01 – Introduction

Too often, clients and their advisers place silly limits on financial planning.

These limits are historic. They exist because the institutions that own most financial planners have always limited their view of financial planning to the sale of one of two broad types of financial product: a managed fund or an insurance policy. Anything else was ‘beyond their scope,’ which was a polite way of saying that it was beyond the institution’s ambition to make as much money for itself as possible.

As a result, clients of institutionally-owned financial planners have seen many, if not most, of the important aspects of their financial planning simply ignored. Traditional ‘financial planning’ has been about selling insurance and/or managed funds, and precious little else.

Dover’s ambition is to get rid of this silly limit.

We want our clients to know that financial planning is not just about managed funds and life insurances.

So we have written this guide: ‘101 things that financial planning is really about.’ This guide is another way to give voice to what we call the Dover Way. The Dover Way is our approach to strategic financial planning, where an adviser uses his or her skills and knowledge to help their clients solve the actual problems that they face.

These are not the problems that the institutions want the client to face (not enough of the right brand of managed funds and not enough of the right brand of insurance). They are the problems that clients really do face. Things like buying and paying off a home (or helping children do the same). Or recovering from a financial wipeout caused by a divorce or unexpected illness. Or managing relatively meagre amounts in retirement. Or managing relatively large amounts in retirement without losing enormous chunks of it to unnecessary management fees and taxes. 

The way Dover works means that our advisers do not face any silly limits. If their clients really do need managed funds and life insurances, our advisers will organise them. But our advisers can also do a whole lot more. Because they are not attached to any institution,  our advisers can sit down with any client and assist that client to improve their financial management. They will do this by applying one or more of the 101 things that financial planning is really about. 

If you are a Dover adviser already, please take the time to read through these materials and use them as a resource full of practical solutions to your clients’ real problems.

If you are not yet a Dover adviser, then please read these materials and think about what it would be like to work with an AFSL that cares as much about your clients as you do.

And if you are a client contemplating using a Dover adviser, then please simply enjoy these materials. Use them to see the kind of practical, problem-solving experience you can look forward to from any one of our network of over 250 advisers around Australia.

The Dover Group