Our Process
Working with Lainymar
An outline of our collaborative process
Our First meeting is an introduction to each other, and if we are a fit:
About your family, career, and background?
What’s important to you?
What does your money mean to you?
What do you want your money to accomplish for you?
What is your main overarching financial concern right now?
Onboarding – Letter of Engagement for planning services
STAGE
1
Second meeting and subsequent ongoing meetings: Our discussions will help us to get to know each other and your situation better:
Guide you through our visioning process.
Guide you through our values exercise
Guide you through our life planning exercises.
Identify expected life transitions.
Summarize your values and aspirations for the future.
STAGE
2
Discuss Income & Assets
Snapshot of your net worth
Snapshot of your income & spending
Review, pensions, business assets & real estate holdings.
Discuss Retirement Planning
Identify your retirement vision.
What are you leaving – moving toward?
The cost of your retirement
Accumulation/Decumulation strategies
How registered accounts fit.
Discuss Legacy Planning
Education around wills and estate planning
What planning you currently have in place
Identify planning needs.
Gaps to be addressed.
Discuss Investment Strategy
Investment education
Your personal risk profile
Investments you currently hold (identify risk and cost)
The Investment Policy statement
Discuss Protection Planning
Protection education
Review your need for insurance coverage
Review what coverage you currently have in place
Identify any gaps in protection
Discuss Tax Strategy
Optimization through planning with 2 main objectives, minimize tax and maximize Income through:
- Income deferral
- Income splitting
- Income spreading
- Tax sheltering
- Effective use of Tax credits
Identify short-medium - long term requirements.
Presentation of the Plan
Review and discuss our findings and optimize planning as required.
Present proposal for implementation and our ongoing relationship
Investment strategy
Risk management strategy
Tax strategy
Review fees
STAGE
3
Implement the plan
Onboarding & Documentation requirements
Client/Advisor Agreements
Investment policy statement
Introduction to other professionals
Coordination with existing professionals
Introducing our Workbooks, for ongoing planning and coaching
Transition to our client service calendar
STAGE
4
ONGOING
Monitor – Adjust
We meet at least twice a year to make sure you maintain you’re on track, and good financial health is maintained. Any circumstances which may have changed, new goals, or transitions you anticipate.
Review goals and objectives of plan
Review Investment policy statement
Market and economic conditions
Your personal investment performance - gaps which need to be addressed