Q: What’s the process for getting started?
Step 1: Introductory Meeting
This is an informal meeting that gives us a chance to get to know each other. It often happens in a coffee shop but can also happen in your office or ours. My intention is for you to feel comfortable in knowing that we are a team that you may want to have further discussions with.
Step 2: Subsequent Meetings
This is where we further discuss details of your finances and what steps we can take to improve your plan for the future. We review specific financial planning solutions and strategies, ensuring you are fully aware of your options. Making the most-informed decision for your financial future is our goal.
Step 3: Formalize Relationship
This is when a decision is made to work together. Either in person or via email, we ensure the proper documentation is addressed with identification and signatures.
Step 4: Implement Game-plan
Once the administrative process of opening and transferring accounts is complete, we begin to implement the previously agreed upon solutions.
Step 5: Evolve and Update based on changes to financial markets, life changes, etc.
Changes to financial markets as well as life changes often dictate updates to your plan. Regularly reviewing and evolving your plan ensures having the best chance of success for the future.
Although there is a lot of work going on in the background, we make every effort to make this transition seamless and as convenient as possible for you.
Q: Who is your typical client?
A: Clients who are open and want financial guidance will benefit the most from the services we provide. We are best able to advise clients who consolidate their portfolio with one adviser; however, exceptions can be made for clients who intend to consolidate their entire portfolio in the future. We work well with clients who have a long term time horizon of at least 5 years, but preferably 10-30 years which is a typical time frame for retirees. We advise against focusing on short term performance fluctuations. Annual performance should never be extrapolated but will be addressed and utilized for portfolio re-balancing. Our preferred clients appreciate the importance of focusing on the “forest” and not the “trees”. Security selection often represents a small portion of a portfolio’s performance. Clients need to understand that in order to maximize their wealth, many different financial services and products (including life insurance and alternative investments) need to be considered. Our ideal client understands that we run a business with a team of staff members each handling different responsibilities, which allows us to best meet all our clients’ needs and provide the highest quality service.
Finally, and most important, clients who benefit most from LT Wealth Management Partners are those who can offer their trust and know their interests always come first!
Q: Is my money safe?
A: This is the most important question we receive. The Financial Services Industry is one of the most strictly regulated industries in Canada. We rigorously follow and often exceed industry standards. Your money is always invested “in trust” which means you and only you own it. We merely provide recommendations, help implement the strategy and then administer your account. Only you or those you legally designate can deposit or take money from your investment account regardless of your holdings. Your investment holdings are carefully matched to your own profile. Your account is then carefully monitored and reviewed with you on a regular basis. You can access your statement on-line anytime and will receive regular statements in the mail from Raymond James Ltd.
Q: How often will I hear from you?
A: How often would you like to hear from us? We will meet according to your preference and comfort level. There is no pre-established service formula you have to fit into. Some clients are quite active or have issues that require more contact. We may speak to them every other week, for example. Others prefer less frequent contact, meeting only once or twice a year to review their finances.
We will be in regular contact with you by phone and/or email and we send out quarterly newsletters via your preferred method of contact. Depending on what is going on in your life, or your business, or the capital markets at any given time, the amount of contact will vary over the span of our investment relationship. By keeping the lines of communication open, we can adjust the level of communication together.
Q: How is LT Wealth Management Partners compensated?
A: We charge a fee for the investment management services we provide. Our fees are based on a percentage of the investments you have entrusted us to manage. This places us in alignment with you and your interests to protect and grow your investments. Also included in our investment management fees are our wealth management services – added value for your money.
Q: How will my money be invested?
A: Your money will be invested according to your timeline, return expectations, risk tolerance, etc.
Q: What’s the minimum investment requirement?
A: Our services are designed for individuals with a minimum of $100,000 of investable assets but we are able to assist anyone provided they meet one core criteria – they are nice! We also work with individuals who have high incomes, complex financial needs and/or significant liquid net worth that merit integrated wealth management.