Frequently Asked Questions...

How much do you charge for an initial consultation?

Nothing. Our first meeting — typically around 90 minutes — is complimentary. It's primarily about getting to know each other, understanding your financial situation, and gaining a clear picture of your goals.

By the end of that conversation, we'll have a much better sense of how we can help you, and we'll be upfront about what the next steps might look like, including any costs involved going forward. No obligation, no pressure.

How much does a financial or retirement plan cost?

Everyone's situation is different, but as a guide, a concise financial plan (formally known as a Statement of Advice) is typically $3,000 plus GST. We'll always be clear about costs before any work begins.

Do you receive commissions on the investments you recommend?

No. We don't accept commissions. New clients pay a straightforward one-off implementation fee where applicable, plus a flat monthly fee for ongoing advice and support. Most of our clients choose to have these fees deducted directly from their superannuation — but that's entirely your call.

Are you owned by a bank or financial institution?

No. Westmount has been independently and privately owned since we opened our doors in 1977. That independence matters to us — and we think it should matter to you too.

Am I obliged to proceed with your recommendations?

Not at all. Whether you're an existing client or considering working with us for the first time, you're never under any obligation to act on our advice. There are no service contracts to sign, and no pressure to proceed with anything you're not comfortable with.

If I become a client, how often will we meet?

That's largely up to you. Most clients find an annual review works well as a minimum, but we're happy to meet more frequently if that suits your situation. In between meetings, we'll keep you across any developments or legislative changes that could be relevant to your financial position.

Can you help with my superannuation and insurance?

Absolutely. We'll review your existing super fund and insurance arrangements, compare them against the available alternatives, and recommend changes where we believe they'd genuinely improve your position.

Is there a minimum level of assets or income required to become a client?

No. Your income or asset level doesn't determine whether we can help you. Our clients come from all walks of life — from high net worth individuals seeking a trusted second opinion, to younger people just starting to build their financial foundations. What matters is that you're serious about your financial future.

Will you liaise with my family members or other advisors?

Yes, and we actively encourage it. It's genuinely valuable for key family members to know who your financial advisor, accountant, and legal advisors are — particularly when it matters most. That said, your privacy is paramount. We won't discuss your affairs with anyone else without your explicit approval.

Rick Maggi CFP, Financial Advisor Perth, Westmount Financial