Financial planning

Whatever you want to achieve in life, a financial plan helps bring focus to your overall strategies to help you achieve them. These goals can be long-term, like retirement planning, or shorter term, like saving to buy a house.

Whether it’s growing your savings, cutting the interest you have to pay, or reducing debt, a financial plan can help you get better financial outcomes.

By analyzing your current financial position, we can help create a safety net for you and your family and plan for unexpected events in your life.

Working with a financial advisor will help you know your RRSP from your TFSA, and your PAC from your HISA. We’ll talk you through the often-confusing world of finance so you feel confident in the choices you make. And we’ll stick with you over the years so you always have a financial expert on your team through all life’s twists and turns.

A financial plan doesn’t give you only financial benefits. A major study of Canadians found that those of us who have a comprehensive financial plan have significantly higher levels of emotional wellbeing than those who just try to navigate one day at a time.**

What’s the biggest misconception about financial planning?

Kristin: I’d say the number-one misconception is that people think they need substantial wealth to build a financial plan. That’s simply not the case. You start a plan in order to begin building wealth.

How long does an initial meeting usually last?

Kristin: The initial discovery meeting lasts about an hour. Prior to the meeting, customers will receive a checklist so they’ll know which documents they should bring. The advisor will draft an initial plan based on the information submitted. During the meeting, the advisor will ask questions to understand the customer and their unique goals and needs. Then we’d have a shorter follow-up meeting to present the plan and discuss various options to help you achieve those goals.

When should people begin to think about creating a financial plan?

Kristin: The minute that you’re working and filing your taxes, it’s time to start a financial plan. While an initial plan for someone starting out in life might not be that extensive, it’s crucial to start the process early on. It’s all about financial education, so that people can begin to make better financial choices.

What are some of the top reasons people put off financial planning?

Kristin: I think a lot of it is fear. People procrastinate because it’s not always easy to examine their finances, especially if there are issues. As a financial planner, my job is to make people comfortable and put their mind at ease by building a plan to help them best meet their goals.