Fact Finding
Analysis
Recommendations
Fact Finding
We believe that every successful financial plan begins with understanding you and your goals. Our first step is to meet with you and gather all the essential details about your financial situation, dreams, and concerns. This is more than just numbers; it’s about getting to know you, your family, and your future aspirations. We’re here to listen and learn so we can craft a personalized plan that fits your unique life. Let’s embark on this journey together, starting with a conversation.
During the first step of our process we’ll gather the following information.
- Personal information Employment information
- Dependent information
- Completion of a net worth statement – including detail about all assets and liabilities.
- Tax return information including RRSP room
- Retirement planning information including desired retirement age and desired after-tax income.
- Information about all life insurance and living benefit coverage (including disability, critical illness and long term care) that is in place including employment coverage.
- Risk Profile Questionnaire – we complete this questionnaire to determine the risk profile of the client. This is important to determine the types of investments that will be suitable.
It is important to know what experiences a client has had in the past and what their expectations are going forward, including rate of return. Realistic expectations will ensure that the start of the relationship is well grounded.
Analysis
Once we have gathered all of the necessary financial and personal information we complete a detailed review. This includes a line by line review of your current investments. Our review will summarize the asset compilation, geographical breakdown and TSX sector breakdown.
Recommendations
It is important that we receive all of a client’s financial information so that they receive the best possible advice. Once we receive the client’s information, we will review and analyze their current holdings, life insurance and living benefits coverage with their goals in mind.
We consider educating people about their financial affairs as part of our holistic process. Included in our recommendations will be, but not limited to:
- Investment recommendations (including keeping or enhancing current holdings)
- Insurance needs analysis (does the client have the right type and amount of coverage?).
- Tax planning considerations (including TFSA accounts, RSP contributions) both individually and within a corporation.
We will also prepare a financial plan for the majority of our clients. In additon to the above noted areas, we will also provide an analysis and recommendations in regards to retirement planning (when, how much after tax requirements and will I have enough investments to retire), estate planning (wills, power of attorneys, planning for payment of tax, probate considerations and corporate tax free transfers) as well as cash management if required.
Monitor and Review
Depending on the size of your account, we typically meet with clients twice a year. You can access your accounts online anytime, and we are always just a phone call away. Additionally, the frequency of our interactions may increase based on market conditions to ensure you receive timely and relevant advice.