20 September, 2018

Valued Advice

Valued Advice

Advisors have historically helped their clients grow their assets 3.9 times more than non-advised individuals over a 15-year period. That’s a stunning figure by any measure.

Today, I want to build on that number and talk about some of the behavioural and long-term wealth planning benefits I provide.

Focusing on your goals

Between family, work, friends and hobbies, people are pulled in many directions. Financial planning often suffers as a result. As an experienced advisor, one of my most important tasks is to keep you focused on your goals. I do that via ongoing communication and helping you maintain a plan that reflects your life – both today and in the future. Together, we’ll outline, track and revisit your goals whenever necessary to ensure you stay on your chosen path.

Managing market volatility

While market downturns are inevitable, that doesn’t make them any less of a challenge. When the market drops 5%, 10% and even 20%, many investors think it’s time to revisit their plan. As the 2008-2009 financial crisis taught us, doing nothing except continuing to invest is typically the best approach. Many stock markets have been performing well for close to a decade. Individuals who sold their investments in 2008 missed an outstanding long-term investment opportunity. And this has been the case throughout history.

Planning your estate

You’ve been financially successful, and the last thing you want is for your hard-earned wealth to be mismanaged in your estate. I, and the team of tax and estate experts I can connect you with, will ensure your wishes are met, from setting up a trust to gifting properties and creating a charitable foundation. This type of planning is complex and requires expert advice to ensure your estate is set up efficiently from both administrative and tax perspectives.

Dealing with illiquid assets

Cash, bonds and stocks are liquid assets and important parts of most people’s financial plan. You, however, have been more successful than most. As a result, you probably have illiquid assets, such as a vacation property (or two) and a business, which require extensive planning. Working with a knowledgeable advisor will help you manage these illiquid assets by determining what to do with them when the time comes to move on, as well as long before that day. Your advisor can also help ensure your business and personal finances are kept separate, which is fundamental to your long-term financial health.

The value I bring is rooted in a deep understanding of your whole financial situation, our ability to work together towards your goals and my ability to find the solutions that will get you there more effectively and efficiently. Open communication is at the core of these important factors.

Call my office and let’s talk about your goals.

1The Investment Funds Institute of Canada, The Gamma Factor and the Value of Financial Advice, 2017.