Frequently Asked Questions
What are the main advantages of using a Planwell advisor?
- Advisors that hold the CFP® or CIM® designations attest annually that they will put their client’s interest ahead of their own which is important as for most financial advisors this is not a requirement.
- Planwell advisors will prepare a comprehensive financial plan for you
- Planwell advisors will establish measurable goals with you that can be worked towards through the Planwell Checkpoint system.
- Planwell advisors will measure your actual investment performance against your goal rate of return established in your comprehensive financial plan as well as against the agreed upon benchmark index returns so it is clear how well you are doing.
- Planwell advisors have access to use the Planwell Net Return Portfolios which offer superior long term returns with less volatility.
- Planwell advisors take a holistic view of assisting each client in the areas of Wealth Accumulation, Wealth Maximization, Wealth Protection and Wealth Transfer.
- See more about the Planwell difference here
What are the minimum requirements to use a Planwell advisor?
Planwell advisors are proud to have no minimum account sizes as we believe one of our jobs is to assist our clients with building their wealth which may mean they don’t have substantial wealth at the outset. We do however require our clients to have a desire to build their wealth if they are in the earlier stages of wealth accumulation.
Are there fees for the preparation of the comprehensive financial plans?
- Planwell advisors will invest considerable time upfront with clients that are committed to working with Planwell to have a comprehensive financial plan completed and to allow the Planwell advisor to assist with wealth management and insurance elements.
- No fees are charged explicitly for the consultations and preparation of the financial plan as this will be included as part of the Planwell servicing package. See the Planwell Fee Schedule for information on the fees for the wealth management services.
- Planwell realizes that other financial planning companies charge considerable amounts up front for the preparation of comprehensive financial plans and in some cases also charge ongoing wealth management fees. At Planwell we believe so strongly in the value of every client having a financial plan that we will invest considerable time up front to establish the best possible long-term program for our clients without burdening them with any large up front fees.
Why is it important to deal with someone that has at least a recognized financial planning designation?
- In the same way when you need professional medical or legal advice you are best to get this from a professional that is properly licensed in their respective field. Unfortunately, the regulation in Canada as to who can use the financial planner name is weak and many people use the title that do not actually have a financial planning designation.
- Obtaining for example the Certified Financial Planner (CFP®) designation is a multi-year educational program which requires extensive studies and examinations.
How long has Planwell Financial Services Inc. been in business?
Planwell was founded in June 2002 by David Booth and has been in consistent operation since that time. David Booth has been a financial advisor since 1993 and was a professional accountant prior to this.
What is the Planwell investment philosophy?
- At Planwell we find based on many years of experience that most of our clients would like to earn a good return that is more consistent. It is the declines in value that most clients would prefer to avoid. Therefore, our main goal is to create portfolios that generate above average returns with lower volatility, which allow our clients to not have to worry about their accounts.
- The Planwell Net Return Portfolios offer a pension style structure to the investments with the inclusion of core Canadian Equity, Global Equity and fixed income components along with alternative investments and real estate and infrastructure investments.
- The Planwell Net Return Portfolios are focused on the net return after fees as opposed to being focused on just low fees or the avoidance of higher fees. For Planwell we will use low fee solutions as long as the net return is good as low fees don’t always mean a higher return. Similarly, we may use active investments with higher fees if these higher fees have lead to superior net returns. However, all fees must be justified and lead to higher net returns for the portfolio while the components of the portfolio work together to create better downside protection and a smoother ride for our clients.
Will a Planwell advisor come to see me at my place?
Yes, we recognize that not everyone is able to make it to our office for meetings and we are open to meeting our clients and prospective clients in their home or office.
What areas do Planwell advisors serve at this time?
Currently Planwell advisors serve all areas in the Greater Vancouver area and Fraser Valley, extending basically from Vancouver to Chilliwack.
What hours are Planwell advisors available?
Office hours are from 9 a.m. to 5 p.m. However, evening and weekend appointments can be accommodated.
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