Frequently Asked Questions
Answers to some of the most common questions people have when considering working with a Financial Adviser.
The short answer is, it depends on your situation. We work with people approaching retirement, young families building wealth, and those navigating major life decisions like an inheritance or a large income jump. The common thread is that they’ve got complexity they don’t want to get wrong or they’re too busy and wan an expert to help. If you’re not sure whether your situation warrants advice, our initial call is free, we’ll tell you honestly whether we think we can add value, and if we can’t, we’ll say so.
We charge fees for our time and advice. This matters because it means our recommendations aren’t driven by what products we put you in. Our initial meeting is at no cost. The next meeting, a Wealth Review, is $500. Beyond that, fees depend on the complexity of your situation and the services involved. Full details are on our “process and pricing” page. We will give you a clear quote on all advice fees applicable to your situation at the end of our wealth review meeting.
No. You can cease our ongoing service at any time. There are no lock-in periods or exit penalties. We’re also required by law to obtain your written consent each year before continuing to charge ongoing fees, which means the arrangement gets reviewed annually. If your circumstances change and you no longer need ongoing support, that’s fine. Some clients only want to work with us for 6-12 months, other want a partnership that lasts generations.
Yes. Barwon Finance and Darcy O’Rourke are Authorised Representatives of Lifespan Financial Planning Pty Ltd (AFSL 229892), which means we operate under a licence issued and regulated by ASIC. Darcy is listed on the ASIC Financial Adviser Register (number 001252661), where you can independently verify qualifications, employment history, and the products we’re authorised to advise on. We’d encourage you to check this register for any Financial Adviser you are considering working with.
Quite a few. Licensed Financial Advisers are legally required to act in your best interests. This is known as the Best Interests Duty and is enforceable under the Corporations Act. If you have a concern, you can raise it directly with us first. If it isn’t resolved to your satisfaction, you can escalate to our licensee, Lifespan Financial Planning. We hold professional indemnity insurance which provides cover in the event that a client suffers a loss as a result of advice not in their best interest.
Beyond that, you have the right to lodge a complaint with AFCA (Australian Financial Complaints Authority). This is a free, independent external dispute resolution service. In the highly rare event of significant adviser misconduct where a licensee becomes insolvent the Compensation Scheme of Last Resort (CSLR) provides a further safety net for eligible claims.
In many cases, yes. Where advice relates directly to your superannuation, the cost can often be deducted from your super balance rather than coming out of your pocket. This makes advice more accessible for people who have super but limited cash to spare. We will let you know upfront whether this applies to your situation.
It runs across five steps. First is a free introduction call to see whether we are a good fit and whether moving forward makes sense for you. If it does, we move into a Wealth Review. This is a paid one-hour meeting where we take a deep dive into your current position, your goals, and what strategies could help.
From there if you would like a personal financial plan based you your situation we will prepare a Statement of Advice that covers where and how to invest, what changes to make, and strategies to grow and protect your wealth. We then meet to present the plan, walking you through each recommendation in plain language.
Finally, we handle all the paperwork and implementation, then stay involved through ongoing support to keep your strategy on track as your life and circumstances change. This process is explained in more detail in our “process and pricing” page.
We provide holistic financial advice, which means we look at the full picture rather than just one piece of it. This covers superannuation, retirement planning, investments, self-managed super funds (SMSFs), personal insurance, and aged care. For lending, accounting and legal matters, we partner with trusted third party professionals and can connect you with the right person for your situation.
It’s one of the most common things people say before their first call, and in most cases it turns out not to be true. Whether advice makes sense depends less on how much you have saved and more on your income, your goals, and the complexity of your situation. For instance someone earning a strong income with limited assets can get a lot of value from advice.
For people close to or at retirement, a rough guide is that having at least $200,000 of investable assets (Super, shares, savings) tends to be the point where comprehensive advice pays for itself, but if you are unsure, just reach out and we will give you an honest answer on the call.
Barwon Finance is family owned and operated. Our licensee, Lifespan Financial Planning, is also independently and family owned, with no ties to any bank or large financial institution. This matters because it means our advice is not steered by institutional sales targets or pressure to recommend in house products.
It is worth noting that “independent adviser” is a protected term with a legal definition in financial advice. An adviser can only use it if they meet a strict list of requirements, including if they receive no commissions of any kind. Like most advisers, we can receive commissions on insurance products where applicable (no other financial products can legally pay us commissions), which means we do not use that label. It is worth noting all insurance companies pay a standardised rate of commission, so there are no insurers that provide a higher rate of commission as a sales incentive.