What We Do
Comprehensive Financial Planning
Financial planning goes beyond just your investments. My holistic approach means gathering and examining the pieces to see how all your money fits together, then building a personalized roadmap to secure your financial future. I’m on the lookout to identify potential problems and opportunities so I can offer advice and strategize your next moves.
Together, we’ll explore lots of “what-if” versions of your dream life, then determine how best to get you there. As your life situation changes, our plan is amendable. Flexibility is built into our strategy, along with annual review meetings, check-in calls when you like, and unlimited support to answer your financial questions.
You’ll walk away from our meetings with personalized financial solutions and clear guidance on how to step into your financial future. We’ll cover:
Cash Flow Management
Understanding cash flow is one of the toughest “simple” financial tasks that people struggle with commanding — especially if they’re self-employed or their income varies. We’ll keep track of your budget and expenses, then organize the appropriate flow of money to boost wealth and avoid debt. I’ll build you an emergency fund so any surprise expenses don’t throw you off track and plunge you into debt.
Retirement Planning
The perfect retirement looks different for everyone. Want to sip lemonade on a sandy beach or spend time at home with your grandkids? Planning for your retirement is one of the most involved and complex areas of finance. A lot of big questions — When do you want to retire? How much income will you need in retirement? What pensions and investments can you use for your retirement? How much tax will you pay? — need to be answered.
No matter what stage of life you’re in, I’ll guide you towards financial independence so you can retire with confidence and in comfort.
Risk Management
We can’t predict the future, but we can prepare for the unknown with a flexible financial plan that includes illness, disability or premature death. I’ll ensure you and your family are secure and comfortable, regardless of unforeseen events.
PERSONAL INSURANCE SOLUTIONS
- Life insurance
- Critical illness insurance
- Disability insurance
- Extended Health & Dental
In a private corporation, insurance is used for two general purposes: managing risk and creating opportunities. The risk management is satisfied as insurance provides the corporation with a tax-free payment in the event of the death or illness of an owner or someone vital to the success of the business. As life insurance also allows for the tax-sheltered build-up of cash value additional planning opportunities are created.
CORPORATE INSURANCE SOLUTIONS
- Key-person life insurance
- Key-person disability insurance
- Corporate shared critical illness insurance
- Group Health Plans
Investment Planning
Investment planning is a process that begins when you’re clear on your financial goals. Whether you’re looking to grow your money, generate income in retirement or preserve your wealth for future generations, our financial planning process is designed to help you get clear on how to match your financial resources to your financial objectives.
Tax Planning
Better tax planning leads to substantial savings in the long run. My recommendations include how to tighten the tax-efficiency within your existing accounts, and find the most tax-efficient savings vehicles for your personal situation. We’re seeking a plan that minimizes taxes, maximizes cash flow and the ability to contribute to retirement plans.
Estate Planning
No one plans to be incapacitated or die prematurely, but in the event of any surprises, your will and power of attorney are indispensable. As part of your plan, we’ll look at options to protect your assets and, more importantly, those dearest to you should you become incapacitated or predecease your loved ones. Having a plan makes tough times much easier to navigate for those left behind, especially when emotions are running high. We’ll assess whether or not your assets will flow tax effectively to the beneficiaries of your estate and provide guidance and resources to make sure your wishes are properly documented and implemented.
My Process
Introductory Visit
Let’s get to know each other. I’ll learn what you’ve done, where you want to go and what’s important for you in an advisor. If there’s a mutual fit, I’ll explain how I can benefit your situation and review the information gathering process so we can identify items you’ll need to bring to our next visit.
Discovery Session
We’ll dig into your current financial situation to gain a deeper understanding of your assets & liabilities, income & expenses. We’ll clarify and prioritize short-term & long-term goals, determine investment objectives, and your tolerance for risk. This should give us all the pieces from which we’ll build your plan.
Analysis
From a bird’s eye view, I’ll analyze each area of your finances, look for any gaps or challenges in your current plan, and identify different opportunities to reach your financial goals. Typical problem areas may include too little or too much insurance coverage or a high tax burden. Cash flow may need tweaking, you may be taking on too much or too little risk in your investments or your current plan might not be preparing you for retirement. By taking into account your current financial situation, your priorities and your values, my goal is to determine the best financial strategy for you.
Plan Presentation
We’ll review the plan together and address all your questions before we kick into gear. I’ll never be making decisions for you; I’ll provide recommendations and include context and analysis so you can make informed decisions. Collaboratively, we’ll decide which ideas to implement, then we’ll develop a plan of attack.
Implementation
Once we agree on a course of action. It’s a combined effort as some parts of the plan are my responsibility, while others are yours. Don’t worry, I’ll be orchestrating implementation and am always available for questions along the way.
Monitor & Review
The first 5 steps require frequent meetings, since we will be working together on creating and implementing your plan. Once all the pieces are in place, we shall meet annually, or as often as you feel necessary. I’ll be monitoring your progress and making sure we’re staying on track to our goals. Plus, it’s a good excuse for a friendly coffee or stroll along the seawall.
Mutual funds and segregated funds provided by the fund companies are offered through Worldsource Financial Management Inc., sponsoring mutual fund dealer. All other products and related services are offered through Karalyn Day.