Do You Need A Financial Planner?

How do you know if you’re prepared to do it yourself or if you need the services of an expert? Ask yourself the following questions.

• • Do you think you are you paying too much in taxes?
  • Do you lose sleep when you hear news that may affect your portfolio?
  • Are you concerned you won’t have enough to retire comfortably?
  • Are you making charitable donations in the most tax effective manner possible?
  • Are you confused about conflicting information or advice?
  • Is dealing with your personal finances too time consuming?
  • Does something always seem to get in the way of saving?
  • Are you unsure about where to invest your money?
  • Do you worry you won’t be able to retire when you want to?
  • Do you wonder if you have enough or too much life insurance?
  • Do you worry about what will happen if you become disabled or critically ill?
  • Are you concerned about the longevity of your business if your health suffers?
  • Is it important to you to leave a legacy?
  • Are you worried that not having an estate plan may unduly affect your children/assets?

If you answered “yes” to one or more of the above questions, you could definitely benefit from expert financial advice. Whether you’re planning for retirement, setting savings goals, arranging your will or estate, or managing your day-to-day finances, the expertise of a qualified financial planner can help you ensure you’re taking the right steps.

The Right Relationship

Work with someone who is knowledgeable, professional, and qualified. Criteria you need to feel comfortable and confident that your planner is working with your best interests in mind…

There are several criteria you should consider when choosing a financial planner. You will want to work with someone who is knowledgeable, professional, and qualified, and with whom you feel comfortable and confident that they are working with your best interests in mind. Things you should keep in mind are…

• experience
• qualifications
• types of services offered
• the approach or philosophy of the financial planner
• how the fees are charged and what amount is received by the planner
• the size of their practice

To ensure if LCM is the right financial planning company for you, be sure to visit the “About Us” section of our site. Here we explain everything you need to know about our working relationship, services and philosophy. If you still have questions, be sure to call or send us an email. And remember, the first meeting is complimentary, so you can be sure that this will be the right relationship for you.

Getting Started

There are many things that you can do to get started on the path that is right for you. Within the “Making The Right Decisions” section of our website we walk you through some of the thought processes. How to determine if you need a financial planner, how to determine which planner is right for you and what you should know about financial planners. We also offer you direction on how to determine your goals and your comfort zone. But really, what we need to do is sit down and have a conversation – one that allows you to express your needs and your goals in your own way.

The initial meeting is complimentary to give you the time and first-hand knowledge you need to decide if we are right for you. So don’t hesitate, just give us a call, or send us an email. We’ll help get you there.

Louisa C. Majoros, BBE, CFP, R.F.P.

louisa@lcmplanning.com

905.430.4994

Risk Tolerance Questionnaire

Many people are uncertain about the level of market volatility they can or should tolerate in their investments. The information gathered here will help you and your advisor determine your tolerance or capacity for volatility. Your advisor can then decide if there’s a conflict between the asset allocation you need and the asset allocation you can comfortably accept, given your ability to tolerate investment volatility. When answering the following questions you should have your specific investment objective in mind, as this will impact things such as your time horizon and the types of securities that are appropriate for this investment.

Click Here to view Risk Tolerance Questionnaire

Your Goals & Your Comfort Zone

The driving force behind all of your financial decisions should be your end goal and how you want to work towards it. Whether short-term or long-term goals, saving for your child’s education or a yearly vacation, you should have a strategy in place that works for you.

After establishing your goals and their timeframes, you must determine your investing comfort zone. These are all things that LCM will help you assess, but in thinking towards these decisions, you can use this guide to determine the “type of investor” you are.

Very Conservative:

You prefer a portfolio that is less likely to fluctuate in volatile markets. You are willing to accept lower returns in exchange for a good nights sleep during a stock market downturn. You may have accumulated assets sufficient to allow you the flexibility to choose lower returns and lower volatility and still meet your income needs.

Conservative:

You prefer a cautious approach but are willing to have some exposure to short term market volatility in exchange for slightly higher potential long term gains. You may require an element of growth in your portfolio in order to meet your long term savings goals but are uncomfortable with more than a small percentage of stock market holdings.

Moderate Investor:

You understand that a diversified mix of investments, using conservative holdings to balance riskier ones will create a portfolio that will exhibit short term fluctuations. You also understand that you will likely achieve slightly higher returns over the long term. You plan to accumulate a significant level of retirement assets and realize that growth will be an important element in the process. You may be close to taking an income from your portfolio so an exposure to income producing investments for those payments would be prudent.

Aggressive Investor:

You are comfortable with stock market investments and expect your portfolio to exhibit some volatility, realizing these movements are both up and down. You are either in the process of or have already saved significant amounts allowing you the flexibility to watch short term down turns without the pressure to sell. You see short term down periods in the stock market as a buying opportunity, not a time to sell as you have the time to be patient for the next eventual upswing.

Very Aggressive Investor:

You will not likely see any benefit to holding even a small portion of your portfolio in conservative, income investments. It’s all or nothing at your stage of the game. You know your portfolio will decline, possibly significantly at times, but also see this as a buying opportunity for eventual long term gains. You may be young, with lots of time to save, or closer to retirement but with a good comfort level and experience with stock investments in order to find yourself in this category.

Not exactly sure into which category you might fall? Complete the following risk tolerance questionnaire and submit it to us. We can provide you with a brief summary of a portfolio allocation that will suit your return and volatility expectations.