Our Service Offerings
*All engagements that include investment planning services will include an additional contingent fee based on your investment product savings (i.e. mutual fund fees) in your first year after implementing our plan. For example, if you are able to save $1,000 annually in investment product fees, then $500 will be added to our fee. Since this fee is based on your annual savings going into the future, this component of our fee pays for itself.
Fees listed do not include applicable HST.
Services are fully customizable to meet your specific needs.
We offer a wide range of customizable services that can be packaged to meet your needs.
- Budgeting and Cashflow reviews
- Debt consultation
- Fee-only financial planning
- Investment planning
- Investment portfolio second opinions
- Retirement planning
- Workplace pension consultation/advisory
- Robo-advisor partnerships
- Tax planning
- Tax preparation (outsourced)
- Home/Auto insurance reviews and planning
- Life insurance reviews and planning
- Estate reviews and planning
- Significant life decision advisory (i.e. to rent or buy a home? can I afford to go back to school?)
- Financial education seminars
A Fee-Only Financial Plan is an all-encompassing review of you and your family’s personal finances. Through the Novel process, we work to understand your goals and objectives and try to determine whether or not your current situation/the status quo will allow you to achieve those goals.
This begins with a review of your budget/cash flow, debts and investments. The next phase is determining how prepared you are for the unexpected: illness, the death of you or your spouse, loss of employment. And the final phase is an estate review to ensure that you are leaving your accumulated wealth to your loved ones in an appropriate manner.
If your current situation will not allow you to achieve your goals, we will make recommendations for the required adjustments to help you get there. The plan comes with clear action items and timelines for you to put the plan into action.
Since all of our services are fully customizable, we do not provide a one-size-fits-all service. During a free, no-obligation consultation we will determine how we might be able to best work together.
A retirement plan is a subset of a Fee-Only Financial Plan.
A retirement plan can be broken down into 3 primary phases:
- Retirement goal settings/lifestyle planning
- Wealth accumulation
The objective of the goal setting and lifestyle planning is to determine your retirement income goals. Having a clear understanding of what you will require as income in your retirement will set the stage for when you will be able to enter retirement.
During the wealth accumulation phase, the focus is on savings and growing your wealth. This will be accomplished through addressing budget and cash flow concerns, as well as aligning your investment plan to your risk appetite and stage of life.
Drawdown is the more complicated aspect of the plan. There are many ways to fund your retirement, and your accumulated wealth, in conjunction with workplace pensions and government benefits (i.e. CPP/OAS) will serve as the backbone of your retirement income. Here we attempt to map out each year for the rest of your life. This will ensure that future cash-flow considerations have been contemplated. A well-devised drawdown strategy will ensure that your retirement income will be maximized over the long-term.
Whether it be during accumulation or drawdown, a fundamental component is tax-efficiency. Tax efficient strategies will be employed throughout all phases of your retirement plan.
Novel is based out of downtown Toronto, Ontario. However, we are interested in working with clients from all locations. In order to facilitate this, we offer multiple consultation methods.
- Novel comes to you.
- We are willing to meet with you at your location of choice in the GTA.
- Virtual meetings.
- Any number of technologies are at our disposal:
- Google Hangouts
- Something else that works for you!
- Any number of technologies are at our disposal:
No! There is no minimum account size in order to bvecome a client.
Since we don’t directly manage your funds, nor do we gouge you with an ongoing management fee, your portfolio size isn’t a factor in our deciding to work together.
We believe that we should only work together when Novel can provide meaningful value. That said, life is unpredictable. As time goes on, circumstances change, goals and objectives shift, and unforeseen scenarios present themselves. As a result, financial planning is an ongoing exercise.
We recommend that we work together via an annual plan review to accomplish some critical objectives:
- Goal & objective review
- Significant life change impacts
- Risk tolerance review
- Asset allocation rebalancing
- Non-registered Adjusted Cost Base updates
- Assess progress against your plan
- Market condition change impacts
- Tax rule changes
- Review new products on the market
- Make adjustments required to keep you on track to achieve your goals.
The simple answer is no.
We are not investment advisors/dealers and are not licensed to sell securities.
We do not recommend or sell any specific securities (which is a good thing!).
We believe in low-cost, diversified ETF portfolios to help you achieve your goals.
We will make tax-efficient asset allocation recommendations for your portfolio to ensure that you have investments that align with your risk tolerance and goals.