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Q So how does this work?
A Take at look at my brochure over there to your right
Contact us for a no fee appointment to see if we can help. I supply testimonials and a list of references you can contact. Lots of videos and blogs to read so you can get a feel for my outlook on life.
If we decide to work together we quote you a guaranteed fixed fee and provide an engagement agreement so you know exactly what to expect
We supply check lists of information to gather and questions to discuss with your life partner
First appointment is fact finding and goal setting …start with the end in mind!
Second (third fourth …. ) Education and options as much detail as you do or don’t want.
Subsequent appointments tax and fee efficient ways to implement changes
Ongoing support , 6 month check ups and annual reviews.
Kathy waite Registered Retirement Consultant Regina Saskatchewan
Q Do you sell products?
A No as a fee only financial planner , fee for service , to remain unbiased we do not sell products or receive introducer fees from any one. You may take what you learn and use any investment firm or manage your own accounts. I would suggest a flat fee investment advisor and can provide a list . Most are under 1% of assets or a flat amount per family a month .
So do you know what you pay now? Chances are a lot more than you think!
Most funds have an annual management fee MER . They range from 1.8% to 3.2% On average 2.6% is taken from your account each year. With $250k you are paying $6500 a year, $800k $20,800 regardless of whether you make a positive or negative return that year, how many appointments or much help you asked for. Contact us to calculate this for you.
Whether you have $100,000 or $1 million I can find you portfolio management from $200 a month for the whole family for a basic portfolio. Thats a lot more in your pocket than $2600 to $20,000 skimmed off a year . Usually I find old style advisors cost people 10 years of their retirement income .
A Take at look at my brochure over there to your right
Contact us for a no fee appointment to see if we can help. I supply testimonials and a list of references you can contact. Lots of videos and blogs to read so you can get a feel for my outlook on life.
If we decide to work together we quote you a guaranteed fixed fee and provide an engagement agreement so you know exactly what to expect
We supply check lists of information to gather and questions to discuss with your life partner
First appointment is fact finding and goal setting …start with the end in mind!
Second (third fourth …. ) Education and options as much detail as you do or don’t want.
Subsequent appointments tax and fee efficient ways to implement changes
Ongoing support , 6 month check ups and annual reviews.
Kathy waite Registered Retirement Consultant Regina Saskatchewan
Q Do you sell products?
A No as a fee only financial planner , fee for service , to remain unbiased we do not sell products or receive introducer fees from any one. You may take what you learn and use any investment firm or manage your own accounts. I would suggest a flat fee investment advisor and can provide a list . Most are under 1% of assets or a flat amount per family a month .
So do you know what you pay now? Chances are a lot more than you think!
Most funds have an annual management fee MER . They range from 1.8% to 3.2% On average 2.6% is taken from your account each year. With $250k you are paying $6500 a year, $800k $20,800 regardless of whether you make a positive or negative return that year, how many appointments or much help you asked for. Contact us to calculate this for you.
Whether you have $100,000 or $1 million I can find you portfolio management from $200 a month for the whole family for a basic portfolio. Thats a lot more in your pocket than $2600 to $20,000 skimmed off a year . Usually I find old style advisors cost people 10 years of their retirement income .
Q What is a financial plan?
A You don't know what you don't know so one way to fix this is to work with a planner who can point out the gaps and opportunities you are missing . A real financial plan is not a way to prove you need a product someone is trying to sell, its about making the most of what you have and acting consciously . Focusing on what, where, with whom and when you want to do something and how to make that happen in the most effective way.
Often what you have just needs tweaking not replacing.We include an analysis of your risk aversion and family history to minimise insurance premium costs along with tax and investment fee minimisation.
Plans first product last! What you want should drive your money road map .
Q Why should I pay for a financial plan when the bank/ investment company will do this for free?
A Firstly , Our goal is to find enough savings, including negotiated discounts on external investment counsellors, taxes saved and more efficient products investigated that this service more than pays for itself. Often you get two or more specialist to look after you for less annual cost than now.
Secondly there is no such thing as free. Companies have to make money to pay staff and a profit for share holders. It might not be payment upfront but it’s not free. Fees are embedded in investments , loans and products you buy. Instead of receiving an honest opinion on your situation you may find the plan always has to end in a product, to pay for the time spent generating the plan. Miraculously that institutions product just so happens to be the answer as well.
Because the fees are not disclosed they are often higher than you think . Funds are 1.8% to 3.2% a year but you could use products that are one tenth of that and more accurately capture market returns with less risk.
Q Why an annual subscription?
A We found charging per hour led to clients not asking questions to save time. By providing a years support the fees you pay are limited but the help is unlimited. If we find more issues than expected when we "pop the hood" no worries.
Life also happens and you may wish to prioritise certain issues and pick up again after summer or harvest. Our job is to keep it on the radar and get results over time. We charge more in year one and less for ongoing maintenance.
