Q1. I understand the name of your firm is "Personal Financial
Solutions?" Is there a story behind that?
There sure is! We know that stress is an inevitable part of life.
We also know that financial stress specifically accounts for a major
part of the negative stress for most people feel. My objective is
to help people find solutions to their financial concerns so they
can achieve their goals and enjoy the peace of mind knowing all
is in order. That's why I named my company, Personal Financial Solutions.
Q2. What are some of the services and benefits you provide your
First and most importantly, I take a sincere personal interest
in the overall financial success of my clients. I'm totally committed
to helping them achieve their objectives. This genuine interest
in their financial well-being dictates that I always put a client's
interests first. Secondly, because of my professional background
and experience, I provide a comprehensive service that is well structured
and compatible with all aspects of the client's overall financial
planning. In other words, I listen to find out what is truly important
to my clients. I understand that we each have our own unique feelings
about security and growth and I respect those views. Working from
their financial plan, I help clients take action towards their financial
goals. Thirdly, I have a conveniently located office with free parking.
Clients can discuss their financial affairs in comfort and with
assurance of confidentiality. They can see my computerized setup
and meet my excellent Administrative Assistants.
Q3. I noticed on your business card two designations CFP and
RFP. Could you take a moment and explain the significance of these
Well, the CFP or Certified Financial Planner is an education designation
which is awarded to those who successfully complete a broad program
of study specifically in financial planning such as money management,
financial economics, taxation and estate preservation. The RFP or
Registered Financial Planner is a professional designation and is
the hallmark of the financial planning profession in Canada. This
designation is awarded to practising professionals who have passed
a comprehensive written exam and who maintain suitable Professional
Liability Insurance. Registered Financial Planners must reapply
to have the right to hold the RFP designation each year and must
adhere to exacting requirements for continuing education. The reason
I became a Certified Financial Planner and Registered Financial
Planner was to bring real value to our client relationship. Anyone
can call themselves a financial planner but not everyone can be
consistently up to date on tax changes, investment changes and overall
financial changes. This is where I can really help people.
Q4. What is the advantage in working with a boutique firm like Personal Financial Solutions?
There is a very definite advantage working with our firm. When you enter one of the banks, trust companies or investment brokerage houses, you are highly encouraged to buy their own products and sometimes that's not in your best interest.
When you work with us, we seek out the most suitable products which match your needs and comfort level. Should you decide to implement your financial plan through us then I am compensated from the companies with which we place your funds and, planning fees can be reimbursed. I represent over fifty financial institutions which allows me to provide you with unbiased advice.
Q5. What kind of updates and ongoing communication can a client expect from you?
I consider an annual review
meeting extremely important. I believe a clientís financial plan should
be consistently monitored. And, I maintain a checklist of the major
financial planning issues. Because a financial plan is constantly
I spend the time with the client to discuss financial concerns and,
if warranted we take action.
We also provide an Investment Portfolio Summary where clients can see their entire Portfolio, usually on one page.
I also monitor client's investments and keep them up to date on financial
affairs by providing a regular newsletter.
In addition to these contacts, individuals
investors receive semi-annual statements of their investments directly
from the companies.
I always encourage clients to phone
me and discuss their statements, reports or financial concerns.
Q6. I need to focus on retirement
planning--how can you help me?
is an important topic because, it affects everyone. Building adequate
retirement income can be an uphill battle. And, itís a battle many Canadians
are losing. Consider this fact: according to Statistics Canada, a full
43% of Canadians over 65 must now rely on government pensions to see them
through retirement years. Itís a real shame.
You see, these days, when change
is the only constant, we need a system to properly plan for retirement.
I have clients provide me with their financial summary, I then calculate
how much income their current investments, future savings, and pensions
will provide by a projected retirement date. I take into account taxes,
inflation and the clientís expected rate of return which I have
compared with their personal investment comfort level. We can then have
a clear idea of a realistic lifestyle and retirement timeframe. In this
way, I provide my clients with information and help them make informed
decisions to implement their financial plan.
Q7. Say I have a savings
account or an inheritance of twenty five thousand, fifty thousand or even
a hundred thousand dollars, how should I start?
A. The key is to just start!
There is so much money just sitting in bank accounts and earning low interest.
Without current knowledge sometimes people are frozen by fear of making
the wrong decisions. Thatís why I encourage you to phone my office for
an initial meeting. This allows you to learn more about me, my firm, and
the excellent service we provide our clients.
To sum it up, this no obligation
approach gives each of us the opportunity to decide if we want to work
with each other. I believe in laying a good foundation of common understanding.
With this common understanding I am able to help people find solutions
to their financial concerns so they can achieve their goals.
I look forward to meeting with you
to discuss your financial goals.