The Background

A couple is wondering how to prepare for their new lifestyle and financial situation. Both partners have earned high salaries until, recently, the husband has decided to take on a temporary lapse in income to pursue a new business venture.

 

The Issue

The couple is concerned about being able to understand the investment vehicles and various options to help generate returns that are in line with their goals. They are interested in setting up RRSPs and TFSAs to save for long-term priorities, while creating an investment plan that dynamically shifts as their lives change over time.

 

The Solution

TIER 1
Needs, Wants and Aspirations

Through a collaborative process, we work with the couple to prioritize their goals, by needs, wants and aspirations. This allows for a well-rounded portfolio that matches their time frame to meet their goals, liquidity constraints and tax efficiencies, while aligning them with suitable investments.

---

TIER 2
Risk Analysis

Our risk analysis assesses the couple’s ability (financially) and willingness (emotionally) to take on risk. We also help them visualize how their short-term needs, mid-term wants, and long- term aspirations will balance within their portfolio over time.

---

TIER 3
Family Wealth Continuity

Conversations are held with both partners and our professional team to bring their estate plans (wills and trusts), banking (joint accounts, mortgages, credit) and legal documentation (power of attorney) in order. We also discuss the costs associated with post-secondary education and explore automatic saving options to start funding RESPs for future children.

---

TIER 4
Strong Decision-Making

The couple is presented with a clear portfolio and wealth plan. Incorporated are the parameters for investment decisions, strategies for more efficient cash flow and tactics for keeping needs, wants, and aspirations balanced throughout their lives and careers. We also educate them on how we will adapt their portfolio based on internal changes (promotions, layoffs, inheritances), as well as external changes (interest rates, GDP growth, value of the dollar).

---

TIER 5
Protection from Losses

A number of solutions are identified to help them with reducing tax liability, protection from unforeseen health care costs, inflation, and protection of their lifestyle should either partner incur injuries that prevent them from earning income. This helps provide reassurance in terms of where they are today, how we will help them get to where they want to be, and how to get back on track should any unforeseen events occur.