The Role of a Financial Planner
As a financial planner, my goal is to look after my client’s financial health. To do this, I:
- analyze your current situation by gathering pertinent personal and financial data: assets, liabilities, existing insurance, investment statements, etc.
- help you set personal financial goals: desired degree of financial independence, retirement objectives, childrens’ education, etc.
- identify the obstacles to achieving these goals: taxes, cash flow problems, not having a savings strategy, etc.
- make recommendations and propose alternative solutions
- coordinate the implementation of the recommendations
- review this plan on a regular basis by meeting with you (at least once a year)
In performing this role, I must comply with the requirements of the Financial Planners Standards Council. This is the organization in Canada (outside Québec) that is authorized to grant Certified Financial Planner designation (CFP) and to set the rules regarding the ongoing professional development of financial planners. The CFP designation is internationally recognized.
Financial planning is used to improve your financial health through simple and tangible means that take your needs into account and that is adapted to your situation. In this sense, a financial planner is your financial health partner.