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Navra Financial Planners

Discussion in 'Financial Planning' started by coopranos, 8th Jul, 2007.

  1. coopranos

    coopranos Well-Known Member

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    Gday guys
    Was just wanting to get some feedback from those here who have met with and possibly continue to use the services of Navra financial planners.
    How in depth does the service go? Do you tailor a plan specific to individual circumstances, or does it seem more of a sales pitch for the Navra managed funds? Has advice given been followed and paid off?
    It would be good to get some input into my own financial plans from a professional, however my experience has been that the majority of financial planners are glorified share/insurance brokers, keen more to get their commissions from the top paying products. As individuals a lot of them dont actually seem to be any better off financially than your average punter (may earn a lot, but still working for the man till 65, complaining all the way!).
    From the limited knowledge I have of Steve Navra, he tends to think outside the box a bit more than most, which is good. I havent yet attended his seminars, but am considering going over for his August session.
    Obviously not expecting anyone to go into specifics about their particular plans, but feedback on how you found the service and how things are going using them would be great.
    Thanks very much for any replies
     
  2. bundy1964

    bundy1964 Well-Known Member

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    I have done the one day seminar and found what he had to say made sence to me. They do property as well and came up with cash bonds to fix DSR for people as well as the funds management side of things.

    I will be using their retail Australian fund once my LVR has been tamed. They can provide a hands on service or you can pick and choose. The cash return speaks for itself on the Australian funds if your looking to offset your negative gearing costs.
     
  3. coopranos

    coopranos Well-Known Member

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    Thanks for that Bundy.
    I guess I am wanting to differentiate between their managed fund and their financial advisory service. Obviously their fund has performed quite well, and I have recently put some money it in myself. I am trying to determine whether people consider their time/money spent with a navra FP is worth while, and actually has significantly improved their strategy and overall performance, as opposed to what they were achieving on their own.
     
  4. Liverpool St

    Liverpool St Well-Known Member

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    Navra Planners

    I started off a few years ago by going to one of the seminars, at that time it went over 2 days, I am unsure of their current policy but I booked in for a free consultation and haven't looked back. I have had 3 planners (2 have left to do the baby thing) - all 3 at the early accumulation stage of their financial stage, but I have been happy with all 3 (after 8 distributions). You really need to go to one of the Navra seminars, all will be revealed. I have company units/wholesale units and have purchased property thru the Navra group, so it makes sense to me. What do I know?? Pass the beer nuts.
     
  5. Here_To_Learn

    Here_To_Learn Well-Known Member

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    coopranos - my wife and I attended one of Steve's courses a little over 2 years ago. WOW ! That's all I can say.

    Following the course we decided to folk out some $$$'s to get a plan done thru the company's Planning service. We leant a lot thru the info gathering process and are now in execution mode.

    It did take some time to eventually understand the structure recommended and to then put everything in place.

    The service is not for everyone ... if you are however serious about reaching financial independance I can strongly recommend their service.
     
  6. Dr Lobster

    Dr Lobster Well-Known Member

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    I have attended the seminar twice now, have had a detailed financial plan prepared and had an update. I have also on occasion rung and asked for advice and tweaked my strategy along the way.

    I am a qualified accountant though I no longer account. I used to work for one of Australia's largest and most successful property developers as a financial analyst so I am familiar with numbers. And yet I found the services invaluable it two ways.

    1. The consultation with Navra confirmed that my strategy was correct and that I should continue in the direction I was heading.

    2. It cleared a lot of the noise out of my thinking and allowed me to focus better on what I was trying to do.

    Yes, it was recommended to me that I draw equity and purchase units in the wholesale fund, and yes I did that, and yes I'm stoked with the result.

    The fund is, for me, doing what I need it to do, and that's why I'm happy with the services of the financial planner.

    Everybody has a different level of understanding regarding investing and a different propensity to learning about investing. Therefore, a financial planner won't be for everyone.
     
  7. Barracuda

    Barracuda Active Member

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    My wife and I attended the course early last year and worked with the Navra planners to develop a strategy which have been using to great success. I have had appraisals done with other "property-based LOE" planners (ie, not your average bear planners) and have been pleased to have been told that there is nothing that they can add to our strategy and that we are well on our way.

    We work closely with our Navra reps and appreciate their counsel. We're really confident that they have a solid plan to get us to financial independence.

    Cheers,
     
  8. Leandro

    Leandro Well-Known Member

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    Hello,

    I started using a Navra Finanical planner about 2 years ago after being referred to the Steve Navra 2 day course by my brother (Here_to_learn). I enjoyed the course so followed up with the free initial consultation.

