What do we cover in an annual review

Are you taking the time to review your personal finances each year? We meet with our clients every 12 months for an annual review to make sure they stay on track and their financial journey remains stress-free.

So, what do we cover in an annual review? Let’s take a closer look:

Affluence Wealth Annual Review Process

1. Revisit Your Goals and Priorities

Life evolves, and so do your plans. Whether you’re expecting a new addition to your family, planning to buy another property, or considering a career change, we start by aligning your financial strategy with your current goals.

2. Cash Flow and Expenses

We review your cash flow to see if income expectations were met and how you managed unplanned expenses, such as home repairs, car replacements, or holidays. This helps us plan for the future while staying prepared for the unexpected.

3. Updating Key Timeframes

Have your retirement plans shifted? Have there been any changes to your employment or family circumstances? We reassess your timelines to ensure your financial journey is still on track.

4. Investment and Superannuation Performance

We conduct a comprehensive appraisal of your superannuation and investment portfolios, assessing asset allocation and returns to ensure they align with your goals. If adjustments are needed, we’ll update your financial plan accordingly.

5. Tax and Legislative Updates

Taxation planning is another critical focus. Whether you’re exploring strategies like negative gearing, family trusts, or super contributions, we review your approach in consultation with your accountant. We also keep an eye on changes in tax or super legislation (e.g., Division 296 proposals) that might affect your situation.

6. Loans and Debt Management

We evaluate how well you’re progressing with your mortgage or other loans. If you’re looking to buy a new home and increase your borrowing, we help ensure your repayment structure remains manageable and aligned with your targets.

7. Insurance Adjustments

Insurance needs change as your circumstances change. We review your policies to ensure you have appropriate coverage for new debt, family additions, or other life changes while keeping premiums affordable.

8. Estate and Intergenerational Planning

Estate planning is another area we address, ensuring your wishes are reflected. Intergenerational planning has also grown in importance. We’re here to support you in helping children with university fees, HECS debt, or first-home deposits.

9. Looking Ahead

Before concluding your review, we will discuss what’s on the horizon over the next 12 months and focus on any new or unresolved issues. Finally, we set a timeline for any additional meetings or check-ins.

Our comprehensive approach ensures nothing is left unchecked, giving our clients the confidence that their financial future is in safe hands.

If you don’t currently work with a financial adviser, these are all things you may want to consider when managing your financial plan. And if you’d like expert guidance, we’re here to help.

Take the first step today by booking a complimentary meeting with us. Your financial future deserves the same care as every other major area of your life.

Book an obligation-free meeting