When I met Bill on a fishing trip, we were both in our 30s and I hadn’t been an advisor for long. Over the course of casting our lines into the water, we hit it off, and I started working with him right away.
At first, our relationship was very simple: he saved the money, and I invested it for him.
After a few years, the day arrived when Bill needed funding to become a partner in his firm; thanks to our careful planning, he had a healthy account to draw from in order to make that happen.
With his new position came more success, which led to Bill’s need for additional long-term investment strategies and tax planning. This is where the connections began to form.
In addition to considering Bill’s long-term goals and dreams, his financial plans had to accommodate the things that bring him joy—in other words, what he likes to spend his money on while he enjoys his lifestyle, his way.
Bill’s lifestyle includes taking care of his mum, Hannah—and so it made sense for me to work with her, as well. She wasn’t getting the service she needed from her bank, and I was happy to lend a hand. Hannah remains a client of mine to this day, and is going strong at 86.
However, Bill’s father-in-law, George, wasn’t as lucky. His health was declining, which meant that George had to move in with Bill and his wife, while they committed themselves to the process of finding him a suitable home, with adequate care.
As you can imagine, this process was emotional, as well as challenging. George would need to live on any income that could be garnered from the sale of his home; any other investments, along with his estate planning, had to be considered as well. George had accounts with various institutions that would need to be consolidated—and all of this had to happen quickly.
As always, Bill knew he could come to me.
I don’t remember how many fish we caught on that trip over 20 years ago. However, I know every nuance of Bill’s finances, I know his mother’s situation, and I know every detail involved with the administration of his father-in-law’s estate.
Just recently, Bill he said to me: “You do so much more than manage my investments…”
And he’s right. Acting on behalf of a client’s best interests is about connecting with the people behind the figures, which includes taking good care of all their loved ones, as well.
If you’d like to invest your time in connecting with an advisor who will do more than simply “manage” your finances, reach out to one of our advisors in Huntsville, Orillia, North Bay, Parry Sound or Powassan, today.
Wade Perkins, CFP® / Senior Financial Advisor
Spire Advisors of Assante Capital Management Ltd.
*The case study mentioned in this article is based on an actual scenario but names and identifying details have been changed to protect the privacy of individuals. The case study is provided for illustrative purposes only to provide an example of our process and methodology. Past performance does not guarantee future results. The results portrayed in this case study are not representative of all of our clients’ experiences. Different types of investments involve varying degrees of risk, and actual results may vary materially than those portrayed herein. Therefore, it should not be assumed that the future results of any specific investment or investment strategy (including the investments and/or investment strategies recommended or undertaken in this article) will be profitable or equal the results portrayed herein. An individual’s experience may vary based on his or her individual circumstances and current/future market conditions, and there can be no assurance that any client will achieve similar results in comparable situations. The information contained herein should not be construed as personalized investment advice. Please contact us for additional information with respect to the strategies and/or investments described herein.
*Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see a professional advisor for individual financial advice based on your personal circumstances.
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