How We Can Help:
Have you mapped your course for this year? 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.
We can walk you through collecting and analyzing your personal and financial data, identifying your goals and objectives, and creating and implementing an action plan. Ensuring that your program is reviewed and updated regularly completes the planning process.
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. That plan may include elements from various planning areas:
Below is a brief description of the six principal different planning areas we address:
I. Cash & Debt Management One of the foundations of sound financial planning is determining the best use of cash and debt. We will assess your existing cash and debt situation and recommend the most efficient service for your money and whether your debt is optimally structured. We 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. We will assess your portfolio, and we will make recommendations based on, among other things, your objectives and risk tolerance. We will discuss asset allocation, 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. We will address all of these areas. We will make recommendations based on your retirement goals, current and possible future tax status, family situation, and risk tolerance. Our advisors will consider integrating government-sponsored income plans with your portfolio 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. We 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. We are knowledgeable about the tax laws governing the transfer of investment and other assets at death. We can advise you as to the most favourable manner in which to structure your current holdings. If required, we will also inform you on the subject of “living wills” and powers of attorney. You 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 objectives for the future of your business.
We are committed to looking at the big picture. Depending on your circumstances, some of the areas noted above may not become part of your customized financial plan; we will discuss each topic.