Frequently Asked Questions (FAQs)
The obvious answer is that you would want someone whom you can trust to know what they are doing and will be around for the long term. I have been in the financial services industry since 1993 (27 years) and had helped over 1,000 Canadians. I provide unbiased advise since I have access to a wide array of financial products from over 60 established financial institutions. I treat client’s data with upmost privacy and confidentiality and most importantly, I return calls within the day and latest by the end of the next day. To help you assess better, you may review my testimonies by clicking here.
No, I do have access to a wide array of financial products from over 60 established financial institutions and I keep myself updated on financial products introduced by most life insurance companies and lenders on a regularly basis and recommend the most competitive and quality products to my clients. If the client has a personal reference I will deliver on what my client wants.
I treat claims very urgently and seriously to ensure it is paid on time to ensure there is no financial burden on the loved ones left behind. I have personally processed and delivered claims that exceeds the expectations of the beneficiaries.
No client is too big or too small since I don’t categorize my clients by A, B, C & D. You will be treated with respect and equally as all my other clients. You are a valued client to me and not just a number like most are treated at the banks.
I encourage all my clients to add to my FB page where you can always be informed of trends in the industry as well as anything that may affect your insurance coverage, claims, investment funds allocation, income taxes and RESP grant, since the government does introduce new changes every year or so.
The most important thing to look out for is the Cash Values and or Savings component of a non-guaranteed insurance policy. An assumption rate of return should not be higher than 6% given the volatility of the stock market.
Every client’s situation is different. Insurance companies had been churning out fancy names for their insurance products. What’s important to know in an insurance policy is how much do you pay and how much is paid when claimed? I do provide a ‘Know Your Options’ comparison in simple terms for you to understand your options and to make a wise and informed decision.
This is a good question and different financial advisors would have different answers. In my opinion, a financial advisor should render their services to an individual regardless of how much money he/she has. What matters most is that, the individual is serious about improving his/her financial health. You may know more about Susy Foo by clicking here.
There are two ways how financial advisors are paid. First, it’s a fee-based basis with an hourly fee ranges between $200-$400 or per-plan fee ranging $1,000-$3,000. Second, the financial advisors are compensated by the issuing fund companies known as the Front-End sales charge of 0-5% or Deferred Sales charge (up to 5%). Most Front-End Sales charge is 0% in today’s market.
To determine if it is worth to pay 1% for a financial advisor, there are a few questions you might want to ask yourself. I assume that 1% is in reference to investment funds and to my knowledge, very few financial advisors would charge a 1% today. You might want to explore further. Some of the questions you might want to ask yourself are as follows:
1. Do I have the time to google the questions I have?
2. Do I have the time to learn the financial and contract terms?
3. Am I able to monitor my portfolio and rebalance where necessary?
4. How many times a year would you like to meet with your financial advisor?
5. How complex is my financial situation?
In any profession, the 80/20 Rule applies. One of the best ways to find one that represents the 20% is by asking friends who are prudent with their finances and very happy with their financial advisors. You can ask for testimonials from the financial advisors and meet with them for a free consultation. Things to look for are:
1. Number of years in the financial industry
2. Is it a one-stop solution providing insurance, investments, education savings &
3. The number of Canadian clients served?
4. Ask for testimonials. To learn more about mine, please click here.