Financial Plan
Fee-Only Advanced Financial Advice
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Mission: to assist clients at any age and provide cost-effective services as they move through different stages of life.
Financial planning is a broad, comprehensive process consisting of six areas. It’s a holistic approach that focuses on more than one aspect of your finances.
The Six Financial Planning Areas
Financial Management
Investment Planning
Insurance & Risk Management
Tax Planning
Retirement Planning
Estate Planning
We may meet in-person or online to create your financial plan.
✔️Establish the client–advisor relationship
✔️Collect data and information
✔️Analyze data and information
✔️Recommend strategies to meet goals
✔️Implement recommendations
✔️Conduct a periodic review or follow-up
My primary service offers comprehensive or modular financial planning to meet your individual needs. ✔️Your comprehensive (intensive) financial plan is a six-step process that is ongoing and assists you in making well-informed decisions about your money. It includes taking a close look at your current financial situation, setting short-, medium-, and long-term goals, and developing a plan to achieve those goals. This 'comprehensive' more-intensive financial planning approach is $1895 + HST.
✔️Your modular (less-intensive) financial plan is where one will choose a goal-based approach that will focus on up to three of the six steps but not all six. We discuss short-term, mid-term, and long-term goals, investment strategies, and tax planning strategies. This 'modular' less-intensive financial planning approach is, therefore, a less expensive fee of $895 + HST.
At the first meeting, 50% of the planning fee is to be paid. The remainder of the fee will be paid when the plan is delivered to you.
❔🔍 Your Financial Discovery
Individuals seldom have a single goal. People may envision a distant retirement but are more likely to have their hearts set on a home, cottage, or post-secondary education for their children. You may be concerned about your income today and tomorrow, as well as the financial well-being of your children and grandchildren. Your goals typically may be focused on some of the following: Family and lifestyle, Protecting lifestyle, Planning for the future, Managing life savings, and Building a legacy.
➡️ Formulating the Plan (integrating financial planning and investment management)
To create a comprehensive financial plan, I will need accurate and detailed information about your assets, liabilities, income, and expenses. Then I will prepare net worth and cash flow statements, a preliminary budget, a risk tolerance and risk analysis, tax projections, a retirement needs analysis, and investment portfolio considerations. This information gives us a clear picture of your situation and provides valuable insight into whether your goals are achievable. We will determine risk/reward trade-off - asset allocation investment strategy and - passive and/or active management combinations.
📈 Formalizing and implementing the plan
📘Option 1 - is to open an account where asset management will be managed by yourself in an order-execution-only account.
📘Option 2 - is to open an account where asset management will be managed by professionals who carry out your instructions in a non- discretionary account.
📘Option 3 - is to open a discretionary account set up with an asset management professional; the portfolio manager performs the investment decisions.
📊 Reporting, reviewing, and rebalancing
We will review your financial plan at least once a year or if your financial situation changes.
Please use this opportunity to ask me any questions about the plan.
PurchaSe Your Plan
PurchaSe Your Plan
📗 Your comprehensive financial plan is $1895 + HST.
📘 Your modular financial plan is $895 + HST.
50% of the plan fee is to be paid when we sign the Letter of Engagement . The remainder of the fee will be paid when the plan is delivered to you.
The invoice will be emailed to you and payment may be either:
Online bank transfer
Credit Card-Square Point of Sale (POS) payment link in the invoice
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