Financial Planning

January 2020

The Manitoba Home Builders' Association is celebrating 75 years.

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SPECIAL SECTION A S U P P L E M E N T T O T H E W I N N I P E G F R E E P R E S S C10 BY JENNIFER MCFEE If you find a financial planner who's the right match for you, it can add up to a bright financial future. K elley Keehn, FP Canada consumer advocate, explains that the certified financial planner (CFP) designation is the gold standard in the industry. "In most provinces, anyone can say they're a financial planner, so you want to look for that CFP designation," she said. "There are so many titles, like financial advisor or wealth manager, but a certified financial planner is going to holistically look at every facet of your financial life — not just your investments but your goals, financial planning, retirement planning, tax strategy, pension and will." In January, FP Canada launched a new certification called qualified associate financial planner (QAFP). "This newer designation is suited for the average Canadian who maybe doesn't have a lot of assets yet. They maybe don't have complex estate planning or tax planning or retirement needs, so they have simpler questions," Keehn said. "A big complaint in Canada is that you need a lot of money to see a financial planner. This need is being filled with this newer designation, which is still very strong and very professional." Benefits abound when you work with a financial planner, who can help identify blind spots that you didn't even know existed. "They're going to help you find free money being left on the table such as tax deductions and government grants. They're going to help you simplify complex decisions like paying off your debt and saving for a mortgage," Keehn said. "They have the software, knowledge, skills and education that the average person just wouldn't have." When you're trying to choose a financial planner, Keehn recommends asking questions and getting the answers in writing. "Some questions could include how long have you been in business? What type of clients do you serve? Who regulates what you do? How do you charge and what do you charge for your services? Who's going to be looking after me — the financial planner or their assistant?" she said. "It's important to do your research to make sure that the person is legitimate and that they have a regulatory body overseeing what they do. Once you've determined they're legitimate, then it's important to make sure they're the right fit for you." FP Canada, the non-profit organization that certifies and enforces standards among financial planners in Canada, offers additional resources online at www. KELLEY KEEHN, FP CANADA CONSUMER ADVOCATE "In most provinces, anyone can say they're a financial planner, so you want to look for that CFP designation." - KELLEY KEEHN Rise Above the Usual Advice Is your financial advisor a member of Advocis, The Financial Advisors Association of Canada? Financial Planning 2.50% smarter savings S O ME TIME S , THE S M A R TE S T D ECI S I O N S A R E THE S IMPLE S T O NE S . LIK E E A R NIN G M O R E O N YO UR D EPO S IT S WITH O UR HI GH INTER E S T S AV IN G S ACCO UNT S , S TA R TIN G AT 2 . 5 0 % .* See how much more you can save. Compare your rate at *Rate subject to change. Save smarter, not harder. HOW TO CHOOSE A FINANCIAL PLANNER SATURDAY, JANUARY 25, 2020 View online at BESTSELLING AUTHOR KELLEY KEEHN SHARES TIPS ON HOW TO SAVE AND SPEND WISELY IN HER NEW BOOK, TALK MONEY TO ME.

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