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Our Services > The Financial Planning Process |
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Have you mapped your course for 2007? Thought about what you want to achieve this year and beyond? Creating a plan, and sticking to it,
will help you realize your
personal and financial goals.
Your A.M. Burgoyne Insurance
Associates advisor can walk you
through the process of
collecting and analyzing your
personal and financial data,
identifying your goals and
objectives, and creating and
implementing an action plan.
Ensuring that your plan is
reviewed and updated regularly
completes the planning process.
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Financial Planning
A.M. Burgoyne Insurance Associates
advisors work closely with their
clients to develop and implement financial plans.
We recognize that each client,
family or business has its own
unique set of goals and objectives.
These specific circumstances drive
the customized financial plan we
create for each client, and that
plan may include elements from
various planning areas.
Below is a brief description of the six principal different planning areas addressed by our advisors:
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| I. Cash & Debt Management One of the foundations of good
financial planning is determining the best use of cash and
debt. Your advisor will assess your existing cash and debt
situation, and offer a recommendation as to the most efficient
use of your cash, and whether or not your debt is most
optimally structured. Your advisor can also assist you in
developing a personal budget, if required. | | |
| II. Investment
Planning How your investments are structured will, in
part, determine your tax situation, your risk exposure and the
potential return on your investments. Your portfolio will be
assessed, and recommendations will be made based on, among
other things, your objectives and risk tolerance. Asset
allocation will be discussed, and your advisor will suggest
alternative investments to you, as appropriate for your
situation. | | |
| III. Retirement Income Planning
Personal retirement savings,
employer pension plans,
non-registered investments,
CPP and OAS generally form the
basis for most individuals’
retirement income. All of
these areas will be addressed,
and recommendations will be
made based on your retirement
goals, your current and
possible future tax status, your family situation and your risk
tolerance. Our advisors will consider the integration of
government-sponsored income plans with your personal portfolio
in order to structure your retirement income in the most
efficient manner possible. | | | | IV. Risk
Management/Insurance For many people, protecting their
family and assets is of utmost importance. Your advisor will
analyze your protection needs, assess any existing programs
you may have, and advise you of areas requiring attention.
These areas may include life insurance, key person insurance
(should you be a business owner), disability insurance,
critical illness insurance, long-term care coverage and
extended health insurance. | | | | V. Estate
Planning Ensuring the orderly transfer of a client’s
estate to his or her beneficiaries usually forms a substantial
part of that client’s financial plan. Our advisors are
knowledgeable about the tax laws governing the transfer of
investment and other assets at death, and can advise you as to
the most favourable manner in which to structure your current
holdings. If required, you will also be advised on the subject
of “living wills” and powers of attorney, and can be referred
to a lawyer for more detailed estate planning at your request.
| | | VI. Business Continuation & Succession Planning
Most business owners want to know that, in the event of their
death or disability, their business will either (a) continue
to operate smoothly under new management/ownership; or (b)
will cease operations and an orderly transfer of assets to
beneficiaries will occur. Careful tax and investment planning
will assist you in meeting your personal objectives for the
future of your business.
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| Our advisors are committed to looking at the big picture. Although,
based on your circumstances, some of the areas noted above may not become part of your customized financial plan, each area will be discussed. |
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