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Joanne Shaw, B.A.
Joanne Shaw, B.A.
Financial Advisor

Wealth Management Wealth management covers many necessary disciplines as we help you move toward your financial goals. The following wealth management skills may be engaged as we work together.

Strategic Planning

Financial strategies are both tactically short- and medium-term processes; while simultaneously taking the long-term strategic view for retirement; potential critical illness and long-term care protection; and estate planning.

The Process

We engage in a mutual process as client and professional advisor, to aim for and achieve your life goals via professional management of your financial affairs. It is a well-rounded interactive process that takes into account all the elements of your entire financial situation. A professional strategy will analyze your situation to identify all the people and/or institutional monetary relationships that often have conflicting objectives.

Goals and Objectives

While implementing financial tactics we address various concepts, while looking at your over-all life needs: assessing your capital needs, investment plans,registered investments and tax reduction strategies,retirement planning, education planning where applicable, as well as any special needs such as planning to care for child dependents.

Benefits of a Financial Plan

A good financial plan is multi-faceted: It must anticipate change and reflect your specific financial goals and objectives, while considering your level of investment risk tolerance.

Your plan should be flexible enough to anticipate life's many fluctuations. Financial circumstances and responsibilities change over time, such as: a career or income changes; the birth and education of your children or grandchildren; major purchases such as a home; retirement; and other life events, such as a disability or need for long-term care. We'll help you create a plan just right for you. You can know you have a financial plan that provides you with the confidence that all of your financial resources are working together toward your long-term financial goals.

We'll help you create a plan just right for you. You can enjoy peace of mind knowing you have a financial plan that provides you with the confidence that all of your financial resources are working together toward your long-term financial goals.

We can help you devise a plan that addresses objectives such as: investment and retirement planning; reducing income and estate taxes. A personalized financial plan that reflects your changing life needs is unique—that is why we'll support you with a financial needs analysis that will help you make wise financial planning decisions designed to meet your long-term and short-term goals.

No Fee, or Fee Based Financial Planning

CANFIN offers both fee based planning and plans without cost. Our advisors are credentialed to conduct financial planning analysis to maximize your net worth over time.

Your Dreams are unique ... and we believe you should have a choice!

Everyone's dreams, needs and financial situations are different. The level of financial planning services and related products you may need from Canfin Financial Group will also be unique and will have a direct bearing on the compensation/fee you pay. We can tailor our fee structure to your unique situation. But, here is the good news…

Your initial meeting is complimentary!

Your initial consultation with a Canfin financial advisor is at no cost or obligation to you. Although the initial consultation will not include a written plan or any recommendations, the advisor will answer your questions about initial and ongoing costs and fees and let you know what you can expect to receive. The options are clear, flexible and affordable as explained below. Being informed, you are free to choose!

Financial Planning, Implementation and Monitoring fees:

As a Canfin Financial Group client, you pay a fee for ongoing financial advice that you receive from your advisor. This fee varies from one client to another based on the time and complexity of your financial situation, mutually agreed to in writing between you and your Canfin Financial Advisor before he/she commences working for you. The various options are:

  1. Fee-For Service If you require pure advice, planning, counselling or monitoring with a written set of recommendations/action steps, this is best done with one of our advisors who is qualified as a Certified Financial Planner (CFP) or a Registered Retirement Consultant (RRC) on a fee-for-service basis (hourly billing based on an estimated time frame). Any ongoing advice would be charged at an hourly rate. Generally, this method of payment is advice centric and you are able to implement their recommendations elsewhere or with a product/service advisor of your choice;
  2. Traditional This is when the financial services industry pays us only when we utilize product solution. Some products already have a “built-in” compensation which cannot be deducted or negotiated; this is typical of insurance products. Compensation is paid to the representative by the company issuing the product. Advice is associated with the product you are buying
  3. Asset Based (Commission Free) Option: This method allows you to pay a set fee based on your investments with us. It is usually a percentage charge (typically ranging between 2% to 0.25% depending on the size of the portfolio). This fee covers the time we will spend creating your portfolio, executing transactions, monitoring, adjusting, and servicing your portfolio and giving you advice associated with it through regular reviews with you. Depending on the investments you choose, additional fees may be embedded in the product cost which is disclosed at the time of establishing and servicing your account. This option is more suitable for high net worth individuals. The fee rate generally decreases as the amount of money invested increases;
  4. Free/Pro Bono Guidance Can’t afford a Certified Financial Planner but need assistance? If this is your situation, we will undertake voluntarily and without payment after our initial consultation and evaluation. At Canfin, we believe financial literacy, sound money guidance and financial planning is not an exclusive right reserved for those who can afford to pay. To qualify for this option, we rely on the honesty of the person requesting our service and the generosity of participating Canfin advisors. This service is not funded by the government; all of our participating advisors are volunteers who wish to give back to the community. Pro bono services offered may be of immense value to someone who can avert bankruptcy. For example, a family in financial troubles might need advice, but can not pay for it. Pro bono services are the only help available when the family needs it most.

Note: The hourly cost, commissions, fees used here are not exhaustive, and are used solely for illustration purposes and may be higher or lower, depending on the complexity, skills, education and product etc.

Tax Reduction Strategies

Tax planning is one of the key strategies of a financial plan.This applies to developing a good retirement savings and income plan (RRSP and RRIF), how to use a Tax Free Savings Plan (TFSA) wisely, and an Educational Savings Plan (RESP) among other tax favoured plans.

All family members should file together because this allows everyone to maximize the best use of credits or transfer of unused credits from each other's tax return (for spouse, common-law partner, children, certain relatives if they live with you), such as medical expenses which can be claimed on a family basis. We have tax specialist who can fill in your tax return to help you maximize your tax advantages.

You can use the Internet if you expect a tax refund for a speedier refund. Where you have money owing on your tax return, you can file early and make your payment by April 30. If CRA owes you money, they will pay you quicker if filed on the Internet. Where you give them deposit information, money can be deposited right into your bank account.

Maximize your deductions and credits

You must complete transactions for many items that qualify for tax deductions and credits by December 31 each year-end to qualify for: medical expenses, tuition fees, child care costs, charitable and political contributions, child support and alimony, safety deposit box fees, deductible accounting and legal fees, professional fees, and union dues.