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Honesty is the best policy with your financial advisor
Money is a very personal topic that many people find difficult to discuss. One person with whom you have to talk about money is your financial advisor. In order for your advisor to help you to their fullest ability, you need to be 100% honest about your situation.
Full and accurate disclosure
Financial planning is a highly personalized process. Your advisor will ask you a number of questions when you start working together, in order to help you grow your wealth and enjoy financial security. It’s important that you disclose all the facts about your employment, financial holdings, expenditures, debts, risk tolerance, lifestyle and goals, and to keep your advisor updated with any changes.
Only with a complete and accurate picture of your financial and personal situation will your advisor be able to:
- Recommend appropriate investments. With more investment options available than ever before, it’s important to choose those that are compatible with your investment timeline, your financial goals, your strategic preferences and your comfort with risk.
- Ensure you are protected. A good financial plan includes the right types and amount of insurance to protect you and your family from the financial consequences of a misfortune.
- Match a financial strategy to your needs. Every person has a different idea of what retirement looks like, and different goals for the journey that takes them there. Your financial advisor needs to look at the resources available to you and what you want from life, retirement and a legacy, to create a strategic plan to help you achieve the most from your financial assets.
For example, one of your advisor’s tasks is to develop and maintain a balanced portfolio. If you keep an investment property secret, for example, you could end up with a portfolio that’s over-weighted in one asset class because your advisor didn’t have full and accurate information, and miss out on strategies to help minimize taxation.
Feel comfortable with Carte
Your financial advisor is a partner who’s on your side. When you work with any professional, it’s important to choose someone you trust and feel comfortable working with, and who specializes in the areas most relevant to your situation.
At Carte Financial Group, we pride ourselves on the high calibre of our award-winning team. We were named the #1 firm in the Investment Executive (“IE”) Dealer’s Report Card 2019, where we were praised for the high quality of technology and other resources we provide our advisors.
You can also be confident that your Carte Financial Group advisor has access to a range of qualified professionals (such as tax and legal advisors) and will develop a comprehensive plan that puts your needs first.
Respectfully,
Kirk Purai
President, Carte Financial Group