Objective Financial Partners Financial Planning & Tax Services Business Overview
Objective Financial Partners 10-Minute Business and Service Overview
Our Mantra“We sell no products whatsoever. Our sole purpose is the provision of unbiased, objective financial, tax and estate planning advice.”
Objective Financial PartnersPaul McVean graduated with a Bachelor of Accounting Science degreefrom the University of Calgary. He has also earned the Certified GeneralAccountant (CGA), Certified Financial Planner (CFP) and Trust and EstatePractitioner (TEP) designations. In addition, Paul has completed numeroustax specialty courses offered by the Canadian Institute of CharteredAccountants including the In-Depth Tax Course, Income Tax Practice, andthe Advanced Owner-Manager Tax Planning Course and has presentedmany seminars on financial, tax and estate planning topics. Paul hasauthored and been interviewed for articles on a wide variety of topicsappearing in publications such as The Bottom Line, InvestmentExecutive, Advisor.ca and the Ontario Dentist Journal. Jason Heath graduated with a Bachelor of Economics degree from York University in Toronto. He has also earned the Certified Financial Planner (CFP) designation. In addition, Jason has completed numerous financial, tax and estate planning specialty courses from a variety of organizations. Jason has appeared on CTV New Channel and authored and been interviewed for articles on a wide variety of topics appearing in publications such as the National Post, MoneySense, the Globe & Mail, the Toronto Star, Private Wealth Canada, Precedent, Advisor’s Edge and Investment Executive. He is the Treasurer of the Block Parent Program of Canada Inc. (a national children’s charity) and a columnist for the Financial Post (the business section of the National Post).
Why Are We Unique? We Sell No Products Whatsoever Our sole purpose is the provision of objective financial, tax and estate planning advice. We’re Not Like Most Advisors We sell advice, pure and simple. Since our focus is advice, we explain things in layman’s terms and help you take control of your decisions. We Don’t Get Paid By Getting You To Buy We get paid to provide comprehensive, holistic advisory services by fitting all aspects of yourfinancial puzzle together: retirement planning, cash flow and investment* strategies, tax planning, estate planning and insurance* needs analysis. We even do personal and corporate tax returns. * We don’t earn fees or commissions from a referral. We make referrals because we don’t sell products ourselves, and make them to people we can stand behind. We do the due diligence so you don’t have to.
Canadian Financial Planning Industry 150 Fee-Only Certified Financial Planners (CFPs) 18,000 Total Certified Financial Planners (CFPs) 25,000 Financial Planners (including non-CFP) 75,000 Financial Advisors
Busting the Myths Misconception TruthAn investment advisor Investment advisors are generally experts on investmentsis a financial planner and may or may not have financial planning knowledgeAn accountant is a financial planner Most prepare tax returns, but don’t have the time/expertise, or the mandate to get involved tax planningThere are no conflicts of interest in The industry is fraught with conflicts and lacks transparencythe investment / insurance industry because different products pay different compensationI get financial planning from my Some have financial planning knowledge, but many do notbank / investment advisor for free have much expertise, and most of them are compensated based on the sale of products to youI already have a fee-based Fee-based is an investment fee as a % of your investments,advisor, it’s the same thing whereas fee-only is a set $ fee for financial advice onlyI don’t have enough money There are no minimums, whether investments or income,to qualify as a client and every client pays the same effective hourly fee rate
Advice Coming From All Sides? Bank Lawyer Accountant Insurance You Investment Agent Advisor Brother- Rules of in-law Thumb
Ensure Nothing Is Lost In Translation Investment Advisor Bank Insurance Agent Us You Lawyer Brother-in-law Rules of thumb Accountant
Comprehensive Range Of Services* Financial Tax Estate Investment* Insurance* Planning Preparation Planning Strategies Strategies Build a Estate planning What coverage comprehensive Personal (T1) strategy Asset allocation is most financial / development appropriate retirement plan Investment* Understand Will design and and estate what to do with Corporate (T2) Tax strategies use of trusts planning your money strategies Tax-efficient Examine various Investment Powers of inter- “what if” Trust (T3) advisor / fee attorney generational scenarios assessment wealth transfer Pay less tax and Meet an T4,T5 tax slips Performance be more and filings Legacy planning evaluation agent* we efficient know and trust Meet an GST/HST filings advisor* we know and trust * We don’t earn fees or commissions from a referral. We make referrals because we don’t sell products ourselves, and make them to people we can stand behind. We do the due diligence so you don’t have to.
