Frequently Asked Questions

Some of the more frequently asked questions from new clients are:

How do I become a client of Summerhill Financial Services?

At our initial meeting, we meet with you to determine the nature and the type of advice that you are seeking and to learn more about you, to help identify what is most important to you. We then also ask you to complete a Personal Questionnaire so we have a comprehensive understanding of your current position and what you wish to achieve from the advice. We then prepare a financial advice proposal, confirming the nature of the advice to be provided and the fee for that advice. Should you wish to become a client and proceed with the advice, we ask you to sign the authority to proceed enclosed with the proposal and return the signed form to us.

What are your experience and qualifications?

Caroline has been practicing in the tax and financial services industry since 1993, in both Australia and the United Kingdom. Caroline has a Bachelor of Commerce from the University of Melbourne, a Diploma of Financial Planning and is a Certified Financial Planner. Caroline also has a Financial Planning Certificate from the United Kingdom.
For more detailed information, refer to Caroline’s CV.

What are the benefits of receiving financial advice from Summerhill Financial Services?

Click here for a list of benefits and why you should work with Summerhill Financial Services as your financial advice partner.

Are you owned by a fund manager or other financial institution?

No, Summerhill Financial Services is privately owned and has its own Australian Financial Services Licence (AFS Licence No 300038). We are very proud of this fact and believe it to be important because it means we have no affliation to any institution or product provider and therefore do not have a conflict of interest in providing you with the most appropriate advice. An AFS Licence, granted by the Australian Securities and Investments Commission (ASIC), authorises the holder to provide financial services.

How do you charge and what are your fees?

Summerhill Financial Services is a fee-based practice, and does not accept investment commissions. Sometimes, commissions are paid for certain financial products. In these cases, we either rebate it back to you, so it reduces the investment fee charged by the fund, or you get additional units. If the commission can’t be rebated, we will donate it to Western Chances, a charity that helps young people in the western suburbs to realise their potential by providing scholarships and other related programs. Our fees are outlined in our Financial Services Guide, and will be agreed with you before becoming a client of Summerhill Financial Services.

Where are your clients located?

No, we have clients around Australia and around the world. Local visits aren’t always possible, so with access to email, telephone and the internet, communication is easy to maintain – regardless of your location.

What is financial coaching?

Financial coaching is training and guiding people in dealing with and managing their finances. It’s not just about “teaching you to save”, it ensures you retain the discipline to maintain your financial strategy — and teaches you how to do it.

Does my age, gender, number of dependents or current financial status matter?

No. Our role is to help you achieve your goals using your existing and future resources. Caroline Bell and Summerhill Financial Services have worked with individuals and families representing a range of wealth levels, at a variety of life stages and with different levels of experience and understanding of financial matters.

What is a “financial plan”?

Also called a Statement of Advice (SOA, refer to Financial Services Guide), a financial plan is a document that maps out how an individual’s or family’s financial goals will be met. It may include short, medium and long-term goals, and will encompass investment and tax strategies, cash-flow management, wealth-creation strategies, remuneration planning (including salary packaging), superannuation, retirement or redundancy planning and estate planning, as appropriate. (Also refer to ‘Services, Initial Advice’)

Is a “financial plan” similar to a budget?

Being an itemised estimate of income and expenses, a budget would normally be part of establishing a financial plan. For instance, a budget would include the amount to be invested each period and/or used for holidays. However, a financial plan isn’t needed to establish a budget.

What about my privacy? How do you handle my personal information?

Naturally, to enable us to provide you with the financial advice you have requested — and that is suitable for your investment objectives, financial situation and particular needs — we need to obtain and hold certain personal information about you. This will include: your name, address and date of birth; details of your financial needs and objectives; details of your investment preferences and aversion or tolerance to risk, along with any other information we consider necessary to properly perform our services. In handling your information, Summerhill Financial Services abides by the National Privacy Principles, established under the Privacy Amendment (Private Sector) Act, 2001. Please see our Privacy Policy for a full explanation. You may wish to download or print out this document for reference.

Do you provide tax and accounting services?

No, we purely offer financial planning and financial coaching services. As Certified Financial Planners, these are our core specialties. However, Summerhill Financial Management, is a taxation and accounting firm that emphasises building long-term relationships with clients to ensure their overall taxation and financial position is maximised. Where appropriate, the two businesses will work together to give you a comprehensive, integrated approach to your financial goals and position. However, you do not have to be a client of Summerhill Financial Services to be a client of Summerhill Financial Management and vice versa; the businesses are independent of each other. As with any other specialist service you may require — such as taxation, legal, insurance or stock broking — we can refer you to an appropriate specialist, or work with your existing adviser.

Where can I find you?

Our office location, map and contact details can be found on our contact page.