"Created by Financial Planning Standards Council (FPSC), Financial Planning Week is dedicated to raising awareness of the importance and benefits of financial planning with a qualified professional, encouraging Canadians to take control of their future and achieve their goals through sound financial planning, and ensuring that Canadians have financial hiring literacy so that they are armed with the information they need to find the right financial planning professions".
What does this have to do with investment portfolio strategy?
It is not possible to have a proper portfolio strategy unless you have a plan.
A portfolio strategy has to be built to focus on your goals, the time horizon necessary to achieve those goals and a complete understanding of the risks necessary to achieve those goals. Paramount, is your ability (which is not always clear and may require deeper investigation) to tolerate risk.
All of this is brought out in your financial plan.
And this plan has to be prepared by a qualified professional.
If you want to know if your advisor is a qualified CFP (Certified Financial Planner), go to the website above, click on the tab on the top right titled
"FIND A PLANNER OR CERTIFICANT"
and type in their name.
At High Rock, we have a CFP that prepares our client's "Wealth Forecast" (the financial plan), before we structure a portfolio strategy. After we present the Wealth Forecast, we then develop, in conjunction with our client(s), a strategy that is in keeping with all of the tenets of the plan.
A portfolio strategy without a corresponding Wealth Forecast (the plan), is like driving without a steering wheel, it has no sense of direction.
Oh and by the way, the planning at High Rock is inclusive in the completely transparent fee.
More on our website:
It is Webinar Tuesday at High Rock, lots to discuss on financial markets, portfolio strategy and wealth management.
Tune in to our recorded version at
Should be available at or about 5pm today.
Scott Tomenson,CIM Managing Partner, Chief Investment Strategist