How it Works

So – you have decided that you want independent financial advice from an unbiased advisor. How does this look?

You may need help:
  • Balancing your spending and saving.
  • Knowing if you can afford to retire and how much you can spend.
  • Making sure you investments are performing the way they should.
  • Trying to reduce the amount of tax you pay.
  • With any other financial questions or concerns.

As your financial coach we will help you look at the big picture and make sense of your finances.

Generally your questions or concerns will fall under the 6 financial planning categories of your Comprehensive Financial Plan. Your life stage will often determine what your most pressing areas are. We can provide advice on a particular area of concern or provide a comprehensive plan.

How much it costs will depend on the complexity of your financial situation and what kind of advice you are looking for. An estimate will be provided before any work is done.

When working with us, as fee-for-service planners, you can rest assured you are getting independent and unbiased advice.

Your Comprehensive Financial Plan

We provide comprehensive financial planning.

Financial Management / Cash Flow Planning

Analyzing current and future cash flows will help you understand if there are gaps between where you are today and where you want to be.

  • Are you saving enough to reach your goals?
  • Do you have a debt reduction/elimination plan?
  • Should you pay down debt or save for retirement?
  • Do you feel secure about your retirement income?

Investment Management

Whether you have an investment advisor or are managing your investments yourself, we can help by:

  • Providing a second opinion on your current investment strategy to ensure you are getting value for your money and that your advisor is looking out for your best interests.
  • Review your investment and saving strategies to make sure you are moving toward your goals.
  • Referrals to investment management firms, vetted for quality and value. We do not receive referral fees.

By having a plan in place and understanding your investments better and the fees involved, you will feel more confident and in control.

Tax Planning

Tax planning involves looking at the past and having a strategy for the future – a strategy that will help you minimize the amount of taxes you pay – with considerations such as:

  • Can I benefit from any type of income-splitting strategies?
  • Are spousal RSPs still beneficial?
  • Ensuring investments are as tax-efficient as possible.
  • Tax effectively drawing down investments.
  • Charitable giving – making a difference in the most tax-efficient way.

Retirement Planning

Retirement Planning involves making sure you are on track to retire when you want, with the income you want. With a Retirement Plan, we can answer such questions as:

  • How much do I need to save? Will I have enough?
  • Am I getting the most out of my work savings plan?
  • How does my pension work, and how will it contribute to my retirement income?
  • When I leave work, will I have to make a decision about my pension?
  • Should I use an RSP or TFSA to save?
  • How much should I expect from CPP and OAS?

Retirement Income Planning comes into play when you retire and you need to convert your accumulated retirement resources into a paycheque. You will want to consider things such as:

  • How much can I spend without running out of money?
  • Should I start withdrawing from my RSP before 72?
  • Is it a good idea to take CPP early or late?
  • How do I draw down my investments?
  • Should I purchase an annuity?
  • Can I help my children buy a house and help grandchildren with education costs?

Estate Planning / Legal

After more than 65 years of combined industry experience, we have seen many of the pitfalls that come without a well-thought-out estate plan. Having a will does not constitute an estate plan. A well designed estate plan can:

  • Minimize the stress and cost for your loved ones of processing your estate.
  • Give you a sense of peace knowing that your loved ones will be looked after.
  • Ensure your property goes to the right beneficiaries in the most tax efficient way.
  • Safeguard assets that are passed on.

A regular review of your estate plan will ensure your changing assets and family situation, as well as changes to estate and tax laws, don’t derail your plan.

Risk Management / Insurance

Managing risk in your life is often an overlooked piece of the plan, but it is an important part of the financial planning process. Insurance is often the tool used to manage many of these risks.

  • Establishing how much and what type of insurance is necessary – if any – depending on your goals and financial situation.
  • Provide advice on the structure of your insurance.
  • Reviewing your situation regularly is important too as your insurance needs can change over time.

"Someone's sitting in the shade today because someone planted a tree a long time ago."

Warren Buffett