My Financial Planner

Have you ever asked your financial planner how they plan for themselves? Has your planner actually mapped out their own path to wealth building? Do they actually have a plan in place – whether it is a one page plan or a 3 inch binder full of “comprehensive know-how” to get from where he/she is now to where he/she wants to be?

Have you asked your planner who her own financial planner or financial advisor is? Who else besides themselves advises them???

It’s no secret that if you walk into my accountants’ office and ask them where they invest their money or more precisely how they invest their money and where should you invest your money, they will say, “Marie handles our investments, we are well diversified according to our ability and willingness to take on risk and our capacity and ability to handle loss, if you are looking for investment advice talk to Marie or go to your financial advisor if you have one.”

If you ask them about insurance, estate planning or retirement planning, again, while they are very knowledgeable in most areas being the expert accountants that they are, they will still refer you to a well-rounded accredited financial planner/appropriate advisor, as every client situation is unique and therefore advice to each client is distinctive and particular to their current circumstances.

But have you ever asked the financial planner, your financial planner, who advises him/her and who is on their financial team?

For me, my team may be slightly smaller or limited as I am a licensed Certified Financial Planner (CFP), insurance agent for Life and health benefits and of course registered/licensed to sell certain investment products. However, you may be surprised to learn that my team is made up of my accountants, lawyers and sometimes an extra head in the insurance industry. Other recent additions are my real estate agent and lending specialist for property opportunity.

My most important financial coaches are my accountants, as one of them is also a licensed CFP herself and therefore speaks my language when it comes to long term wealth building (does not make tax the sole focus of planning to the detriment of other financial/life goals).

I get to bounce wealth planning ideas, tips, and strategies with my particular accountants to see how it fits in the overall long-term wealth plan, while being mindful of any tax implications. They plainly tell me if I am “out to lunch or not”. I actually consider one of them to be my very own private economist, and I love going to her office to ask her how the economic winds are blowing today, this month and what is the national forecast.

Of course, I receive more than I bargain for on the tax side. Nonetheless, I consider that to be a bonus! As it is more knowledge I can bring to the round table when discussing real wealth management strategies with clients. (Basically looking at the whole picture for the client, from investment, to insurance to estate planning, to retirement to how they earn and spend their hard earned income and how all this is impacted by tax, inflation, and fees).

Having a comprehensive and collaborative advisory team helps me get to my real wealth planning “finish line” sooner. Not only does my team look at my tax situation with careful lenses both for the corporation and personally, but they take a long term approach to my life goals and help me prioritize my own objectives.

Sometimes I too require additional financial advice, and a second opinion (not to tell me I am richer than I think) but to actually tell me something I don’t know, and how I can do something better so I can reach my own goals in the timeframe I desire.

If working with one team member, such as me, has helped you in your quest to achieve your financial goals and/or achieve financial freedom and peace of mind, imagine what a team that works comprehensively and collaboratively for you and your family can do!

All individuals and their families deserve that unique professional team of comprehensive and collaborative advisors. If you have not yet established that collaborative advisory team, please feel free to contact me and I can help you put a team together that will suit your needs.