In order to maximize the precision and outcome of a 3D Plan, we ensure that all facets of your life that affect or are affected by financial strategies are taken into consideration. A basic 3D Plan will evaluate and provide recommendations on cash management, goal funding, asset allocation, tax planning, insurance, retirement planning, estate planning and legal implications on a per need basis.
Personal & Family Situation
Your marital status and residency have a major impact on your financial plan. The analysis and recommendations we give will be affected by whether you are married or in a civil union, widowed, divorced or living common law. They will also consider, whether you’re a dual citizen, Canadian or US resident.
Cash Management & Net Worth
Often the single most important aspect of any financial plan, budgeting and cash flow management is much more than simply placing restraints on your spending habits. No matter your income, you should follow a cash flow plan. It is a process that involves managing income versus spending. More importantly, an effective plan keeps you on track to achieve the lifestyle you desire from the money you have. It focuses on reinforcing positive behaviors to achieve small victories that keep you motivated along the way. Our objective is to optimize your net worth in the most efficient manner.
Asset Allocation
Reviewing your investment portfolio and its strategic asset allocation will help ensure that your investment strategy is aligned with your financial goals. A strategic asset allocation determines the optimal distribution between stocks, bonds, cash and equivalents, as well as alternative investments for your investment portfolio given your objectives and risk tolerance. It is the most important decision that you make as an investor, accounting for over 93% of your portfolio’s variation in returns over the long run.
Tax Planning
Though we are not CPA’s, we are highly knowledgeable on the tax consequences of introducing different financial strategies to your plan. Your income tax returns contain a slew of information that can help you structure your financial environment. We work with a range of experts to maximize your tax savings and we make sure to understand all the advantages and disadvantages to the various strategies available to you.
Risk Management / Insurance Planning
How you manage the risk in the unfortunate event that you become disabled or medically unable to perform your current obligations or pass away early in life are also part of financial planning. According to Canadian Survey, 22% of the population have at least one disability. Young families need to understand the risks and various options to prevent financial disaster from happening. Protection refers mainly to needs and coverage for illness, loss of property, personal and professional liability.
Retirement Planning & Goals Funding
Retirement planning is probably the best-known aspect of financial planning; but not all savings are based on your retirement. Every individual has a different conception of the future with a different time horizon. You might be looking at buying real estate, financing the education of your children or venturing out into a new business. Each of these goals require different strategies and different optimization tools.
Estate & Legacy Planning
Your legal documents should be reviewed regularly to ensure they still reflect your wishes. A well-thought-out estate plan ensures that your family is cared for should something happen to you, and that your money goes where you want it to. Maybe you plan to leave a Legacy Gift which is one of the most common and thoughtful ways to help others and leave a lasting impact on your community. There are many kinds of Legacy Gifts such as simple bequests in a Will or Estate Plan, a gift of life insurance, annuities, charitable trusts, endowments and gifts of property. A financial plan will help you arrange and prepare for these deferred gifts in the most tax efficient manner.
