Financial Planning – MDL Planning2020-11-20T06:10:24+00:00

All Great Things Begin With A Dream

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All Great Things Begin With A Dream

Learn more
Schedule a Call

But a dream without a plan is just a wish.

Planning is the first and most important factor in securing a solid financial footing for you and your loved ones. As you begin to consider retirement, we are able to help you make the critical decisions about cash flow, investments, taxes and risk management.

We are able to adapt our role to your needs. We have found that in some cases individuals only require a skeleton plan and others prefer a full financial approach. We are able to customize our responsibilities to your requirements.

With MDL financial you have the ability to choose planning only or planning with wealth management. We can help you select the service that is best suited for you needs.

What is financial planning?

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Planning Services and Fees
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During this session we meet and discuss your current financial situation and expectations of the future. This gives you the benefit of our experience and knowledge and we can offer an objective appraisal of your financial health and prospects for the future. We are able to give you the perspective of an observer to highlight any gaps and help you refine your vision for the next steps in your life.

Our goal is that you leave our meeting with clarity and an idea of how we could help you achieve your dreams.

There is no cost for this confidential appointment.

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During this meeting we will again discuss current finances including expenses and assets as well as plans for the near and distant future. We will be able to develop a number of scenarios to help you see the potential of various investment opportunities.

You will leave with a clearer vision of your goals and how to meet current and future needs. With a commitment to a solid plan most people are able to achieve the success they are after.

We usually plan to coordinate with other professionals that you may already have on board. This includes an attorney for an estate plan, an insurance broker for contingencies, tax advisor for their perspective of your liabilities. At MDL Financial we will act as the pivot point for all these advisors. This gives the client the confidence that all is well and he or she may continue to grow in their career and personal life.

Current studies show that 81% of Canadians who have developed a financial plan, feel they are on track with their goals and 65% of Canadians with a plan feel they have enough money for the occasional splurge.

  • Cash Flow management
  • Retirement Planning
  • Tax planning
  • Estate Planning
  • Risk Management
  • Education Planning
  • Elder Care Planning
  • Investment Planning

The fee for this service is $4,500. In some more complex cases, this fee may be higher.

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The business owner has needs that can differ from other professionals. They have concerns about transactions, shareholder and investor involvement, succession planning and other issues.

Our goal in these cases is to provide a broader perspective. We will, of course, include personal finances but a great deal of the focus will be on the current and future operation of the business concern and integrating personal and family needs.

We are able to work with even complicated companies like family owned, operating companies, and holding companies. We have experience dealing with family trusts and silent partners. While this service is more expensive, it is actually very cost effective considering the complexity of the business and personal issues.

  • Compensation strategies
  • Business succession planning
  • Shareholder agreement funding
  • Estate Planning considerations

The cost for this service is $6,500. In some cases it can increase depending on the nature of the business and complexities of the issues.

We are happy to offer a credit for those who begin with us as an individual plan and then decide to opt for our business service as well.

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Planning for retirement seems to become more confusing each year. We offer the clarity of the realistic approach that is the most tax efficient and offers the most for the retiree and his or her family. Through discussion we can arrive at approximate date/age of retirement, expected financial needs, gifting to children, etc.

We propose a number of circumstances that include downsizing your home, partial retirement, and other options.

Our fee for this service is $2,500. If your situation is more involved, the cost could increase.

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Through our planning for insurance coverage we examine any gaps that may exist, any risks to overall financial security, and explore strategies for greater value for the premiums paid. The idea is to effectively manage the risks of disability, critical illness, etc. while continuing to build your wealth. The end is to leave enough money to your beneficiaries so they will remain comfortable as well as any philanthropic gestures you may desire.

In order to do this we help you assess the merits and disadvantages of any current policies and investigate the opportunities through other outlets. Frequently we are able to discover new options that more closely align with your objectives and budget.

We charge $1,500 for this service but the amount may modify upon review of critical factors.

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Many people already have an investment portfolio. Oftentimes this is handled by the individual or couple alone without professional advice. At MDL Financial we offer a second (or third) opinion on the quality and diversification of your investments. We are able to identify any opportunities you may have overlooked. We are great proponents of education and will help you understand the benefits and disadvantages of any investment.

Using our education and expertise we can help give you the best balance for your current and future needs and develop the optimal plan for continued growth and stability. We always include an evaluation of costs, losses, tax implications, and regulatory issues.

