Ensuring you are protected from a risk management perspective means making sure that all your financial risks are minimized or eliminated in the event of death, disability or a critical illness. We work with you to determine if you have any gaps in your risk management portfolio and use strategies and tools to develop a portfolio that covers these risks. We believe that having a properly structured life, disability and critical illness insurance program provides you with confidence in the rest of your planning. Knowing that you have an asset that will provide immediate tax-free cash for yourself or your beneficiaries, allows you the peace of mind to focus on what you do best.
Planning for the future from a wealth management perspective means properly managing your registered and non-registered assets in order to meet your income objectives over the short, medium and long term. We believe that there are only two possible financial outcomes – the money outlasting the investor or the investor outliving the money. The former provides the investor with dignity and the ability to significantly impact the financial lives of those they love. In order to ensure that the money outlasts the investor, we first set and quantify a goal, then we develop a plan which at historical returns would realize the goal and then fund the plan using an appropriate portfolio.
There are two fundamental truths in order to create significant long-term wealth:
- It is time in the market, not timing the market
- That all equity market declines are temporary and eventually give way to the resumption of the permanent advance
In order to capitalize on these truths, we create a properly diversified portfolio which aligns with your attitude towards your money and risk profile.
Elite Diagnostic Imaging Service
Obtain an MRI or CT scan in days not months to help you and your health management team to determine what course of treatment is best for you.
Health Spending Account
If you are an employer or have a holding company, consider setting up a HSA to deduct 100% of the cost of most regular health, dental and vision costs.
PlanDirect Health Benefits
If you are self-employed, or recently retired and want to have access to benefits to cover you for health, dental and travel coverage consider PlanDirect from Canada Life.
Frequently Asked Questions
The typical way most clients play their premiums are either monthly or annually. If monthly, the premium is set to come out of your bank account on a set day each month. If annually, you will be sent an invoice from the insurance company or provider approximately 2 weeks before the premium is due.
Most people have some benefits provided through their employer, however the amounts are typically limited and are not portable. If you change your employer you may not be able to take them with you and your new employer may have different or no benefits at all.
Under normal circumstances the underwriting process usually takes 3 – 5 weeks. Additionally, the cost of any tests or reports requested are paid for by the insurance company that is doing the underwriting.
If you have had COVID and have recovered, you can apply for coverage. Depending on your recovery status or if you have any lingering effects, this will determine the underwriting outcome issuance of the coverage.
Because the coverage has been fully underwritten, and assuming the insurance carrier accepts the risk and issues a policy, then there will be no issues at time of claim.
This is the power of many, through our supplier Teledoc, they have many clients across Canada which results in purchasing power with companies that provide MRI and CT Scans this results in being able to sell the annual membership for a significant cost savings to our clients.
The more information the better we are able to provide you with advice. However with that said, you will only need to bring what your advisor has requested or that you feel comfortable in sharing.
Typically this would be your name, address, contact information, social insurance number, copies of any existing plans or programs.
Depending on the complexity and the information you were able to provide us (see question above), but we can typically have everything set up for you in two to three meetings either in person or over ZOOM / TEAMs.
There are many options available to you with an existing program from your employer. If you bring the information package with you to your meeting, your advisor will be able to walk you through the different options and determine which best for you.
We find that consolidating your assets tends to be a good option as most clients find it easier to understand what they have and how this all works towards a plan form them. It also allows for lower pricing for your assets under management.
At Synergy Financial Group, we provide the advisory and portfolio allocation for all types of accounts. Quadrus Investment Services is the dealer we use and they provide the administration, custodial and compliance for the portfolio managers or investment companies we recommend.
We can set up the following types of accounts:
- Registered accounts – RRSP / TFSA / RESP / RDSP
- Non-registered accounts – OPEN / Trust / Corporate
Yes, our dealer Quadrus Investment Services has the option for you to have online access to view your accounts and perform limited transactions.