find out more or book an appointment with an Adviser. And remember, it’s never too late or too early to start building a path towards financial empowerment and realising your goals and dreams.

What you need to know

This information is provided by Invest Blue Pty Ltd (ABN 91 100 874 744). The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relations to products and services provided to you.


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