Here are some frequently asked questions to help you understand the value of financial advice and take that first step towards a better financial future.

Why should I see a financial planner?

To make sure you make the right financial decisions (and not the wrong ones) it’s important to understand all your options and get the opinion of a professional who has the right experience and your best interests at mind. Learn more about how can we help.

Why should I see a BankVic financial planner?

Unlike other large financial institutions, all our profits are invested back into our business so we can offer our members low or no-fee banking, quality products and services and competitive interest rates. Our financial planners are salaried employees who don’t receive remuneration on product sales, so you're assured of genuine professional advice.

Our qualified and professional financial planners combine years of expertise with ongoing industry training, ensuring you’re provided with the most up-to-date financial advice. BankVic financial planners are members of the Australian Financial Planning Association which is a peak body for financial planning in Australia. From police officers to nurses, we’ve helped Australians from various walks of life improve their financial well-being, so you can rely on us for personalised and transparent advice.

What are the steps involved in seeing a financial planner?

We follow an easy to understand 6-step process. Learn more about our wealth management process.

How do I know if a financial planner can help me?

Just call us up for a chat over the phone. If we can help, the next step is to come for a no-obligation, no cost consultation. Learn more about your appointment.

How much does it cost?

The personal advice we provide is in writing. The cost will vary depending on how long it takes us to provide the advice. To get an estimate on what the cost might be, please call us on 03 9268 9350 or book an appointment online.

Do I need to have a certain amount of money or assets to see a financial planner?

No you don’t need to have a set amount of money or assets to see a financial planner. Each individual will be at different stages of their lives and will have different goals and objectives. A BankVic financial planner will look at your situation and help you with a strategy that is best for you.

What will my financial plan contain?

Your financial planner will provide you with a written Statement of Advice (SOA). This sets out:

  • The advice they are providing you.
  • The information on which it's based.
  • How they get paid.
  • Any interests, associations or relationships that could influence them.

The information in the SOA will be presented clearly and concisely, with enough detail for you to make an informed decision about whether to act on the advice.

What happens once I have a financial plan?

Don't lose sight of the fact that it's your money and the final decision is always yours. You can ask for some changes to your financial plan if you want to, or you may decide not to go any further. It is completely up to you.

If you decide to go ahead, your BankVic financial planner will discuss with you your next steps to put the financial plan into action.

Most people use the first financial plan as a starting point and revise their financial plan from time to time, in line with changing goals and life stages - so your relationship with your financial planner may be a long one!

What ongoing services do BankVic financial planners provide?

Ongoing reviews are important so that your financial strategy remains on track and your short, medium and long-term goals and objectives will be met. Find out more about our reviews and the ongoing service value we provide.

BSB: 704 230

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