Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP®
I ride my bike during the winter when the temperature is above freezing, and the roads are dry. This past weekend I went for a ride on Saturday, and I felt slow and sluggish, realizing my tires were soft.
Prior to my ride on Sunday, I decided to pump my tires…and guess what… when I started to ride, it was 100 % easier and faster.
While riding with additional ease and speed, it reminded me that having a regular strategy meeting with our clients helps to keep them and us on track, as we can fine-tune items and make adjustments to their strategy on an ongoing basis. It will make your journey that much easier.
The following is an excerpt from Preserving Wealth: The Next Generation:
“So once we hire a financial advisor, what is the process?” asked Sally
Uncle Wayne took a sip of his coffee and continued. “Normally the ongoing process they would follow would be to
- find out what your family’s dreams, hopes, goals, and desires are;
- benchmark your current financial reality;
- co-create the required strategies and plan that will enable you and your family to achieve your dreams, hopes, and desires in the time frame you have selected;
- execute your specific strategy in the following five key areas:
- retirement and cash-flow strategies,
- investment management,
- tax planning,
- insurance and risk management, and
- estate planning;
- use a detailed checklist-driven, step-by-step process to ensure nothing is missed in the execution of your plan; and
- provide an on-going annual review of all aspects of your strategy and plan to make sure they remain aligned with what your family wishes to accomplish over time.”
For more information, you can refer to Preserving Wealth: The Next Generation – The definitive guide to protecting, investing and transferring wealth by Jack Lumsden, MBA, CFP®
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Jack Lumsden, MBA CFP® Financial Advisor, Assante Financial Management Ltd.
This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see me for individual financial advice based on your personal circumstances. The information provided is for illustrative purposes only. Commissions, trailing commissions, management fees and expenses, may all be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Please read the Fund Facts and consult your Assante Advisor before investing.