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netwealth Educational Series
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Next Gen Thinking – an innovative way to advise 30 somethings
Steve CrawfordOwner| Senior Wealth Adviser | Lead Spending Coach
Experience Wealth | Your Spending Coach
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DisclaimerThis information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs. Because of this, you should consider whether the information is appropriate in light of your particular objectives, financial situation and needs.
Steve Crawford is an Authorised Representative (AR No. 001237456) of Black Sheep Advisers (AFSL 480012)
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Goals for this sessionUnderstand what Gen X & Y want – the 3 most common goalsGet an insight into what we’ve learnt over the past 6 yearsLearn how to build a value proposition that suits your
business and your target clientsThrough using a Case Study, we will explore one of the key
‘new advice’ areas to help our clients see if they can achieve their goals
Develop an action plan to build your own XY offer back in the office
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Nearly all Gen XY we see want this…
But they still want to maintain this…
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FutureNow
FinancialIndependence
Building yourWealth
Your
Wea
lthEnjoying
your Wealth
Product SolutionsOur AdviceYour Impact
Changing Lifestyle
The Road to Financial Independence
• Spending and Savings Strategies• Superannuation Strategies• Investment Strategies• Debt Reduction Strategies
• Money Management – means having money for today and tomorrow
• Smart Strategies – achieve a balance of “Lifestyle” & “Financial” Goals
• Products – Banking, Investments, Super, Insurances
• Protection Strategies• Estate Planning Strategies• Tax Strategies• Lifestyle Strategies
Smart Strategies
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Building Your Wealth Plan
Your Lifestyle Protection Plan Your Retirement Plan
Your Spending & Savings Plan
Your Lifestyle & Financial Goals Plan
Your Banking and Lending Plan
Your Lifestyle Goals and Your Financial Goals
Your Wealth Foundations
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Your Spending & Savings Plan
10Return to previous slide
Living Lifestyle Savings
• Define & Know the Objectives
• Set the budget
• Track your Progress
• Measure your Success
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We’d like to introduce you to Sally SingleSally is a lawyer, working in
OH&S for a large labour hire company
She earns $190,000 p.a.36 years of ageOwns an apartment in
Southbank (Melbourne) valued @ $550,000
Current Mortgage of $326,000
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New apartment in BrunswickValued at $724,000Wants to keep SouthbankMust maintain a ‘decent’ lifestyle
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To help her make a decision let’s take a look at her numbers….
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Build your Gen XY offer in 5 simple steps
1. Start with what they WANT help with most (Goals & Problems)?
2. Then look at all the areas of advice required to reach the goals / solve the problems
3. Rank them by level of client VALUE
4. Compare that with what you can control
5. Get building (What, How, When, Who, Price? etc.)
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Typical Goals Advice Areas needed Do we do these now?
Manage my money better
Buy their first property
Start their family
Manage returning to work
Upgrading their home
Planning for Education CostsCareer Change
What they want / advice needed?
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Advice Area Client Value (H/M/L) Level of Control (Adviser)
Spending & Savings Plan
Lifestyle Goal Strategy
Financial Goal Strategy
Banking
Insurances
Superannuation
Investment Strategy – Shares/PropertyInvestment ImplementationTax
Estate Planning
What they value / What you control?
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Advice Area Frequency of Advice Format (F2F, GoTo, email etc.)
Spending & Savings Plan
Banking
Insurances (Life)
Superannuation
Investments – Shares/PropertyTax
Estate Planning
Building the offer…
Pricing your offerYour Price = Fixed Costs + Time to deliver advice + ValueOverlay – What they’ll pay / options to pay
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Thank you
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netwealth Educational Series
DISCLAIMERFOR FINANCIAL ADVISER USE ONLYThis information has been prepared and issued by netwealth Investments Limited (“netwealth”), ABN 85 090 569 109, AFSL 230975, ARSN 604 930 252 for the general information of its advisor clients only. It is a general summary only and contains opinions on some publically released information and is not advice.While care has been taken in the preparation of this information (using sources believed to be reliable and accurate), netwealth does not warrant or represent that the information is accurate, complete or current. netwealth, any other member of the netwealth group of companies, their officers, employees or representatives will not be liable for any loss or damage suffered by any person arising from reliance on any of this information. Anyone proposing to rely on or use the information should first obtain appropriate independent professional advice.