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Discussion Starter · #1 ·
Greetings,

I am looking to replace my fee-based financial advisor/planner with a fee-only one.

My current situation is that me and my wife are retired and living off our OAS and QPP pensions as well as our savings from our RRIFs and LIFs. Not all my money is with my current financial advisor. For the money I control I follow the couch potato portfolio. I am looking for someone who can give me a second opinion of my current portfolio , make recommendations without trying to sell me investments and be there as a guide for my wife upon my demise.

I have come across a website Top 10 Best Financial Advisors in Montréal & Ottawa, Canada | 2019 Ranking – AdvisoryHQ which has a list of the top advisors in Montreal and Ottawa. I could find no other site to help me on my search.

I was wondering if anyone has an opinion on this website and whether they have any experience with any of the advisors recommended there or have their own recommendations? I would strongly preferably to go with someone living in Montreal.

Thank you
 

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Just buy an all-in-one ETF

Picking some random "advisor" from a top ten list online is not likely to net anything above their fees.

Maybe consider a robo-advisor such as wealthsimple.
 

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Discussion Starter · #3 ·
Just buy an all-in-one ETF

Picking some random "advisor" from a top ten list online is not likely to net anything above their fees.

Maybe consider a robo-advisor such as wealthsimple.
Not interested in a robo-advisor. I would like to get a second opinion on what I have and some advice.
 

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If you are simply looking for advice on your current portfolio, I don't think you'll get much out of any financial planner. Everyone has their own strategy - all good as long as you agree with them.

I think you will gain more by doing your own research and drawing a conclusion that you understand. You already researched Couch Potato so you should stick with that strategy. Everyone's strategy will be to diversify and keep up with the market. ETFs and Couch Potato do exactly that. No advisor has a magic formula to beat the market.

If you are looking more for a tax management strategy, life insurance and succession planning, then you may need to seek a wealth manager.....but I would imagine you'll have to become their client and hand over everything.
 

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Discussion Starter · #6 ·
You may want to consult this Fee Only Planners and Coaches Directory for a few starting points. It is never a bad idea to get second opinions.
Thanks for the list. I see a number of people from Montreal. I will do some research on them. I was sort of hoping maybe someone on the Forum actually had a recommendation but it looks like most people are DIYers.
 

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Since you are retired, I am assuming your main reason for engaging a fee only planner is for estate planning? Or maybe more tax efficient depletion of your portfolio, e.g. accelerated RRIF withdrawal while keeping your TFSA intact (and growing) for late life use?

If you are concerned about how little, or how much, you can deplete your portfolio, consider the VPW Table for the asset allocation of your choice as being the 'ceiling' rates of withdrawal for a die broke at 100 scenario, or decrease factors by a small amount, .e.g. 0.5% to leave residual at the end for legacy/beneficiary purposes. It is really that simple.

I am 15 years into retirement and find the table's factors highly useful for guidance.
 

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Discussion Starter · #8 ·
Since you are retired, I am assuming your main reason for engaging a fee only planner is for estate planning? Or maybe more tax efficient depletion of your portfolio, e.g. accelerated RRIF withdrawal while keeping your TFSA intact (and growing) for late life use?

If you are concerned about how little, or how much, you can deplete your portfolio, consider the VPW Table for the asset allocation of your choice as being the 'ceiling' rates of withdrawal for a die broke at 100 scenario, or decrease factors by a small amount, .e.g. 0.5% to leave residual at the end for legacy/beneficiary purposes. It is really that simple.

I am 15 years into retirement and find the table's factors highly useful for guidance.
No, I am not looking at a fee only planner for estate purposes. My wife would like someone that she can go to in case of my demise and also get the "seal of approval" for the possible coming change to our portfolio (Basically cashing out our Fidelity funds and investing all in the Couch Potato Portfolio). With regards to the VPW currently I am just using the minimum RRIF withdrawal amount (right now - 4.167%) as my guide. My wife is a bit concerned about long term care. Her mother who just died at the end of August had caregivers the last year and a half of her life and she imagines the worst for her. Anyways hopefully when travel is possible/safer we can spend some of the money we have saved (and inherited). Thanks.
 

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Come to think of it..... based on our conversation in the other thread, the PWL offices in Montreal or Ottawa might be a good place to check out Financial Planning services...... They just might fit what you are looking for.
 

