IG Wealth advisor Stu Tunheim says it’s important for financial professionals to clearly understand their clients’ short- and long-term financial goals.

Simple steps to finding the right financial advisor

It pays to ensure you’re on the same page, Courtenay advisor says

So, you’re starting to think seriously about what your retirement might look like. You may have your savings sitting with a large financial institution, but you’ve never had a personal consultant managing the funds you’ll be counting on in retirement.

So how do you find a professional advisor you can work with and rely on to handle your retirement planning?

“You may know someone in the industry, or have heard about a person through a friend. But a good first step is to interview a couple of advisors to see if they really understand your financial goals,” says Stu Tunheim, a consultant with IG Wealth in Courtenay. “Communication is paramount in this business and it’s important they know what your needs are now and in future.”

As you start accumulating wealth, he adds, your consultant needs to be knowledgeable about how tax and insurance implications can affect your ongoing cash flow.

Here are 4 other things to consider when choosing a financial advisor:

  1. Staying in touch – Confirm how often your consultant and their company plan to update you on how your plan is performing. Are you comfortable with that or do you expect more frequent reports or conversations?
  2. What do you get for your money? – Not only do you want to be clear about the level of services provided, ask about such things as accreditation and their fee structure. A transparent explanation of what you’ll pay for the service will help you make an informed decision.
  3. Risk tolerance and timeline – There are many ways to invest – the right investment for you will match your risk tolerance and your time horizon. Your consultant should actively discuss this and be up to date on your personal finances and future goals, Tunheim says.
  4. Tailoring a plan to fit your needs – Will the company create a customized living plan that works well for your needs and can achieve your goals – and put it in writing? For example, IG personalizes and presents you with a copy of your IG Living Plan at the start and can tweak it when your needs change or your lifestyle dictates a shift.

*****

To interview Stu Tunheim for the role of your consultant, email him at stu.tunheim@ig.ca or call 250-338-7811. You’ll find other investment tips on his Facebook page.

Investors Group Financial Services Inc.

Trademarks, including IG Wealth Management, are owned by IGM Financial Inc. and licensed to its subsidiary corporations. This is a general source of information only. It is not intended to provide personalized tax, legal or investment advice, and is not intended as a solicitation to purchase securities. Stu Tunheim is solely responsible for its content. For more information on this topic or any other financial matter, please contact an IG Wealth Management Consultant.

Finance

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