How to review and use ongoing advice

If your financial needs are complex, you may benefit from ongoing reviews and maintenance to keep your financial plan on track.

Most advisers offer a number of ongoing advice service packages to choose from, to suit different needs.

These can include:

• Additional meetings throughout the year
• reviewing your financial plan
• providing reports
• maintaining your portfolio
• inviting you to client seminars
• sending you regular newsletters to improve your financial knowledge and confidence.

Ongoing service is usually optional, so you can always opt for ad-hoc one-off advice, if and when you need it. If you choose ongoing advice service, your adviser will meet with you at least once a year to review your financial situation. This is an important opportunity to measure how you’re tracking against your goals. Based on this, your financial adviser can update your financial plan.

Because your circumstances change as you move through life, your adviser will work with you during these reviews to reassess your needs and goals. If you have experienced major changes, your adviser can help you stay on track with your financial plan. That way, you can always have peace of mind that your financial future is secure.

Prepare for your annual review

• During your annual review, you should let your financial adviser know about any changes to:
• your income, expenses, and assets
• your financial or lifestyle goals
• your family relationships – for example, if you get married or divorced, or have a baby
• the level of risk you’re comfortable with
• other life circumstances – for example, if you come into an inheritance
• your personal insurance needs.
• anything else that may impact your financial plan. 

Your financial adviser will also tell you about any changes to laws, markets, or financial products and how they might impact your financial plan.