The Value of a Comprehensive Financial Plan

Triad Financial Planning offers fee-only, advice-only comprehensive financial planning services for Incorporated Professionals and Business Owners. This includes both the elements of a personal financial plan, while also accounting for the unique challenges faced, and opportunities afforded to business owners and incorporated professionals. 

Financial Planning for Incorporated Professionals & Business Owners

• Retirement Planning: A thorough understanding as to the adequacy of your current savings as you approach retirement, your various streams of income in retirement, and how they work together to minimize taxes, and provide financial clarity and confidence in retirement.
• Tax Planning: Organizing your personal finances in such a way as to maximize all available tax credits, deductions, and tax-preferred government programs available to you. Also taking advantage of the tax deferral benefits of a corporation, and discrepancies in tax rates to increase your invested capital can make a significant difference over time.
• Investment Planning: Ensuring your asset allocation accurately reflects your time horizon and risk tolerance, while strategically utilizing various investment accounts based on tax treatment, and your individual goals.
• Estate Planning: Ensure your legacy is preserved by organizing your finances and having wills and trusts in place to minimizing estate taxes, simplify the settling of your estate for your heirs, and that your final wishes are carried out as intended.
• Risk Management: Gain a thorough understanding of the risks and hazards you, your family, your partners, and your business face given a disruption to income and an inability to work. Gauge the potential impact on your plan, and the options available to you to minimize this risk.
• Cash Flow Management: Conducting a thorough audit of personal income and expenses often reveals opportunities to minimize expenses, and help guide your income planning for incorporated individuals.
• Income Planning: Individuals with a corporation are able to structure their income to retain additional capital in the company, and in general make draws either as salary, dividends, or shareholder loans where appropriate. Knowing the benefits of each, and having a CFP® professional work closely with your accountant/tax preparer can make draws simple while minimizing taxes.
• Business Planning: Are you purchasing a business or a dental practice?} Do you have a shareholder agreement in place? A Buy-sell agreement? Do you plan to sell? Do you have family members you want to take over? Should you incorporate or not, and when? Do you need a holding company? What is the recommended corporate structure? Are there specific provisions as outlined by my professional college you need to abide by? What is your exit stategy, if any? Working through these questions and many more with your Triad financial planner can help insulate your business from the unexpected, and provide clarity in a fast-paced business environment.
  

Our Process

Triad Financial Planning aims to provide value and clarity to our incorporated professional and business owners clients by gaining a thorough understanding of our clients and their company's financial position, evaluating and assessing opportunities, constructing projections using advanced financial planning software, formulating a clear and concise recommendations backed by rationales, monitoring progress, and regularly re-visiting plans as individual and economic circumstances evolve. 

1. Client signs contract of engagement and disclosures, and data collection forms are forwarded by your Triad advisor.
2. Data collection forms and accompanying statements/documentation are returned to Triad.
3. Extensive confirmation and clarification of data between client and Triad advisor via email Q&A.
4. Financial plan drafted with accompanying written recommendations and rationale.
5. Plan presented to, and written copy provided to clients.
6. Plan assumptions, data, and recommendation re-visited regularly to ensure client remains on track to achieve financial goals.
   

Why work with a Certified Financial Planner (CFP®)?

The CFP® designation is the most widely-recognized financial planning designation in Canada and across the world. This designation is considered the standard for the financial planning profession and indicates that a financial advisor has demonstrated extensive training, knowledge, continued education, skills, and experience in crafting a financial plan for their clients. 

FP Canada who issues the CFP® designation also expects and maintains that CFP® professionals are held to the highest of ethical standards. This, however, is unfortunately not always maintained in an industry that is abound with conflicts of interest and competing incentives such as sales commissions, and trailer fees based on assets under management. As such, it is important to recognize your advisor's incentive structure and ensure all conflicts of interest are disclosed upon engagement. 

100% Value Guarantee

After an initial consultation, a client is free to complete data collection documents and provide supporting statements. Our team will review with no cost or obligation to you. If it is determined that we are able to provide equal or greater quantifiable value to you by having a plan completed, we will consult with you prior to engagement and once agreed, proceed with our financial planning process. If this is not the case, our office will point out any minor issues by phone or email where you may be able to improve your situation, and not proceed with formal engagement at no cost to you.