The start of a new year is a great time for reflection. It’s a chance to think about what’s working in your life and where you might want to grow.
You might be planning to take control of your nutrition, incorporate exercise, or reassess your relationships.
But is there something else you’re forgetting — or avoiding?
Carol Plasier, an Investment Advisor with HollisWealth, wants to help you face your fears.
“Make 2020 the year you take control of your finances!”
The value of good advice
Figuring out your financing can feel daunting, but you don’t have to do it alone. In fact, you’re better off if you get professional help.
“When Canadians receive professional financial advice, their financial assets grow much faster,” Plaisier says, and she has the statistics to prove it.
According to a study presented by Advocis that compared Canadian households that received advice to those that didn’t, the benefits grow over time. Those who receive advice saw:
- 1.58 times more growth over 4 to 6 years
- 1.99 times more growth over 7 to 14 years
- 2.73 times more growth over 15 years
“These are significant differences,” Plaisier says, and it’s easy for you to take advantage.
Planning takes the pressure off
For Plaisier, no two clients are the same so no two plans should be the same.
“My colleague Devon Ethier and I value comprehensive financial planning because it allows us to incorporate the entire picture. Every person and family has different needs, so every plan should be slightly different. There’s no cookie-cutter approach that fits everyone.”
Consulting with an advisor and creating a personalized financial plan can have significant effects on the way you feel in 2020.
A study commissioned by FP Canada found those with comprehensive plans feel better in many ways:
- Financial goals and retirement plans: 81 per cent of those with comprehensive financial plans feel on track with their financial affairs, versus 73 per cent with limited planning and only 44 per cent with no planning.
- Improved ability to save: 62 per cent of those with comprehensive financial plans report that they have improved their ability to save in the last five years, versus 56 per cent with limited planning and only 40 per cent with no planning.
- Dealing with financial challenges: Life throws you curve-balls, but with a comprehensive plan you’ll have more confidence in your ability to handle challenges.
- Indulging in discretionary spending: With a comprehensive plan you’ll have a better idea of the treats you can afford.
“Get started now, and make 2020 the year you take control of your finances.”
For more information, email firstname.lastname@example.org or call 250-586-1332 for financial advice right here in Parksville.
This information has been prepared by Devon Ethier who is an Investment Advisor for HollisWealth® and an Insurance Advisor with Hollis Insurance Agency. Opinions expressed in this article are those of the Investment Advisor only and do not necessarily reflect those of HollisWealth. HollisWealth® is a division of Industrial Alliance Securities Inc., a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. Insurance products provided through Hollis Insurance Agency.