A Comprehensive Financial Plan is a lengthy process involving a Six Step Process beginning with information gathering and finishing with monitoring (and making any necessary changes). Many people mistake retirement planning as financial planning however as seen below retirement planning is only one aspect. Financial Planners earn income in several different ways 1) Fee for Service 2) Combination of Fee for Service and Commission 3) Commission Only. Due to the cost most people opt for Number 2. Number 1 is recognized as the best way for the consumer as it is the optimum way to avoid conflict of interest and provides the consumer best opportunity for objectivity. A good planner not only works with their customer preparing a comprehensive plan but also Educates their customer by providing timely and relevant information. A good planner provides a written outline of their commitment to provide their services and how the planner will get paid. A good planner carries errors and omissions insurance, belongs to an appropriate professional association and may or may not have a professional designation. Most professional associations require the planner to update their knowledge annually and errors and omissions insurance protects the consumer against mistakes. Kewcorp Financial Inc. provides a written contract for services outlining our commitment and cost. We provide a planner whom carries errors and omissions insurance and belongs to Advocis.™
Kewcorp Financial provides a Financial Coordinator to assist its customers in organizing their affairs and maintaining their records. The overall use of the Coordinator is to maintain conformity to the Six Step Planning Process. We divide your coordinator into five sections:
Financial Planner: This section is used for general information purposes and forms the basis for a comprehensive financial plan. It includes Budgeting, Income, Retirement, Savings, Net Worth, Goals and Insurance.
Tax Planning: This section is used for the preparation and planning of all matters pertaining to your income tax. Some of this information is now available online.
Estate Planning: We use this section to maintain and update your will, any estate objectives and track the after tax value of your estate. We work in conjunction with Patrick A. Reid Professional Corp. Phone : [Phone: 780-449-1606]
Patrick A Reid Professional Corp 2 Athabascan Ave, Sherwood Park, Alberta T8A 4E3
Investments and Savings: This section provides information regarding the results of your investment and savings goals. Important information you need to know. Are you achieving the results that you are looking for and how does this relate to other results. We track your information on line and live – no need to wait for statements. This provides total portfolio results so that tracking gains or losses is a matter of combining all your investment or savings – not one company or fund.
Miscellaneous: We use this section to implement and track your plan, organize personal matters such as a credit card log, home inventory, correspondence and or hold copies of titles and or certificates.
