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Support/ Financial Planning/Fact-Find

Understanding the key Fact-Find fields

3 min read

This page explains what each Fact-Find section covers and highlights the most important fields. For a walkthrough of how to complete the form, see Completing the Prospo Fact-Find.

Personal Details

Identity and compliance information for each person in the client group.

  • Title, First Name, Surname, Preferred Name

  • Date of birth - used in financial projection calculations

  • Place of birth, nationality, residency status, years in Australia

  • Marital status

  • Tax File Number

  • Medicare Number

  • Passport - number, country, expiry

  • Driver's licence - number, state, expiry

Contact Details

  • Residential address - street, suburb, state, postcode, country

  • Postal address - or tick "same as residential"

  • Mobile, home, and work phone numbers

  • Primary and secondary email addresses

  • Preferred contact method and time

  • Emergency contact - name, relationship, phone

Risk Profile

  • Risk tolerance - qualitative assessment

  • Risk capacity - financial ability to absorb losses

  • Risk required - return needed to meet goals

  • Risk score - 1 to 10 numeric rating

  • Investment timeframe - short, medium, or long term

  • Liquidity needs

  • Investment experience

  • Behavioural factors - loss aversion, market timing, herding behaviour

Balance Sheet - Assets

Liquid assets

  • Cash on hand, transactional accounts, savings accounts, offset accounts, term deposits, emergency fund

Investments

  • Shares, managed funds, ETFs, bonds, cryptocurrencies, other investments

Primary property

  • Address, property type, ownership type

  • Purchase price, estimated value, purchase date

  • Outstanding mortgage, equity

  • Main residence and CGT exemption flag

Investment property

  • Same as primary property, plus weekly and annual rent, rental yield, vacancy rate, depreciation, negative gearing, and estimated CGT

Superannuation (per fund)

  • Fund name, member number, owner

  • Fund type, industry super fund flag

  • Employer SG rate and amount

  • Salary sacrifice and voluntary contributions

  • Investment option, contribution rate, investment return rate

Business assets

  • Business name, ABN, ACN

  • Estimated value, annual turnover, monthly revenue

  • Net profit, expenses, depreciation, capital gains

Balance Sheet - Liabilities

Home loan

  • Loan amount, deposit

  • Annual interest rate, loan term

  • Amortised yearly repayment, redraw capacity

  • Tax deductible flag

Other liabilities (per debt)

  • Loan type - credit card, personal loan, etc.

  • Lender, balance, interest rate, interest type

  • Repayment amount and frequency

  • SMSF loan and investment property loan flags

Goals

  • Goal label - e.g. "Retire at 60" or "Pay off mortgage"

  • Category

  • Target amount

  • Priority

  • Start year and end year - the timeline for the goal

Cashflow - Income

  • Base salary, commissions, bonuses

  • Business income or profit

  • Superannuation pension, annuity income

  • Rental income, investment income

  • Centrelink benefits

  • Bank interest, dividends (franked and unfranked), franking credits

  • Side job income, other income

  • Income change expected - yes/no with details field

Cashflow - Expenses and deductions

  • Estimated income tax

  • Long-term and short-term debt payments

  • Daily living, insurance, health, personal care, and entertainment expenses

  • Work-related deductions, self-education, tax agent fees

  • Salary sacrifice to super, voluntary super contributions

  • Net cash flow - calculated automatically

  • Debt service ratio - calculated automatically

Insurance

  • Policy number, insurer

  • Insurance category - life, TPD, income protection, trauma, etc.

  • Insured person(s) and status - active, lapsed, etc.

  • Sum insured or monthly benefit

  • Annual premium and premium frequency

  • Next premium due date, last and next review dates

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