The initial stage of the financial planning process involves gathering relevant information about the client's financial situation. This is a crucial step in developing a financial plan that is tailored to the client's individual needs and circumstances and ensures that the financial planner or advisor has a comprehensive understanding of the client's current financial situation.

Product research is an important aspect of the financial planning process. Financial planners and advisors use a variety of tools and resources, including WealthSolver and Insurance quoting tool, to research and recommend financial products to their clients.

The advice-preparation stage is a critical component of the financial planning process. Once the financial planner or advisor has gathered all the relevant information about the client's financial situation and goals, they will use this information to develop a personalized financial plan that aligns with the client's goals and risk tolerance.

The presentation of a Statement of Advice (SoA) is a crucial aspect of the financial planning process. A SOA is a document that outlines the financial advice provided to the client, along with any associated risks, fees, and charges. It is a legal requirement for financial planners and advisors to provide clients with a SOA that is clear, concise, and tailored to their individual needs and circumstances.