Financial Vision Statements–we believe there is value in understanding your unique story. Knowing your history gives us perspective on both your successes and challenges; whereas your future vision tells us what is important to you. When we take the time to understand, we inevitably find ways to help make that future vision a reality. This “tell me your story” exercise is foundational to starting any new relationship. In short, we document what we hear, we feed it back to you to make sure we heard you correctly and we make adjustments. As life moves on, priorities change.
The Quarterly Roadmap–understanding what the future should look like is step one. Step two is building a roadmap to get there. In our case, it is a two year quarterly plan which is customized to you. There are some routine items that need to be addressed on an ongoing basis and then there are the things we have to work on collectively that are specific to you. From helping with your grandchildren’s education, to creating a family foundation, nothing is overlooked.
Bubbles Estate Planning Exercise–created out of frustration when we couldn’t get one of our clients to put a practical estate plan in place, this exercise allows us to visualize the flow of major assets upon death based on how your will and assets are currently structured. It also allows us to visualize how we might improve the plan and explore the “what if’s”.
Tax Filing Review –once your returns have been filed, we encourage clients to send copies of them (complete with schedules) to us. Often the easiest way to do this is to ask your accountant to forward a copy via e-mail to us. We will do a quick review of the investment-related areas of your tax return. It never hurts to have a second or third set of eyes on these, and over the years we have found a considerable amount of deductions and tax slips missed that have resulted in additional amounts owing to our clients. Notices of Assessment are also helpful to have on file, so that we can keep up to date on RRSP deduction limits and any unused contributions and/or capital losses.
Insurance–first up, you should recognize that we are not insurance centric. In a nutshell, any money that goes into an insurance premium is money that is not available for investment into The Dividend Value Discipline™. That said, insurance does have a place in many of our clients’ overall financial plan. When that need is apparent, we bring in an estate planning specialist from Raymond James Financial Planning Ltd. to assist us with analysis, carrier selection and underwriting.