How to prepare for your review

Bottom line: Gather recent financial documents, reflect on life changes, prepare specific questions, and be honest about your money habits. Good preparation ensures you get maximum value from your review time.

Proper preparation transforms your review from a passive update into a strategic planning session that advances your financial goals.

Essential document collection

Primary financial statements

Gather these key documents:

Banking and transaction records:

• Three months' bank statements from all accounts (cheque, savings, investment accounts)
• Latest payslips (note if recent bonuses or overtime make them unrepresentative)
• Credit card statements showing spending patterns
• Store account and other credit facility statements

Investment documentation:

• Retirement fund statements (employer and personal retirement annuities)
• Unit trust and tax-free savings account statements
• Offshore investment reports
• Direct share portfolio statements
• Endowment or insurance investment policies

Insurance policy information:

• Life insurance policy schedules or premium notices
• Disability and income protection cover details
• Medical aid membership details and recent claims summaries
• Household and vehicle insurance policies

Debt obligations:

• Home loan statements showing current balance and interest rates
• Vehicle financing agreements
• Personal loan details
• Any other debt obligations

Don't stress about missing documents

We should have copies of most policies and investments we've arranged. The document gathering exercise often helps you remember important discussion points or questions.

Life changes reflection

Systematic change assessment

Set aside quiet time to review the past year comprehensively:

Personal and family developments

Relationship changes:

• Marriage, divorce, separation, or new long-term relationships
• Pregnancies, births, adoptions, or children leaving home
• Health diagnoses affecting you or immediate family members
• Elderly relatives requiring increased support or care

Living situation modifications:

• House moves, renovations, or property purchases
• Changes in transport needs or work location
• Children starting school, changing schools, or beginning university
• Domestic help arrangements or other household changes

Professional and financial shifts

Career developments:

• Job changes, promotions, or increased responsibilities
• Industry changes affecting job security or future prospects
• Transition from employment to contracting or business ownership
• Professional development investments or qualifications

Income variations:

• Salary increases, bonuses, or commission structure changes
• Additional income streams from side hustles or investments
• Reduced income due to job changes or economic factors
• Spouse's employment situation changes

Lifestyle and priority evolution

Goal refinements:

• Shifted focus from short-term to long-term objectives
• New priorities like children's education or elderly parent care
• Changed timeline for major purchases or life events
• Different retirement lifestyle aspirations

Risk tolerance modifications:

• Increased conservatism due to family responsibilities
• Greater risk appetite following income increases
• Market experience influencing investment comfort levels
• Economic uncertainty affecting planning approaches

Question preparation and prioritisation

Core financial concerns

Write down questions as they occur to you:

Performance and fees:

• Are my investment returns competitive?
• Could I reduce fees without sacrificing performance?
• Which investments are underperforming and why?
• Are there better alternatives available?

Insurance adequacy:

• Is my life cover still appropriate for my situation?
• Do I have adequate disability and income protection?
• Could I save money on insurance without reducing essential cover?
• Are there gaps in my current protection?

Tax efficiency:

• Am I maximising available tax deductions?
• Could I structure investments more tax-efficiently?
• Are there new tax opportunities I should consider?
• Should I be claiming business expenses or other deductions?

Specific situation queries

Immediate concerns:

• How will specific life changes affect my financial plan?
• Should I adjust my risk profile given my circumstances?
• Are there new products or strategies suitable for me?
• How can I improve my savings rate or investment returns?

Future planning:

• Am I on track for my retirement goals?
• How should I plan for children's education costs?
• What's the best strategy for paying off my home loan?
• Should I consider offshore investments or emigration planning?

Research-based questions

If you've read about specific investments or strategies:

• Is this suitable for my situation?
• How does it compare to my current arrangements?
• What are the risks and potential returns?
• How would it fit into my overall portfolio?

Goal clarification and prioritisation

Short-term objectives (1-2 years)

Emergency fund building:

• Target amount based on monthly expenses
• Timeline for achieving adequate reserves
• Best savings vehicles for accessibility and growth

Debt reduction priorities:

• Which debts to pay off first
• Extra payment strategies
• Debt consolidation considerations

Immediate savings goals:

• Holiday or leisure activity funding
• Home improvements or maintenance
• Vehicle replacement or upgrades
• Family event costs

Medium-term targets (3-10 years)

Major purchase planning:

• Home deposit accumulation strategies
• Investment property considerations
• Business venture capital requirements
• Children's education funding approaches

Debt elimination strategies:

• Home loan acceleration techniques
• Optimal extra payment allocation
• Refinancing considerations
• Tax implications of early repayment

Long-term aspirations

Retirement planning:

• Desired retirement age and lifestyle
• Income replacement requirements
• Investment strategy alignment
• Estate planning integration

Legacy considerations:

• Inheritance planning for children
• Charitable giving objectives
• Business succession if applicable
• Wealth transfer strategies

Honest financial habit assessment

Spending pattern analysis

Budget adherence reality:

• Are you consistently overspending in certain categories?
• Do unexpected expenses regularly derail your savings?
• Have you been using credit more than planned?
• Are you avoiding checking account balances or investment statements?

Saving consistency evaluation:

• Do you save regularly or only when money is left over?
• Have you dipped into emergency funds for non-emergencies?
• Are you procrastinating on increasing retirement contributions?
• Do irregular expenses catch you unprepared?

Behavioural challenges identification

Common struggles:

• Impulse spending on discretionary items
• Difficulty saying no to family financial requests
• Procrastination on important financial decisions
• Emotional investing during market volatility

Successful strategies:

• What saving or investing approaches have worked well?
• Which automatic arrangements have helped you stay on track?
• What motivates you to stick to financial goals?
• How do you best prefer to receive financial information?

Risk tolerance honest assessment

Comfort level evaluation:

• How did you feel during recent market downturns?
• Are you losing sleep over investment performance?
• Do you check your investment values too frequently?
• Have recent experiences changed your risk appetite?

Investment behaviour patterns:

• Do you tend to buy high and sell low during market cycles?
• Are you tempted to chase performance or follow trends?
• Do you prefer hands-on involvement or professional management?
• How important is understanding exactly how your investments work?

Preparation timeline and organisation

Two weeks before your meeting

• Begin document gathering
• Start reflecting on life changes
• Note questions as they arise
• Review last year's meeting summary if available

One week before

• Complete document collection
• Finalise question list
• Review and update goal priorities
• Prepare honest assessment of financial habits

Day before your meeting

• Organise documents in logical order
• Review question list and prioritise most important items
• Prepare brief summary of major life changes
• Ensure you have contact details and meeting location confirmed

Remember: we're on your team. The more information you provide, the better advice we can give. Honest preparation leads to better outcomes, and we've seen every type of financial situation before. Your openness helps us help you achieve your financial goals more effectively.