“For your financial health” Do you need an Apple a Day for your finances?
Quality clients are usually referred to us because they need a risk management solution (ex. life insurance after buying a house, disability insurance after starting a professional career) or an investment account (ex. an RESP for their children). When putting these solutions in place, the advisor is compensated by a commission and there is no payment made by the client. As part of the process to discover needs, a review of the financial situation is conducted.
More and more, there have been requests to provide detailed analysis or recommendations on things outside of these areas. Examples are being whether to purchase a rental home, buy back a pension after maternity leave, or how to optimize cash flow. This requires time and attention outside of the general review for insurance solutions or investment accounts.
Rather than turn down requests for budgeting and goal attainment help, we now offer a “For your financial health” budgeting process that allows us to do the cash-flow analysis and problem-solving.