The Planning Process
Whether you are just starting out or are a seasoned pro, we will work with you to develop the sound financial plans and custom-designed insurance solutions you need to help you reach your current and future financial goals. The plan we develop together will be the road map you need to help you get to where you want to go.
How Does the Planning Process Work?
Financial planning is a complex and interactive process where life and corporate goals and needs are defined, information is collected and analyzed, and strategies are designed and executed. At Edmond Financial Group, our five-step planning process involves gathering your relevant financial information using our registered Prosperity Planning Program (PPP) and developing your plan using our state-of-the-art financial planning software. We will help you set objectives, examine your current financial situation, project into your future and develop a strategy to reach your financial goals.
Our Five-Step Planning Process
- Discuss general considerations — we discuss your priorities, note any issues or problems, and identify the assumptions to be used in the process. We may also assess your risk tolerance through the use of our Risk Tolerance Questionnaire and other tools.
- Gather all the appropriate information — we review your current financial position including cash flow and net worth, tax situation, retirement position, estate situation, investment profile, current insurance policies and any special situations.
- Draft financial plan — the plan will address cash management, risk management, estate planning considerations, capital needs, retirement needs, tax minimization and investment strategies as well as any corporate needs
- Finalize financial plan — we review the draft plan with you to ensure that you agree with the recommendations
- Initiate Plan of Action and schedule periodic review — by meeting periodically we will be able to assess how the plan is working, discuss any changes to your situation and make any necessary adjustments to your plan. Information to bring to review meetings includes:
- Most recent tax return and assessment form
- Most recent statements of registered and non-registered holding
- Pay stub (deductions, pension plan or RRSP contributions)
- Most recent bank account statement
- Insurance policies
- Check list of items to discuss