When Financial Advisors possess the skills to effectively present a financial plan, they can successfully engage clients in the financial planning process and cultivate long-term relationships. This is an important part of the process but something many Advisors tell us they struggle with — because presenting a financial plan goes far beyond simply presenting the […]
By stress testing financial plans, Financial Advisors can help retirees identify potential risks, make informed decisions, and optimize their financial strategies to achieve their objectives and maintain financial security in retirement. Here are 6 of the top reasons it benefits clients to have their projections stress tested. 1. Purchasing power is gradually eroded by inflation. […]
Let’s begin by discussing the underlying reasons for financial planning. Although we recognize its benefits for clients, it’s important to consider the genuine value of implementing a financial planning process for you and your practice. It’s widely understood that investment and insurance products constitute the implementation aspect of financial planning. However, without a solid plan, […]
As Canadian retirees approach age 72 and have investments in a Registered Retirement Income Fund (RRIF), they are required to withdraw a minimum amount each year. However, some retirees may consider withdrawing more than the minimum and starting earlier in order to maximize their future funds for routine living expenses or their estates. While […]
As a Financial Advisor, you likely already know how beneficial financial planning is for the client. Financial planning helps to create the foundation for a strong client-advisor relationship. It builds trust. That trust makes it easier to deliver financial advice and provide behavioural coaching so that you can help your clients keep their emotions in […]
Corporate-owned life insurance can be used as a tool not only to build wealth, but as an effective way to tax-efficiently transfer that wealth to beneficiaries. Corporately-owned life insurance policies can provide numerous benefits to business owners, aside from the obvious financial benefit in the event that an insured person passes away. Tax […]
Do you have clients who don’t see the value in planning? When your clients don’t think they need a financial plan and you’re having a hard time articulating the value, what can you do to help them understand? Learn what strategies 4 top Advisors are using with great success to easily demonstrate the value of […]
It’s never been easier to provide tremendous value to your corporate financial planning clients. Snap now enables the modelling of corporate Whole Life and Universal Life policies within its Corporate module, including the impact on the organization’s CDA balance and the flow of death benefits to the personal side. The new corporate-owned life […]
We recently surveyed Snap users to get a better understanding of how financial planning software has benefited and grown the financial advisory practice. The responses were meaningful and impactful – so much so that we wanted to put together essentially a guide for all Canadian Financial Advisors who seek to grow their practices through effective financial planning.
We know that right now inflation, interest rates, talk of bear markets, and declining portfolio values are top of mind for nearly all Canadians — in particular, those who are either approaching retirement or are already there. Our users have been telling us that they need more tools to facilitate these conversations in order to […]