The Value of Good Advice by Deboski Co.

By John McKay, Executive Vice-President and Actuary, PPI

Change is inevitable, and it can significantly impact your family and your financial well-being. Whether it’s the natural progression of starting a family, buying a home, looking to retire, or an unexpected illness or job loss, when change happens the value of the financial advice you’ve been given in the past – and the advice you receive at that particular moment – becomes abundantly clear.

Good advice from a financial professional can have a profound positive impact on your own, and your family’s, financial future. When you meet with your advisor, you are likely looking for answers or solutions to your financial questions and needs. And there are many trusted advisors who have the knowledge, competence, and desire to keep your best interests in mind so that you and your loved ones can maintain your sense of financial well-being.

When looking for an advisor, it’s OK to ask them questions to help you get comfortable in working with them—in fact, it’s encouraged. The more confident you are that you are working with an expert you trust, the easier it is to have those difficult conversations and make decisions. Don’t be afraid to ask your advisor these questions:

How will you assess my financial security needs?

A good advisor will ask you questions about your life, goals, expectations, income, current assets and liabilities, and your time horizon for retiring. This process helps them properly assess your needs and work with you to develop a sound financial plan. If they don’t ask you a lot of questions, then they may make assumptions that could result in an estate and/or retirement plan that won’t take you to where you want to be..

How do you protect my privacy?

The information an advisor collects from you is personal and possibly sensitive. A good advisor will be aware of their privacy obligations to you and will have processes in place in their office to ensure the protection of your personal information. Feel free to ask about those processes.

How does your business operate and how do you get paid?

Advisors should provide you with a document which outlines which provinces they can conduct business in, which companies the advisor represents, how they are paid, and whether there could be any conflicts of interests in dealing with them.

When you work with an advisor you trust, it’s more likely you will build a financial plan that provides you with peace of mind and confidence about your future. Speak to your advisor often. A good advisor will listen well to help you build a strategy that’s designed to adapt with you as your life progresses.

 

 

Deboski&Co.

Blog

What is the most important tool in your Succession Planning Toolkit?

December 6

Okay, this might be an over exaggeration that life insurance is the most important tool. But we occasionally come across situations where it is overlooked as a planning tool altogether and we don’t want you to inadvertently make that mistake. There are a number of reasons we feel strongly that life insurance should be thoughtfully […]

Why small businesses are making it their business to investigate life insurance

December 6

You are a sole proprietor or a single shareholder in your company. While from a physical standpoint you may consider your business to be small, when it comes to success your results may be exponentially greater. There are over 1,100,000 small businesses in Canada – clearly this sector is booming The benefit of being small […]

The Value of Good Advice

December 6

By John McKay, Executive Vice-President and Actuary, PPI Change is inevitable, and it can significantly impact your family and your financial well-being. Whether it’s the natural progression of starting a family, buying a home, looking to retire, or an unexpected illness or job loss, when change happens the value of the financial advice you’ve been […]

Join the community


Contact

We will respond within 2 business days.

#2504, 10235 – 101 Street
Edmonton, AB T5J 3G1
780-640-5066
780-640-5067

1111 10th Street SW
Suite 101
Calgary, AB T2R 1E3
403-560-6297