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 […]