Our planning process
The BMO Nesbitt Burns WealthPath software is the cornerstone of our service offering. This sophisticated tool allows us to paint an accurate picture of your current financial situation and then, based on realistic assumptions, build a plan that helps you achieve your retirement goals.
WealthPath lets us generate multiple scenarios under different assumptions. Ideally, an annual meeting allows us to revisit those assumptions and your retirement objectives, and adjust them to your current circumstances. The resulting model accounts for significant data such as current and future investment values, anticipated returns based on your target asset mix, inflation and tax rates, and cost-of-living trends.
Through this process, our team develops a deeper understanding of your goals, concerns and aspirations. This allows us to provide personalized advice and recommend products and services tailored to your unique needs and evolving circumstances.
Life insurance, for instance, should be revisited regularly: depending on your stage of life, some types of coverage may be more appropriate than others. Estate planning matters just as much — having a current, up to date will helps preserve your legacy and minimize income taxes for your estate.
According to FP Canada, “Those with comprehensive plans feel their financial goals and retirement plans are more on track; their ability to save has improved in the past five years; and they are more confident they can handle the inevitable bumps in life."