What We Do
In an ideal world, we would have the opportunity to prepare a comprehensive financial plan for each and every client. However the vast majority of clients approach financial planning, at least initially, from a modular perspective.
A modular financial plan refers to a financial planning engagement that focuses on a single, targeted financial need or issue in isolation such as
Retirement income planning;
Risk management and insurance planning;
How We Do It
I follow the six-step process as defined by the Financial Planners Standards Council.
At the completion of this process, whether the financial plan is comprehensive or modular, the following is a summary of what is included in the written report.
a summary of your current financial situation;
a statement of your financial goals and lifestyle objectives;
an evaluation of your current progress towards those goals, and a needs analysis to identify projected shortfalls;
a discussion of the assumptions used in preparing your plan, and their sensitivity to change;
recommended strategies for reaching your goals; and
an action plan for implementation.
Think of this report as a game plan. If you follow it, you will be more likely to achieve your financial objectives. The key to success, therefore, is moving forward and implementing the recommendations.
How We Are Paid
The financial services provided as part of our Client Engagement Document (CED) are for financial advice with respect to the development of a Financial Plan (PLAN). This PLAN is offered as follows.
Asset-Based Planning – If a client maintains at least one account with assets of $35,000, the development of a plan is included without further cost. This PLAN includes the development of a Situational or Comprehensive Financial Plan and specifically includes implementation, review and monitoring of the PLAN. This minimum asset level may be waived at the discretion of Don Maycock. This option is the default engagement that Advantage Wealth Planning is offering.
Fee-for-Service Planning – A fee-for-service consultation that is limited to the development of a Situational or Comprehensive Financial Plan only and specifically excludes implementation, review and monitoring of the PLAN. The fee for this engagement is quoted on request and depends upon the scope of the plan. If this option is selected, an additional quotation will be provided by Advantage Wealth Planning for the cost of the engagement.
Territory We Service
I have offices in in Belleville and Kingston Ontario but am more than willing to meet at your office or home, whatever is most convenient for you.
I also service clients between Ottawa and Toronto along the 401 and 416 corridor.