Why getting financial advice may be the best investment you’ll ever make

With the growing popularity of robo advisors in recent years, you may wonder if working with a financial advisor is still worthwhile.

While robo advisors can be a useful service, they take a one-size-fits-all approach. And while that may work for many investors, it doesn’t work for all – particularly if you and your family have unique financial needs.

As you get older and your portfolio becomes more complex, the holistic advice that only a financial advisor can provide is invaluable in helping you reach your financial goals.

Knowledge = confidence when it comes to retirement planning

Almost two-thirds of Canadians’ financial wealth ($3.7 trillion in total) is controlled by retirees or near-retirees, according to Investor Economics research ^[1], and that amount is predicted to grow to $6.4 trillion by 2030. Yet only 25% of Canadians have a detailed financial plan. A financial advisor can help you understand how much you need to be saving for retirement and identify income sources in retirement – giving you the confidence you’re on the right track. 

The role of a financial advisor

We all have goals we want to achieve in life. A financial plan helps turn those goals into reality. No matter what stage of life you’re in, we can help you identify and prioritize your goals and needs and develop a holistic and actionable financial plan to meet them. And it doesn’t stop there. As your life and goals evolve, we’ll make sure your financial plan changes too, keeping you and your family on track.

Advice in 6 key areas

Here are some different areas in which we can provide financial guidance to you and your family.

1. Holistic financial planning

We consider values, goals and experiences with money, balancing your needs with possible risks and fluctuations in the market to grow and protect your savings.

2. Investing

We work with you to find the right products to invest in, balancing what life stage you’re in with what the markets are doing. 

3. Retirement

Whether retirement is imminent or years away, we help match sources of income with estimated expenses, so you understand your financial needs for retirement and what you need to do now to meet them.

4. Estate planning

We help you transfer your wealth and legacy efficiently, considering tax implications and maximizing your gifts to heirs and causes that are important to you.

5. Minimize tax

With help from our tax and estate experts, we’ll design a tax structure that allows you to keep more of what you earn and maximize your investment growth.

6. Business owners

Our team will help you find the ideal structure for your business, develop wealth and succession plans, manage cash flows and credit proof your wealth.

What is unbiased advice?

At Richardson Wealth, we believe in the value of unbiased advice for our clients. Here’s what that means.

Some companies exist purely to sell products, so as a client your investment options are limited to just what’s available on their platform (in other words, the tools and resources an advisor has available to service clients.) Some advisors also are compensated by choosing to sell one product over another. 

Here, we get paid to provide the best possible advice to our clients. We have access to a leading investment product shelf that includes alternatives, private placements and proprietary and third-party investment solutions – curated by our experienced investment team. So, when you invest with us, you can be confident that the advice we provide is truly in your best interest.

Ready to get started?

Talk to us today to learn how we can help you grow and protect your money with a comprehensive financial plan.

1 Household Balance Sheet Report 2021 - Investor Economics

2 Canadian Mutual Fund Investors’ Perceptions of Mutual Funds and the Mutual Funds Industry (pollara.com) 2021

3 pollara.com, 2021

4 pollara.com, 2021