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How much does it cost?

Meeting with one of our advisors will cost you nothing – it’s free! Our advisors are paid by mutual fund companies, based on the sales and holdings. As there’s no cost to you, we urge you to come in and meet with us so that we can answer any questions that you have.

How often should I meet with a financial planner?

We like to see our clients at least once a year. We see some more and some less, however that is entirely up to the individual. To make an appointment please call 905-875-3366 we will be glad to schedule an appointment for you.

How do I make an appointment?

To make an appointment please call 905-875-3366 we will be glad to schedule an appointment for you.

Do you prepare income tax returns?

While we do not offer income tax preparation, we are happy to refer you to one of the many accountants in our network.

What’s a Spousal RRSP?

A Spousal RRSP is an RRSP that your spouse or common-law partner owns, but you contribute to. Why would you own one? To save on taxes.

If your spouse or common-law partner has a lower income than you do, and thus a lower marginal tax rate, a Spousal RRSP can reduce your current and future taxes. First, you can claim a tax deduction for the contribution you make - just like a contribution to an RRSP in your own name- so you save on current taxes. Second, when your spouse or common-law partner takes money out of the Spousal RRSP, they report the income and pay the taxes. If their income were lower than yours, the taxes they pay would likely be lower than the taxes you would pay.

In a Spousal RRSP if the owner withdrawals funds before the three years have elapsed the contributor will be the one who is hit with the taxes.

Also the maximum contribution to a spousal RRSP is the investor's own contribution room.

The important point here is that the spousal plan does not increase the individual's contribution limit, but rather the maximum contribution is shared between individual and spousal plans.

Why should I contribute to an RRSP / RESP etc?

There are two reasons to own an RRSP. First, the contributions you make are tax-deductible. When you contribute to your RRSP within your contribution limit, you may deduct this amount on your tax return. This reduces your taxable income and, potentially, the taxes you pay. For example, a $100 contribution to an RRSP may only cost you about $60. You contribute $100, and, if your marginal tax rate is 40%, you have tax savings of $40!

Second, any investment income you earn inside your RRSP isn't taxed. Tax-sheltered growth is an important benefit of an RRSP. The money inside your plan grows tax-sheltered. If you earn one dollar and pay 40 cents in tax, you only have 60 cents left over to earn more investment income. If you earn one dollar in an RRSP, and don't pay any tax right away, you can earn investment income on that entire dollar. That's pretty simple, but the basic idea behind tax free growth.

What’s an estate plan?

Estate Planning is all about people, from individuals to large families. Basic needs in planning estates range from:

• Saving taxes
• Building cornerstones
• Choosing trustees
• Assigning beneficiaries
• Protection and conservation

An estate plan is about your life – in the present and in the future. Most importantly, estate planning is about the life of your family and loved ones, and the peace of mind that you get from helping to preserve their financial security. Please take the time to assess your current estate plan using these six questions, presented in a recent article in the Dow Jones Investment Advisor:

1) What will happen to your family if you die tomorrow? A year from now? 10 years from now?

2) How can you build a retirement income that you and your spouse cannot outlive?

3) If you plan to leave principal to the people you love, how will you do that with minimum taxation?

4) How will you educate your children? Your grandchildren?

5) Who will provide for the last five years of your life? Your parents’ lives?

6) Would you leave meaningful legacies to the institutions that have intervened in your family’s life? What are some highly efficient ways to do this?

Our advisors are ready to help you find the answers to these difficult questions. Please book an appointment to discuss them.

 

Do I need life insurance?

Whether or not you need life insurance, and how much of it you do need depends completely on you age and lifestyle. Please visit our insurance links for helpful questionnaires and calculators, and feel free to come into our office to talk to one of our advisors.

Is investing risky?

While investing always involves risk, our advisors work with you to determine your risk tolerance, and build your investment portfolios accordingly.

What do all those letters mean?

CFP – Certified Financial Planners are accredited by the Financial Planning Standards Council of Canada. Helena and Tim each earned their designation by passing rigid examinations showing a depth of knowledge in financial markets, taxation, law, investments, and investment strategies.

CLU – A Chartered Life Underwriter since 1991, Helena is a financial planner with advanced knowledge in life and health insurance and employee benefits.

CH.F.C. – This accreditation which Helena received in 1994 is given by the Canadian Association of Investment and Financial Advisors to those who demonstrate acumen in wealth accumulation and retirement planning.

CH.F.S. – In 2004, Tim earned his Certified Hedge Fund Specialist designation from the Strategy Institute after completing comprehensive studies and examinations on portfolio optimization and risk management.