Perspectives...

Perspectives...

While we certainly appreciate clients who take an active interest in their personal finances, often their perspective is clouded by a 30 minute business news show, or worse, "water-cooler advice"...

 

 

· Only about 6% of Canadian Investors meet the criteria required to be successful at being their own financial advisor (1.1)

· “The positive effect of advice on wealth accumulation cannot be explained by asset performance alone; the greater savings discipline acquired through advice plays an important role.” (1.2)

 

(1.1)https://www.ific.ca/

Paying for Advice: Why Options are Important

Montmarquette et al, CIRANO (July 2012)

(1.2)https://www.ific.ca/

New Evidence on the Value of Financial Advice by Jon Cockerline, Ph.D.

 

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Advocate...

Advocate...

Surprisingly, we often find new clients in investments that don't match the conversation, or ones that force them into paying taxes unnecessarily. We really feel the tax side is a major factor in proper financial planning and is frequently overlooked...

 

· “Financial Advisors add value in a number of ways: by recommending asset mixes that are right for the needs of their clients; by advising on vehicles for optimization and tax efficiency; and by encouraging savings through programs and planning targets.” (1.2)

 

(1.2)https://www.ific.ca/

New Evidence on the Value of Financial Advice by Jon Cockerline, Ph.D.

 

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Better Together...

Better Together...

Some of our best client relationships are ones where we not only have an annual income tax meeting, but also an RRSP meeting and a fall review. We can't help but feel that the more often we meet, the better the outcomes...

 

· “Average net worth for advised investors is nearly three to four times greater than that of non-advised investors.” (1.2)

o Advised Household vs. Non-Advised Household (1.2)

  • 4-6 years with advisor = 1.58x more assets
  • 7-14 years with advisor = 1.99x more assets
  • 15+ years with advisor = 2.73x more assets

 

(1.2)https://www.ific.ca/

New Evidence on the Value of Financial Advice by Jon Cockerline, Ph.D.

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Discipline...

Discipline...

Our process helps our clients develop the discipline required to achieve their financial goals, whether through proper tax planning, investment selection, or recognition of estate planning issues...

 

· “Almost 9/10 mutual fund investors invest with an advisor and they benefit significantly from the disciplined savings behavior that they acquire through these relationships.” (1.3.1)

· “Advice allows investors a better chance of: accumulating greater wealth through better savings behavior; building towards a more comfortable retirement; selecting tax-efficient investment vehicles; maintaining a long-term investment strategy; protecting against poor financial decisions; and avoiding emotional investing habits.” (1.4)

 

(1.3.1)https://www.ific.ca/

Paying for Advice: Why Options are Important -  Montmarquette, Claude and N. Viennot-Briot, “Econometric Models on the Value of Advice of a Financial Advisor”, CIRANO (July 2012).

(1.4)https://www.ific.ca/

The Value of Advice Report 2012

 

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