Money back guarantee. What we do is unusual and its hard for you to imagine how it will work until we get going. We want you to be happy.......thrilled with our work together! 70% of new clients are referrals from existing clients and a reputation for getting results matters. If you find this isn't working for you we will try to match you with someone in our professional network , if you wish , that can help and refund the unused portion of your annual subscription. We won't be weird or make you feel awkward. Because our process is an evolution of what clients want and need over 25 years this isn't likely to happen though.
Q What’s the different ways advisors are paid?
A Basically the following applies , see our videos tab, Google and you tube it as well
-Commissioned: paid for what they sell like a TV or car salesman. Investments cost average 2.6% a year and likely pay an upfront commission of 5% and 1% a year ongoing. Maybe exit fees. Insurance is often the equivalent of a years premiums and then one months premium per year . Usually sell own brand funds which tend to under perform so you can be leaving another 2% on the table as well.
- Fee Based: charge a % of your portfolio depending on size. Usually only for accounts $250k plus at 2% declining to 1% at one million . Issues may arise if you are charged on funds held in cash investments or when you need to take money out of your portfolio. You need to pay down debt or renovate your cottage ? Advisor may be against this because it would reduce the income they receive as your portfolio shrinks
- Fee for service: There is some confusion in the industry as to what fee-for-service means. In the strictest sense it means you pay a flat dollar amount for a service but the reality is advisors are calling themselves fee for service if they have the ability to provide fee based accounts.
- Fee only: paid a flat dollar amount for financial planning, insurance , investment advice. With fee only there is no correlation to size of assets or products. Removes the product pushing conflict of interest and the withdrawal conflict of interest. Your fee only professional works exclusively for you and your best interests..
A You don't know what you don't know so one way to fix this is to work with a planner who can point out the gaps and opportunities you are missing . A real financial plan is not a way to prove you need a product someone is trying to sell, its about making the most of what you have and acting consciously . Focusing on what, where, with whom and when you want to do something and how to make that happen in the most effective way.
Often what you have just needs tweaking not replacing.We include an analysis of your risk aversion and family history to minimise insurance premium costs along with tax and investment fee minimisation.
Plans first product last! What you want should drive your money road map .
Q Why should I pay for a financial plan when the bank/ investment company will do this for free?
A Firstly , Our goal is to find enough savings, including negotiated discounts on external investment counsellors, taxes saved and more efficient products investigated that this service more than pays for itself. Often you get two or more specialist to look after you for less annual cost than now.
Secondly there is no such thing as free. Companies have to make money to pay staff and a profit for share holders. It might not be payment upfront but it’s not free. Fees are embedded in investments , loans and products you buy. Instead of receiving an honest opinion on your situation you may find the plan always has to end in a product, to pay for the time spent generating the plan. Miraculously that institutions product just so happens to be the answer as well.
Because the fees are not disclosed they are often higher than you think . Funds are 1.8% to 3.2% a year but you could use products that are one tenth of that and more accurately capture market returns with less risk.
Q Why an annual subscription?
A We found charging per hour led to clients not asking questions to save time. By providing a years support the fees you pay are limited but the help is unlimited. If we find more issues than expected when we "pop the hood" no worries.
Life also happens and you may wish to prioritise certain issues and pick up again after summer or harvest. Our job is to keep it on the radar and get results over time. We charge more in year one and less for ongoing maintenance.
Money back guarantee. What we do is unusual and its hard for you to imagine how it will work until we get going. We want you to be happy.......thrilled with our work together! 70% of new clients are referrals from existing clients and a reputation for getting results matters. If you find this isn't working for you we will try to match you with someone in our professional network , if you wish , that can help and refund the unused portion of your annual subscription. We won't be weird or make you feel awkward. Because our process is an evolution of what clients want and need over 25 years this isn't likely to happen though.
Q What’s the different ways advisors are paid?
A Basically the following applies , see our videos tab, Google and you tube it as well
-Commissioned: paid for what they sell like a TV or car salesman. Investments cost average 2.6% a year and likely pay an upfront commission of 5% and 1% a year ongoing. Maybe exit fees. Insurance is often the equivalent of a years premiums and then one months premium per year . Usually sell own brand funds which tend to under perform so you can be leaving another 2% on the table as well.
- Fee Based: charge a % of your portfolio depending on size. Usually only for accounts $250k plus at 2% declining to 1% at one million . Issues may arise if you are charged on funds held in cash investments or when you need to take money out of your portfolio. You need to pay down debt or renovate your cottage ? Advisor may be against this because it would reduce the income they receive as your portfolio shrinks
- Fee for service: There is some confusion in the industry as to what fee-for-service means. In the strictest sense it means you pay a flat dollar amount for a service but the reality is advisors are calling themselves fee for service if they have the ability to provide fee based accounts.
- Fee only: paid a flat dollar amount for financial planning, insurance , investment advice. With fee only there is no correlation to size of assets or products. Removes the product pushing conflict of interest and the withdrawal conflict of interest. Your fee only professional works exclusively for you and your best interests..
