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Working With Provident
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| Can anyone see a Financial Planner or is this service only for the wealthy? |
Not at all – anyone can see a Financial Planner. Financial planning is a journey, not a destination. Financial planning is an effective means of creating wealth even if you are only starting out. Our philosophy is that the small changes you make to your financial affairs today can reap benefits in the future. Just as a pebble cast into the water creates ripples that expand wider and wider, so can your financial independence. Having discipline, commitment and professional advice is the first step in the process.
Today's legislative issues and rapidly changing markets mean that it is becoming more and more difficult to make the right financial choices without professional advice. Developing a relationship with a financial planner who understands your options can help you make the most of today's financial complexities. |
| I only want to see a female Financial Planner. Can you do this? |
| We have particular expertise in advising women and we have female Financial Planners from whom you can seek advice. Our concern for the needs of women brings them to us as clients. We know that women’s financial needs are different – in ways that make good advice imperative.
If you would like to see a female Financial Planner who understands the financial planning needs of women, we can help. |
What is the process?
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| See our process |
| What do I need to bring to my first appointment? |
To ensure that we both get maximum value from the time available, we recommend that you bring the following (where applicable):
- Details of your Superannuation (statements) and any other investments;
- A list of your loans such as mortgage, personal loans and credit card (statements if available);
- Your last tax return and copies of your pay slips;
- Copy of your personal budget if you have one;
- Copy of your driver’s licence
- Anything else you think might be relevant, i.e. Wills, Home and Contents Insurance.
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| Do you only offer AMP products? |
| Provident Financial Services is authorised by AMP Financial Planning Pty Limited; however this does not necessarily result in recommendations for only AMP products. We have a diversified product and services list approved by AMP Financial Planning, from which we can choose an appropriate range of investments for our clients. While other products are available on the approved list, of course, many of the products are offered by AMP. |
| Do I have to come to your office? |
We are very flexible. If you are not able to make it to our office, we will be more than happy to come to your home or workplace.
For directions to our office, click here. |
| How long will the process take? |
The end to end financial planning process can potentially take several weeks depending on the complexity of your individual situation and the extent of advice we are providing. However, the majority of this time is taken up with research, strategy development and preparation of advice documents. The time spent with you will generally include 2 – 4 meetings of up to 2 hours at a time.
To gain a better understanding of our financial planning process, please click here to view our step by step process. |
| The questions and answers outlined in this section contain general information only. They do not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances and speak to a financial planner. Flexible Lifetime Super and CustomSuper are issued by AMP Superannuation Limited ABN 31 008 414 104, AFSL 233060. Please consider the Product Disclosure Statement (PDS) for the relevant product before deciding whether to buy or keep the product. The PDS is available from Provident, (08) 9442 0000 |
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| Financial Plans - Terms / Strategies |
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| What is a Transition to Retirement (TtR) income swap strategy? |
| TtR stands for Transition to Retirement. A TtR income swap strategy is a common strategy now used by individuals once they reach age 55 years and are still working. The strategy involves accessing your superannuation benefits in the form of a regular income which is provided in a very tax effective way, to compliment your take home pay. Speak to your Provident financial planner for further details |
What is debt recycling?
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| Debt recycling is a strategy which aims to accelerate the reduction of your personal (non-deductible) debt by converting it to, or recycling it as investment debt. This strategy involves borrowing to invest which is a strategy with a number of significant associated risks; therefore you must seek professional advice from a Provident financial planner to determine whether this is appropriate for you. |
| How do I make a budget? |
| There are a number of online budgets however they are of little use to you unless you keep accurate records of your spending habits.
Once you have established your budget, revisit it regularly so that it keeps up to date with your changing circumstances.
A strong budget is a good foundation around which to build a financial plan. Seek advice to ensure that yours is properly constructed. |
| The questions and answers outlined in this section contain general information only. They do not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances and speak to a financial planner. Flexible Lifetime Super and CustomSuper are issued by AMP Superannuation Limited ABN 31 008 414 104, AFSL 233060. Please consider the Product Disclosure Statement (PDS) for the relevant product before deciding whether to buy or keep the product. The PDS is available from Provident, (08) 9442 0000 |
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| About Financial Planning |
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| What does a Provident financial planner do and what are the benefits? |
| Provident Financial Planners assist our clients in three ways;
1. PLAN
Planners will first meet their clients; establish a comprehensive view of their current personal and financial situation.
A part of the process will be establishing the clients’ goals and objectives in a wide range of areas including
- Retirement Planning
- Investment strategies
- Wealth accumulation
- Debt consolidation
- Insurance and protection issues
- Estate Planning
- And many more.
This is Provident’s PLAN Stage.
2. HELP
Once a client’s situation and objectives are known it is Provident’s commitment to provide holistic advice, address all areas and provide solutions that will place the client on a path to achieving their goals and objectives. This is our “HELP” phase where Provident‘s financial planners help clients understand strategies that have been put in place.
3. ACHIEVE
The financial planner and client relationship does not finish at the delivery of advice stage. A review relationship is then required so that strategies remain on track, meeting at predetermined times, making adjustments where necessary to assist the client in achieving their desired outcome. |
| Can anyone see a Provident financial planner and how much money do I need before I consider seeking professional advice? |
| Anyone can see a Provident financial planner. There is no specific amount of money someone should have before seeking the professional services of a Provident financial planner. In fact, one of the key roles of a financial planner is to provide a financial health check to make sure each client is on track, or at least has considered how they can achieve their financial and personal goals and objectives. These objectives are many and varied and often involve goals that are not specifically financially based.
