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Frequently Asked Questions
At Lifelong Wealth, we understand that engaging a financial planner can feel like a big step, especially if it is your first time seeking professional financial advice. Below, we have answered some of the most common questions our Brisbane and North Brisbane clients ask about how financial planning works, what to expect from the process, and how our team can help. If your question is not covered here, please contact our Bald Hills office on 07 3188 5140 or visit one of our service pages for more detailed information.
A Statement of Advice (SOA) is a written document that your financial planner prepares after assessing your personal circumstances, goals, and financial position. It sets out the specific recommendations being made and the reasoning behind them. In Australia, financial advisers are generally required to provide personal advice in writing through an SOA rather than verbally. This ensures that both you and your adviser have a clear record of what was discussed, what was recommended, and why. It also provides an important layer of consumer protection. At Lifelong Wealth, we take the time to walk you through your SOA so you fully understand your financial plan before any action is taken.
General financial advice is information or guidance about financial products or strategies that does not take your personal circumstances into account. It might help you understand your options, but it is not tailored to your specific situation. Personal financial advice, on the other hand, is a recommendation made after your adviser has considered your individual goals, financial position, and needs. At Lifelong Wealth in Brisbane North, we provide personal financial advice, which means every recommendation we make is based on a thorough understanding of your unique circumstances.
To help your financial adviser understand your full picture, it is useful to bring along recent payslips or evidence of income, your most recent superannuation statements, details of any existing insurance policies, a summary of your assets and liabilities (including mortgage details, savings, and any investments), and a list of your short-term and long-term financial goals. You do not need to have everything perfectly organised. Our team at Bald Hills, Brisbane North, will guide you through what is needed and can help gather any additional information after the meeting.
All financial advisers in Australia must be registered on ASIC’s Financial Advisers Register, which you can search online. This register shows an adviser’s qualifications, the areas they are authorised to advise on, and the Australian Financial Services Licence (AFSL) they operate under. Lifelong Wealth Holdings Pty Ltd is a Corporate Authorised Representative of RI Advice Group Pty Ltd (AFSL 238429). Our advisers hold recognised qualifications and meet the ongoing professional development and ethical standards required by law. You can verify our details on the ASIC register at any time.
A Financial Services Guide (FSG) is a document that your financial adviser is required to provide to you at or before your first appointment. It outlines who the adviser is, the services they are authorised to provide, how they are paid, any associations or relationships that could influence the advice, and how to make a complaint if you are not satisfied. At Lifelong Wealth, we provide our FSG at the start of our relationship so you have full transparency about how we operate before you make any commitment.
Once your Statement of Advice has been prepared, your financial adviser will meet with you to walk through the recommendations in detail. You will have the opportunity to ask questions, request changes, and make sure you are comfortable before agreeing to proceed. Once you give the go-ahead, your adviser will help implement the strategies, which may include setting up or adjusting investments, superannuation, or insurance. From there, your financial plan is reviewed on an ongoing basis to ensure it continues to align with your goals as your circumstances and the market evolve. Our Brisbane North team provides regular reviews as part of our ongoing advice service.
Yes. Lifelong Wealth takes your privacy seriously and is bound by the Australian Privacy Principles under the Privacy Act 1988. Any personal and financial information you share with us is kept strictly confidential and is only used for the purpose of providing you with financial advice. We will not share your information with third parties without your consent, unless required to do so by law. You can view our full Privacy Policy on our website or request a copy from our Bald Hills office.
While our office is located at 9 Bald Hills Road, Bald Hills, in Brisbane’s north, we are happy to meet with clients via video call or phone for those who are unable to visit in person. We work with clients across Brisbane, North Brisbane, Strathpine, and the wider Queensland region, and remote appointments are available for all stages of the advice process, from the initial meeting through to ongoing reviews. Whether you prefer face-to-face or virtual, the quality and depth of advice you receive is the same.
The timeline varies depending on the complexity of your situation and the scope of advice you need. As a general guide, after your initial meeting, it typically takes between two to four weeks for your adviser to research your options, prepare your Statement of Advice, and present the recommendations to you. More complex situations involving multiple areas of advice, such as superannuation, insurance, and retirement planning together, may take a little longer. Once you approve the plan, implementation usually begins promptly. Our team at Lifelong Wealth in Bald Hills will keep you informed of progress at every stage.