Hello! Navigating the world of financial advice can seem complex, so we’ve put together this quick guide to give you a snapshot of who we are, what we do, and how we work.
Think of this as the highlights reel – for all the finer details, please refer back to “Your Comprehensive Guide to Arrowroad Financial Planning” that we provided earlier.
Who We Are and Who Helps You
You’ll be working directly with Arrowroad Financial Planning Pty Ltd.
We’re passionate about helping you achieve your financial goals, whether big or small, and making sense of the financial world in plain English.
Legally speaking, Arrowroad is authorised to provide advice by our licensee, Platinum Wealth Advisory Pty Ltd (AFSL 558788). This means Platinum oversees our work to ensure everything meets regulatory standards.
Your main point of contact and adviser here is Mark Opie, the Director and Principal Financial Advisor at Arrowroad, who has been helping clients since 2004.
What We Can Help With
Mark is authorised to provide advice on a wide range of areas, including:
- Building wealth
- Planning for retirement
- Superannuation strategies
- Insurance needs (like life or income protection)
- Managing cash flow and debt
- Investment strategies
We generally recommend products from an Approved Product List (APL) curated by our licensee, Platinum. This list contains products they’ve researched and believe are suitable, and Platinum states they don’t have direct ties with product issuers, aiming for recommendations in your best interest.
How We’re Paid: Fees and Commissions
Transparency is key! How we get paid is fully detailed in the formal documents you’ll receive, especially the Statement of Advice (SoA), and also in the Comprehensive Guide.
Essentially, payment comes from:
- Direct Fees: You pay these for the advice and service. Examples include:
- An initial consultation fee ($440/hour).
- A fee to prepare your financial plan (Statement of Advice), ranging from $545 up to $16,500 depending on complexity.
- Fees if we help implement investment recommendations (often a percentage, like 0% to 5.5%).
- An ongoing annual fee for reviews and management, which could be a percentage (e.g., 0.5% – 1.5% of funds) or a fixed amount (ranging from $2,950 up to $16,500 per year).
- Commissions: For insurance products, the insurance company pays us a commission (e.g., up to 66% of the first year’s premium and up to 33% ongoing).
Platinum (our licensee) receives all fees and commissions first, keeps a portion (0-40%), and passes the rest to Arrowroad. Because we may receive commissions, under Australian law, we can’t use terms like “independent” to describe our advice, even though our primary duty is always to act in your best interest.
The Process: Working Together
To give you personal advice, we first need to understand you – your goals, financial situation, and needs. This usually involves filling out a questionnaire. Based on this, if personal advice is given, you’ll receive a Statement of Advice (SoA).
This crucial document details our recommendations, why we’re making them, and all associated fees and commissions. If we recommend specific products (like managed funds or insurance), you’ll also get a Product Disclosure Statement (PDS) from the product issuer, outlining its features, risks, and costs. Please read these carefully!
Your Protections: Privacy and Complaints
- Privacy: We take protecting your personal information very seriously, following Australian Privacy Principles. The full policy is available via our licensee, Platinum.
- Complaints: If you’re ever unhappy, please talk to Mark first. If that doesn’t resolve things, you can contact Platinum’s Complaints Officer. If you’re still not satisfied, you can escalate the complaint to the Australian Financial Complaints Authority (AFCA), a free, independent service.
Platinum also holds Professional Indemnity insurance, covering the advice provided.
The Real Value of Advice
Working with an adviser isn’t just about numbers. While research (like Vanguard’s “Adviser’s Alpha”) suggests advisers can add value through things like smart asset allocation and cost-effective implementation, a huge part is the behavioural coaching – helping you stay calm and stick to your plan during market ups and downs. It’s also about peace of mind and confidence in your financial future.
Want to Know More?
This was just a quick overview! For the complete picture, please revisit the “Your Comprehensive Guide to Arrowroad Financial Planning”.
If you have any questions at all, please don’t hesitate to reach out to Mark Opie at mark@arrowroad.com.au.
We look forward to partnering with you!
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