How we work
We offer two services:
Insurance Review & Financial Advice
At TPA Group, we understand that all our clients have a unique set of needs and financial goals. This is reflected in the way our specialists ask you a different set of questions to really understand your situation and determine the best fit for you.
Our business isn’t solely reliant on insurance commission for revenue - so you won’t come away feeling like you have too much or any unnecessary cover.
There are no out of pocket costs for this service – we’re paid a commission from the insurance company. This is really a no-brainer for you and an essential part of an overall financial health check.
This is how our Insurance Review process works:
We conduct detailed research to understand what insurance you currently have and what you’re paying for.
After completing this research, we have a chat either over the phone/video or face to face, to determine if you have too much, not enough or the wrong mix of insurance.
Once we know what you want, we complete a document called a Statement of Advice (SoA), and help you get it all set up correctly. This may involve completing an application or just some paperwork if we’re adjusting what you have.
Once you’re all set up ,we stay in contact and regularly review your cover to ensure you’re only paying for what you need.
We work hard to give our clients the best value for their money and maintain transparency with our fees and services. We are 100% fee for service and endeavour to create a strong working relationship which generates trust and value.
Reasons to engage us:
- To get an objective second opinion.
- To see how you are tracking with your current strategy.
- You are looking for someone you can trust to break down all this “financial stuff” in a clear personable manner to help keep your finances organised and healthy.
How our Financial Planning process works:
Step 1 - Initial Meeting
There is no charge for this initial meeting as it is an opportunity to get to know each other. Enabling us to gain a deeper understanding of what you want to achieve and how we can help you. It also gives you the chance to see if we are the right fit for you. Following the conclusion of the initial meeting, we can quote you our fees for Step 2, or we might jump to Step 3 depending on your needs.
Step 2 - Strategy Development and Analysis
This step develops an in depth financial model of what is possible in your current situation. We then create multiple financial strategies to clarify all the options available and help you choose the best option for your individual circumstance. You will end up with a comprehensive plan that shows what you need to do to achieve your financial goals. In the final strategy document will also detail the fees for the following stage Financial Plan Implementation.
Strategy Development and Analysis. The fees for this service range from $2,200 for a basic strategy package - best suited to someone who is an employee or sole trader up to $6,600 for more complex situations – best for business owners with multiple entities (trusts, companies and a SMSF).
Step 3 - Financial Plan Implementation
This is where we outline the recommended strategies to you in a formal Statement of Advice (SoA). Once you understand and agree with the recommendations, we will do all the work so your financial plan can be implemented with precision. This plan is designed to get you organised and on the right track.
Financial Plan Implementation. The fees for this service will range from $2,200 for a basic recommendation plan to $9,900+ for more complex recommendations.
In the SoA document we detail the fees for the next12-months of the Ongoing Review and Portfolio Management.
Step 4 - Ongoing Review and Portfolio Management
Regular reviews are critical to the success of any financial plan. Reviewing your situation will ensure you’re organised and on track. It also means we can help keep you accountable to your goals.
Ongoing Review and Portfolio Management. Fees for this service are based on the amount of work and complexity for the next 12 months.