    My current planner, and i believe the other planners too at Navra Financial Services try to implement Steve's strategy to get people to achieve financial freedom. So, while the plans for each client are created to suit their individual needs at the time, they probably all involve the use of the Navra Fund in some way as this is part of Steve's strategy.

    So i can imagine that pretty much all clients invest in the Navra fund either to offset IPs interest cost, to help generate lifestyle cash etc. I don't think they would recommend any other managed funds except for the Navra one.

    Unlike some other financial planners, they do prmote the use of property in their plans and can also help to source properties.

    So overall, if you have confidence in Steve's strategy for creating financial freedom and would like someone to help you implement the strategy and of course get another opinion on your finances, then i would recommend them. If you have your own strategy then they might not be that useful to you.

    I hope this has helped.
     
  9. Redwing

    Redwing Well-Known Member

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    Hi Chris,

    I believe that Steve Navra visited Perth a few years ago and did a seminar and 'was' considering it again, but I dont think it ever eventuated (If it did I missed it..)

    Maybe one day he'll drop in again..
     
  10. coopranos

    coopranos Well-Known Member

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    I will probably shoot across next month to their one in sydney next month and check it out.
     
  11. Joe D

    Joe D Member

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    Redwing

    Steve Navra did a seminar here in Perth back in July 2003 with about 25 attending. I and a few of the SS people you know attended.

    It was a fantastic 2 day course that changed the way a lot of us were previously thinking.

    I have only recently joined this forum, but recognise a few nics.

    Cheers

    Joe D
     
  12. gad

    gad Well-Known Member

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    They do (or at least mine does) but that would depend on the clients situation.
     
  13. Glebe

    Glebe Well-Known Member

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    Well in the interest of balance I should point out that I also received financial advice from Navra Financial Services.

    I was charged $5000 for a pretty simple plan prepared by a paraplanner and their cookie-cutter software. It included all the typical stuff like 'you should get insurance through us'.

    The graphs might impress some people but it all looked pretty generic for me. This is partially because my situation was pretty simple (young, no IP's at the time nor were on the horizon at the time), but I can't help but do the maths on how much I spent (one month's salary) vs how long it took a paraplanner to prepare (2 hours?).

    I don't think the cost vs wisdom outcome was worthwhile for me. Hopefully you'll have better luck.

    I'm not anti Navra though - I'm in their wholesale fund and have thought Steve's optimisation courses are great.
     
  14. Nigel Ward

    Nigel Ward Team InvestEd

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    I don't believe that's correct. I've had numerous discussions with Mark Raymond and other NFS planners socially and they've indicated to me that they recommend a variety of funds dependent upon the needs of the particular client.

    Perhaps Mark Laz... who frequents this forum could confirm?

    Cheers
    N
     
  15. johnnyb

    johnnyb Well-Known Member

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    I have to agree with this. I think it is really a personal thing. I attended Steve's courve about 4 or 5 years ago, had an initial consultation, and put some money into the Navra fund, but didn't go much further. My wealth creation strategy aligns pretty much with the "Navra way", but I think it's clear enough to implement yourself (once you've done the course and hung around here and on SS for long enough :D), ie, buy properties when they fit certain criteria, put excess cash/unused equity into managed funds (income producing if you need it to service the IP debts, or growth otherwise) until you need it to buy another property.

    KISS! But then, I'm pretty lazy.

    John.
     
  16. Here_To_Learn

    Here_To_Learn Well-Known Member

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    Glebe, this is interesting ... any chance you could share what their recommendations were and why ?

    My interpretation of Steve's strategy is to keep purchasing IP's for CG and continue to extract equity to invest in his fund for income. Not sure why they would recommend any other fund :confused:
     
  17. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    Diversification; spread of risk; growth vs income; ensuring their clients actually get sound advice and not just a sales pitch for a related fund; etc etc

    I'd also suggest that the recommendations made to one individual are quite inappropriate to anyone else - there is a reason that disclaimers usually contain clauses such as "does not take into account your specific circumstances and investment goals". Everyone is different and hence requires a different approach.
     
  18. Glebe

    Glebe Well-Known Member

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    You mean: gad, this is interesting :)
     
  19. Here_To_Learn

    Here_To_Learn Well-Known Member

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    Sim, again ... my understanding of most of Steve's strategy is as follows :

    CG from IP
    Income from Shares

    Realise that every individuals circumstances differ. I am curious what funds Steve would recommend other than the Navra Fund. Particularly when his fund has been doing better than the 10% return most of us plan on.
     
  20. Here_To_Learn

    Here_To_Learn Well-Known Member

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    Sorry Glebe .. yes ... I mean gad !

    Doh ! :eek: