Get Started: Evaluate Working With Us
- Michael Isbister CFP
- Oct 3, 2023
- 5 min read
Hello everyone and welcome to the Retiring Canada Podcast. In today’s episode, we're going to discuss our 4-step process to help potential clients evaluate working with us. We call it our Complimentary One-Page Financial Plan process.
Specifically, we are going to cover:
- Being proactive vs. letting life happen to you
- Uncovering and recognizing our blind spots
- Our step-by-step complimentary one-page financial plan process
- Our five principal commitments to all our clients
- Why trust is earned, not given
- One crucial action item to follow through with
Today, I’m going to walk you through our 4-step process to help potential clients evaluate our services and decide if they would like to create a long-term relationship with our firm, Fundamental Wealth of Harbourfront Wealth Management.
First off, we understand that deciding to call an advisor for help isn’t something that happens overnight. Maybe it’s stressful, maybe you feel embarrassed that you should know more, or maybe you feel like you would be “cheating” on your existing advisor by exploring other options. These are all normal emotions when thinking about your finances.
Often, people keep putting it off until a major life event forces their hand, such as the loss of a loved one, a career change, health concerns, or approaching retirement. But why wait until things get so bad that you are forced to act? Wouldn't it make more sense to be proactive?
Many people adopt an “If it ain’t broke, don’t fix it” mentality when it comes to their personal finances. But what if you don’t know it’s broken? What if there’s something that needs correcting, but you’re unaware of the problem?
We all have blind spots. Think of your car—it starts and runs, but you still need to check the oil, brakes, timing belt, and spark plugs to ensure it’s in pristine running order. Similarly, with your finances, you need to regularly check up on your investments and spending.
Unlike a car, your finances won’t have a check engine light. You need to ask yourself:
- Does your portfolio need to be rebalanced?
- Do you have the right mix of alternative investments?
- Is your retirement income sustainable for the long term?
- Are you paying too much tax?
Ignoring these blind spots can lead to long-term financial issues. At the end of the day, you don’t want the wheels to fall off your retirement plan.
Now, it’s time for you to get your complimentary one-page financial plan to ensure you’re on the right track.
Step 1: Schedule a 45-minute phone call. We want to hear about your goals, ambitions, family, concerns, and what prompted you to reach out to us. This allows you to ask as many questions as you like and gives both of us the opportunity to get to know each other. The focus here is on you, not on us or our firm. You can read about us on our website.
Once we’ve addressed your concerns, we’ll start asking some financial questions to begin building your retirement roadmap. We’ll ask general questions about your investment accounts, RRSPs, TFSAs, RRIFs, pensions, homes, loans, mortgages, insurance, vacation properties, businesses, farmland, inheritances, and more. We’re just getting a sense of your financial landscape at this stage.
Step 2: Using the information gathered, we will build your one-page financial plan. Our team will compile the data, apply our knowledge and expertise, and customize a one-page financial plan just for you. Think of it as the executive summary of your family's finances. This plan will help you get organized and simplify what you need to do to grow your net worth and build a sustainable retirement plan. We will address your key concerns from our first call to ensure you get the answers you need. Written in plain English, your one-page plan will be presented during our next meeting.
Step 3: Our second 45-minute meeting, either in-person or virtually depending on your location. During this time, we will walk through your plan to identify opportunities, urgent action items, or any issues. We will provide a visual representation of everything you and your family have accumulated and your financial evolution over time. The objective is to give you a clear understanding of how we can help you optimize your finances, grow your net worth, and preserve your nest egg.
With the presentation of your complimentary one-page plan complete, we will discuss the next steps to begin a relationship with our team and outline our five principal commitments to our clients:
1. To be your Personal CFO: Our mission is to become your chief financial officer. If it involves money, big or small, we are here for you.
2. To align your finances: We will work with your other professionals to balance your best interests with your desired outcomes.
3. To provide independent, unbiased advice**: We will always put your family's interests first.
4. To educate and empower you**: We want you to make informed financial decisions.
5. To simplify: We will explain things in plain English and provide actionable advice, following up to ensure our plans are implemented.
Step 4: The beginning of your wealth management journey with us. We seek long-term relationships, not quick transactions. If you decide to partner with our team at Fundamental Wealth, we’ll send you our service agreement expectations. Once set up, our team will work with you to gather important details to create your financial foundation and schedule your first meeting with your new professional financial advisor.
And there you have it—our 4-step Complimentary One-Page Financial Plan process for prospective clients like you to evaluate working with our firm before entrusting us with your life savings. We understand trust is earned, not given, which is why we’ve designed this process to provide an honest, low-risk way to give you massive value and help you evaluate a long-term relationship with our team.
For the romantics out there, think of this as our 4-step financial courtship before a long-term commitment. We think your parents would approve.
Action Item: Get organized, simplify, and preserve your wealth. Please visit www.fundamentalwealth.ca.
- Want a second opinion to ensure you don’t have any blind spots?
- Want to make a plan before a major life event forces you to?
- Or maybe you just know it’s time to meet with a certified financial planner to get the most out of your money?
Whatever your reason, get in touch today and schedule your complimentary one-page financial plan.
Alright, that’s all for this episode. Thank you so much for joining me today!
For the links and resources discussed, please check out the link in the show notes or visit retiringcanada.ca. If you enjoyed the show, please subscribe and leave us a review on your favorite podcast app. Be sure to sign up for my weekly Retiring Canada newsletter.
And remember, when it comes to your retirement, don’t take chances.
Make a plan so YOU can retire with confidence.
All comments are of a general nature and should not be relied upon as individual advice. The views and opinions expressed in this commentary may not necessarily reflect those of Harbourfront Wealth Management. While every attempt is made to ensure accuracy, facts and figures are not guaranteed, the content is not intended to be a substitute for professional investing or tax advice. Please seek advice from your accountant regarding anything raised in the content of the podcast regarding your Individual tax situation. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.