Our CERTIFIED FINANCIAL PLANNER® professionals will create a comprehensive, realistic financial plan for you and your family, and then work with you consistently in the years ahead to turn that plan into a reality.

PLANNING WELL
LEADS TO LIVING WELL

We have a well-defined system for tracking our client’s success as well as our unique Planwell Net Return Portfolios which are all about getting the best return possible for our client’s net of all fees.

“If you fail to plan, you are planning to fail.”

~ Benjamin Franklin

PLANNING WELL
LEADS TO LIVING WELL

Our Certified Financial Planners will create a comprehensive, realistic financial plan for you and your family, and then work with you consistently in the years ahead to turn that plan into a reality.

“If you fail to plan,
you are planning to fail.”

~ Benjamin Franklin

The Importance Of Financial Planning

Why wouldn’t you use a real financial planner?

According to the Financial Planning Standards Council 85% of Canadians have a better financial well being when having a comprehensive financial plan and 79% of Canadians report a better achievement of life objectives when having a comprehensive financial plan compared to just having a limited financial plan.

Unfortunately, two thirds of Canadians do not use a financial planner and about 30% of Canadians are not confident they will achieve their financial life goals.

“Doing what’s right for our customers” – Holders of the Certified Financial Planning (CFP®) designation and the Chartered Investment Manager (CIM®) designations attest each year to the code of ethics which for the CFP states that Principle 1 is the Duty of Loyalty to the Client – “The duty to act in the client’s interest by placing the client’s interest first.” The CIM® Code of Ethics states “Treat each client with respect, put the client’s interest ahead of your own, and not exploit a client for personal advantage.”

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Planwell Comprehensive Financial Plans

Planwell has a unique 12-part financial planning process. We believe strongly that a comprehensive financial plan is the cornerstone to how we can assist our clients best as they look to build their wealth, maximize it, protect it and then ultimately transfer it.

Equally important to having a great plan is regularly reviewing the plan to ensure the goals are being achieved. This is where the Planwell Checkpoint Program comes in to ensure the measurable goals are being monitored and progressed towards.

Check out each of the 12 areas of our comprehensive financial plans below.

Check out each of the 12 areas of our comprehensive financial plans here.

Planwell Seminars – We believe in Financial Education

For over 25 years the team at Planwell Financial has been educating groups and clients about the important things to know to build wealth, maximize its growth, protect it and then how best to transfer it.

We have seminars that are great for shorter lunch time gatherings for employees, associations, or friends that would like to learn more. We also have a three session Wealth Building series and other single topic seminars. In addition, David Booth is also a registered presenter for the CPA Canada who have 40 one-hour seminars that are available.

For more information on our seminars click to learn more or REGISTER TODAY!

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Planwell Net Return Portfolios

The majority of our clients over the last 25 years have told us they would prefer to have investments that generate good returns with less volatility. Also, any fees paid for management and other expenses have to be justified by the returns. Therefore, we have created the 8 Planwell Net Return Portfolios which provide the full range of required risk levels.

We call them the Net Return portfolios since we are most interested in the net return after fees. Simply choosing low cost investments is not the answer just as chasing high returns is not the answer.

The Planwell portfolios are designed following pension style asset allocation methods and incorporate core equity and fixed income holdings along with alternative investments, private equity, real estate and infrastructure investments.

The portfolios are designed to generate above average returns with less volatility over the long term. We follow a disciplined methodology for the selection of the underlying investments in each portfolio leveraging off the work done by the IA Securities Product Research and Oversight team.

The fees for each portfolio are very reasonable and are offered on both a fee-based option or an embedded fee option. For more information on the Planwell Net Return Portfolios please contact us or register for more information below.

Solutions | The Planwell Difference | Our Services | FAQ | Net Return Portfolios

Planning Well
LeadS To
Living Well.

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FINANCIAL INDEPENDENCE PLAN

Fundamental to a comprehensive financial plan is knowing what the target is or what is the amount of money needed for a person or couple to be financially independent. Sometimes we can equate retirement with financial independence, but it does not need to be the same thing. Some people do not plan to retire ever or until a much later age. Financial independence is a point where there is sufficient wealth accumulated to last for the projected life and also satisfy any transfers to heirs or philanthropic desires.
It is better to plan for a financial independence date rather than planning to never retire or to retire at a much later age. Life is unpredictable and even though the plan may be never to retire health and other issues can disrupt these plans and so it is better to have enough wealth accumulated at a reasonable age to then allow more flexibility around when retirement may occur.
Establishing an amount that is needed to be financially independent then allows us to determine how much needs to be saved on a regular basis to reach the financial independence goal.
Most important is to revisit this part of the plan every 6 months to a year to assess the progress towards the financial independence goal and make revisions if necessary.

BUDGETING / CASHFLOW PLAN

Having a budgeting and cashflow plan is important for those that would like to maximize their savings and the accumulation and maximization of their wealth.
For most people it does take discipline to save and build wealth and starting with a budget and then monitoring the income and expenses against the budget brings clarity to the monthly actual financial situation. This then allows for spending adjustments to be made to allow the savings to occur at the necessary level to reach the financial independence goal.
As David Chilton described in the Wealth Barber it may be simpler and more advantageous for many people to turn the budgeting process upside down and start the budget with allocating between 10% to 20% of the gross income for savings (RRSP, TFSA and open accounts) and then live on the balance. In this way the saving component is prioritized similar to how a mortgage payment is usually prioritized. Unfortunately, most people budget the other way which is to deduct the various expenses from the income and then see if there is anything left over to save which many times is very little to nothing. Saving off the top and living on the balance is a great way to approach budgeting.

