Many people will offer you advice on which investments to buy. But there’s more to your financial life than your RRSP. Estate taxes, income taxes and education funds for your children are just some of the other complex aspects of your total financial picture.

Complete Financial Needs Analysis Process

Step 1

Clarify your present situation by collecting and assessing all relevant financial data – assets and liabilities, tax returns, records of securities transactions, insurance policies, wills and pension plans.

Step 2

Help you to identify financial and personal goals and objectives, and also to clarify your financial and personal values and attitudes.

Step 3

Help you to identify financial problems that can create barriers to your financial independence.

Step 4

Provide you with written recommendations and alternative solutions. These should be structured to meet your needs without undue emphasis on purchasing specific investment products.

Step 5

Assist you to implement the right strategy to ensure that you reach your goals and objectives.

Step 6

Provide a review and revision of your strategy to ensure that you achieve your goals.

How do you know if you need a Financial Advisor?

People hire Financial Advisors for many reasons. These questions may help you decide if you need professional financial advice.

  • Do you have the time to attend to your personal financial affairs?
  • Are you confused about conflicting financial advice from several sources?
  • Do you feel you are paying too much tax?
  • Are you confused about where to invest your money?
  • Do you feel that you can't make ends meet?
  • Do you feel that you can't save any money?
  • Has there been a recent change in your life that could affect your financial future, such as retirement, job loss, an inheritance, an addition to your family, or loss of your spouse?

Personal financial advising focuses on you as an individual – bringing together all the financial and psychological factors that have an impact on your life.

A well thought-out financial strategy will help you reach your personal financial goals and objectives, and give you a greater sense of security. 

Many people call themselves a “financial planner”, but a true Financial Advisor uses the Complete Financial Needs Analysis Process, which is made up of six distinct steps.