The Initial Advice Process  (1 – 2 hours)

What will happen at our first meeting? An initial appointment will be approximately 1-2 hours. During this meeting you will:

  • Meet your Adviser and discuss your reasons for seeking advice
  • Learn about Northstar’s services, fees and advice process
  • Ask us any questions you have
  • Provide personal and financial information relevant to the services you require
  • Sign an Authority to Inquire form so that we can make enquiries on any existing investments and insurance policies on your behalf

What happens next? We will spend the next 1-2 weeks gathering information

  • We will process your Authority to Inquire forms to obtain details of your existing investments and/or insurance policies
  • We will prepare a ‘Fact Find’ document which will contain all the information you have provided to us, you will need to check and confirm all the details
  • You will need to sign and return the Fact Find and any other information we have requested, we will then start work on your Statement of Advice.

Preparation of Statement if Advice (SOA)
This is where we put all of the pieces of the puzzle together.

  • We start by researching your existing investments and/or insurance policies and comparing them with alternative products available
  • Your Adviser will review this information and outline strategic alternatives
  • We will then perform financial modelling on each strategy to determine the best outcome for you, based on your objectives
  • We will then prepare your Statement of Advice. This document will contain a detailed explanation of our strategic recommendations; how they will help you meet your goals and objectives, and the costs of implementing our advice
  • Your will receive your Statement of Advice in the mail, so you can read through it before meeting to discuss the advice with your Adviser.

Statement of Advice Presentation  (1-2 hours)
Meet your Adviser to discuss your Statement of Advice.

  • Discuss the strategic advice, as well as the specific product recommendations we have made to ensure you understand our advice
  • Discuss the costs associated with implementing the advice and receiving ongoing service from your Northstar Adviser
  • Ask us any questions you have
  • If there are any changes as a result of our discussions, we will update your Statement of Advice to reflect these changes.
If time permits, we will assist you with the completion of application paperwork during this meeting.  Otherwise, a separate appointment will be made for this purpose.

Implementation

  • We will process your application documents and continue to track their progress with the relevant companies
  • Where insurance applications are involved, we will be in contact with you if there are any medical tests required
  • You will receive confirmation from us once everything is in place
  • Our team will be available to assist you with any enquiries at any time as part of our ongoing service program.

Ongoing Advice and Reviews
As the circumstances of our lives change it is essential to review your financial plan to ensure that it is optimally meeting your need and objectives. At Northstar we believe that your financial plan should be reviewed at least annually. Factors that can affect your circumstances include:

  • the economic environment
  • investment sector performance
  • your taxation position
  • your concerns and objectives
  • investment performance
  • availability of new investments
  • estate planning issues

Our investment clients who use our Managed Discretionary Account Service (MDA) have their investment portfolio monitored and changes made as required on an ongoing basis. We recommend that our insurance clients should have their protection portfolios reviewed on an annual basis.

For all of our clients we are always available to assist with any queries, concerns or general questions about any aspect of your financial plan.  For our insurance clients we are also able to assist you at claim time, making sure that the claims process runs as smoothly as possible.