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The Financial Planners Standards Council defines financial planning as:
"The process of creating strategies, considering all aspects of a client's financial situation, to manage one's financial affairs to meet life goals."
Advocis, the Financial Advisors Association of Canada, identifies six steps in the implementation of a complete financial plan. Whereas there are many thousands of financial advisors from many different institutions, very few actually are practicing financial planners who use the six step process to:
spend a couple of hours with you gathering data, setting goals and identifying obstacles
prepare a comprehensive, customized and written financial plan
take the time to help you understand the components of the plan so you feel comfortable with it
help you implement the plan
provide periodic reviews of the plan to help you understand its progression over the years.
This process is one which we hold dear and wish to apply to every client situation. Look at the financial planning check-up if you have not already done so. Hundreds of prospective clients have come through our doors. Not one has scored 12 before we helped them build a plan.
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