The planning process

Our financial planning process is structured to make seeking advice straight forward and transparent. A NAB financial planner will work closely with you at each stage of the process so that they have a full understanding of your personal situation and lifestyle goals and can develop a plan suited to your needs.

Understanding your situation

The first meeting is free of charge; it is about meeting a NAB financial planner, understanding your current situation and financial goals, and working out how financial advice can benefit you. If you decide to proceed, we will discuss all fees and charges with you at this point.

Developing the right plan for you

With a clear understanding of your situation, your NAB financial planner will work on developing the appropriate strategies to help you achieve your financial goals.

Presenting the strategy recommendations

Your NAB financial planner will arrange a meeting with you to take you step by step through their recommendations, which will be outlined in a document known as a Statement of Advice.

In this meeting your NAB financial planner will explain the details of the Statement of Advice, demonstrate how it achieves your goals, and answer any questions you have.

Your NAB financial planner will also fully disclose any associations they have with financial product issuers or other parties, and any advice fees and commissions. If a specific financial product is recommended, you’ll also be provided with a Product Disclosure Statement so that you can make an informed decision.

Putting plans into action

Once you give the go-ahead, you and your NAB financial planner will implement the plan together. This may involve you setting up the investment and insurance products recommended in your plan, and your planner working with other specialist professionals, such as your banker, accountant or solicitor where necessary.

Evaluating progress and updating your plan

At NAB Financial Planning we understand that your financial plan isn’t a one off solution. Your circumstances, lifestyle and financial goals will change over time, and therefore it’s important your financial plan stays in step and, if other things change, it does too.

At regular intervals you and your financial planner can review progress towards your financial goals. This helps you decide if your plan needs to change. It also gives you an opportunity to review any new financial products or services, and look at any changes to legislation or taxation that may impact you.