Rogers Group Financial is committed to helping you achieve your financial and lifestyle goals through a planning-based approach. Our 6-step planning process offers customized solutions to your objectives with regular monitoring of your financial holdings.
Step 1: Creating a profile
We’re more than investment advisors. Just as a doctor performs a complete physical to determine your overall health, we want to know your complete financial picture. So we gather all the facts to create a detailed profile of your financial position. We want to get as much data as possible. The more we know, the better advice we give.
Step 2: Clarifying Goals and Objectives
Because each client’s financial situation is different, we want to know what is important to you. Clients in the same demographic (similar age, amount of assets, debt) might have completely different financial plans as their goals could vary significantly. So we spend the time to identify and help you articulate your unique financial concerns, goals and objectives.
Step 3: Analysis
Once we have completed a detailed analysis of your situation, we begin analyzing your financial position. We run illustrations of all your assets and liabilities to give you a global view of your position – we can’t look at your investment assets in isolation. This lets you know what needs to be done to meet your objectives.
If you are in the accumulation phase, we run wealth accumulation illustrations that give a clear idea of when you can retire. If you are retired or close to retirement, we prepare a detailed retirement income illustration. This lets you know how much income can be generated from pension assets (such as OAS, CPP, company pensions) and investment assets for the remainder of your lifetime.
Step 4: Financial Plan
Once we have become acquainted with you and your situation, we then prepare a written plan or “road map” to guide you in achieving your objectives. This plan takes a snapshot of your situation and gives recommendations on how to meet your financial goals and objectives. This step is the cornerstone of our relationship and what drives our advice and recommendations. It will ensure that you know what you need to do, and will point you in the right direction.
Step 5: Independent Implementation
When it comes to implementing your financial plan, you must have all the tools required to carry it out. We are fully licensed to implement most aspects of your financial plan, unlike professionals who specialize in only one area of financial planning. Consulting a stockbroker means having only stocks, bonds and mutual funds in your portfolio. A life insurance agent will only use insurance products in your plan. A mutual fund representative will fill your portfolio with mutual funds, and your local bank will use only in-house products for your financial plan.
The best plan implements a combination of the above products. We are fully licensed to sell stocks, bonds, GICs, mutual funds, life insurance, long-term care and critical illness insurance, as well as segregated funds, pooled funds, variable annuities, high-yield savings accounts, limited partnerships, and hedge funds. We will also need to work with your accountant and lawyer to implement your financial plan. If you don’t currently have an accountant or lawyer, we will be happy to refer you to one.
Step 6: Monitoring and Reporting
A financial plan is a snapshot in time. It lets you know if you are heading in the right direction. Life is unpredictable, so the success of your financial plan lies in the monitoring of the plan. Your strategy must be continually revisited to ensure it not only matches your current situation, but is still accomplishing your goals and objectives.
To this end, we provide you with annual (or more frequent) financial reviews and regular consolidated reports of your financial position. We continue to review and update steps 1 through 5 to ensure that your financial plan is still pointing you in the right direction.