Getting the best from a financial advisor

October 1, 2018/in Blog, Business Owners, Charitable Gifting, corporate, disability, Estate Planning, Family, Group Benefits, health benefits, individuals, Investment, life insurance, long term care, pension plan, Retirees, rrsp, tax, Tax Free Savings Account, travel insurance/by Financial Tech Tools

Working with a professional to help you to make sense of your finances can be a wise move, but for this relationship to work effectively it is important that you understand what to expect from your financial advisor.

What can your financial advisor help you with?

Defining your financial goals and creating a step by step plan or strategy to achieve them.
Planning for the future, including for retirement, future education or housing needs.
Choosing the mix of investments and assets that suit your goals, lifestyle, time horizon and appetite for risk.
Building a solid estate for your family to inherit in the future.
Choosing the most tax-efficient methods of saving and investing.

What should your financial advisor inform you of?

The range of services that they offer and how much and by which method you will compensate them.
Your mutual responsibilities and obligations towards each other.
What the planning process will look like and the documents that they will provide you with.

What will your financial advisor need from you or need to ask you about?

What your financial goals are.
What your personal circumstances – such as your marital status, any dependents, your job, earnings and tax situation.
Any investments or assets that you currently have – such as registered accounts, workplace pensions, property etc.
Your appetite for risk and investment preferences.
Information on your income and also your outgoings, including debts such as mortgages, loans or credit cards.
Whether or not you have a will, and its contents.
Your estate and inheritance planning situation.

If you’re looking to achieve your financial goals, talk to us. We can help.

The information provided is based on current laws, regulations, and other rules applicable to Canadian residents. It is accurate to the best of our knowledge as of the date of publication. Rules and their interpretation may change, affecting the accuracy of the information. The information provided is general in nature and should not be relied upon as a substitute for advice in any specific situation. For specific situations, advice should be obtained from the appropriate legal, accounting, tax, or other professional advisors.

Insurance products, including segregated fund policies, are offered through Alta Vista Planning Partners Inc., and Investment Representatives Dana Osburn and Gregory Wilson offer mutual funds and referral arrangements through Quadrus Investment Services Ltd. Make your investment decisions wisely. Important information about mutual funds is found in the Fund Facts document. Please read this carefully before investing. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Unit values and investment returns will fluctuate.

Insurance products, including segregated fund policies, are offered through Alta Vista Planning Partners Inc., and Investment Representatives Dana Osburn and Gregory Wilson offer mutual funds and referral arrangements through Quadrus Investment Services Ltd. Make your investment decisions wisely. Important information about mutual funds is found in the Fund Facts document. Please read this carefully before investing. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Unit values and investment returns will fluctuate.