Advice Process

At McCarthy Financial our Advice Process is at the core of providing appropriate financial advice to our clients and involves the following six (6) steps:


1: Client Discovery

Getting to know our clients is the initial stage of the Advice Process. The core purpose of this is to identify and collect our client’s needs and objectives. This may be completed via a number of discovery meetings, a mail out, as an initial phone discussion, or a combination of these.

The initial client appointment provides the opportunity to not only review all personal and financial details, but also enables us to present the services a client can expect to receive, as well as explain investment issues and set realistic expectations for a productive, long-term relationship.

2: Advice Preparation

The second step involves developing strategic and product advice to assist our clients in achieving their needs and objectives. This involves researching appropriate products, modeling the client’s current and optimal financial scenarios, and developing a clear, concise and Statement of Advice (SOA) outlining the recommendations, costs and risks for the client.

3: Advice Presentation

A client’s commitment to proceed is followed by the presentation of the Statement of Advice (SOA). This stage allows us to demonstrate the value we bring to the relationship by demonstrating how the recommended strategies outlined in the SOA will assist our client in achieving their needs and objectives.

4: Implementation

Once our advice has been presented to the client, and they are happy with the recommendations, it is time to put the advice into practice. The key to our implementation process is ensuring our clients are familiar with the process and reassured of the suitability of their investment and/or insurance choices.

5: Review

To ensure our clients remain on track to achieving their needs and objectives, regular checkpoints in the planning process are essential. These checkpoints are reviews, and are a key component of our Advice Process.

As well as fulfilling important regulatory requirements, the review is an opportunity to address our clients’ ongoing needs on a number of levels. It offers the chance to consider and reassess any changes in their personal circumstances, attitude towards risk and needs and objectives.

6: Ongoing Service

Ongoing Service is a vital component for a sustainable, long-term relationship with our clients. Our comprehensive Ongoing Service incorporates annual client review meetings, regular communications such as Market Updates, invitations to client dinners and access to our expertise in addressing your needs and concerns.

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