50 Things I Do as a
Financial Advisor
Wealth Management Services & Investing
1. Create a personalized investment strategy –Tailored to your goals, your risk tolerance, and your time horizon. There are always things that set you apart from other people in your demographic. You are unique. Sounds corny but it's true.
2. Help you understand what's going on in markets – Wouldn’t it be nice to understand what’s going on?
3. Optimize tax-efficient investing – Growth is great. Tax efficient growth is better.
4. Help you understand market trends – Education is a cornerstone of my practice.
5. Set up automated wealth-building strategies – Statistics show that people who automate contributions retire wealthier.
Retirement Planning
6. Calculate how much money you need to retire – It’s probably more (possibly less) than you think.
7. Optimize RRSP, TFSA, and pension contributions – They all have their place. Get the best mix for your future.
8. Plan retirement income streams – So you never outlive your money.
9. Prevent costly withdrawal mistakes – A mistake can be catastrophic.
10. Ensure you're not vulnerable to longevity risk – Because – good problem - you might live longer than expected.
Insurance & Risk Management
11. Analyze your life insurance needs – Are you underinsured? Overinsured? Let’s find out.
12. Set up disability insurance – Because one accident can derail everything.
13. Ensure your family is protected financially – Nothing reminds you of your mortality quite like having children.
14. Help business owners with key person insurance – Your corporation can own a policy on your most important employees.
15. Navigate critical illness insurance – So a diagnosis doesn’t wipe out your savings.
Estate & Legacy Planning
16. Make sure your wealth transfers smoothly – If you’ve settled an estate before, you’ll understand what “smoothly” means.
17. Coordinate with estate lawyers – Why not ensure your will and trusts match your financial plan.
18. Generational planning for farmers – This deserves its own book.
19. Minimize estate taxes – Again, if you’ve settled an estate before, you probably understand the significance of this.
20. Help with charitable giving strategies – You can leave money to CRA, or you can leave money to charity. What would you prefer?
Tax Planning
21. Find ways to reduce your taxable income – It’s not always correct to do this! It’s just most of the time correct to do this.
22. Optimize your RRSP/TFSA contributions – A meeting in January or February is especially useful here.
23. Work with your accountant to identify tax deductions and credits you're missing – Most of the time there’s nothing here. But every now and again, I’ll find out someone is leaving thousands of dollars on the table.
24. Plan for capital gains and losses – It’s one of the biggest advantages of capital gains. You can time them.
25. Coordinate with accountants to optimize your returns – A holistic approach saves you more.
Cash Flow & Debt Management
26. Optimize cash flow from investments – I feel like I talk a lot about tax. This is another “tax optimization” category.
27. Help build a debt management strategy – Again, not always correct, but frequently correct.
28. Defer tax when possible – Use RRSPs, Life Insurance, and timing strategies to delay taxation.
29. Plan for big expenses – Houses, weddings, education. A self employed person having a kid. Not everybody gets mat leave or pat leave.
30. Ensure you always have an emergency fund – Because life happens.
Business & Professional
31. Set up financial strategies for business owners – Separate personal and business finances.
32. Optimize corporate investments – Google “passive corporate tax rate”. Optimization of corporate investments is really important.
33. Structure business succession plans – So your company doesn’t collapse when you retire.
34. Set up group benefits, or group RRSPs – Group benefits are table stakes if you want to retain your top employees.
35. Help create an exit strategy – Create a saleable asset if you can, or fold it cleanly if you can’t.
Life Insurance as an asset
36. Use dividends to buy more coverage – Increases death benefit and cash value.
37. Retain key employees through life insurance – Create a compelling reason to stay.
38. Use policy loans for tax efficiency – Access liquidity without triggering tax.
39. Fund retirement – Some of the most impressive wealth-creating strategies involve life insurance, and you’re doing yourself a disservice by choosing not to be aware of them.
40. Transfer wealth efficiently to heirs or charities – Life insurance policies are some of the most tax efficient growth vehicles that exist.
Life Transitions & Special Situations
41. Financially plan for a new child – RESP? Life insurance? Budget changes?
42. Help with financial clarity through divorce – Splitting assets is complicated.
43. Provide financial guidance for families caring for aging parents – Navigating eldercare costs and estate issues.
44. Provide financial guidance for families experiencing cognitive decline – I unfortunately have some experience here.
45. Guide you through sudden wealth events – Inheritances, settlements, or lottery wins—don’t waste it.
Behavioral Coaching & Peace of Mind
46. Keep you from making emotional financial mistakes – Panic is expensive.
47. Help you avoid bad financial advice from internet “experts” – There’s a lot of it. Some of it is online, and some - more complicatedly - you might have been raised with.
48. Monitor your progress – Keep you on track with your goals, and celebrate milestones!
49. Give you clarity and confidence in your financial future – No more guessing.
50. Be the first call when you have a financial question – Whatever it is, I’ll help you figure it out.