The Process of Hiring a Financial Planner

What is the process once you Hire a Financial Advisor?

Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP®

I was speaking to someone on the phone a couple of weeks ago, and the question they asked was “what is the process after we hire a financial advisor?”. This is a very important question to have answered, and the response from the book is as follows.

What is the process once you hire a Financial Advisor?

“Normally the ongoing process they would follow would be to

  1. find out what your family’s dreams, hopes, goals, and desires are
  2. benchmark your current financial reality;
  3. 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;
  4. execute your specific strategy in the following five key areas

      a. retirement and cash-flow strategies,

      b. investment management,

      c. tax planning,

      d. insurance and risk management, and

      e. estate planning;

5.  use a detailed checklist-driven, step-by-step process to ensure nothing is missed in the execution of your plan; and

6. 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.”

To Read How do Financial Planners Get Paid Please Click HERE

For more information you can refer to Chapter 4 Tax Concerns, RRSPs, and TFSAs: Protecting and Preserving your Wealth from the book Preserving Wealth: The Next Generation – The definitive guide to protecting, investing and transferring wealth by Jack Lumsden, MBA, CFP®


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 investing6. 

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