Take the Pulse of Your Financial Future prepared by Financial Planning Standards Council (FPSC)

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Disclaimer

This presentation was initially prepared by Financial Planning Standards Council (FPSC).

Comments and opinions based on the presentation that are expressed by (insert name – John Doe, CFP)

are those of the CERTIFIED FINANCIAL PLANNER® professional and do not necessarily reflect the views of FPSC.

What is Financial Planning?

Financial planning is:

More than investment decisions

More than RRSP’s and mortgages

It’s the process of creating strategies to help you best meet your life goals, through the proper management of your financial affairs.

Why You Should Consider a Financial Plan?

Know How to Improve Your Finances

Fewer than 2 out of 10* Canadians

have a comprehensive financial plan.

But 42% of people who have no financial plan say they also don’t know what to do to improve their financial situation.

All statistics used in this presentation are from the Value of Financial Planning Study (2010) conducted on behalf of the Financial Planning Standards Council

Meet Life Goals

Comprehensive financial planning can help Canadians achieve self-identified “life-goals.”

Individuals with comprehensive financial plans report that they are more likely to achieve their goals.

Retire From Work, Not Life

HALF of those with a comprehensive plan are on track to retiring in their desired lifestyle

…while only 18% of those with no planning say they are on track

Have Peace of Mind

36% of those who’ve done no planning have “peace of mind” about their financial situation

BUT

61 % of those with a comprehensive financial plan have “peace of mind”

Get Over “Getting By”

57% of Canadians who have done no planning feel they barely get by every month

…70% of those with a comprehensive plan don’t worry about getting by

Be Ready for the Unexpected

“If anything should happen to me, the people

I care about would be financially looked after”

72% Comprehensive Plan

38% No Planning

Don’t Get Left Behind

31% of individuals with no planning feel they can get to their yearly desired vacation spot

…66 % of Canadians with a comprehensive plan feel they don’t have that problem

Stop Renting

Nearly ¾ of those with a comprehensive plan are on track

to owning their own home

Less than ½ with no plan feel they are on the right path to

owning their own home

The #1 Thing to Remember About Financial Planning

Financial planning is NOT REGULATED in most Canadian provinces (exceptions: B.C. and Quebec)

Provincial governments have NO RULES about who can call themselves a “financial planner”

ANYONE can call himself a “Financial Planner” - and solicit clients

When Choosing a Financial Planner…

Its important you know: what to look for in a prospective financial planner the right questions to ask what you can reasonably expect from the process

It’s your money and you are making the decisions. You need to ask the hard questions!

Your Due Diligence

Check into your advisor’s credentials Is she in good standing with a licensing body, such as FPSC?

Ensure the credentials are relevant to you What are your needs? Do the credentials of your advisor or

planner match with your needs?

Check her professional history Has any disciplinary action taken against her? Are there any formal complaints?

What is FPSC?

A not-for-profit organization based in Toronto, Ontario

Purpose: To ensure the financial planning needs of Canadians are well served.

FPSC licences Certified Financial Planner® professionals in Canada

More than 18,000 CFP professionals across Canada

FPSC enforces the CFP Code of Ethics.

CFP® Professionals Are…

Competent Met high standards of Education, Examination, Experience

Ethical Abides by the CFP Code of Ethics, enforced by FPSC

Committed to putting your interest first, every time

Current Keeps up-to-date through mandatory Continuing Education

What CERTIFIED FINANCIAL PLANNER ® Professionals Know About

CFP professionals have education and experience in addressing these areas, and how they fit together:

Tax Planning

Retirement Planning

Estate Planning

Asset Management (including investments)

Financial Management (managing “Day to Day”)

Risk Management (including insurance)

CFP® Professionals Make A Difference!

Stay on track!

76% who deal with a CFP professional reported feeling more "on track" with their financial affairs

Yet only 35% of people receiving no professional advice said they feel “on track”.

Resources at www.fpsc.ca

Find a CFP Professional A searchable database of CFP professionals across

Canada. Preview practice profiles, areas of specialty and compensation structures

Check a CFP Professional Is your current or prospective planner a CFP

professional?

10 Questions to Ask Your Planner Make sure you are asking the right questions! Print this

and take it with you to the initial meeting

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Thank you