Expert Financial Planning: A Plan for Life

Your financial planning needs change as your life evolves. Your plan must grow to help you reach your goals at every stage of your journey.

Our comprehensive approach to financial planning includes:

Net Worth Statement - a snapshot of where you are today

Cash Flow/Budget Analysis - an analysis of your income and expenses

Investment Analysis and Accumulation - a review of how your assets are invested, and advice on how to best position them to create the highest likelihood of achieving your goals, given your risk tolerance and time horizon

Education Planning - help your children succeed by ensuring you’re financially prepared for the high cost of post-secondary education

Retirement Planning - understand where your retirement income will come from, and how to access it in the most tax-efficient manner

Company Retirement Plan Review - this includes pensions and group RSP’s

Risk Management - how to protect your family in the event of your death or disability

Taxation - ensure you are paying only what you are legally obligated to pay, and that your investment strategies are tax efficient.

Estate Planning - preserve your assets and ensure they are passed on to your heirs in accordance with your wishes

Business Planning - succession planning strategies for small business owners

Other relevant and client specific issues - e.g., whether to choose a short or long term mortgage, lease or buy a car etc.

The 6-step financial planning process we follow at Durham Financial is one of collaboration and partnership with our clients:

1. Understand your key life goals

All of our financial plans begin with you. We meet as many times as needed to understand your key life goals (e.g., retirement, children’s education, vacations, new home, and estate for heirs).

2. Map out your current financial situation

We conduct an in-depth analysis of your current financial situation. Our approach is personalized and comprehensive, taking into consideration assets and liabilities, pension plans and group benefits, estates, income tax returns, and insurance policies.

3. Identify areas of financial concern

A comprehensive and in-depth analysis of your current financial situation will enable us to identify areas of financial concern, such as a high tax burden, inappropriate insurance type or coverage, or inferior investments.

4. Create a comprehensive strategy

By taking into consideration your goals, your current finances, and areas of financial concern, we’ll create a comprehensive strategy with written recommendations, to achieve your goals in the most effective way.

5. Develop an action plan

We’ll present you with a concrete action plan and steps you can take in order to reach your key life goals.

6. Review the plan periodically

We provide periodic reviews and follow-up, including important date reminders such as RRSP contributions and tax installments.

At Durham Financial, we focus on dealing with clients, face-to-face, to help them manage the financial part of their lives, through a plan tailor-made to their changing situation and unique needs.