Focus on Financial Planning | Kewcorp Financial Inc.

We work with you to provide current strategies to your financial well being and utilize a six step approach to financial planning. Our process focuses on your goals and plans – not someone else’s. As an independent firm, we maintain an objective view on your financial affairs. When you succeed, we succeed!

We provide independent advice on retirement, insurance, investment, income tax, education savings, estate matters and life style planning. Whether you have a corporation or small business we know how integrate these tools to your benefit and provide the best solutions. We apply technology to provide safe and convenient information including investment statements detailing all your funds in one report. Call today to arrange a confidential independent review of your affairs.

Creating a Financial Plan

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.

Study Reveals

A new report provides a potent argument for financial planners seeking to convince Canadians about the value of having a comprehensive financial plan.

According to a study commissioned by Financial Planning Standards Council (FPSC), the fewer than two out of ten Canadians who engage in comprehensive financial planning report significantly more proactive savings habits than those without financial plans, and in turn claim greater levels of emotional and financial well being.

October 4–10 is Financial Planning Week in Canada, and FPSC is sharing findings from its Value of Financial Planning study to encourage Canadians to put more financial planning into their lives.

Conducted by The Strategic Counsel, between Aug 7, 2009 and Jan. 21, 2010, the study surveyed over 7,000 English-speaking Canadians from varying net worth categories.

The study defined ‘comprehensive, integrated financial planning’ as that in which one’s main financial advisor has provided financial planning for major life goals and events, or at least three of the following planning components: household budgeting, tax, retirement, estate planning, investing, debt or risk management.

Respondents who engage in comprehensive financial planning say they regularly put aside money for short- and longer-term needs, including retirement, education, emergency funds, debt reduction, and home ownership, as well.

Fifty seven per cent of respondents who engage in comprehensive planning said they have improved their ability to save over the last five years compared with only 37% who have had no financial planning.

“As Canadians’ debt levels soar, a minority is proving that financial planning can make an enormous difference in one’s life,” says Cary List, president & CEO of FPSC. “Those with comprehensive financial plans are saving more proactively for the things that matter to them, and are reporting much higher levels of confidence in dealing with life’s uncertainties and in reaching their financial and life goals.”

Savings & investment vehicles
According to the study, those with comprehensive financial plans are also more apt to invest in a wider variety of savings and investing vehicles:

> 80% have an RRSP (vs. 70% who seek only limited advice; 35% no planning); > 43% have a Tax Free Savings Account (vs. 33% limited advice; 15% no planning); > 26% have a Registered Retirement Income fun (vs. 16% with limited advice; 6% no planning).

Financial and emotional well being

Among those who engage in comprehensive financial planning, 71% said, “I am closer to achieving some of my life goals as a result of financial planning”; 70% said, “Financial planning has helped me to have greater peace of mind”; and 59 per cent said, “Because of financial planning, I worry less about money.”

“Comprehensive planning with a professional gets people doing more of the things that are good for their financial wellbeing and ultimately their lives. It’s Financial Planning Week — there’s no better time than now for Canadians to commit to developing a more financially secure future by bringing more financial planning into their lives,” says List.

Selecting your Financial Planner

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.

What Kewcorp Financial provides

Kewcorp Financial Inc. provides a written contract for services outlining our commitment and cost. We provide a planner who carries errors and omissions insurance and belongs to Advocis.™

Kewcorp provides online access to your records based on the Six step planning process. This access allows our customers to view or print documents as required. For instance: need a copy of your latest tax return or notice of assessment – go to the appropriate place, view and then print.

The overall use of this site maintains conformity to the six step process. This site is divided into sections according to your plan.

Financial Planning
- Budget
- General Information
- Goals
- Income
- Insurance
- Net Worth
- Retirement
- Savings

Tax Planning: This section contains all matters pertaining to your income tax and income tax planning

Estate Planning: A copy of your will is placed here along with pertinent documents and estate planning objectives. We work in conjunction with Patrick A. Reid Professional Corp. Phone : [Phone: 780-449-1606] 2 Athabascan Ave, Sherwood Park, Alberta T8A 4E3

Investments and Savings: Savings goals and objectives including retirement as well as your progress are measured here. We track your information on line and live so that all your information is up to date. The comprehensive statements provide you with current information on all your investments. This information provides you with useful ammunition to compare investment returns from all your investments at once not one particular company. For example you might have mutual funds, gic’s, exempt market investments and stocks in your investment portfolio all with different companies. These all appear in your comprehensive online statement.

Education Planning: Planning objectives for your children’s education including the current cost of post secondary education. Statements and current returns are contained in the investment module for results
Lifestyle Planning: This is a new category that we are in the process of developing. We anticipate such things as retirement preparatory education and making healthy lifestyle choices will be contained here, customized to you. A knowledge base from professional health care providers such as medical doctors and others.

View our fee schedule for financial planning services, here.