Rowe Partners Financial Planning commits to providing clients with reliable, robust & compliant advice.
Rowe Partners Financial Planning enables us to provide a comprehensive range of expert in-house financial planning & advisory services compliant with our obligations under Future of Financial Advice (FoFA) legislation.
We have partnered with Australia's leading Financial Services firms in GPS Wealth Ltd & have employed a fully qualified & highly experienced Financial Planner. Rowe Partners Wealth Advisors Pty Ltd, trading as Rowe Partners Financial Planning is a Corporate Authorised Representative 1262602 of GPS Wealth Ltd |AFSL 254544 | ABN 1700 5482 726.
Advice on SMSF, Retirement Income & Superfund contributions - what can you expect from us?
Superannuation & SMSF advice is a key part of what we do. Our ability to correctly set up financial structures on behalf of our clients has helped us to achieve improved wealth creation outcomes for clients through better tax minimisation advice.
FoFA legislation & our Authorised Representative designation means we’re required to provide detailed compliance information & controlled communication. It controls what we can discuss with clients & the way we need to discuss it. Provision of advice on the following financial products & wealth management strategies needs to occur in a formal & prescribed way.
Superannuation funds & contributions
Establishing SMSFs & rolling super balances into SMSFs or other super funds
Advice on the transition to retirement income streams
Formalised discussions & Statement of Advice (SOA)
Financial advice falls into two categories – general & personal. Both have different requirements to be considered compliant. Rowe Partners can discuss the general benefits of any super or SMSF related product without formalising the discussion. We are not able to recommend that any client establishes a SMSF without considering their personal situation first, nor can we recommend that they contribute a certain amount to super funds without formalising that advice. In both these situations & any situation where a clients’ personal circumstances are taken into account, a Statement of Advice (SOA) will be required when providing advice.
Being designated as an Authorised Representative of a group with a full AFS Licence means we have access to a range of tools & resources that will help us provide clients with better general financial advice & personal advice. However, before we can provide general advice, clients will need to sign a General Advice Disclosure Form acknowledging that the advice given was general in nature and not specific to an individuals’ financial planning needs. Clients will be provided with a Financial Services Guide (FSG) booklet & will need to sign a form acknowledging receipt.
Where personal advice is required in the areas of investment, wealth creation and management and/or risk insurance advice, the advice will need to be provided in collaboration with our financial planning partners. The advice will be developed by both Rowe Partners and GPS Wealth so that a thorough understanding of the client’s financial needs are met before providing any personal advice or developing a SOA.
Research is carried out with the aim of gathering as much relevant information & data to build the SOA so that it is as best tailored to the individual clients’ circumstances.
In order for the research to commence, clients will be asked to sign a Confirmation to Proceed to begin work on the SOA. Upon completion, the Financial Advisor/s and client will go through the SOA to ensure the client fully understands the SOA & is willing to proceed. At this stage, the client will be asked to sign an Authority to Proceed to Implement the SOA.
Is there a charge for obtaining an SOA?
Yes. Client financial circumstances vary. The amount of personal advice required & the complexity of the strategy recommended for implementation will determine the cost associated with the preparation of SOA.
Rowe Partners Financial Planning is legally bound to be transparent about all the associated costs to our clients prior to the preparation of the SOA. As previously mentioned clients will be asked to indicate their acceptance of these costs & formally engage both Rowe Partners Financial Planning to provide personal financial advice prior to the commencement of work on the financial plan (signing the confirmation to proceed).
SOA & fees are based on a service fee pricing model, not on a % of funds.
Financial advice in the FoFA world
For Rowe Partners Financial Planning, the full disclosure of costs & financial planning processes is considered an important part of our positive relationship with clients. The 2012 legislated changes to licencing practices & the costs resulting from the FoFA reforms affected the way operate but clients can be confident that the reforms & our licensed financial advisor status have created the conditions for improved wealth management outcomes & service.
Rowe Partners are authorised to provide advice on tax & accounting strategy, financial security, risk, wealth creation & retirement planning.
Important documents for your information
GPS Wealth Complaints Process http://www.gpswealth.com.au/index.php/complaints