The Planning Process

The Planning process identifies and takes steps to achieve your key financial objectives (e.g. debt reduction, major purchases, retirement savings or education funding). It involves the development and ongoing review of a plan to determine if you are on track to meet your financial needs throughout the various stages of your life.

  • Develop an understanding of your financial goals and objectives
  • Assess your investment constraints and timelines, and your risk tolerance coordinate with wealth management professionals to implement your financial objectives.
  • Explain why it is important to update your plan when a material change occurs (e.g. new job, addition to family, change in marital status, etc.)
  • Complete a periodic review of your plan, making adjustments where needed

Investment Planning:

Investment planning involves the construction and ongoing review of your investment portfolio. It covers all activities related to your portfolio, including selecting appropriate investment vehicles and determining and refining your asset allocation strategy — all with your investment objectives, time horizon and priorities in mind.

Review your investment knowledge, objectives, risk tolerance and timelines. Discuss and build an asset allocation strategy (percentage of your portfolio to be invested in cash, fixed income, equities, alternative investments, etc.) Select suitable individual investments

  • Construct an investment portfolio
  • Provide ongoing portfolio monitoring, review and rebalancing

Retirement Planning:

The retirement planning process looks to determine your retirement goals and the necessary steps to achieve them. Retirement planning includes identifying sources of income, estimating expenses, projecting retirement income needs, implementing a savings program and effectively coordinating your post-retirement income sources by selecting the right retirement account types (RRSP, RRIF, LIRA, LIF).

  • Complete a retirement income needs analysis
  • Review current and expected retirement cash flow sources
  • Help prepare a budget to reach retirement goals
  • Discuss early retirement options
  • Evaluate appropriate retirement strategies
  • Select appropriate investments
  • Develop strategies to minimize taxes and maximize retirement income

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Estate Planning:

The estate planning process allows you to preserve your legacy. It involves developing a plan that can reduce the taxes and expenses of your estate, simplify and speed the transition of assets to the next generation and ensure that your beneficiaries are protected. This essential step maximizes the legacy to your family, charities and other beneficiaries.

Help facilitate the preparation of a Will and the selection of an executor by engaging estate planning professionals

  • Retirement Planning
  • Estate Planning
  • Create strategies to minimize or defer taxes before/upon death
  • Discuss multigenerational wealth planning and transfer
  • Advise on investments and account structures to suit estate planning needs (e.g.joint non-registered accounts)

Tax-Efficient Strategies:

The tax planning process helps you to meet your tax obligations while achieving tax efficiency through a number of strategies. These tax minimizing strategies include the selection of appropriate investments and retirement plans, as well as the timing of income and the purchase and sale of investments.

Discuss various tax rates on investment income

Review various tax strategies to minimize personal and corporate taxes payable

Help select appropriate tax-efficient account types (e.g. RRSP, RRIF, TFSA, etc.)

Discuss income splitting strategies

Engage qualified tax professional(s) Examine charitable giving options

Risk Management:

Managing risk is an important part of protecting your wealth, lifestyle and independence. The risk management process uses a variety of insurance strategies and investment solutions to protect you and your family by reducing the financial impact caused by potential adverse events such as disability, illness or death.

  • Complete life insurance needs analysis
  • Evaluate different types of life insurance and trust arrangements
  • Consider your needs for business insurance
  • Discuss long-term care insurance options
  • Work with a licensed professional to provide appropriate life/disability/critical insurance solutions
  • Review group life and health insurance plans
  • Advise on the potential tax advantages of various insurance products.

Education Planning:

Saving for post-secondary education is an important milestone — whether it's for a loved one or yourself. The education planning process allows you to prepare and save for the goal of post-secondary education and take advantage of government grants and investment vehicles that maximize the potential for tax-free growth.

  • Complete needs analysis for education savings
  • Evaluate the appropriate savings vehicle(s) (e.g. RESPs, trusts, etc.)
  • Recommend appropriate investments
  • Discuss government grant qualifications