Questions to Ask When Interviewing a Financial Planner

Questions to Ask When Interviewing a Financial Planner

Excerpts from the Book - Preserving Wealth - written by Jack Lumsden, MBA, CFP® Deciding on which financial planner to hire is a particularly important decision for families to make. The following are key questions that FP Canada has designed to help in the selection process. How to Interview a Financial Planner Financial planners can help you plan for retirement, find the best way to finance a new home, save for your child's education or simply help put your finances in order. Whatever your needs, working with a professional financial planner is a crucial step in helping you meet short-term and long- term goals that will help ensure your financial well-being. Finding the right planner is extremely important because your choice will almost certainly affect the security of your financial future. The following questions will help you interview and evaluate financial planners to find a competent, qualified professional with whom you feel comfortable and whose business style suits your needs. Don't be afraid to ask these...
Read More
What are the top 26 Estate Planning tips to consider?

What are the top 26 Estate Planning tips to consider?

Estate planning helps ensure a stress-free transition of your assets to the next generation or intended beneficiaries. Excerpts from the Book - Preserving Wealth - written by Jack Lumsden, MBA, CFP® The following are the top 26 estate planning tips from Preserving Wealth: The Next Generation. Have up-to-date wills. Have up-to-date powers of attorney for both property and personal care. Review your powers of attorney and will every few years. Review your executor(s) every few years. Determine if trusts may be of benefit to your family. Consider a staged inheritance if you have young children. Review your life insurance beneficiary designations on all your policies. Review your beneficiary designations on all registered plans, such as group savings plans, RRSPs, TFSA and RRIFs, etc. For RESPs, make them joint with your spouse, and name a successor subscriber in your will. Consolidate your investments with one financial advisor. Make sure you have enough life insurance to: protect your family, and if desired, create a family legacy, fund your favourite charity, and/or pay for estate costs. Use term insurance...
Read More