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Do you need an ongoing relationship with a financial adviser?

At Valley Mayfair Wealth Management, we are not transactional Financial Advisers. We check in every year and ensure that we understand any changes that have occurred in your life and that our advice can be adjusted based on those changes.

Financial Advice
Do you need an ongoing relationship with a financial adviser?

At Valley Mayfair Wealth Management, we are not transactional Financial Advisers. Our advice is provided on the basis that we have an ongoing relationship with our clients.

 We check in every year and ensure that we understand any changes that have occurred in your life and that our advice can be adjusted based on those changes.

From our perspective, it’s important to ensure that we stay up-to-date with what’s happening in your life to ensure that we can comfortably say our advice to you is fit for purpose. There’s no point, for instance, providing you advice as a single person and expect that the advice would remain relevant once you are married, have children or have a mortgage. Things have changed in your life and the advice needs to change along with it.

Financial advice is usually provided with long-term goals in mind. Maybe it’s to retire in 15 years, to pay off your home in 20 years, or just save enough to pay for your children’s university costs. So the advice may be provided today but the financial goal is many years into the future.

An ongoing financial advice relationship is needed to ensure that you remain on goal regardless of changes to you or rules around superannuation and tax.

There’s no point accepting advice where the payoff is in 15 years and not looking at it or benchmarking it against the goal every year. What if you reach the 14th year and realise that you are nowhere near that goal and it is too late to make any adjustments? However, if checked each year if you are slightly under or over the projections, then only small adjustments would be required to get you back on track.

At Valley Mayfair Wealth Management, the expectation is that clients want to enter into an ongoing relationship with us. That’s why when the initial advice is provided to you, it will contain information about our ongoing advice service and the cost of that service.

Each year, you sign up to remain as financial planning clients. We give you this option as we don’t want you to feel compelled to remain with us.

We want you to readily agree to receive our ongoing advice. This in turn ensures that you will receive the best service and advice as we move forward each year until you reach your ultimate financial goal.

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