So What Does it Cost? • Financial projections only: Starting at $500 One-Time Financial • Financial projections and 2-hour meeting: Starting at $1,000 • Financial projections identify current net worth and model Check-Up future assets, liabilities, income and expenses, retirement target as well as strategies to help you achieve financial independence • Annual meeting, limited telephone and email Ongoing Financial correspondence, family personal tax return preparation: $2,400 for employees and retirees and $4,800 for business ownersPlanning Including Family • Semi-annual meetings, unlimited telephone and email Personal Income Tax correspondence, family personal tax return preparation: $3,600 Return (T1) Preparation • Meetings include financial projections, tax and estate planning, investment* strategies and insurance* requirements • We prepare personal, corporate, and trust income tax returns • Personal tax returns start at $250 for a family Income Tax Return • Trust tax returns start at $350 Preparation Only • Corporate tax returns start at $1,000 for a inactive company and $1,500 for an active company * We don’t earn fees or commissions from a referral. We make referrals because we don’t sell products ourselves, and make them to people we can stand behind. We do the due diligence so you don’t have to.
What Specific Services Might Be Provided?• Preparation and ongoing monitoring of a personalized and comprehensive financial / retirement plan• Assistance in establishing discipline through savings strategies and evaluating where to allocate extra cash flow• Assistance in debt repayment strategies, restructuring and obtaining or renewing of mortgages with a bank / mortgage broker if necessary• Explain and evaluate client participation in company-sponsored benefit plans• Evaluate investment strategies, asset allocation, fees and tax-efficiency of investments• Facilitate an introduction to a trusted third party investment advisor* if necessary• Assist in planning for children’s education• Discuss tax planning strategies• Review previous year’s personal tax returns (client, spouse and dependent children)• Prepare current year’s personal tax returns (client, spouse and dependent children)• Review wills periodically and co-ordinate amendments or new wills with a lawyer* if necessary• Review powers of attorney for personal care and property and co-ordinate amendments or new powers of attorney with a lawyer* if necessary• Discuss estate planning and assist in the implementation of strategies to accomplish estate wishes in the most efficient manner• Review insurance needs and strategies and identify deficiencies and assist in the elimination of these deficiencies with an insurance broker* if necessary• Stay pro-actively involved in ongoing financial, tax and estate planning * We don’t earn fees or commissions from a referral. We make referrals because we don’t sell products ourselves, and make them to people we can stand behind. We do the due diligence so you don’t have to.
If you have questions . . . . .How much money do I need to save each week, each month or each yearin order to retire by a certain age? What rate of return do I need to earn? Howappropriate is my portfolio?Should extra cash flow be allocated to debt repayment, a TFSA, an employerRRSP/pension plan, a personal RRSP, a spousal RRSP or a child’s RESP?Is my financial plan tax-efficient, or are there things I should be doing differently?What happens if I become sick, injured or disabled, or even worse, if I die?Will my family’s financial plans still be on track or will they be in trouble?Do I have the right type and amount of insurance?What happens to my assets when I’m gone? Should I begin transferring them duringmy lifetime or wait until I pass away? . . . . . we have answers!
Objective Financial Partners South Office: 1 St. Clair Avenue East, Suite 901, Toronto, Ontario, M4T 2V7 North Office: 17075 Leslie Street, Unit 7 & 8, Newmarket, Ontario, L3Y 8E1 T. 416.418.3934 F. 866.261.8912 email@example.com www.objectivefinancialpartners.com