In an industry dominated by commissioned sales people whose focus is on product sales, professional unbiased financial planning advice is hard to come by. In fact affordable professional comprehensive planning is usually limited to those with investable financial assets of at least $500,000. At K.P. Power Financial Planners we make our services available to all Albertans who have a desire to take control of their financial future. Our typical clients are individuals and families who:
- Are able to articulate their hopes for the future.
- Are proactive and accept responsibility for the results they achieve in life.
- Are looking for insightful advice and guidance and are willing to take meaningful action in order to obtain the results they desire.
- Do not have the financial literacy and/or the time and interest to research all the choices available to them when faced with the critical financial decisions they encounter throughout their lives. They recognize the value of, and are comfortable paying for, professional advice.
- Have a long-term perspective and want a long-term relationship.
- Have sufficient cash flow to direct toward their financial goals; or through proper planning and are able to restructure their financial affairs to free up cash flow to direct toward their financial goals.
- Are open-minded and curious - eager to learn new things.
- Will introduce us to other people or organizations we may be able to help.
While not all-inclusive, individuals/couples that are benefiting from our services will have many of the above attributes and fall with-in one of the following broad categories.
Individual/couple, late 20’s to early 30’s. Family income $80,000+. Wants to purchase, or has recently purchased, a home. Have young children or looking to start a family. May have too much “bad debt” used for vehicles, home furnishings, and children needs. Knows they would benefit from a financial plan but doesn’t know where to go for help in developing a financial plan.
Couple early 40’s to early 60’s. Family income over $150,000. Has sufficient cash flow to direct toward financial goals. Have little “bad debt”. Have started saving for retirement and children’s education. Have an advisor providing investment advice, yet don’t have an overall financial plan and are worried they are not going to achieve their financial goals.
Converting Wealth to Income
Individual/Couple 55+. Family income over $150,000. Has generated wealth for retirement (pension plan, RRSP’s, other investments). Is preparing to retire or has recently retired. Not sure how to convert their assets into tax efficient income during retirement. They are worried about market volatility and if markets collapse again like they did in 2008 they are worried it will have a major impact on their retirement plans.