What does the designation “CFP™” mean?
-CFP™ is the internationally recognized designation for a Certified Financial Planner, awarded in Canada by the Financial Planners Standards Council (FPSC). CFP professionals must meet the FPSC’s standards in education, experience, examination and ethics. CFP professionals must also complete 30 hours of continuing education every year and agree to abide by the CFP Code of Ethics in order to annually renew their right to use the designation.
What aspect of Financial Planning do you specialize in?
-Financial Planning is a diverse field. Most Financial Planners are generalists, much like your family doctor. A Financial Planner is trained to study your entire financial picture, while being keenly aware of any areas that require specialist expertise. For instance, a lawyer would be called upon to draft a will or a buy-sell agreement. A Chartered Accountant would be called upon to prepare corporate financial statements or to facilitate an estate freeze. A mortgage broker can add value by negotiating the best renewal rates on your property financing. At IRONSHIELD Financial Planning, we pride ourselves on maintaining strong relationships with our professional referral partners.
As a client, how often can I expect to meet with you?
-Personal financial management, like physical fitness, is a continuous process. Decisions are made on the basis of the best information available at the time. Over time, your financial objectives will change, and markets and interest rates may not perform as expected. Regular reviews are important to fine-tune your personal finances – for example, to identify areas for improvement and address your concerns, if you have any. Since we believe these reviews are essential, you can expect to be contacted for at least two face-to-face review meetings each year.
Can I buy investment or insurance products from you without a financial plan?
-The short answer is, “no”. At IRONSHIELD Financial Planning we believe very strongly in the power of the plan. The very process of constructing a financial plan requires a thorough analysis of your current financial situation to gain an understanding of the financial results you desire. Without this analysis (or diagnosis, if you will), there is no way to determine which financial product (or prescription) is best suited to achieving your goals.
What is “The Corporate Class™”?
-The Corporate Class™ is an enhancement to any of the Programs of The KAIZEN Financial Planning Process™. It is designed to integrate both personal and business financial affairs for a client who is also a business owner.
Why are there different levels within The KAIZEN Financial Planning Process™?
-The three levels represent the unique needs of clients at various stages of wealth accumulation and preservation. Our entry level, The Building a Foundation Program™ is designed to construct a solid foundation for your financial future. The next level, The Securing the Future Program™ is for clients who are successfully accumulating wealth. Finally, The Preserving Wealth Program™ is for clients whose emphasis has shifted from accumulating wealth to preserving it – both for themselves and for future generations.
What is the difference between à la Carte Financial Plans™ and The KAIZEN Financial Planning Process™?
-We offer à la Carte Financial Plans™ for clients who feel that a partial financial plan is all that they need at their current stage of life. Each “part” is independent of all the others and is designed to accomplish specific financial goals. By contrast, The KAIZEN Financial Planning Process™ is an evolutionary approach to comprehensive Financial Planning. It’s designed to encompass all key areas of your financial life, simplifying the often-complex aspects of wealth accumulation and preservation over a lifetime.
Why do you charge fees when many other Financial Planners don’t?
-No one works for free! If an advisor is not charging fees, they must be earning their income exclusively from the sale of products. At IRONSHIELD Financial Planning, we feel that it is better to separate the giving of Financial Planning advice from the sale of products. The result is a financial plan that is based on your needs and goals, not the planner’s rewards. Using this approach, if and when achieving your goals requires buying a product, you can feel assured that the recommendation is tailored to the successful implementation of your plan rather than simply a need for the planner to be compensated.
I’m a little unsure about working with a Financial Planner. What kind of commitment will I be expected to make?
-At IRONSHIELD Financial Planning, we don’t expect a commitment to move forward with our Financial Planning services until you have thoroughly “kicked the tires.” Our website provides a comprehensive look at the process that we follow, so you can learn about our services from the comfort of your home or office. If you like what you see, we then offer two complimentary 1-hour meetings. Each is designed to find out about you and your financial life. We listen and gather information to determine if our services are right for you before we mutually decide whether to commit to a working relationship.
