Wealth Solutions: FAQs
What experience am I getting?
Focus is a pioneer in innovative financial services. Focus Director and founder Peter Smith has been in the industry for over 20 years providing growth strategies to a broad spectrum of investors, primarily focussing on high net worth individuals. Focus is a large non institutionally aligned firm and all of our Private Wealth Strategists are accredited professionals with a range of experience in the Financial Services field. When you join Focus you not only have a dedicated Private Wealth Strategist looking after you but also a dedicated Focus Client Service Officer. Furthermore, Focus has key strategic partners nationwide across all professional industries. These three factors allow you the 'peace of mind' to know that you are receiving unparalleled financial advice, service and access to unique investment opportunities.
What industry accreditation does Focus have?
Focus is a representative of Australian Financial Services Limited, an advisor owned national financial planning group. AFS is a member of the Financial Ombudsman Service (FOS), an independent body approved by the Australian Securities and Investments Commission (ASIC) to deal with complaints against any members.
What fees and charges can I expect?
Our fees and charges are completely transparent. Upon engaging us as your partners in financial development we provide you with a Focus Financial Services Guide. This guide details our experience, associations, fee and charge structure, privacy policy and what to do if you have a complaint.
How does the initial process work?
- Once you have been referred to our firm you are invited to attend a preliminary meeting with one of our Private Wealth Strategists at no obligation.
- Together we will establish precisely what you want from us and reach agreement on the Terms of Engagement - the contract relating to our services.
- We will discuss and request you provide us with all necessary information to properly provide our service.
- We will analyse and evaluate your current financial status.
- We will develop and present our strategy recommendations.
- We will discuss these recommendations with you in detail, and make any changes you request.
- An agreement is reached and action is approved by you.
- Implementation begins. Focus will play a proactive role in liaison with other related industry professionals assisting you with the restructure on all levels.
- Depending on the level of management and control you'd like us to take, we will monitor your financial situation in accordance with our regular review procedures and provide updated advice as necessary. Although we will help you to consider these matters at the appropriate time, you bear the prime responsibility for advising us of any change to your circumstances and of the potential for any advice we provide at the time of a review to be inappropriate to the general financial well-being of you or your family.
How involved is Focus in management and control of my portfolio?
Some clients request receiving a comprehensive service where Focus develops a complete strategy across all aspects of a client's financial arrangements. Other clients prefer only one aspect of their financial life analysed. Similarly, clients also have different requirements in levels of input and control. Our service is transparent and an open dialogue is encouraged as a necessity to establish individual needs.
What happens if I don't provide all the necessary information or provide incorrect information?
Whether we are providing you with a comprehensive plan or advice limited to a specific event, it is vital that you give us as much accurate information as you can. Without that information our advice may be inappropriate.
If we believe that the information we receive is incomplete or inaccurate, we are required by law to warn you that the advice may not be appropriate and you are not able to rely on it to meet your needs.
What happens if I only require Focus to review one aspect of my finances?
Focus believes in a holistic approach to financial services. Analysing your complete financial landscape will allow us to optimise our strategic advice. Your performance and growth may be compromised if we fail to do this. If you ask us for advice on a limited aspect of your financial situation we may need to have information about your whole financial position before being able to help. If we only know about part of the picture, by law we are required to let you know we will not be liable for the appropriateness of the advice we give. It makes sense, if it is appropriate for you, to provide us with a complete picture so we can provide you with the best possible recommendation.
How will I know how much information to provide and what information is relevant?
Focus makes this easy with our Fact Finder. The Fact Finder is designed to logically list your total financial landscape for us, as well as establishing your objectives, expectations and risk profile.
What investment opportunities will I have access to with Focus?
As we have no institutional ownership or alignment , Focus is not tied to specific funds and investment opportunities. This means ultimate flexibility for our clients and a truly tailored financial strategy.
Taking into account the myriad of opportunities available to investors, some regulation is required to enable us to have confidence in our recommendations to clients. Australian Financial Services Ltd has established a list of authorised investments that we utilise. These opportunities have been thoroughly researched and are monitored on an ongoing basis.
What is a risk profile?
Risk analysis is the process of determining what types of risks you are willing to take with your investments. Terms like 'high risk' are very subjective. What is 'high risk' to a retired person might be low risk to a twenty-something working in the finance sector. We therefore need to be more scientific and objective about your risk tolerance.
Risk analysis is designed to enable us to select the right mix of investments to achieve a specific balance of risk and return for you. We ask all clients to complete a Risk Profile.
Completion of this questionnaire will provide Focus with an indication of your individual tolerance for risk and will provide your Focus Wealth Strategist with a foundation to judge the best investment opportunities for you.
What risks are involved?
There are always risks involved with investing, however Focus put measures in place to effectively manage that risk. Your Private Wealth Stategist will provide you with the information you need to assess the situation and understand the relevant issues to make informed decisions about your investments.
Our Investment Philosophy, available through your Private Wealth Strategist, discusses our approach to risk. |
