Don’s wealth management process

Don’s collaborative process ensures integrated, unbiased, and personalized wealth management that serves his clients now and establishes a cornerstone for future generations to build upon.

With so much at stake, it’s important that financial plans are complete and current. To assist his clients in defining their unique financial, retirement, succession, and estate planning goals — and in implementing their customized wealth management plans — Don follows a six-step process.

1. Discovery;
2. Information gathering;
3. Analyses and recommendations;
4. Final presentation;
5. Implementation; and
6. Periodic reviews.

Discovery
To begin, Don meets with clients to determine if his planning process is compatible with their goals and expectations.

 
Information gathering
If compatibility exists, clients are provided with a questionnaire to complete and a list of documents to gather, that Don requires to proceed with the clients’ personal (and business, if applicable) analysis.

Analyses and recommendations
In the third step, Don reviews all information and relevant documents.  He evaluates the potential of the clients’ current status in terms of meeting the goals they have indicated. If shortfalls are identified, clients receive his Letter of Engagement (LOE) detailing the services he will provide, an estimate of the time required to complete the clients’ plan, and a summary of his remuneration schedule. Letters of Direction (LODs) authorizing the clients’ other advisors to provide information relevant to the plan may also be required.

Don’s planning document will integrate the collective expertise, advice, and specialized resources of legal, accounting, tax, insurance, and investment advisors into one harmonized plan.

Final presentation
After the team of advisors has agreed on a final plan, Don meets with clients to present the plan and recommendations. Typically, at least one of the clients’ other advisors (often their accountant) attends this meeting. Clients settle Don’s account at this point, and they take possession of the planning document. 

Implementation
In coordination with clients and their other advisors, Don monitors the steps required to implement the plan in a timely manner.

To get started on your integrated wealth management plan — and your peace of mind — contact Don by email at don@bydandwm.ca or by phone at 250-881-7600.

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