Preparing for a Financial Review

Preparing for a financial review can easily turn into a case of information overload. Your financial life likely has a lot of moving parts and your task is to figure out where they all are.

To make sure your meeting is as productive as possible, start a list of the information you should have.

Watch the video for a full explanation or continue reading for the summary.

When you sit down with a Financial Planner or Money Coach, their goal is to get as much information about your finances as they can.

In order to do that, they’ll need information about all of your financial commitments, your budget, and your goals.

If you think of any concerns or questions as you are getting this paperwork together, be sure to write them down so they can be discussed with your Advisor.

Use the list below to make your first meeting as productive as possible!

The 6 pieces of information you should have before a financial review:

  1. Tax Documents
  2. Investment, RRSP, and Pension
  3. Debts and Loans
  4. Insurance & Will
  5. Short & Long Term Goals
  6. Income
    • Track your expenses:
      • Rent/mortgage
      • Property taxes/strata fees (if applicable), home/contents insurance
      • Utilities (phone, internet, heat, hydro, etc.)
      • Charitable donations
      • Food (groceries + eating out)
      • Entertainment (booze, movies, coffee breaks, clubs, shows, etc.)Insurance payments (ICBC, MSP, etc.)
      • Loan payments (student loans, car loans, line of credit, etc.)
      • Clothes/make-up, dry cleaning, personal items, glasses/contact lenses, etc.
      • Gifts (birthday, baby shower, wedding)
      • Travel (vacation, holiday, ski trip, festival, etc.)
      • Pets
      • Children (RESPs, school, activities, etc.)

Knowing or having the documentation for 6 topics above should cover everything that your Advisor needs to know.

However, as everyone is different, this isn’t an exhaustive list.

Working with the right Financial Advisor can make all the difference when creating the right plan for you. 

Our Certified Financial Planner®, Alyx, and our Money Coach, Jen, would be happy to help you create a plan that works for your lifestyle and goals.

Happy planning!