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Learn more.If you feel confident managing your finances on your own, that’s great! However, most people can elevate their experience with help from a financial advisor.
Advisors are there to guide and help you every step of the way. If you’ve never worked with an advisor before, you may be nervous to get started. A great way to put yourself at ease is to know what to expect.
Here are some handy things to know if you’re considering booking a meeting:
Projecting and planning on your own is tough if you don’t work in the industry or don’t have a financial background. It can feel overwhelming to juggle managing a budget, investments, mortgages, retirement planning… the list goes on.
That’s where advisors come in. They take a holistic look at your financial situation and adjust as life changes.
Even if you suspect your needs aren’t complex enough to warrant help from an advisor, think again. Most people would benefit from working with an advisor in some capacity, even if complex planning isn’t needed.
Advisors should be a resource throughout your life. The goal is a lifelong relationship—helping you from your 20s through retirement and beyond. Whether it’s buying a house or planning for big purchases, having someone you can turn to with questions is a huge help.
The first meeting is all about laying the groundwork. They often include a risk and objectives questionnaire to determine what investments are suitable based on life stage.
When you’re younger, the focus is on building wealth and contributing to the right accounts, but how to do it will vary person to person.
At all stages, retirement planning is important, but it looks different for someone in their 30s compared to someone in their 50s. For retirees, the focus shifts to how to pull money out of investments in a tax-efficient way.
Then there’s how much you want to be involved. You may want to be as close to the planning as possible, or you may prefer more of a hands-off approach. You might want frequent updates, or you might just want the occasional check-in. Everyone is different!
Your advisor will request what is needed or helpful. Typically, they will ask for:
Advisors do their homework too. Every meeting varies,so advisors always do prep work based on the purpose of the meeting.
The Aviso Wealth team at Cambrian is structured in tiers. Generally:
Combined assets across Registered Retirement Savings Plans (RRSPs), Tax-Free Savings Accounts (TFSAs), and other accounts matter. Higher tiers have more flexibility and different licensing, but everyone can get planning support.
Working with a financial advisor is all about mutual respect and developing a plan that evolves as your needs change. At the heart of it, advisors are people having real conversations, not just crunching numbers.
Once you’re a client, you and your advisor will meet at least annually to review your plan and update anything that’s changed. It’s important to keep your advisor in the loop about your family as well, since estate planning often involves children or grandchildren. This helps ensure your investment plan supports not just you, but other important people in your life.
Now that you’re familiar with what to expect, you might be ready to take that first step. Whether you feel prepared or not, we can help. Book a meeting today!
Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. The information contained in this article was obtained from sources believed to be reliable; however, we cannot guarantee that it is accurate or complete. This article is provided as a general source of information and should not be considered personal investment advice or a solicitation to buy or sell any mutual funds and other securities.
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