The TK Advisor -TK Financial Group Ottawa Blog about Life Insurance, Critical Illness Insurance, Wealth Management and Estate Planning

Financial pieces are falling apart under peoples feet !

Yesterday while in a discovery meeting with a potential new client we discovered a mess in these areas : shareholder agreement , life insurance , critical illness insurance , no trust when it makes financial sense .... This is all too often a common event in meetings we attend with new potential clients . All we ask is to meet a business owner , professional or a corporate client for which they get a huge return . I am no longer amazed because what we see happens on a weekly basis . A series of financial decisions made one at a time which end up with disastrous results . When people ask what we do I now tell them " we put the puzzle pieces together to form a beautiful picture for those we work with " . Should you want to check our web as to what people say about us here it is www.tkfg.ca ! Should you not be calling us ?

Working with true professional advisors !

My great joy is working with my clients in a team environment with professional advisers that understand who we are all serving , the client ! There are so many good and caring professionals that provide exceptional value to our clients . Being proactive rather then reactive is what I look for in a adviser . I look for someone who is good at what they do but they do not let the ego rule their behaviour . I look for advisers that are passionate and love to serve . I put advisory teams for my clients together and with exceptional results . Look at the testimonials and clients say it the way it is , www.tkfg.ca .

Professional advisors : insurance , investments , legal , accounting ,banking

So many of us get into a business because we believe we can deliver better value and control our destiny by being self employed .Often business owners as well as professionals forget the big picture planning as they focus on generating revenue . I also find that too many people acquire services on a stand alone basis with very little coordinated planning and often they do not know where to turn for obtaining professional advice . In order for you to gain maximum value , your advisors need to work as a team with sole purpose of taking care of you . At TK Financial we put the pieces together as your quarterback by bringing your advisors into a team and you gain maximum value . While I am licensed to sell financial services this does not define what I actually do . When you want to eliminate risk and want nothing left to chance give us a call .

Life insurance should be planned not simply bought !

Last time you acquired a life insurance policy was there a strategic plan or simply you bought a life policy in the amount someone told you you should have ? Often people will say I want a policy for x amount of insurance and I ask them why do they need it which gets them to give me a surprised look as I am in the life insurance business . I focus on completing a needs analysis as needs are different as are our DNA ! WE WILL PROVIDE YOU WITH COMPLIMENTARY INSURANCE AUDIT , ESTATE PLAN REVIEW AND A REPORT WHICH WILL EXAMINE A NUMBER OF PLANNING OPPORTUNITIES WHICH EXTEND BEYOND YOUR EXISTING LIFE INSURANCE CONTRACTS . You may be paying too much for exact same coverage available from one of the 12 insurers we work with on a regular basis . If you are looking for a simple life insurance sale without a plan we can give you names of individuals that will gladly sell you a product .

If you knew that you have a 80 % chance of getting a payout on a lottery ticket what would you do ?

Between age 30 and 65 one in five will pay out money to the holder of this paper ! In a lifetime , 80 percent of this paper will pay a benefit to the holder ! What is this vehicle that pays out a lump sum benefit to the beneficiary ? Critical Illness insurance is designed for the living . People are surviving critical illnesses but their financial well being is sometimes devastated . Would you be affected if you were stricken by a critical illness ? So you say no one in your family or someone you know has had a heart attack ? cancer ? stroke ? ms ? Do yourself a favor and review your plan and make sure nothing is left to chance .

Are all your professional advisors working as a team ?

Here is a approach that I think needs to be utilized in planning your affairs . When was the last time you had all your professional advisers in one meeting to jointly work on taking care of you ? I would bet that 8 out of 10 people will say never . I ask why ? Too many decisions are made in isolation and t5his is why all the parts are not smoothly working together with your plan . I meet business people every week for working on their estate plan and when I ask the question about having advisers in joint meetings all too often answer is never been done . We will help you to create a financial structure by bringing in your other professional advisers and introduce new ones when required . What do you gain ? You will be able to sleep at night knowing your affairs are in order and nothing has been missed !

Health Care !

Why is our health care system broken ? Are you financially prepared to pay out of pocket to get health care ? People who get superior health care live longer , average women past 90 ! Retirement projections are made by financial planners based on available assets , what happens to those projections if you get bone marrow transplant in US at cost of 450 k ? Critical Illness and Long Term care are fabulous products to : potentially extend your life , protect your investments and give you a better quality of life . Are you prepared ?

Estate Planning and Insurance Planning !

I just returned from STEP , Society of Trust and Estate Practitioners , and expanded my knowledge base on Trusts , Wills , Insurance Planning and CRA representatives shed light on how they view certain planning which some undertake . I will continue to focus on planning which will allow my clients to take advantage of planning opportunities which are sound and be able to sleep at night knowing their affairs are in order . US tax specialist had shed light on how US citizens have to be careful to know their obligations and how their Revenue department treats those that do not follow their rules regardless wherever these people reside . When planning use a specialist as it is the most cost effective solution !

Life insurance planning is not a simple task !

Insurance is a complex product often sold and not planned out . How much monthly income and for how long do you want to leave your family ? Do you want to leave a education fund for spouse and or children ? Do you want to leave funds to take care of elderly parents or siblings ? Do you want to leave money to a charity ? Do you want to discharge loans on :death ?disability ? Critical illness ? Insurance policies are at times complex vehicles so take time to understand what is or is not covered . Life insurance ,do not buy it if you have nobody to love !

Planning can save you a lot of money and simplify your life !

I had a pleasure to reconnect with a client that had moved away from Ottawa and now is back in the region . Client is a owner of four businesses and real estate property . He had talked to his accountant from the city where he was living about winding down and merging companies to save money on filing fees accountant had to complete each year for him . My initial meeting started off as a insurance review and evolved to estate planning (reorganization , trust , wills , power of attorney ....  ) .Our next meeting will be with a lawyer and a accountant to reorganize the affairs and create tax saving strategies , build a safety net for him as well as allow him to leave a legacy for his family . Planning is always the key but often overlooked by advisers who are task oriented and not solutions focused !