1.
Did your advisor engage a team of professionals in insurance, tax, wills and estate planning when developing scenarios and solutions to best fit your needs?
2.
Have you had an annual review to ensure any significant life changes (i.e.: marriage or divorce, children, your health or that of an elderly parent, employment, inheritance, etc.) have been addressed in your plan?
3.
Do you understand how your financial plan relates to your specific goals such as acquiring a summer home, travelling, children’s education, retiring outside of Canada, philanthropy, sale of your business, etc.?
4.
Does your financial plan include tax planning strategies that saved you money on last year’s tax return?
5.
Have you reviewed your will with your financial advisor within the past 5 years to ensure it reflects your current financial plan and your testamentary (after death) wishes?
6.
Does your plan include an insurance needs analysis to determine if you have adequate coverage in the event of a death or disability?
7.
Does your financial plan specify a retirement spending strategy, detailing how your retirement income will be funded?
8.
Do you have a written financial plan?