When Fleur and John Bailey* came to Dibbo they knew they needed to plan for their future but had no idea where to start. With a busy young family, a business, farm and other ‘balls in the air’ they knew they needed professional advice to get them on the right track.
The Baileys were also weighing up whether to embark on a major home renovation or buy an investment property in Adelaide.
“We knew we needed to plan for our future, but we were concerned about the time needed gathering information and financials. And being honest about it, we were worried about the cost and being locked-in to an ongoing process.“
Overview and Needs Assessment
Like many young parents in their 30’s and 40’s, the Baileys had many competing priorities and were primarily focused on paying down debt and managing their farm and business. While the Baileys had some ideas for growing their wealth in the future, as they were busy and their work and home life was trucking along nicely, long-term planning was not considered urgent.
From experience, we knew the value of taking the time to consider goals in the short, medium and long term and mapping them out in the context of immediate priorities.
We also knew that the couple rarely had the time (or inclination) to sit down and put thought to the future. To address this, we arranged an “informal chat” at their home after Fleur and John had put their kids to bed.
The importance of longer-term planning and the significant financial impacts it can achieve should not be underestimated. However, we know that planning can be overwhelming or viewed (incorrectly) as cost-prohibitive for many people.
Supporting families in our community is important to us, and we want everyone to be able to access and benefit from planning.
To provide a service that would assist our clients to make more informed decisions, we developed our Decision Drafting process – two hours, fixed price and no ongoing commitment. Simple, straightforward and highly effective.
Good planning does not need to be complicated and our process with Fleur and John was about opening up meaningful discussions using straight-talk, not technical-talk.
Using real life scenarios based on their own goals helped them better understand the longer-term financial impacts associated with their decisions, how it could help reduce their stress and achieve clarity.
We used the two hours to help the Baileys brainstorm their most important goals, weigh up the pros and cons of different strategies, and really home in on what were important priorities for now and identify what they could worry about later.
While Fleur and John initially thought the major home renovation and buying an investment property both seemed unattainable, we were able to outline how their renovations (which were a priority for their growing family) could be implemented in the short-term. We also set a clear path for purchasing an investment property within a five-year plan.
“The best thing about our planning session with Dibbo was that there was no ongoing commitment, no hidden fees, no upsell. It was purely focused on our family and our goals. While it was simple and straightforward, it never would have happened without Dibbo facilitating it.”
The outcomes so far. . .
Fleur and John came away from a two-hour meeting with great information, clarity and clear direction. The importance of not procrastinating when it comes to planning for the future was evident as the Baileys home renovation was completed four months after their meeting with Dibbo.
The Baileys now have a clear path forward with six clear goals and the appropriate actions to meet their immediate priorities in alignment with their long-term financial goals.
They are also well on their way to achieving their goal of purchasing an investment property in Adelaide.
What Fleur has to say. . .
Dibbo gave us 5-star service and an absolute commitment to helping us prioritise our way forward. He also shared his experiences and insights from helping other families, (usually more than one generation which says a lot about his values), and this really helped us put our goals in context and helped us identify what was realistic and what was not.
Our time with Dibbo was empowering! From a two-hour meeting we achieved clarity, clear direction and the confidence we needed for achieving our immediate priorities, without any strings attached.
Would I recommend Dibbo? “I already do!”
*This case study reflects the service Phillip offered one of our clients, however the names have been changed for privacy reasons.
Phillip Dibben is an MFAA Approved Credit Adviser, including SMSF lending, and is an Authorised Credit Representative with Riverland Lending Services Pty Ltd, ABN 37 1415 814 080 ACL 391825, and is licensed to provide advice in all consumer and business loans including equipment finance. All loans are subject to lending and approval criteria.
Phillip Dibben is also a financial adviser at Active Financial Management. Active Financial Management and its advisers are Authorised Representatives of Fortnum Private Wealth Pty Ltd ABN 54 139 889 535 AFSL 357306 trading as Fortnum Financial Advisers.
This information does not consider your personal circumstances (including taxation) and is of a general nature only. You should not act on the information provided without first obtaining advice specific to your circumstances.