Financial Planning- 6 Key Steps

What can a financial plan do for you?

 

Provide a roadmap to achieve financial goals such as:

  • Saving for retirement

  • Providing for post-secondary education

  • Ensuring your family’s financial security

  • Building wealth

  • Minimizing taxes

  • Leaving an estate for your heirs


Building your plan


Advocis (the Canadian Association of Financial Planners) recommends six key steps to the financial planning process


  Clarify your current financial position
  Identify measurable goals and objectives
  Identify financial barriers or issues
  Provide alternative solutions to create a strategy
  Implement the strategy
  Periodically review and adjust the plan


How to get started


Our proprietary sophisticated planning software makes it easy to follow the Advocis recommendations. We can develop a systematic plan designed specifically for you. Your plan will have clearly defined goals, achievable steps and appropriate benchmarks. Note that purchase of financial products comes late in the process and investment vehicles will only be chosen if they can contribute to your goals.