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Comprehensive Fact Find Client Name: Adviser Name: Date Completed: Version 5.8 effective from 08/08/2014 Contents Liabilities 11 Personal Details 3 Superannuation 12 Financial Defendants 4 Contact

How to fill out comprehensive fact find

How to fill out comprehensive fact find:

1. Start by gathering all necessary information: Collect relevant personal details such as name, date of birth, address, and contact information. Additionally, gather financial information like income, assets, liabilities, and expenses.
2. Assessment of risk tolerance: Determine the client's risk appetite and investment preferences. This includes understanding their willingness to take risks and their investment goals.
3. Identify financial objectives: Discuss the client's short-term and long-term financial goals. This can include retirement planning, saving for education, or purchasing a property.
4. Analyze current financial situation: Assess the client's current financial position by reviewing their income, expenses, debts, and assets. Understand any existing investment holdings, insurance policies, or pension plans.
5. Evaluate insurance needs: Determine the client's insurance requirements. This can include life insurance, health insurance, or any other types of coverage they may need based on their circumstances.
6. Review investment knowledge and experience: Understand the client's investment knowledge and experience. This helps determine suitable investment options and strategies.
7. Determine time horizon: Ascertain the client's time horizon for achieving their financial goals. This will help in designing an appropriate investment plan.
8. Assess tax situation and legal obligations: Consider the client's tax position and obligations. Determine if there are any legal requirements, such as completing tax returns or adhering to specific regulations.
9. Identify any special circumstances: Discuss any special circumstances or unique financial considerations the client may have. This can include estate planning, family obligations, or business ownership.

Who needs comprehensive fact find:

1. Individuals seeking professional financial advice: Any individual who wants professional assistance in managing their finances can benefit from a comprehensive fact find. This includes individuals who are unsure about their financial goals, need help with investment planning, or require assistance with retirement planning.
2. Families and couples: Comprehensive fact find is essential for families or couples who have joint financial goals or share responsibilities for financial decisions. It helps in understanding the complete financial picture and ensures that all financial aspects are adequately addressed.
3. Business owners and entrepreneurs: Business owners and entrepreneurs often have complex financial situations that require a thorough fact find. This includes understanding business cash flow, legal obligations, succession planning, or investment options for surplus income.

In summary, filling out a comprehensive fact find involves gathering personal and financial information, assessing risk tolerance, analyzing the current financial situation, determining financial objectives, and addressing insurance and investment needs. It is beneficial for individuals seeking professional financial advice, as well as families, couples, and business owners with unique financial circumstances.

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What is comprehensive fact find?

Comprehensive fact find is a detailed gathering of financial information, personal details, and goals to help create a comprehensive financial plan.

Who is required to file comprehensive fact find?

Financial advisors, planners, or individuals working in the financial services industry are typically required to file comprehensive fact find.

How to fill out comprehensive fact find?

Comprehensive fact find can be filled out by gathering all relevant financial information, personal details, and goals of an individual or organization, and documenting them in a structured format.

What is the purpose of comprehensive fact find?

The purpose of comprehensive fact find is to understand the financial situation, needs, and goals of an individual or organization in order to provide appropriate financial advice or recommendations.

What information must be reported on comprehensive fact find?

Information such as income, expenses, assets, liabilities, financial goals, risk tolerance, and investment preferences must be reported on comprehensive fact find.