Paul Bar:

(905)709-4914
Lori Coverdale:

(416)898-1578
Ross O’Doherty:

(647)298-6760

We collect the essential information from our clients by administering a questionnaire. The questions detail our client’s financial situation and lifestyle. This process is supported by the following:

• - examination of past income tax returns
• - analysis of life, disability, home and property insurance policies (risk management)
• - review of wills of all family members
• - ascertaining of "soft-data" ( lifestyle preferences, risk tolerance with respect to investing/comfort zone levels)
• - derivation of cash flow and net worth statements from pertinent information, and
• - examination and analysis of "Employee Benefit Plans" where applicable.

At this point, we determine in as much detail as possible, actual goals and objectives the client wishes to achieve. Both spouses are encouraged to be actively involved in this process. Goals may be to retire early, maximize retirement income, minimize taxes, reduce portfolio risk, provide for the education of a child, travel, or simply to learn to manage their money.

Here we translate our client’s goals, ambitions and dreams into realistic financial terms. For example, how early is ‘early’ retirement. And how do our clients define ‘retirement’ – playing golf six days a week? travelling? pursuing hobbies? Obviously some retirements will cost a lot more than others and we help determine those income levels that will be required. That income level, in turn, determines the extent to which our client will need to accumulate savings and investments between now and the projected date of retirement.

Unbiased recommendations will then be made, acknowledging different schools of thought so clients understand all sides of the story. A particular course of action is proposed based on sound financial planning principles and professional judgements that apply to the particular client’s needs and desires.

The plan has a two-fold purpose: First, it serves as a blueprint for financial security and secondly, it becomes the benchmark against which the results of the plan will be measured.

The length of any plan depends on the complexity of the client’s situation and their needs. We carefully review the plan with our clients so it is fully understood.

Once our client confirms the plan, the next step is to implement the plan on the schedule laid out in the recommendations. We share the obligation with our clients to make sure the proper professionals are contacted and the strategies take form. There is no plan in the world worth anything unless it’s followed by appropriate action.

A financial plan is never carved in stone. In fact, as circumstances or situations change, there will be a need to reevaluate the plan. Changing variables might include a new baby, an inheritance, death of a spouse or an external condition like a change in the tax law. In any case, monitoring of the plan is vital to the survival of one’s financial future.