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A financial plan isn't just about setting a budget. It doesn't even have to be about becoming seriously wealthy. It's about taking a more structured long-term view of your life, how you want to live it and putting the financial wheels in motion to achieve it. That's where a Westpac Financial Planner can assist in what is essentially a four-step collaborative process.

Step 1. Initial meeting – understanding your current situation and goals

This session is simply about getting your bearing. You'll likely discuss your current financial situation and budget as well as articulate:

• What you want to achieve
• Your approach to investing

Step 2. Recommended strategies and advice

Taking all the data from Step 1, your planner will devise a set of tailored strategies and recommended actions designed to help you to meet your financial and lifestyle objectives. It may cover such areas as:

• Wealth creation
• Superannuation and retirement planning
• Wealth protection
• Estate planning

Step 3. Implementing your financial plan

This involves putting the agreed strategies and advice into practice. It will likely consist of setting up new, or transferring existing investments. Depending on your attitude to risk, borrowing to increase your pool of investment funds may also be considered, along with:

• Consolidating superannuation accounts
• Establishing regular contributions and wealth protection policies

Step 4. Regular reviews – ongoing service and advice

Times change. So does your attitude, aspirations, situation as well as financial markets. Accordingly, your plan should be a constantly evolving strategy. Review meetings with your planner should therefore become a regular occurrence.

As part of this ongoing collaborative relationship you will receive personalised reports to help you monitor your investments and thus ensure your financial objectives, whether they change or not, remain in focus and on track.

Your Westpac Financial Planner

Now knowing what to expect when seeing a planner and appreciating the value and expertise they can provide, it makes good 'cents' to engage the services of a Westpac Financial Planner. Apprised of the latest industry requirements, options and products, they can tailor strategies to suit your individual circumstances.