Our Holistic Approach

We adhere to the standards and best practices of our profession. This recognizes the six basic steps in the financial planning process. It also includes a disclosure regarding compensation and an engagement letter.

1) Clarify present financian situation including: net worth, cash flow, tax position, life and disability insurance  coverage, powers of attorney and wills.

2) Establish realistic goals and objectives, with reasonable assumptions.

3) Identify problem areas and opportunities:

  • a) Net worth  and cash flow issues
  • b) Investment planning and strategies: risk tolerance, asset allocation.
  • c) Retirement and financial independence planning: RRSPs, RRIFs, TFSAs, CPP, OAS and pension plans.
  • d) Tax planning and tax rates, income splitting
  • e) Risk management: insurance coverage including beneficiaries and tax issues.
  • f) Estate planning: executors, guardians and trusts
  • g) Powers of attorney, beneficiaries on policies and plans, joint property (JTWROS) & familty property.
  • h) Special needs, educational funding, disabled loved ones.

4) Provide written recommendations and alternative solutions: The pros and cons of each recommendation are clearly explained in the plan. Alternatives are provided where applicable.

5) Implementation of strategy: Action steps necessary with time expectations for the implementation of the financial plan.

 6) Ongoing monitoring and review of plan: The plan should be reviewed for progress annually or upon significant changes in client's circumstances.