HOW WE CREATE YOUR TAILORED FINANCIAL PLAN
IN 3 EASY STEPS
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STEP 1: FOUNDATIONS PLANNING SESSION
During our initial Foundations Planning Session, we'll have a video call (or in-person meeting) to discuss your situation, your goals, your challenges, your aspirations, and answer all your money-related questions.
On this call, we'll talk about the 8 pillars of a successful wealth strategy and what we can do to create yours.
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STEP 2: CREATE YOUR STRATEGY
After getting a full understanding of your situation, needs, and vision, we'll recommend a way forward via our Lush Life Foundations Program.
This is our foundation-level program where we give you a solid financial base over 6 months and create a simple strategy for you to start making your money work for you.
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STEP 3: BUILD YOUR WEALTH
Using the financial strategy we create, we'll work together to keep optimising your situation in our Lush Life Wealth Building Service.
Our goal in this flagship service is to make sure you're living for today and planning for tomorrow - while also getting to your Financial Independence Figure as quickly as possible without sacrificing your lifestyle.
Hitting your FIF means you have enough passive income to live on every year without having to work, which means you'll only be working because you choose to.
STAGE 1: STRATEGY CREATION & IMPLEMENTATION
(The Details)
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During the Foundations Planning Session, we’ll get clear on exactly what you want your money to do for you and what our next steps are in making that happen.
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Once you’re ready to go ahead, we’ll go through the onboarding procedure, which includes setting you up in our Lush Wealth Portal and completing your Digital Fact Find.
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Then we put the Lush Wealth team into action! We get to work collecting your data. You may not hear from us, but we’ll be working away on this big task like busy bees in the background. After this stage, we’ll know more about you than your mum and BFF combined!
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Cash flow and budgeting. If you don’t have the desire to spend an hour in front of an Excel spreadsheet entering how much you spent on groceries (let’s face it - who does?!), link your banking to the Lush Wealth Portal and let us do the numbers. If you need help setting up the portal, our client relationship managers have you covered with a 30-minute video conference to get it done.
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Explore Your Options Meeting. Time to really get your financial ducks in a row. We’ll meet to clarify and prioritise your goals. Aim high; we love a challenge! We’ll discuss what you want to achieve, preliminary strategies that may be suitable, what you are comfortable considering and what is outside your comfort level.
During this session, we will also delve into investment fundamentals - finding out your existing investment knowledge provide the education you need to fill the gaps. Do you hold strong ESG (Environmental Social and Governance) values? We have you covered here.
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A financial planner is only as good as their secret weapon, the Paraplanner! Our paraplanning team will prepare your Financial Plan (Statement of Advice), ensuring that each plan is easy to read, compliant, and looks great.
We utilise leading financial modelling software to match your goals with financial strategies and consider multiple scenarios to ensure you have the right outcome. There is no cookie-cutter advice here, every client scenario is unique, and we take the time to model your advice carefully.
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Specialist Consultations. As your personal Chief Financial Officer, as needed, we’ll arrange consultations with any specialists we agree would be in your best interests to consult.
The Personal CFO Service has many benefits. Firstly, it will save you time by not starting from scratch and getting to know another professional and your needs. Plus, we ensure that what is discussed and implemented will align with your financial plan. Thus ensuring you are on your way to lining up your financial ducks.
We do not accept “kickbacks” or referral payments (no Aldi bags here!). We refer you to our panel as they provide a first-class service to Lush Wealth Clients and have your best interests at heart.
Risk Specialist
Let’s be honest. No one wants to pay for insurance, but it may be a necessary backup plan. There is no hard sell, we will give you options, and we can discuss trade offs to implement an appropriate level of cover.
Estate Planning Lawyer
Estate Planning Lawyer
No a “will kit” won’t cut it; let’s do it right! Ensure that your existing arrangements are still appropriate, or execute new documents. Our panel of Estate Planning Specialist’s make the process as painless as possible. (Fees for this service are charged directly via your chosen solicitor)
Banking Specialist
How you manage your cash flow matters.
Getting your banking structures in order makes a big difference in managing your financial plan. We will refer you to an appropriate broker or bank to suit your needs. Should you need a re-fresh, new finance or to simplify your structure we have the right people ready for you.
Other Specialists As part of sorting out your "ducks" we will ascertain if you need to consult any other specilists:
• Property Buyer/Advocate • Accountant • Family Lawyer • Solicitor • Real Estate Agent • Stockbroker
Fees for this service are charged directly via your chosen specialist.
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Your Lush Life Financial Plan Presentation Meeting. This is where we bring all the pieces together and you choose what you would like to proceed with. The process is open and interactive rather than pushing you down a ‘one-way street.’
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Make It Happen. Time to fully implement your financial plan. Leave it to us to sort out the administration and get you going.
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Post implementation check up. We won’t leave you hanging. Once everything is in place we will make sure all aspects of the plan are running smoothly and you are in control and comfortable with everything.
STAGE 2: WEALTH BUILDING
(The Details)
When we make a commitment to you, we mean it! In the Lush Life Wealth Building Program, we’ll keep you on track and give you ongoing guidance to confidently manage your finances with an annual review.
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Ensuring we take advantage of any legislative changes.
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Making sure your investments are still appropriate.
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Assessing what has changed in your world that will impact your plan.
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Providing ongoing budget monitoring
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Keeping you accountable to the plan
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Providing support from our team to stay on top of your admin.
The impact of having an ongoing financial advice relationship is genuine and real.
A recent Rice Warner study into the future of advice stated that investors who received advice over four to six years accumulated 60% more assets than those investors who had no advice.
In addition, where advice exceeded 15 years, households accumulated 290% more assets than
comparable households.The intangible benefits are also real.
A white paper produced by Fidelity International in late 2019 into the Value of Advice found that 74.3% of Australians who currently receive advice say it has improved their financial wellbeing. An additional 49.9% say their mental health has benefited.
Most importantly, the 77.1% of respondents receiving advice were able to achieve their personal goals.
Not everyone requires financial advice every year. Sometimes there are a few years of intense work to implement a strategy, then we believe you will be able to keep going on your own.
The benefit here is less in financial advice fees. Others really appreciate and require an annual review - it really depends on your individual circumstances.
We will discuss your needs and provide an indication of what we believe your ongoing advice needs are.
Keep in mind that we have no lock-in contracts and you are free to cancel our service at any time.
What Our Clients Say
Gaynor McTaggart
"On contacting Christine at Lush Wealth I had hoped to gain a better understanding of my finances and improve my financial literacy. I had some goals I had hoped to achieve but did not know how to get there.
The planning process was helpful to define goals further and understand how to achieve those. I was then able to better understand and manage my spending.
I am now much more adept at managing cash flow and my superannuation is improving, ensuring my retirement plan is achievable and on track. We have executed my Wills and Estate planning documents in case of the unforeseen. I feel comfortable my finances are well-managed and working for me.
After an unforeseen life disruption, I was in a position where I needed Lush Wealth‘s help for peace of mind. Had I not sorted out my finances it would have been a lot more stressful. Knowing my financial planning is well-managed gives me peace of mind. Christine and her team at Lush Wealth are extremely understanding of my unique position and made the process easy to understand and are fast at facilitating it."