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Helping you clarify and achieve your financial goals.




Tel. 780-429-6775
Fax. 780-424-0004
100, 10585 - 111 Street
Edmonton, Alberta  T5H 3E8

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Financial Planning Services

Our Fee-Only Financial Planning services may take a variety of forms.

Many of our clients prefer a modular approach to their Financial Planning. We will tailor the service to deal with your most pressing issues. We answer those questions that are most important to you today. Once the initial problems have been resolved, many clients return to review other areas of their financial health.

PERSONAL

CORPORATE



PERSONAL

Retirement Planning

Our most popular Personal service. We will assist you in addressing the following questions.

  • When do you want to retire?
  • How much do you want to spend in your retirement?
  • How much do you want for your kids/heirs?

With the answers to these questions we will work with you to determine; how much you need to save to be able to retire? Are you on track for meeting that goal and what changes are necessary to enable you to meet that goal? Should you start your pension early? When can you get Old Age Security? Will it be clawed back? Should you draw from RRSPs or non-registered funds first?

To address this matter typically we will meet with you 2 - 3 times over 2 - 4 weeks weeks. There may be follow-up meetings required for implementation and we always recommend an annual review. Generally these meetings will also touch on some tax and investment issues. The first 2 meetings generally take a total of 4 - 6 hours.

Initial Meeting
  Scope of Engagement
  Estimate of Cost
  Data Gathering
    - Goals
    - Current Financial Situation
    - Problems & Opportunities

2nd Meeting
Financial Projections
Recommendations and Alternative Solutions

3rd Meeting (if required)
Implementation Assistance

1 Year Meeting
Review

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Income Tax Planning & Annual Tax Return Preparation
Income Tax Planning

Relevant articles

  1. What to Bring With You

Can you reduce the amount of tax that you are paying? Should you contribute to an RRSP or should you invest in capital gains producing investments outside your RRSP? How should you manage your investment portfolio to take advantage of tax preferential income? Are there any "tax shelters" you should consider? What opportunities do you have to split your income with others in your "tax family"?

The Income Tax planning process generally follows the same format as for retirement planning and takes an average of 2 - 4 hours.

Initial Meeting
  Scope of Engagement
  Estimate of Cost
  Data Gathering
    - Goals related to Tax
    - Current Financial Situation
    - Problems & Opportunities

2nd Meeting
Financial Projections
Recommendations and Alternative Solutions

3rd Meeting (if required)
Implementation Assistance

1 Year Meeting
Review

Annual Tax Return Preparation

We also offer personal tax preparation services for our clients, generally in March in April (the tax season). We find this is also a convenient opportunity to remind you of tax and retirement planning goals.

The Tax Preparation process is more streamlined and generally can be accomplished in one 1 - 2 hour meeting during the tax season to which the client brings all the required information slips. The Return is usually completed during the meeting and filed Electronically.

The client is provided with a "paper" copy of the return, and a copy is retained in our office so that we may assist in any follow up with Canada Customs and Revenue Agency (CCRA).

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Investment Planning & Monitoring
Investment Planning

What rate of return do you need to meet your goals? Are your current investments achieving that return? Do you need to take risk with your investments? Do you want a higher return? How do you get a higher return while minimizing the risk? What asset allocation should you have? What investments should you use to implement that asset mix? The goal from answering these questions will most often be a personalized Investment Policy.

Investment Planning is a component of Retirement Planning and Comprehensive Financial Planning and thus, follows the same process. The Investment Planning component generally can be accomplished in 3 - 5 hours.

Initial Meeting
  Scope of Engagement
  Estimate of Cost
  Data Gathering
    - Goals related to Investments
    - Current Investment Portfolio(s)
    - Problems & Opportunities

2nd Meeting
Review & Finalize Investment Policy
Discussion of alternative Investment Policy Solutions

Implementation & Monitoring

Are your current investments matching your asset allocation and risk tolerance? Are your investment returns consistent with the market returns for portfolios of similar asset mix and risk profile?

Implementation & Monitoring follows logically from Investment Planning. When the Investment Policy has been finalized, an annual meeting to update and review your goals and assess performance is usually sufficient, except in the case of a change in your personal circumstances. This meeting can often be combined with an annual Financial Planning review.

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Insurance & Estate Planning

Do you need insurance (life, disability, critical illness, long term care)? If so, how much and what kind of insurance? Who should own the insurance (you, your company, your spouse or children)? What are the risks involved and how can you evaluate your personal needs.

