"Being organized is often the most difficult. Once you have eliminated the financial mess, you will have more time and energy to focus on things that really matter. The purpose of financial planning is to set and achieve goals by making smart decisions with your money."
- Jacques Lampron, Financial Planner
Financial planning for people in business is our strength, our specialty! The seven steps, as recommended by the IQPF (Institut Québécois de la Planification Financière), are our starting points.
Prepare a personal financial statement and notes, determine the cost of living, determine the change in cash flow and analyze the personal financial statements to assess your situation.
Insurance and risk management
Assess and quantify risks related to living benefits (disability or critical illness insurance) or death benefits (life insurance) and review strategies involving insurance products to determine insurance needs.
Optimize the couple's tax situation to reduce the current and future tax burden by taking advantage of all relevant strategies (deductions, tax credits, tax shelters, income splitting, charitable donations, deferred income plans, income deferral, business owner taxation, etc.).
Identify retirement objectives, measure retirement income needs, identify and integrate sources of retirement income, recommend possible choices for public plans, review the various accumulation strategies, determine the order of disbursement and present savings and accumulation scenarios to achieve the objectives.
Establish the current legal situation by examining civil status, family patrimony, matrimonial regimes, civil union, mandate in case of incapacity, powers of attorney, inter vivos trusts and interactions for the business owner.
Determine vesting objectives, review current wills, prepare a death balance sheet, quantify death taxes and estate cash flow, validate the relevance of testamentary trusts in order to take advantage of all planning opportunities.
Determine the investor profile, develop an investment policy, analyze the current portfolio, verify diversification and establish an asset allocation based on tax implications.