My Wealth Solutions is a financial advisory firm based in Sydney that provides personal financial planning, investment advice, superannuation guidance, and retirement planning services to individuals and families. The firm operates under an Australian Financial Services Licence and works with clients across the Sydney metro area, offering both face-to-face and remote consultations.
What My Wealth Solutions Offers
The firm covers a broad range of financial planning areas, including wealth accumulation strategies, tax-effective investing, debt management, insurance planning, and estate planning. Advisers at My Wealth Solutions work with clients at different life stages, from those early in their careers building savings to pre-retirees and retirees managing drawdown strategies from their superannuation and investment portfolios.
Clients typically begin with a fact-finding meeting where the adviser reviews current financial positions, goals, and risk tolerance. From that, a Statement of Advice (SOA) is prepared, which outlines recommended strategies and products. This is a legal requirement for licensed financial advisers in Australia and gives clients a written record of the advice and its rationale before they commit to any action.
Fees and How Advice Is Charged
My Wealth Solutions charges on a fee-for-service basis, which means clients pay for the advice itself rather than the firm earning commissions from product sales. This model is now standard practice for compliant advisory businesses in Australia following the Future of Financial Advice (FOFA) reforms. Initial consultation fees, ongoing advisory fees, and any implementation costs should be clearly disclosed in the SOA and a separate fee disclosure statement. If you are considering engaging the firm, ask upfront for a breakdown of all expected costs before signing any agreement.
Checking Credentials and Licensing
All financial advisers in Australia must be registered on the Financial Advisers Register, which is publicly searchable through the Australian Securities and Investments Commission (ASIC) website at moneysmart.gov.au. You can search by adviser name or the firm name “My Wealth Solutions” to confirm current registration status, the licence under which they operate, qualifications held, and any past disciplinary history. This check takes under two minutes and is worth doing before any initial appointment.
Frequently Asked Questions
Where is My Wealth Solutions located in Sydney?
My Wealth Solutions has offices in Sydney, with advisers available to meet clients in person or conduct appointments via video call for those outside the immediate area. Check their website or contact them directly to confirm the current office address and available appointment formats, as service arrangements can change.
Is My Wealth Solutions suitable for first-time financial planning clients?
The firm works with clients across a range of experience levels. If you have never seen a financial adviser before, the initial consultation is designed to establish your current position and priorities without requiring prior preparation. Bringing recent payslips, super statements, a list of debts, and any existing insurance policies will help the adviser give you a more accurate picture quickly.
How is My Wealth Solutions different from a bank financial planner?
Independent or boutique advisory firms like My Wealth Solutions are not tied to a specific bank’s product range, which means they can recommend solutions from across the market. Bank-aligned planners may have approved product lists that limit recommendations. The key question to ask any adviser is whether they receive any payments or benefits from product providers, which must be disclosed under ASIC regulations.
