Little & Davies uses the six-step planning model:
- Establish the Client/Planner relationship.
- Gather data and determine the client’s goals and expectations.
- Clarify the client’s present financial status and identify problems or opportunities.
- Develop and present the financial plan.
- Implement the financial plan.
- Review and monitor the financial plan.
Our detailed analysis and unbiased financial advice gives us the competitive advantage to manage your investments the way you want us to.
You’ll meet with qualified and dedicated planners whose objective is to provide you with the highest standard of service.
Based on your financial objectives and risk tolerances, we will identify your short and long term goals, risk tolerance, tax considerations and investment preferences; and work with you to create a unique financial strategy. As your income needs, tax situation, legal constraints and preferences change over time, our planners ensure that your financial plan consistently reflects those changes.
We are not a financial institution. We are not tied to any single bank, trust, insurance or investment company and therefore, there is never a hidden agenda. We simply recommend the best solutions based on what our clients need.
We typically do not charge clients for financial planning services, although this can be arranged (see below regarding fee-for-service financial planning). We are compensated by the financial institution (insurance company or investment fund company) through commissions and trailing fees, which vary depending on the type of investment or insurance.
If you choose to invest in mutual or segregated funds with us as a result of the recommendations made to implement a financial plan, the investment company will pay us monthly trailing fees which are based on the value of your investment. Trailer fees will continue for as long as the fund is in your portfolio. In addition, there may be a commission (also known as sales charge or load) which is transaction based when you buy or sell units/shares of an investment fund. New purchases can be invested with a front-end sales charge, back-end sales charge, low-load sales charge, or no sales charge structure. Sales charges will be discussed in detail with you prior to any final decision being made.
An alternate compensation arrangement for mutual fund investments is to set up a fee-based account. With fee-based accounts, you pay a fixed annual fee for service and advice that we negotiate in advance of investing your money. This is expressed as an annual percentage and is not transaction based, which means that there are no sales charges when you buy or sell funds.
Fee-for-service financial planning is available, where an hourly fee is charged for the preparation of a written report. This compensation model is available for clients who are not purchasing investment or insurance products through our firm.
If you purchase an insurance policy through one of our advisors, the insurance company compensates us with a commission once the policy has been issued and is in-force. The insurance company will also pay our firm a small servicing fee as long as the policy remains active.
What You Can Expect
You can expect that we will consistently and responsibly perform all services related to the provision, review and ongoing monitoring of the financial planning solutions we implement on your behalf.
We will always:
- Strive to acquire and maintain a thorough understanding of your financial goals.
- Update your current financial information on a regular basis.
- Carefully assess and monitor your investment risk and time frame.
- Explain the implications of all recommended financial planning strategies and gladly answer any questions you may have.
- Provide updates as and when appropriate by email, mail and phone.
- Meet with you regularly to review your plan and what matters most to you.
- Act as your primary Financial Advisor, coordinating the efforts of other related professionals as and when required.
- Treat you with utmost respect and professionalism.
What We Ask
We’ve learned through experience that effective communication and mutual respect are essential to a long-term partnership. A few other criteria which help define our success include:
- Your commitment to me as your Financial Advisor.
- Your trust in my abilities to provide you with recommendations and advice.
- Your complete disclosure about what matters most to you.
We need you to know that our recommendations are always based on helping you achieve your financial and lifestyle goals. It is important for you to understand that all investment, tax, estate and insurance advice will be based on the information you provide to us. Therefore, in order for us to offer recommendations and advice best suited to you, we need you to fully participate in the financial planning process with us.
Having a solid partnership is essential to effective financial planning. To this end, we both need to make your financial strategies a priority. We will agree to keep each other informed of any new developments that might affect these strategies. And we will agree to take the time to regularly review your portfolio.
We will always work together in the spirit of mutual trust, respect, and understanding.