Our advice process
Your 6 Step Guide to Financial Wellbeing
We want you to understand what happens at every stage of the advice process, what we need from you and when you are being asked to make a decision. You stay in control throughout.
A clear process, with a decision at each stage
Your initial consultation helps us understand your financial goals. If you want to continue, we explain the proposed scope of advice and estimated cost before you decide whether to proceed.
You then have further opportunities to ask questions before agreeing to the advice and implementation.
Visual overview
See the advice process at a glance
If you prefer to see the whole journey visually, this overview shows the six stages from your initial consultation through to implementation and reviews.
If you think visually
Use the image above as your quick map of the six stages.
If you think step by step
Use the detailed section below. Each stage explains what happens, what HFI does and what you decide.
If you think in decisions
Look for the highlighted decision boxes in the detailed steps below. They show the points where you choose whether to move forward.
The six steps in detail
Your advice journey
Engagement
Your first step is an initial consultation. Before the appointment, you complete the client questionnaire and pay the consultation fee. The consultation gives us the opportunity to understand your financial goals, circumstances and the issues you want help with.
Scope of Advice
If you would like to continue, we prepare a scope of the advice and an estimate of the cost. You can ask questions so you understand what is included before signing the scope and committing to the next stage.
Consultation fee rebate: where applicable under HFI’s current fee arrangements, the consultation fee may be rebated. The exact treatment will be explained in the scope and cost estimate provided to you.
Statement of Advice (SOA)
Once you have agreed to the scope, we research the relevant options, consider your circumstances and prepare your Statement of Advice. The SOA sets out our recommendations and the reasons for them.
Presentation
We meet with you to discuss the Statement of Advice and answer your questions. This is your opportunity to give feedback and make sure you understand the recommendations before agreeing to proceed.
Implementation
If you decide to proceed, you sign the implementation paperwork required by the Statement of Advice. HFI then implements the agreed recommendations and sends you confirmation as the relevant steps are completed.
Reviews
For ongoing clients, we review your position with you over time. Reviews can also be arranged as needed when your circumstances change or you want advice on a new financial decision.
Your first appointment
What to expect at your first appointment
Every client comes to HFI for a different reason. The first appointment is about understanding your situation, the decisions you are facing and whether further financial advice would be useful.
For all clients
Your initial consultation is focused on understanding:
- what has brought you to HFI and the help you are looking for
- your financial goals, priorities and immediate concerns
- the key financial information relevant to your situation
- any important decisions, deadlines or issues that may need attention
- whether further advice is appropriate and what the next step would involve
General information first
During the first meeting we can explain the issues relevant to your situation at a general level and answer questions about HFI’s advice process.
If you would like personal recommendations about what to do next, the scope of that advice will be agreed with you before we proceed. Product or strategic advice is provided in writing so that the recommendations, reasons and costs are clearly documented.
What to send us: The information we need before your appointment depends on why you are seeing us. We will let you know what documents are relevant when your consultation is arranged.
Accepted TPD claims
Additional information for TPD clients
The following applies specifically if you are seeking financial advice after a TPD claim has been accepted. It is separate from the general first appointment information above.
What the TPD appointment is for
- confirming what has been approved and what it means in plain language
- explaining the payment process and likely timeframes
- outlining the decisions you may face once the benefit is paid, so you feel prepared
- agreeing on the next steps and what information we will need from you
What we will cover
- How and when payment will happen, including anything that could delay it
- Where the money will be paid, often via your super fund first and then to you
- Any paperwork still required before payment can be released
- Important things to be aware of once funds arrive, such as budgeting, debts, and tax or Centrelink considerations at a general level
A quick note about TPD advice: In this first meeting we provide general information only. If you would like recommendations about what to do next, for example changes to super, insurance, investing, debt strategy or other financial decisions, HFI can help. Any product or strategic advice must be provided to you in writing so that it is clear, documented and compliant.
Please send before your TPD consultation
Where available, please send:
- TPD acceptance letter showing your approved claim and tax breakdown
- Date of disability
- Eligible service date (ESD)
- Your date of birth
TPD information sheet
We also provide an information sheet for accepted TPD clients so you can review the payment process and come prepared with any questions you would like to discuss.
Ready to talk about your situation?
Your first appointment is about understanding where you are now, what decisions are ahead and whether HFI is the right fit to help.
General information only. This page explains HFI’s general advice process and does not constitute personal financial advice. The exact scope, documents, fees and implementation requirements depend on the services you engage HFI to provide.