“Financial planning is more than budgeting, saving or the perfect investment strategy. It sets you on a course toward achieving your life goals through the proper management of your financial affairs. Canadians who engage in financial planning report significantly higher levels of financial and emotional well-being than those who don’t.” The Financial Planning Standards Council
Many People offering financial services call themselves Financial Planners. However, financial planning is a detailed and complicated process. It requires hands on experience and a strong technical understanding of topics such as personal tax planning, insurance, investments, retirement planning and estate planning. A recommendation in one area, will impact another area.
When working with a financial planner ask what their qualifications are to offer financial advice, and if in fact they are a qualified financial planner. Ask what training they have successfully completed. Ask what steps they are taking to stay current with changes and developments in the financial planning field. Ask whether they hold any professional designations, including the Certified Financial Planner (CFP) designation, which is recognized as the hallmark of the competent, ethical financial planner.
Dwayne’s Designations – What do they mean?
Certified Financial Planner, CFP
The Certified Financial Planner (CFP) designation is an internationally recognized standard for financial planning. It is granted by the Financial Planners Standards Council (FPSC). An advisor with a CFP may help you with personal financial planning and offer advice on investment products and strategies. An advisor with a CFP must adhere to a strict code of ethics and complete 30 hours of continuing education each year in order to renew their license.
Chartered Life Underwriter, CLU
The Chartered Life Underwriter (CLU) is a professional financial advisor specializing in developing effective solutions for individuals, business owners and professionals in the areas of income replacement, risk management, estate planning, and wealth transfer. For more than 80 years, the CLU designation has been widely recognized as a mark of excellence in the industry.
Chartered Financial Consultant, CH.F.C.
A Chartered Financial Consultant (CH.F.C.) is a financial advisor with advanced knowledge in wealth accumulation and retirement planning. An advisor with a CH.F.C. is an expert in retirement planning and capital accumulation strategies. A Chartered Financial Consultant must approach the financial planning process from a consultative basis.
Chartered Financial Divorce Specialist, CFDS
A Chartered Financial Divorce Specialist has the expertise to provide a professional financial analysis for future lifestyle considerations. The traditional method of equal division of assets is often unsatisfactory in its outcome. An after-tax financial scenario displays the consequences of one’s decision, which is invaluable. A CFDS is skilled in illustrating options for different financial situations with projections from a minimum 15 years through to retirement and beyond.
Certified Health Insurance Specialist, CHS
A Certified Health Insurance Specialist (CHS) is a professional financial advisor specializing in living benefits, including income replacement and risk management solutions for individuals, business owners and professionals.
Life Coach – Strategic Intervention
Successful completion of the Core 100 Training Program provides a life coaching education that is not available anywhere else in the world. Students learn how to work with any client and help them achieve greater happiness, success, and better relationships. The RMT Core 100 Training contains four Mastery Units which focus on Mega Strategies, Navigating Life Stages, Personal Transformation, and Key Decisions. A Certificate of Completion is awarded upon completion of 100 hours of training as a Life Coach by the Robbins-Madanes Training Center.