Financial Planning Process

FINANCIAL PLANNING PROCESS

  1. Introduction
  • Who I am
  • What I do
  1. Understand Situation
  2. Determine Goals & Objectives
  3. Review Investment and Risk Management
  4. Present Financial Security Plan
  5. Present Analysis and Go-Forward Strategy
  6. Implement Plan
  7. Annual Review and Monitoring

Financial Planning Overview

I work with my clients to create a financial security plan that addresses their concerns in four key areas: financial security at death, living benefits, liquidity and retirement. Their financial security plan will be tailored to their needs, risk tolerance and the goals they want to achieve.

Cash Flow and Debt Management

My financial planning process will involve an analysis of your current cash flow and debt levels through a comprehensive budget review.  I will make recommendations on how you can make the most effective and efficient use of your cash, expenses and what you can do to best structure your debt and most effectively pay it down.

Investment Services

I pride my practice on my commitment to a proven process. Before ever making any investment, I first work with clients to develop a complete understanding of their financial position, concerns, tax position, goals & objectives and estate planning. I then work with my clients to help them determine their financial goals and objectives in short, medium and long term. I create a financial forecaster assessment that quantifies my clients ability to meet their goals and objectives given their current financial realities with varying growth assumptions. I believe this is an important tool in determining how much risk NOT to take and establishes baseline investment parameters. I believe this holistic approach allows me to make unique and tailored investment recommendations.

Risk Management

In most cases, the ability of my clients to achieve their intended financial objectives relies on their ability to earn an income. I work with my clients to help ensure the sustainability of income in the event of a disability or critical illness. Using an innovative array of products designed for families, business owners and professionals. I can help mitigate the financial impact in the event of an unexpected medical event.

Estate Planning

I work with families, business owners and professionals to build an estate plan to help ensure their financial matters are distributed the way they would like them to be after their death. It can also help reduce taxes, so more of the estate is left for heirs.

Insurance Solutions

Unexpected events can leave your family without the cash flow needed for day-to-day expenses. I offer a range of products that can provide temporary or permanent coverage to replace your income, fund expenditures that arise due to a death (ie. taxes or final expenses). I can help determine your needs and decide which insurance product solution is best for you.

However, there are other features of life insurance that benefit families, business owners and professionals depending upon their current and long term financial positions. I provide three basic insurance solutions to my clients.

  • Insurance needs over time
  • Alternative investment vehicle for fixed income
  • A strategy for corporate asset efficiency
  1. Temporary and permanent needs over time

Life insurance meets different needs at different stages of your life. You should update your coverage to reflect important events in your life.

  1. Insurance as an alternative investment asset class for taxable fixed income

The major advantage of using life insurance (permanent participating) as an alternative asset class is:

  • Tax advantage on growth
  • Low fees
  • Asset protection
  • Estate tax reduction
  • Stable yields

Tax advantage life insurance products are structured such that a certain amount of life insurance is purchased to ensure that the policy will qualify under the MTAR rules and therefore remain an exempt policy, while at the same time providing the maximum amount of tax advantage income accumulation.

Depending upon client circumstances, funds can either be used to provide an income stream during their lifetime (living benefits) or enhance the value of their estate upon their death.

  1. A strategy for corporate asset efficiency

Save it – Redirect your company’s excess cash from taxable investments to tax advantaged permanent insurance. Growth inside the policy is not eroded by income tax, within prescribed limits. Save on taxes to keep more money working for you.

Spend it – Access the policy’s accumulated cash value by using the policy as collateral for a line of credit. Use loan advances to provide your business or yourself with a stream of income.

Leave it – At death, the policy’s death benefit pays off the loan. The full death benefit payable to your company (less adjusted cost basis, if any) is eligible for distribution to shareholders – including your successors or heirs – as tax-free dividends.

 

The Team Behind Your Financial Security Plan

My support team consists of specialists in:

–       Retirement and investment –       Living benefits
–       Life insurance –       Employee benefits
–       Banking and mortgages –       Tax and estate planning

 

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