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I have been thinking pretty much the same thing for similar reasons. One approach I thought might be useful would be to look at the contributors to The Canadian Money Saver magazine. It seems to be an honest and knowledgeable source of information. Of course you will still have to check it out yourself. One interesting name that I came across from Montréal is the following:


Caroline Nalbantoglu
Caroline is president of CNal Financial Planning a fee-only financial planning firm which helps clients gain a global perspective of their financial situation. At CNAL Financial Planning they pride themselves on taking an objective view of their clients’ financial situations.
The key to Caroline's success is her ability to understand and respond to her clients' needs by formulating complete action plans which enable them to attain their financial goals.
Caroline brought to her former employer, PWL Capital, 20+ years' experience providing sound financial advice in the wealth management industry.
Prior to joining PWL Caroline enjoyed seventeen highly successful years with a fee-only financial planning firm where she held various positions, preceding her nomination as Vice-President. A member of the Professional Chartered Administrator Association (C Admin, FP) and the Institute of Advanced Financial Planners (RFP), Caroline is well known in the financial media for her ongoing contributions to the Gazette, The Globe & Mail, L'Actualite and Canadian MoneySaver, and throughout the Montreal corporate community.
Caroline also holds a B Admin from Concordia University and is a Certified Financial Planner (CFP). She is a member of the Chartered Administrators of Quebec. She holds the following designations: F Pl, RFP and CFP.
Caroline Nalbantoglu, CFP, RFP
President
CNal Financial Planning Inc.
Montreal QC
514-798-4895 x301


Articles
Retirement Planning 101 (Download)

"Protecting Your Pension" (Download)

"Will I Be Able to Retire?" (Download)

"Financial Planning with an Inheritance" (Download)

"The Complexities of Estate Planning (Part 2)"(Download)

"The Complexities of Estate Planning (Part 1)"(Download)

"Income Splitting " (Download)

"The Pitfalls of Asset Allocation" (Download)

"Fine Tuning a Retirement Portfolio" (Download)

All the best
Bob
 

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Discussion Starter · #11 ·
I have been thinking pretty much the same thing for similar reasons. One approach I thought might be useful would be to look at the contributors to The Canadian Money Saver magazine. It seems to be an honest and knowledgeable source of information. Of course you will still have to check it out yourself. One interesting name that I came across from Montréal is the following:


Caroline Nalbantoglu
Caroline is president of CNal Financial Planning a fee-only financial planning firm which helps clients gain a global perspective of their financial situation. At CNAL Financial Planning they pride themselves on taking an objective view of their clients’ financial situations.
The key to Caroline's success is her ability to understand and respond to her clients' needs by formulating complete action plans which enable them to attain their financial goals.
Caroline brought to her former employer, PWL Capital, 20+ years' experience providing sound financial advice in the wealth management industry.
Prior to joining PWL Caroline enjoyed seventeen highly successful years with a fee-only financial planning firm where she held various positions, preceding her nomination as Vice-President. A member of the Professional Chartered Administrator Association (C Admin, FP) and the Institute of Advanced Financial Planners (RFP), Caroline is well known in the financial media for her ongoing contributions to the Gazette, The Globe & Mail, L'Actualite and Canadian MoneySaver, and throughout the Montreal corporate community.
Caroline also holds a B Admin from Concordia University and is a Certified Financial Planner (CFP). She is a member of the Chartered Administrators of Quebec. She holds the following designations: F Pl, RFP and CFP.
Caroline Nalbantoglu, CFP, RFP
President
CNal Financial Planning Inc.
Montreal QC
514-798-4895 x301


Articles
Retirement Planning 101 (Download)

"Protecting Your Pension" (Download)

"Will I Be Able to Retire?" (Download)

"Financial Planning with an Inheritance" (Download)

"The Complexities of Estate Planning (Part 2)"(Download)

"The Complexities of Estate Planning (Part 1)"(Download)

"Income Splitting " (Download)

"The Pitfalls of Asset Allocation" (Download)

"Fine Tuning a Retirement Portfolio" (Download)

All the best
Bob
Thank you Bob. I see that CNAL is listed among the top advisors in Montreal and Ottawa in that website I referred to.
 
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