Many people that don't need insurance have it. Likewise many people that don't have it need it, and finally, there are many that need it that can't get it. The process for Insurance Planning is designed to help you determine what's best for you. It will follow the same process as for any planning exercise. It is important to recall that our advice is not based on potential product sales, but rather what is best for your particular situation. This process averages 2 - 3 hours.

Initial Meeting
  Scope of Engagement
  Estimate of Cost
  Data Gathering
    - Goals
    - Current Insurance Program
    - Problems & Opportunities

2nd Meeting
Financial Projections
Discussion of Insurance needs and alternatives.

Estate Planning

What size of estate do you want to leave? How do you get it to your beneficiaries as quickly and as easily as possible? Will there be enough in the estate to pay the taxes? Can you reduce the taxes that you pay on your death? Can you reduce the taxes for your heirs?

Everyone should have a will to ensure that your wishes are carried out upon your death. If you do not have a will, your estate could be settled in a manner that you would not approve.

Quite often, this service is undertaken at the time you are preparing or updating your Will(s) with your legal advisor. We often work with your legal advisor to evaluate effective financial solutions to meet your goals.

While the process is similar to other financial planning processes it is often customized to include the requisite advice from your lawyer. Gathering the information and making recommendations can generally be completed in 2 - 3 hours.

Initial Meeting
  Scope of Engagement
  Estimate of Cost
  Data Gathering
    - Goals in Estate Planning
    - Current Financial Situation
    - Problems & Opportunities

2nd Meeting
Financial Projections
Discussion of Estate needs and alternatives

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Education Funding

How much do you need to save to (help) pay for your childrens' (or grandchildren's) education? What is the most tax effective way of saving for children's education. Should you use an RESP or an informal trust of capital gains producing investments?

The cost of post secondary Education in Canada has risen dramatically over the past 15 years. While there appears some evidence that rate of increase is declining, the fact remains that the cost of a college education is one of the most significant expenses a family will encounter. The number of children magnifies this cost. The earlier one can establish a plan to address these potential expenditures, the better the chance you will be prepared to meet the costs. This process can generally be accomplished in 2 - 3 hours.

This process is similar to the other planning processes.

Initial Meeting
  Scope of Engagement
  Estimate of Cost
  Data Gathering
    - Goals for Education
    - Current Financial Situation
    - Problems & Opportunities

2nd Meeting
Financial Projections
Discussion of alternatives

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Cash Flow & Debt Management

Relevant articles

  1. What to Bring With You

This includes reviewing your income and expenses to ensure that you are not spending more than you earn. Can you create new cash flow from your investments? How can you save money (for short, medium or long term goals)? Are you paying the least amount of interest possible given your situation? Can you reduce the amount of interest that you are paying? Can you pay off your debts earlier? Can you consolidate your debts? What debts should you pay off first? Should you pay down your mortgage or contribute to an RRSP?

This process is often part of Retirement or Comprehensive Financial Planning. As a stand-alone service the process is the same as for other planning processes.

Initial Meeting
  Scope of Engagement
  Estimate of Cost
  Data Gathering
    - Goals
    - Current Financial Situation
    - Problems & Opportunities

2nd Meeting
Financial Projections
Discussion of alternatives

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Comprehensive Financial Plan

Relevant articles

  1. What to Bring With You

All of the above services represent modules in preparing a Comprehensive Financial Plan that will address most if not all of the services outlined.

  • Retirement Planning
  • Tax Planning & Preparation
  • Investment Planning & Monitoring
  • Insurance & Estate Planning
  • Education Funding
  • Cash Flow & Debt Management

We will create your financial plan by finding out where you are now (what is your current financial position), where do you want to be in the future (what are your goals and objectives), and how are you going to get there (what recommended strategies will you use). Following the creation of the plan, we will help you implement the plan and periodically review and update the plan.

Following the standard process outlined below, we will produce a written report covering the selected services. This will take between 10 - 15 hours depending on the services and the complexity of the issues.

Initial Meeting
  Scope of Engagement
  Estimate of Cost
  Data Gathering
    - Goals
    - Current Financial Situation
    - Problems & Opportunities

2nd Meeting
Financial Projections
Recommendations and Alternative Solutions

3rd Meeting (if required)
Implementation Assistance

1 Year Meeting
Review

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Corporate

Relevant articles

  1. Sample Seminar

Corporate Services create benefits for the Employee and Employer.

  • A key component of a comprehensive employee benefit plan.
  • Meeting Employer Due Diligence obligations to employees

Seminars for Employees on Financial & Retirement Planning

  • Retirement Planning
  • Financial Planning
  • Interpreting Benefit & Pension Plans

Financial Counseling for Employees

  • Retirement/Termination
  • Survivor Counseling upon death
  • Executive Financial
  • General Financial

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