From Investopedia: “A financial plan is a document detailing a person’s current money situation and long-term monetary goals, as well as strategies to achieve them”.
Financial planning is a way to write down your goals and create a path towards them. For example, if you want to retire with $1 million in 25 years, you’ll need to figure out what amount of money you need to save per month, given a rate of return and inflation. The math behind this can get complex and it’s not as simple as $1 million divided by 25 years.
Working with a professional who understand the financial system could help you get there a little faster, with less stress.
The financial system can be complex and confusing. Working with a professional who explains things in plain language can help you get to your goals faster and with a deeper understanding of the reasons why. An advisor can help you avoid unnecessary risk, unnecessary tax loss, achieve better returns and avoid complex legal processes if your paperwork was not set up correctly.
Many goals are a multi step process over several years. There are subtle nuances to money management, most of which the general public don’t know about. Why work harder when you could work smarter?
For example, if you are saving for a downpayment, you might open an FHSA to get a tax refund, then reinvest the refund back into the FHSA to continue the cycle. This lowers your total tax liability (keep your money). If you just saved cash in a savings account, you would be losing money unnecessarily to taxes for the same goal!
In other words, if your kitchen sink started spraying water everywhere, do you want to DIY it or hire a licensed plumber?
We are proud to serve everyone at all economic levels, from just starting out to deca-millionaires.
We do not have a fixed dollar amount to work with us, we are investing our time in you and your potential. This means each client is unique and will be considered on a case by case basis.
Sometimes, we are not able to open investment accounts for you under our management. In these circumstances, we will still commit to working with you through the gift of our time. We will be transparent with you through the process and be there to support you in a way that makes sense for both of us.
Village Financial is an independent financial services firm.
We are under contract with the Canada Life Assurance Company and Quadrus Investments. This means that your investment accounts will be held at Quadrus Investments and managed directly by us (we need a financial institution to hold your RRSP).
We are independent investment advisors. We offer investments from all financial institutions without bias. We are not compensated based on who we invest with, nor do we have any proprietary products.
This approach rewards the financial institutions who produce exceptional results and removes bias and conflicts of interest from our investment advice.
For example, your bank will only invest your money in their own mutual funds, even if their competitor has something performing 5x better.
Village Financial is a registered financial services firm in the province of Ontario. You can see our licence by clicking here.
Amandeep Banwait is a registered life and accident & sickness agent in Ontario. Click here to view his license.
Amandeep Banwait is a registered dealing representative (mutual funds) in Ontario, click here to search him on the National Registration Database.
Given your situation, it may be advantageous to change where you’re getting your income from. For example, we might advise selling a rental property and using the proceeds to build a stock and bond portfolio. Or, drawing down your TFSA before taking extra from your RRIF.
Our goal is to manage your accounts to stabilize your income and provide financial security for the rest of your life.
Estate planning can be complex (your kids don’t just “get the cottage” after you die). If you have non-registered money, second or third real estate properties or a business, these things cannot pass down automatically and the tax burden on your estate can be extremely high. In some cases, your estate could be double taxed!
Getting advice now can help you keep more of your money today and after your gone.
Village Financial offers mutual funds from all the major financial institutions.
We also offer segregated funds on a case by case basis (usually for estate planning needs, risk averse investors or investors with significant non-registered money).
Village Financial offers life and accident & sickness insurance. These include term life, permanent life, critical illness and disability products. We do not offer auto, home or commercial insurance.
We will take care of all account transfers.
Usually it’s as simple as signing the required paperwork. We will fax, email and call the institutions to facilitate your transfer. We will follow up with them on your behalf and keep you informed on the status.
In some rare situations, we may ask for your help in speeding up transfers. We’ll communicate with you if this is ever necessary.
We do not want to step on anyone’s toes and respect that you may have a trusted advisor already. If you are happy with your current situation and results, it’s likely not the best time to switch advisors.
We can only provide investment advice on things that we see, this means money that is directly managed by us. In order to give you our full service, we ask for your trust and commitment in allowing us to manage your entire portfolio.
In some complex scenarios, it might be appropriate to have a portion of your assets managed by someone else. This would be a unique situation and we would discuss this on a case by case basis.
We have a contract with Quadrus Investment Services, an institutional mutual fund dealer. Your investment accounts will be at Quadrus and you will receive an online profile to check your investments 24/7. You can also receive statements by mail, if you prefer.
Village Financial is strictly committed to your personal and data privacy.
Your entire client file and all conversations had with us is held in the strictest confidence. We will not release any details about you (including your identity) to anyone outside of our organization or the institutions you chose to work with.
Some of our current data privacy policies:
If there is something more we can do to protect your personal or data privacy, please let us know.
We only earn an income if you invest money with us or purchase an insurance policy. We do not charge planning fees or meeting fees, we do not charge an hourly rate for any of our services.
Our standard annual fee for investments is 0.90%, which is lower than the industry average of 1.02% per $1 million. This is deducted from your investment accounts automatically and will appear on your statements. In some cases, advisory fees are tax deductible, please ask your CPA if this applies to you.
Clients investing over $1 million with us will have a negotiated fee structure.
We also earn commissions on any insurance products we sell. If you purchase a policy, the insurance company pays us a commission for selling it. You do not pay us any commission for these products.
We do not charge any front-end loads, back-end loads, trading fees, transfer fees or any other “junk fees” that would erode your finances.
Village Financial does not charge any fees to deposit money, transfer accounts, sell your investments or rebalance your portfolios.
We do not believe in charging junk fees and are not here to take advantage of your hard earned money.
You might incur fees from your financial institution to sell your investment accounts in order to bring it to us. We will look over your statements in detail to determine any potential fees. We will advise whether or not it makes economic sense to do so, we don’t want you losing your money arbitrarily. It still may make sense to eat the loss and move the money, if your investment is performing very poorly.
Village Financial is located at First Canadian Place, in Toronto’s Financial District.
100 King St W, Suite 5700, Toronto, ON, M5X 1C7
We serve clients and businesses in the entire province of Ontario. Whether you live in Toronto or Sudbury, we’re here to help you.
Click here to book an appointment or:
Email Aman directly: aman@villagefinancialtoronto.ca
Text or WhatsApp: 647-612-8856
