Are Your Needs Being Met?
With the right financial plan in place, you should have clarity around the questions which follow.
Wealth management is more than investment returns. It combines the moving parts of your financial life for maximum benefit – a bigger picture approach that considers your personal mix of investments, taxes, estate, insurance, and legacy.
Do you have a solid financial plan in place?
Growing Your Wealth
Creating and maintaining a sound financial plan involves a detailed review of your entire financial picture and proactive recognition of your evolving needs.
At Nicola Wealth, we believe the ability to build wealth is a result of diligent implementation of this comprehensive plan in combination with identifying wealth building efficiencies and opportunities.
- Have you had a comprehensive financial plan prepared or updated within the past five years?
- Do you know your current asset allocation and your risk tolerance?
- Do you know the rate of return you’re earning on assets after fees?
- Do you know how much capital you will require to meet your retirement goals?
- Have you reviewed the tax efficiency of your compensation structure?
- Are you income-splitting as effectively as you can to reduce taxes?
- Have you calculated the additional tax credits with an IPP vs an RRSP?
- Are you spending too much time and money on the preparation of investment tax returns?
Larry Warshawski Dermatalogic Surgeon (Retired)
Nicola Wealth Management has been great about setting a plan based around our goals and income needs. We know what to expect, we know what the cash flow is going to be, and that our investments are well managed as well as tax efficient. It gives us a tremendous peace of mind…the numbers have been exactly what we anticipated and that has allowed us to retire early.
Do you have access to investment opportunities others do not?
Protecting Your Wealth
It is important that your wealth not only continues to grow, but is protected against market volatility. Our proven cash flow investing philosophy and broad asset allocation deliver results that provide stability and elevate the overall financial plan.
Nicola Wealth works with you and your other advisors to provide more sophisticated retirement planning. A Nicola Wealth Advisor’s thorough knowledge of your current situation and your expectations will allow them to offer you the ideal planning opportunities to safeguard your growing portfolio.
- Are your investments generating enough income and cash flow?
- Is your investment portfolio protected from volatility through non-correlated investments such as real estate or private equity?
- Is your insurance positioned as an asset class and integrated with your investment strategy?
- Have you reviewed loans and mortgages to reduce interest costs and determine whether any may be tax deductible?
- Is your income protected in case injury affects you during your earning years?
- Have you considered the potential costs of future health care?
- Is your plan being regularly reviewed and adjusted to ensure you’re on track?
Sandra Wilson Founder of Robeez Footwear
One of the big differences with dealing with Nicola Wealth Management is the diversification of assets and the focus on cash flow, as well as the assistance with planning the whole financial picture.
Is your advisor anticipating updates to your plan?
Creating Your Legacy
Creating a financial plan is your first priority; however, ensuring that plan works beyond your lifetime is just as significant. You have worked hard to build your wealth and you will want to implement estate planning to ensure that your surviving loved ones are provided for and your wishes are followed in the most efficient way possible.
For many of our clients, creating a legacy and giving back to those who need help is a key planning priority. Donating to your favourite charities is important and we offer our clients a more effective way to give.
Charitable giving through the Nicola Wealth Private Giving Foundation (PGF) not only allows you to give tax efficiently using cash flowing investments, but also to give in perpetuity.
- Do you have a succession plan in place?
- Are your beneficiaries prepared to manage this wealth?
- How will you minimize the financial impact of your passing?
- Are you set up to eliminate tax liability upon death?
- Have you considered how you will create your legacy?
- Have you decided how philanthropic initiatives will continue?
- Currently, are you able to make your charitable gifts in kind?
- Are you planning to continue donating in retirement?
Dylan Modder, President of Argus TechnologiesLTD. (Retired)
I bring my children to all of the seminars to get them involved so as time goes on, and money passes on, they will continue to work with Nicola. It really all comes down to our comfort level and the trust factor.