Wealth planning is an ongoing process that includes:


Evaluating your current situation

  1. What is your financial position? This is a combination of your net worth (assets, minus liabilities) and your annual cash flow (income, less expenses and savings). This information provides an overview of the financial resources currently available to meet your goals.

  2. Is your investment strategy consistent with those financial goals?

  3. Are you in a position to fund your children’s post-secondary education?

  4. Will you be responsible for the care of an aging parent or spouse, or a mentally or physically challenged child?

  5. If you were to die, would your family be financially secure?

  6. If you become disabled, will you have enough income to manage until you are well again?


Clarifying your goals 

  1. Identifying and prioritizing your goals – what are your top 3 goals. We help you prioritize your goals.

  2. Ensuring when you need to meet your goals - What rate of return do you need to achieve your goals

 

Identifying hurdles in achieving your goals and considering alternative solutions 

  1. Do you need to postpone your retirement?

  2. Do you need to save more or work longer?

 

Developing a comprehensive written analysis with recommendations

 

  1. Investment planning: A successful investment strategy begins with asset allocation and diversification.We review the asset mix for each of your investments, registered and locked-in accounts and then compare our assement to what is being recommended for accounts with investment objectives that meet your needs.
  2. Major purchase planning: If you have a major purchase on the horizon, such as a dream vacation, new vehicle or a vacation property, your existing savings strategy is compared to the future purchase cost to determine whether your current strategy will allow you to meet your goal.
  3. Retirement planning: Combined sources of retirement income are measured against retirement goals to ensure you can maintain your desired lifestyle throughout retirement.
  4. Estate planning: A summary of your estate’s distributable assets and obligations is provided, (e.g., income taxes, probate costs and debts) including an overview of the income needs of the surviving spouse and if more capital is needed to support the survivor’s lifestyle.
  5. Implementing your plan: Once approved, we will execute our recommendations with precision and care and follow up to ensure nothing falls through the cracks.
  6. Reviewing your plan on a regular basis: We sit down regularly to review your portfolio and Wealth Plan to ensure we proactively keep current with any changes in your circumstances or priorities and keep you on track to achieve your goals.