Unlike many advisors at Canada's big banks or large investment firms, I won't sell you any products and I don't receive any commissions. I only get paid what you pay me and I serve only you. I'll provide you with budget and spending management, advice for getting out of debt, investment knowledge, long term financial planning all towards achieving your key goals. Plus, I'll help answer big questions like: When can I retire? How (much) can I help out my kids? Should I pay down my mortgage or invest? What should I do with my employer pension or group RRSP plan? Should I use RRSPs or TFSAs and, if so, in what order?
I am a Professional Engineer (P. Eng.) and I am working on my my planning designation, but I am neither licensed to sell investments nor recommend specific ones. However, I can review what you are doing today and provide meaningful feedback on risk, investment allocations, and on any fees you are paying for those investments (which are often hidden). I can also educate and explain a rational approach to investing based on evidence of what really works - ways to invest that can be both simple and low cost.
This is a true passion for me and I'm all about sharing my passion for finances with you and offering you the best possible advice at a very low price. I want you to learn, be self sufficient, and take action to control and grow your finances and achieve your goals.
Selecting a Financial Advisor That’s Right for You
While it is common for people to find an advisor through a referral from friends or relatives, you may run into issues where that advisor uses a fee model you are not happy with. Maybe they work at an institution that offers only their products, or maybe there is a mismatch in personality or philosophy to your own.
So, I do recommend research and due diligence when selecting an advisor. One way is to ask a prospective advisor some questions like the ones below. I've provided my answer to each in advance so you can get to know me better and decide if I might be the right advisor for you.
What is your fee structure – how do you get paid?
For my part, I am a fee for service advisor. I won’t sell you any products nor do I get
paid commissions to refer you to others.
I simply offer great financial advice to help you meet your goals at an
affordable price. Things like planning
and saving for retirement, debt, budget, and spend management, answering tough
questions like get paying down a mortgage, what to do with my pension, or when
can I retire?
For a complete financial plan, I am offering an initial special offer of just
$495 for individuals or couples. As a comparative, here is a link to a Globe and Mail article that discusses typical fee amounts for a detailed financial plan.
OK, so let’s say that I have bought into the fee for
service philosophy, and further understand that advisors may not sell products
either. So, what, where, and who would I
invest with?
This is a great question and the same one I had when I first
sought independent advice to validate my own financial plan and investments. A key goal for me is to educate and explain a rational approach to investing based on evidence of what really works and show you how to manage
your own investments. I can show you how to open a discount brokerage
account and make trades so you can “do-it-yourself” (as I do). If you have not done this before, it's much, much easier than you may think. I can also discuss the pros and cons of using a "robo-advisor" or maybe even to working with a dedicated portfolio manager.
I am a big believer in the power of simple when it comes to
investing and I can even guide you through
that implementation.
If there is a conflict of interest, how can I expect you
to manage this?
As I do not sell any products nor do I get paid
commissions to refer you to others, there is inherently little or no conflict
of interest. Contrast this with the average
advisor working at a big Canadian bank.
Most of them receive commissions or have quotas to sell you their bank’s mutual funds
and they seldom give advice on things you can control like paying down debt and
lowering fees.
What services can I count on you to deliver?
I specialize in building detailed financial plans for
Canadians including retirement planning, debt and spend management, critical
decision help, and investment and portfolio reviews. Though I don’t sell any products myself, I
will cover a broad spectrum of topics such as finances and investment, pensions,
government plans and programs such as RRSP, TFSA, RESP, CPP, OAS, and GIS,
insurance, mortgage and finance, and much more.
One note, however. I do not generally offer planning services for complex situations such as business incorporations or high net worth individuals that want to use family trusts.
What are your qualifications and experience?
I am a Professional Engineer (P. Eng.) and I am working on further financial planning certifications which I plan to attain in the next 2-3 years. I have already completed the Certified Financial Planner (CFP) core curriculum. I have already helped many clients with their finances and retirement plans. You can read more about this in the Testimonials section of my site. I can also provide detailed case studies to further illustrate the type of advice I provide. Contact Me to get a copy of these studies.
How do you describe your ideal client?
My ideal client is the average Canadian that wants their money to work for them in the best possible way. They want to really trust the advice they are given as they may be worried about advice they get from big banks, specialized investment firms, or investment tips from friends. They would prefer real help from a qualified resource that can answer their questions without trying to sell them something.
What is your investment philosophy, and how do you justify it?
Ok, this is a great one. I believe very strongly in rational and evidence based investing. This usually means using low cost index exchange traded funds (ETFs) like those found at the Canadian Couch Potato site. For most of us, this can be the best way to get great market returns at very low cost and with very little time commitment. This is how I invest myself.
What this also means is that together we can focus on your more important financial and goal setting items and less on investment decisions.
Will you question my decisions if you think they are contrary to my best interest?
Yes, I will. Of course I will respect your final decision on any matter, but I will present the facts and a rational analysis for you to consider so that you can make the best possible decisions.