The Excellent Advisor© 2004-2011 All Rights Reserved

Disclaimer: The information contained herein is for Ontario residents only and does not constitute an offer to sell or solicit sales in any other Canadian or foreign jurisdictions

 

Also, the information and products mentioned on our web pages are intended for educational purposes only and are not to be considered as a solicitation to purchase any investments. Commission, trailing commission, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. All mutual funds are provided through Queensbury Strategies Inc. and all insurance products are provided through Bridgeforce- LMF Group.

Tax and Estate Planning

 

Jamie Golombek’s tips on tax & estate

planning.

                            

Congratulations, you are considering financial planning. That is the first step to taking control of your financial life.

 

We all know the old saying "If you don’t know where you’re going, you’ll probably wind up somewhere else". In a nutshell, that is what financial planning is all about.

 

Financial planning is a dynamic ongoing process that takes into account the “whole you”. Your financial life – your income, assets, liabilities, etc. And your personal life – your values, dreams, wants, needs, time horizons, etc. And perhaps most important, your financial plan must reflect your attitude towards risk and reward.

General Advice vs. Personal Advice

Timely

     Trusted Advice...

Maybe you would prefer to simply talk to some one for some quick and general information. While this can be somewhat helpful, consider which would be more beneficial out of the following:

GENERAL ADVICE

 
Is information on financial products designed to help people make decisions about money without taking personal circumstances into account. This advice is often provided free of charge by your friendly neighborhood bank branch staff, mortgage brokers when considering home loan options, or accountants when filing your tax return. The advice is focused on your present need and is general in nature rather than a reflection of your whole circumstance.

PERSONAL ADVICE

 
Carefully consider a number of factors, such as a person's objectives, financial situation and needs which allow the planner to recommend strategies and, if required, personally relevant financial products. The planner takes the time to collect information from the client, so they can then provide advice that is applicable and helpful both in the short and long-term.

A Certified Financial Planner is a person that is committed to internationally recognized professional standards of competence, ethics and practice as set and enforced in Canada by the Financial Planning Standards Council.

 

CFP professionals are also held to ongoing rigorous standards through the FPSC's continuing education requirements and enforcement process. 'Certified Financial Planner' (CFP) is the highest professional designation in financial planning and it is recognized worldwide.

 

However, since financial planning is not regulated in most provinces in Canada, any one can call themselves a 'Financial Planner'; but not everyone who refer to themselves as a planner is indeed qualified. In the absence of government regulations, Canadian seeking competent and ethical financial planning services should look for the CFP mark.