FINANCIAL SERVICES

STEP 1 – PLANNING

Whether as an individual, family or business, we work with our client’s to help them set up or update a Financial / Retirement Plan and choose the appropriate mix of investments to suit their style and circumstance. Our services include Retirement Planning, Money Management and Estate Planning.

There are three main phases of Planning:

Accumulation (working years)

Conservation (appropriate mix of investments)

Distribution (income during retirement years)

Some frequently asked questions and concerns when considering a Financial / Retirement Plan:

Am I saving enough to meet my Home, car, children’s education expenses?
Am I saving enough to meet unforeseen expenses?
Am I saving enough to live comfortably during my retirement years?
Am I doing the right things to avoid debt accumulation?
Do I fully understand the integration of my savings in my employers pension plan, my personal registered and non registered savings and government plans?
Am I utilizing my RRSP contributions to help reduce my taxable income?
Am I saving enough non registered money (after tax dollars)?
Am I taking advantage of the Tax Free Savings Account (TFSA) to save tax on my investment income?
Do I have the proper insurance protection for my House, Car, Health and Dental bills?
Is my family and I properly insured for medical and other costs in the event of an emergency illness or accident when outside of Canada?

STEP 2 - Understanding the different kinds of money

Money can be in the form of Registered savings, Non Registered savings and the Tax Free Savings Account (TFSA).

REGISTERED MONEY

Registered Retirement savings plan (RRSP) – Money saved during the Accumulation years, which can be to the end of the year you turn age 71. RRSP contributions can be used to reduce your taxable income every year.
Registered Retirement Income Fund (RRIF) – By the end of the year you turn age 71, you have to roll your RRSP savings into a RRIF or a registered Annuity or a combination of the two.
Employer sponsored Pension Plans – These can be in the form of a Group RRSP, Deferred Profit Sharing Plan (DPSP), and other formal registered pension plans.

NON-REGISTERED MONEY

This refers to money, which is invested with “after tax dollars”. In this case the principal that you invest is not considered taxable, as you have already paid the tax on this money as it was earned. However, the “growth” that this money earns is deemed to be taxable.

TAX FREE SAVINGS ACCOUNT (TFSA)

Unlike a RRSP, contributions to a TFSA are not tax deductible, however, income generated in a TFSA is tax free.

STEP 3 – INVESTMENTS

We offer a variety of investment choices for the different kinds of money noted above:

Investment Funds – As brokers, we deal with only Canada’s leading companies. There is a vast selection of funds that offer Canadian or Global investments, that can be further broken down with a choice of different Asset Classes, including Fixed Income, Dividend and a variety of Equity Funds to choose from.

Guaranteed Investments – Money is invested with Canada’s leading Banks and Trust Companies. The deposits are insured through the Canada Deposit Insurance Corporation (CDIC). As Deposit brokers and members of the Registered Deposit Brokers Association (RDBA), we can secure the best interest rates in a variety of Guaranteed Investment Certificates and Daily Interest Accounts offering enhanced interest rates.