As a result, Provident financial planners aim to outline the true value of the advice we provide which may include achieving a comfortable retirement, taxation savings, personal insurance protection, gaining government assistance and/or the discipline of budgeting, just to name a few. |
| The questions and answers outlined in this section contain general information only. They do not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances and speak to a financial planner. Flexible Lifetime Super and CustomSuper are issued by AMP Superannuation Limited ABN 31 008 414 104, AFSL 233060. Please consider the Product Disclosure Statement (PDS) for the relevant product before deciding whether to buy or keep the product. The PDS is available from Provident, (08) 9442 0000 |
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| Superannuation |
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| How do I find my account balance? |
| You can view your account balance, register online.
To register for this service:
- Go to the AMP address: www.amp.com.au
- You will find the link to register at the top right hand corner.
- Click on ‘register’
- Answer all questions as asked.
If you have any technical problems you may wish to call AMP on 1300 300 465 |
| How much Superannuation is enough? |
This is a question often raised and certainly one that many people start to consider at various points in their lives. In turn, it is a difficult question to answer as the amount you may need in superannuation to assist with your retirement depends on many things, such as:
- The age you would like to retire
- The income you would like in retirement (think about holidays as well)
- The time frame you would like this superannuation to last
We recommend you seek advice from a Provident financial planner to help you answer this question in light of your personal circumstances. One way of helping you determine a possible amount is to click on this superannuation calculator |
| What happens to my AMP Custom Super plan when I leave my employer? |
| The AMP Custom Super plan is an employer plan, so once you cease employment, AMP will transfer the funds into a Personal AMP Flexible Lifetime Superannuation plan. |
| What happens to my AMP Custom Super plan when I leave my employer? |
| The AMP Custom Super plan is an employer plan, so once you cease employment, AMP will transfer the funds into a Personal AMP Flexible Lifetime Superannuation plan. |
| How do I provide my new employer my Super details? |
| If you are eligible to choose a superannuation fund of your choice, you will be required to complete the - Choice of Superannuation fund form, as well as Part B of the Standard Choice form that your new employer will provide to you. |
| When can I access my super? |
| In order to access the money held in your superannuation fund you must be able to satisfy a 'Condition of Release'. For more information on conditions we recommend you speak to your Provident financial planner. |
| When can I qualify for the government Age Pension? |
To qualify for the government Age Pension, you must first satisfy the age and residence requirements.
The amount of Age Pension payable to you by Centrelink, then depends on your income, assets and other circumstances. For general information refer to www.centrelink.gov.au |
| The questions and answers outlined in this section contain general information only. They do not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances and speak to a financial planner. Flexible Lifetime Super and CustomSuper are issued by AMP Superannuation Limited ABN 31 008 414 104, AFSL 233060. Please consider the Product Disclosure Statement (PDS) for the relevant product before deciding whether to buy or keep the product. The PDS is available from Provident, (08) 9442 0000 |
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| Home Loans and Lending |
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| Do you only offer AMP products? |
| With access to a diverse range of loan packages from some of Australia’s leading banks and financial institutions, we are able to tailor solutions to your individual needs. |
| What is debt recycling? |
| Debt recycling is a strategy which aims to accelerate the reduction of your personal (non-deductible) debt by converting it to, or recycling it as investment debt. This strategy involves borrowing to invest which is a strategy with a number of significant associated risks; therefore you must seek professional advice from a Provident financial planner to determine whether this is appropriate for you. |
| How do I make a budget? |
| There are a number of online budgets however they are of little use to you unless you keep accurate records of your spending habits.
Once you have established your budget, revisit it regularly so that it keeps up to date with your changing circumstances.
A strong budget is a good foundation around which to build a financial plan. Seek advice to ensure that yours is properly constructed. |
| How much can I borrow? |
| This depends on several factors, such as your income, the amount of your equity in the property over which the loan is to be secured, your current assets and how much you have for a deposit. To obtain further information on how much you can borrow, contact your Provident Strategic Lending adviser. |
| Should I fix my interest rate? |
This is a complex question and must be based on your individual situation.
You need to truly understand your current cash-flow, and the mechanics of your loan should you lock in the rate. Other aspects you will need to consider are break costs, how long you intend to hold the property or what your thoughts are on interest rate movements and the domestic economy. To find out if fixing your loan is suitable for your current situation contact your Provident Strategic Lending Adviser. |
| What are the benefits of getting advice on your General insurance, Financial Planning and Lending needs in the one place? |
| By having all of your financial needs looked after in the one place, you can save time by having a single point of contact, dealing with someone who knows and understands your personal situation. It allows your financial planner to provide holistic advice, ensuring that your financial plan is secure and appropriate and compliments each area of your financial position. It also allows all areas of your financial situation to be reviewed at the same time. In some cases it can also save you money with discounts offered from time to time. |
| The questions and answers outlined in this section contain general information only. They do not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances and speak to a financial planner. Flexible Lifetime Super and CustomSuper are issued by AMP Superannuation Limited ABN 31 008 414 104, AFSL 233060. Please consider the Product Disclosure Statement (PDS) for the relevant product before deciding whether to buy or keep the product. The PDS is available from Provident, (08) 9442 0000 |
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