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Financial Planning

About Citiwide’s Financial Planning service

Citiwide’s Financial Planning services are operated through our fully owned subsidiary, Citiwide Financial Services Pty Ltd. The company is a licensee of MLC, one of Australia’s largest wealth management and insurance group owned by the National Australia Bank.

Utilising the resources and management experience of MLC, Citiwide Financial Services is able to offer you a choice of insurance and investment products from 7 of the most competitive insurance companies in Australia.

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How can a Citiwide Financial Planner help you?

A comprehensive service

A Citiwide Financial Planner provides financial advice on a broad range of issues affecting the way you live today and the way you want to live tomorrow.

Life Insurance and income protection

Having sufficient insurance to protect your family and your assets against unforeseen circumstances is crucial. A Financial Planner can structure the right mix of cover for your needs and specific circumstances.

Income protection can replace up to 75% of your regular income if you cannot work due to injury or illness. Premiums are also generally tax deductible, depending on your individual circumstances.

Trauma Cover

Trauma Cover pays a lump sum if you suffer from one of the specified major diseases or injuries covered such as a heart attack, stroke, cancer or blindness.

It has been designed to provide a benefit to help you cover medical and rehabilitation costs, and to help with lifestyle and employment changes.

Protecting your loan repayments

This is protection for you and your loan repayments.

Most people realise the important role life insurance plays in protecting their family's lifestyle. Who would be responsible for your debts if you were no longer around?

If you have a home loan, you can protect your repayments with the appropriate cover if you should die, become disabled, or involuntarily unemployed.

Ask our Adviser for more information on uniquely designed products to protect your loan repayments.

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Tax effective investing

You may want to start a savings plan, supplement your income or grow your existing portfolio. You should consult both your Financial Planner and tax adviser to understand any potential risks involved in your investment decisions and the tax implication of these.

Superannuation

Whether you want to start investing in superannuation as a long-term savings plan, roll over an existing super fund or even run your own super plan, a Citiwide Financial Planner can help you understand your options and recommend effective strategies to meet your retirement goals. When you’re ready to retire, they can also help you invest your savings.

Borrowing to invest

Also known as gearing, this can be a powerful strategy as part of your financial plan. Gearing can work to grow your financial assets faster than may be possible through more conventional investments. It involves a degree of risk, so a Financial Planner can suggest the level of gearing that would be right for you.

What are the benefits of seeing a Citiwide Financial Planner?

Citiwide Financial Planners:

  • Access the combined strength of MLC’s customer focus, advice and investment expertise
  • Are qualified professionals
  • Must adhere to strict professional standards
  • Can help you develop and manage a personal financial plan to meet your short and long term goals.

A personal financial plan

There is no such thing as a standard financial plan. Everyone has different needs, time frames and financial goals. A Citiwide Financial Planner takes the time to understand your situation and your goals. They work with you to devise a financial strategy to help you achieve them. This may include a suggested range of different investment and insurance solutions. How long it takes to put your plan together depends on how complex your situation is. What’s important is that you get the right advice.

What about fees?

All fees are fully disclosed in writing and agreed upon before any financial plan is implemented. Details of fees payable in respect of investment, superannuation or insurance products are also set out in the Product Disclosure Statements that are provided for particular products. This is to ensure you receive no surprises or unforeseen charges.

Citiwide provides a flexible as well as transparent fee structure. Consultations with a Citiwide Financial Planner and the creation of financial plans are obligation free.

What can you expect from your appointment?

It’s a two way process

The kind of appointment you have with a Citiwide Financial Planner will depend on whether you want a comprehensive financial plan, or just advice limited to a particular situation. However, there are a number of stages you will work through together:

These include:

  • Discovery a Citiwide Financial Planner will take the time to get to know you and understand what your current financial position is, as well as your aspirations.
  • Strategy using the information gathered, a Citiwide Financial Planner will develop a financial strategy based on your individual needs, and then structure a financial plan to meet those needs.
  • Recommendations you will be provided with a written report, which outlines your current position, a recommended financial strategy and any fees.
  • Implementation once the plan is "fine-tuned" to your satisfaction and approval, a Citiwide Financial Planner can help you implement it.
  • Reviewing as your life changes it may be necessary to review your plan and make the necessary adjustments, so your strategy stays on track.

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How can you make the most of your appointment?

Be prepared and know what you really want from your appointment.

To make the most of your time with a Citiwide Financial Planner, there are some things you should consider before you make an appointment.

What do you want to achieve financially and personally?

Whatever your specific needs, you should also have some understanding of what your personal financial goals are. Knowing this will help your Citiwide Financial Planner gain a clearer sense of what you’d like to achieve. After all, it’s only when you have a clear vision of your goals that you can truly aim for them.

How soon do you want to achieve your goals?

Addressing the reasons behind why you want to invest will help determine your investment time horizon. For example, saving for a deposit on a home requires short-term investments. Investing for retirement calls for longer-term investment strategies. How much time you have until retirement will determine the type of investments that are right for you.

Are you, your family and your lifestyle protected against the unexpected?

While most people insure their homes, health and cars, many don’t protect themselves against an unexpected loss of income. Your ability to generate income is your greatest asset. Think about how you and your family would manage without it. It is also important to consider the financial hardships that may arise for your family, should something happen to either yourself or your partner. Life insurance helps to alleviate these financial concerns.

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A Citiwide Financial Planner can help you decide the type and level of personal insurance cover that’s appropriate for you.

A good starting point is to draw up a list of your assets and liabilities and their current values, your cash flow, and the cost of any forthcoming commitments. A Citiwide Financial Planner can help you with this.

What do you expect from your investments income, growth or both?

Generally, the higher the return on an investment, the greater the risk. Everyone’s tolerance of risk is different, so it is important that you feel comfortable with the investments you make. A Citiwide Financial Planner can help you determine what degree of risk you’re prepared to tolerate in order to meet your needs and goals, and then look at a balance of growth and income investments that match this. Then they can create a financial plan that’s tailored to achieve your personal goals. It will minimise your exposure to risk and market volatility.

What to bring to your first appointment?

Bringing appropriate documentation to the appointment will help your Citiwide Financial Planner make the most of your time together.

Here is a brief checklist of information and documents to bring:

  • Recent pay slips
  • Recent pay slips for your partner if you are looking at joint investments
  • Existing Superannuation statements
  • Loan and Credit Card statements
  • Insurance policies / statements
  • Information related to current investments
  • Any other personal budget information (expenditure along with assets and liabilities)

How to contact us?

To make an appointment please call (03) 9326 6300 Monday to Friday 9:00am to 5:30pm EST

Or email us to: planning@citiwide.com.au

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