DEBT PLAN

Having a plan to pay down consumer debt and unsecured lines of credit is also very important. In Canada we have an obsession with debt which has been fueled by low interest rates for the last decade. Many peoples monthly credit card, car loans, and other installment loans and unsecured lines of credit payments are large portions of their monthly take home pay. Until these debts are under control and eventually paid down it is very difficult for many people to save at the levels, they need to in order to hit a meaningful financial independence number.
Various strategies and methods can be used to assist in paying down debt in a more efficient and methodical way. Of course, having a plan to stop building up debt is crucial and having a plan to eventually be out of consumer debt is the goal.

MORTGAGE PLAN

Mortgages have proven very useful to many Canadians by allowing them to invest in personal use properties, rental properties, recreational properties and commercial properties. Significant wealth has been built up especially over the last 20 years in Canada by investing in real estate.
As with other debt there are strategies and methods that can be utilized to assist in paying down mortgage debt in a more efficient manner and these should be explored in this part of the financial plan.
As equity is built up many people have used this equity to allow them to purchase additional real estate. Therefore, it is advantageous from many perspectives to try to build up the equity in real estate as efficiently as possible.

INVESTMENT PLAN

The investment plan will look at what type of investments to use, the appropriate risk levels, the types of plans to use (RRSPs, RIFs, TFSAs, Open or Taxable accounts, etc)
Investments outside of real estate (see real estate plan) are an important part of a financial plan. Real estate is a more illiquid investment as it can be more difficult to sell in a shorter time frame. Other investments can provide more liquidity.
The investment plan should also provide a goal rate of return for the investments that can be measured against the actual performance and an agreed upon market benchmark return.

FEE PLAN

It should be clear in the financial plan what the fee levels will be for the work being provided by the financial planner as well as the products that are being used as part of the financial plan.
Ideally the financial planner will be able to demonstrate that by paying these fees the client is better off than having not paid these fees. The client should feel that the package of services being provided by the financial planner are well worth the fees being paid as evidenced through good rates of return, a sense of progress towards goals and a feeling of security in knowing that each area of the financial plan has been addressed and is being monitored.

PENSION PLAN

Pensions are a significant part of many Canadians financial plans and these pensions including private and government pensions need to be factored into the financial plan and their value maximized.
Plans around when to retire and what options to take in private pensions can be complex and need careful consideration and exploration. In some cases, it may also be advantageous to explore taking the commuted value of a private pension plan and transferring this to a locked-in RRSP or LIRA.
Similarly, with the Old Age Pension and Canada Pension options exist as to when to begin these pensions which should be assessed.

CHILDREN’S SAVINGS PLAN

Saving for children is very common for Canadians and different options exist. Most commonly used is the Registered Education Savings Plan but there are also informal trust accounts and open savings accounts.

Depending on the amount being saved strategic use of these plans should be made to maximize the grants and free money available from the government as well as other tax implications of saving for children.

REAL ESTATE PLAN

Real estate is one of the largest portions of wealth in Canada and is an important component of many Canadians wealth. Having a plan for the accumulation of real estate is important whether this is just a principal residence or multiple properties. Building the equity in real estate is important as it provides options for other opportunities. Rental revenue for many Canadians is an important source of income.

INSURANCE PLAN

Insurance is important in providing protection for families as well as protecting the wealth that is accumulated. Insurance can also be used to enhance the maximization of wealth especially due to insurance death benefits being paid out on a tax-free basis if structured properly.

A needs analysis should be part of a financial plan to determine what types of insurance are needed and whether existing plans are the most appropriate. This should encompass looking at the life insurance, disability insurance, critical illness and long-term care insurance needs.

TAX PLAN

Minimizing the amount of income tax paid should also be part of each financial plan. It is completely legal to try to avoid paying tax through various measures like RRSP deductions, interest deductions, using tax free savings accounts, etc. Tax evasion is illegal and could result in serious legal issues.
As income from various sources can be taxed at different levels it is important to structure investments and holdings in the most tax efficient way.

Long-term planning is also needed when assets are to be sold in the future that have large embedded capital gains. There may be ways to reduce or defer the income tax on these larger items with proper tax planning.

ESTATE PLAN

Ensuring things have been properly planned for our end of life can not only save large amounts of money but can also make the process so much less complex for those left behind.
Wills, trusts, beneficiary designations, power of attorneys, and representation agreements all need to be reviewed and utilized where appropriate to ensure the transfer at the end of life happens in the best way possible.
For those with philanthropic desires planning for how to contribute to charities directly or through a foundation should also be explored.

PLANNING WELL LEADS TO LIVING WELL

PLANNING WELL LEADS TO LIVING WELL

The Importance Of Financial Planning

Planwell Comprehensive Financial Plans

Check out each of the 12 areas of our comprehensive financial plans below.

Check out each of the 12 areas of our comprehensive financial plans here.

Planwell Seminars – We believe in Financial Education

Planwell Net Return Portfolios

Planning Well LeadS To Living Well.

Online Life Insurance Quotes:

Ask Us About:

...

FINANCIAL INDEPENDENCE PLAN

BUDGETING / CASHFLOW PLAN

DEBT PLAN

MORTGAGE PLAN

INVESTMENT PLAN

FEE PLAN

PENSION PLAN

CHILDREN’S SAVINGS PLAN

REAL ESTATE PLAN

INSURANCE PLAN

TAX PLAN

ESTATE PLAN

PLANNING WELL
LEADS TO LIVING WELL

PLANNING WELL
LEADS TO LIVING WELL

Planning Well
LeadS To
Living Well.