  • Portfolio Analysis
  • Develop Investor Profile Report
  • Identify gaps and problems in portfolio

We charge $1,500 for this service in most cases, although there may be adjustments.

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Everyone should have an estate plan. There are many nuances to consider and we are able to help you navigate the legal and financial details. We can evaluate the impact of taxes and how they may be reduced. We work closely with your estate lawyer and can make recommendations if necessary.

Before sitting down with the attorney we will capture all the information necessary to develop a comprehensive estate plan. We will utilize our estate planning workbook to coordinate all the information for your executor when the time comes. We want you to be sure that you understand all the decisions you make and any impact they will have on taxes or financial issues.

We usually charge $1,500 for this planning.

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Sometimes you just need an independent consultation for a specific issue. We understand that and can offer our services on an hourly basis.

We will deal with the specific questions you pose and offer our solutions. We are also able to review any existing financial plans prepared by another company in lieu of developing a new one from the beginning. In this case we focus on any gaps, critical changes in your lifestyle or condition, and regulatory issues.

Our fee is $300 per hour.

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For those willing to invest a minimum of $250,000 we can offer a comprehensive investment strategy that will integrate into a cash flow, tax, and retirement plan we develop with you as a team. This will include ongoing reviews, investment advice, and financial planning. There is a graduated annual fee depending on the amount invested.

  • First $1 million is 1%
  • Next $1 million – $5 million is .8%
  • Next $5 million – 15 million is .6%
  • Next $10 million to $25 million is .4%
  • Customized pricing available for accounts $25 million and up

Additionally there are product costs of:

  • Actively managed portfolios (i.e. investment counsellors, mutual funds, segregated funds) have embedded fees that typically range from .4% to 1%
  • ETFs range from .05% to .85%
  • GICs and annuities do not have embedded management fees. A sales commission is factored into the yield of the product
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Frequently asked questions

What is your typical client?2020-10-02T11:06:58+00:00

We don’t pigeonhole or stereotype our clients. Each person is unique in their financial goals and situation. Most of our clients do share the desire to be empowered, set achievable financial goals and learn how to accomplish these things. We work with people of all ages and wealth levels. They turn to us for honest and forthright advice on an ongoing basis.

How long does the process take?2020-09-19T01:29:21+00:00

After we have all of your pertinent information, the first draft can be produced in about 3 or 4 weeks. After that it may take up to six months to fully implement the plan. Then we are available to you for ongoing advice when situations change.

What can I expect from you?2020-09-19T01:29:21+00:00

We are professional, experienced advisors. We work toward your interests only. You can expect us to ask a lot of different questions. We want to know all about you because your finances impact almost every aspect of your life including career, family, health and leisure. The more information we have and the more forthcoming you are, the better we serve you. After that we are available as conditions change. We plan to stay in touch to be sure the decisions are still relevant and to help with any new opportunities.

Are financial planning and investment advice the same?2020-09-19T01:29:21+00:00

No. Financial planning, what we do, is a comprehensive overview of all of your life including budgets cash flow, borrowing, insurance, tax planning and more. We make sure your investment advise correlates with your goals and helps determine which securities will best fit your plan.

If you do my financial plan, must I invest with you?2020-09-19T01:29:21+00:00

Not at all. We charge for advice and for the plans we develop. After that you are free to hire anyone you like to handing the investment process.

Are you tied to any specific investment products?2020-09-19T01:29:21+00:00

We are a completely independent advisory service. We are not connected to any financial institution or its products. Our goal is to find the best combination of products that are available and will help you achieve your goals.

Do you take commissions from financial institutions?2020-09-19T01:29:21+00:00

No. We do not receive any commissions on investment products from our financial planning clients. For those who choose our Wealth Management Service, we take a fee as a percentage of the assets we manage. These are fully disclosed. According to industry practice, we can receive a commission on insurance purchases. All of our fees and commissions are transparent. We voluntarily provide all information without being asked.

Do you share fees with other professionals?2020-09-19T01:29:21+00:00

No. Although we are often asked to make recommendations of professional specialties, we do not accept any commissions or fee splits.

How do you get paid?2020-09-19T01:29:21+00:00

Our fees are based on the service we perform. During our complimentary consultation we will help you determine which services would be most appropriate for your needs and provide you with our fee schedule. You can also review those amounts here. If you have questions, do not hesitate to contact us.

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