Blog
What Do Financial Advisors Do?
It is fairly common knowledge that a financial advisor’s job is to help their clients manage their money. However, there is more to it than that. What do financial advisors do? Financial advisors help their clients establish and manage their financial portfolios...
How Are Financial Advisors Paid?
Have you ever wondered how a financial advisor gets paid? There are two main methods: fees for services and built-in commissions. Fees for Service In the fees for service method, an advisor might charge a fee by the hour. Built-In Commission A built-in commission...
Why Teach Children Money?
It is a great idea to start teaching your children good financial habits early. Starting young can provide your children with the necessary tools to approach finances responsibly. This could lead to less stress and overwhelm in the future and develop their potential...
Why Are Financial Reviews Important?
Why are financial reviews important? Financial reviews keep the flow of communication between you and your financial advisor. Financial reviews are important to: Update changes to your account and policy informationAdvise you of new products and services that may...
Wills – Next Steps
All right, so you decided to write a will. What a great decision! Nevertheless, you find yourself wondering what to do next. Wonder no longer, here are the next pieces of the puzzle. Designate an Executor An executor facilitates the settlement of an estate. It is his...
Why You Need a Will
Creating a will can feel like walking through a corn maze without a map. There are so many paths, and you do not want to take the wrong one or leave anything behind. Common reasons why people avoid writing a will: I cannot afford a willI do not have the timeI will do...
Life Insurance Awareness Month 2020
It is Life Insurance Awareness Month! Life Insurance is a tax-free lump-sum paid to a designated beneficiary after a person dies. This much, most people know. There are two main types of Life Insurance: *Depends on the type of Whole Life Insurance. Life Insurance is...
Is Your Spousal Coverage Enough?
At Simplified Financial, we often hear this: I don't need insurance. I'm covered under my spouse's plan.--- Common Client Response Many people believe that having coverage under one spouse is enough. However, standard group plans do not always include important...
CERB 2020 Taxation
Many Canadians are concerned about the tax implications of taking CERB. Here is some information on what you can expect so you can prepare early for the 2020 income tax year. Determine your total potential income for 2020, including the CERB amount. Equation: Total $...
Creditor vs. Personal Insurance
Insurance is a great way to foster peace-of-mind, but not all insurance products are equal. Creditor Insurance: Creditor insurance often requires little information up-front. While this may seem like an advantage at first, it increases the chances of a lender...