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FAQs

Q. How do I become a client of Wright Planning?
A. The firm has a policy that the first interview is free of charge. This means anyone who needs financial advice is welcome to contact us and make an appointment. It will be from this point that we both work out whether Wright Planning is the right choice for your needs and whether we can help you. The interview is the critical part of the process and you cannot become a client without having the interview. The interview helps us to start the process of determining whether we are a good fit for each other.

Q. What is your experience and qualifications?
A. I started in the industry in 1986 selling life insurance with National Mutual Since then I have worked with Davey and associates as a financial planner before moving to Westpac as a regional sales manager. In 1993 I began as Director for Financial Planning for KPMG Financial Services. I left in 1996 as a partner equivalent at KPMG.

I began Wright Planning in 1997. I have an a fellow of FINSIA, a graduate of the Australian Institute of company Directors, Certified Financial Planner, BA and I have a number of teaching qualifications.

Q. What are the benefits of receiving advice from Wright Planning Pty Ltd?
A. My extensive knowledge of financial planning allows me to develop a strategy that uses my expertise combined with my understanding of the clients circumstances to meet their needs both on a long term and short term basis.

Q. How do you charge?
A. We charge on an hourly basis of $300 per hour plus GST. This is charged in advance. For example over a 1 year period I might assess that it will take 20 hours of work. Therefore the fee would be $6000 plus GST. All commissions are rebated except for insurance and then the commissions is disclosed and we talk about what fee might be appropriate. Then the rest is rebated back to the client.

Q. Where are your clients located?
A. Majority of our clients are located all over Melbourne, however I have clients in Sydney, Tasmania, Queensland and Perth. I have had clients in the US for extended periods of time and I have had US citizens as well.

Q. What is a financial plan?
A. In our practice a financial plan is like a street map it summarizes where you are and where you want to go and most importantly how you might get there.

It will focus on where the client is in all aspects of their financial life and makes certain assumptions about their earnings, expenses and saving capacity before showing the client how much they have to retire on. It will indicate whether they will have extinguished their debt and how much their investments both non super and super will generate in income. We will discuss whether the client will be able to retire at a certain age.

Most importantly we will be able to focus on the lifestyle issues of whether the client wants to retire, what sort of things they want to do in retirement and whether a phasing in strategy is appropriate.

The plan will also talk about the risk management issues. The amount of insurance they need and the way their will should be structured. This is dependent on your age, what happens if you are in an accident or you fall seriously ill.

Q. How will your plan be completed if your capacity to work is restricted?
A. Our plan is about taking into account all aspects of your life and making sure we manage your money in the most effective way and ensuring it is a living document.

Q. Does age, gender, current financial status or number of dependants matter?
A. No not at all. Once we have agreed to a fee scale, you will be expected to pay for the work within 14 days.

Q. What about privacy?
A.Your privacy is very important to us. All documents are held in storage units which are locked. Our computer systems are well guarded by passwords, and we back up our files every night.

Q. Do you provide tax accounting services?
A. We provide tax advice re: superannuation and investments and gearing, however we do not have a tax preparation service.

Q. Where can I find you?
A. Our office location, map and contact details can be found on our Contact Us page.

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