abouttimerandr

4 Letter Words. Hope, Help, Pride, FEAR

Wed, 27 Jan 2021 23:45:12 GMT

Hope and Help are more than 4 Letter Words

A recent testimonial inspired me to consider Hope and Help.

Hope

Hope is comforting but alone it is ineffective at improving a challenging situation. Hope is the inspiration for commitment. Committment is hard especially without a strategy. A few strategies that are connected is a plan. I'm a planner I know this to be true. So hope inspires, Inspiration commits, commitment becomes efficient with a strategy, and a few strategies connected is a plan and a plan is how to get from where one is at to where one wants to be.

Help

Help is the application of external efforts to make a person's effort/commitment and strategy more effective than it is without help. Why wouldn't a person who is truly committed to improvement want more effective results? Sometimes the journey is more important than the destination. Sometimes the person imagines themselves to be the kind of person who is superior to others who would require help. Sometimes the imperfection of the task is humiliating or simply private.

Pride

Strong conviction/belief in who a person presents themselves to be in the world. Knowing ones identity. Ego is who a person imagines themselves to be. Unconsciously, people make decisions to support the person they imagine themselves to be. Its normal. The challenge is when those decisions are contrary to their own best interests often due to the span between imagination and reality.

Creating an emotionally non judgemental "safe space" where truly sharing who one is trying to be from who they are now is a sacred trust of pure courageous vulnerability. That's the daily grind as the best of the best financial planners.

Fear

Money and finance is taboo subject, carrying issues of deep seated resentment, fear, worthiness insecurity and inadequacy. The Fear is masked in false humility, making poverty a virtue and healthy ambition sinful. Knowledge often helps with fear, but confidence through experience is a cure for fear, turning it to nervous anticipation and excitement. Fear and pride are deadly cause inaction (Flight, Fight, Freeze) or worse.

The Bottom Line

Financial Planning is about creating better choices over time. Changing the circumstances and limited perspectives that are normal responses to life's ups and downs. Its about empathy, understanding and a commitment to our clients to navigate and offer better solutions for more effective results. Borrowing experience, confidence with true integrity is what happens in a financial planning relationship.

Does your Advisor see you like this?

paul.dwyer@abouttimerandr.com (Paul Dwyer) — Sat, 12 Dec 2020 05:25:46 GMT

Fees and Returns for December Statements will tell you what you need to know.

Friendly Advisor?
So what? Used car salesmen, realtors and lawyers are friendly too. Are you getting value for the fees you're paying? How do you know?
it's a question of relative not ABSOLUTE VALUE.

Financial planners are paid to plan?
Even up to 5 years ago planners were compensated by the sale of investments , and they performed planning services for free. That's completely opposite today. Because of computer literacy, and the internet... all ages and stages of society have direct access high quality investment strategies, with or without a plan.   Are you getting planning value? Is your financial plan still relevant? How would you know?

Fees... Touchy subject?
Not if you're keen on the comparative value versus alternatives.

The TRUTH is. Relationship quality is a binary qualifier, and not an indicator of value . Friends - should be and are - FREE.

Not all Advisors are the same.

They vary in:

Qualifications and Professional Development
Experience
Platform
Specialization
COMPETENCE
WORK ETHIC
ASSOCIATED LICENSING.

Advisors may also have different capacities based on their Dealer or Brokerage.
Access to:

Experts
Suitable Products
Pricing
Related Services

Independent advisors are unbound and able to seek planning tools, experts, and premium products services and strategies and more.

This January... when you open your Investment statements... Find out what your Fees are and get mad enough to seek better value elsewhere. or... Not. Its a question of Relative Value...

Paul

Professional Corporations Year Enders

Sat, 12 Dec 2020 03:00:44 GMT

2020 is winding up... Have you prepared?

Planning Is Important... At this time of year, finishing up with a good grip of your basic numbers for planning next year is CRITICAL.

As a Professional Corporation, planning your tax obligations and Pandemic support qualification. are just a few areas where Knowing your basic numbers are critical... Take the time get close and personal with your business. We're here if you need to ask questions or just talk an idea through.

Salary and Dividends Mix...

TOSI - Tax On Split Income - demands reasonable wages be paid to family staff members. There's a Schedule at this link. PWC Year End Tax Tips . Be sure and consult your qualified professional before any tax strategies are implemented.

Passive Investments in your Corporation..

PIT - Passive Income Tax, within your Corporation is a serious issue. Staying under this year's threshold is critical. While its late, its never too late... and you're better off knowing where you stand than not. Check out the PWC Year End Tax Tips to be clear.

Pandemic Response...

CEWS - Canada Emergency Wage Subsidy

CEBA - Canada Emergency Business Account (interest free loans)

CERS - Canada Emergency Rent Subsidy

and more. See the Federal Government's Guide Here . Again seek guidance from your professional advisor to be certain what you should be aware of

Depreciation and Operating Expenses...

Amortization, CCA, or Depreciation is a deductible expense. You should have an understanding of what your deductions are on Capital Assets annually. This informs you of budgeting for other programs like Employee Benefits and Elastic Expenses.

And while you're at it.

Call your Business Insurance Broker. Tell them you love them and ask for a Claims Experience Letter - Just for file purposes. It serves to remind your broker that you are always evaluating their value... (Keeps them on their toes) and it keeps you informed of how all insurers see you, just in case there's a mistake on the file you'll know it.

Happy Year End.

Paul

BDO Exit Planning Survey... this 90 second survey is an eyeopener.

paul.dwyer@abouttimerandr.com (Paul Dwyer) — Wed, 28 Oct 2020 20:32:45 GMT

With planning & preparation, professional results happen. Its About Time to Talk about your Exit Strategy.

Excellent, straightforward survey on Exit preparation and Planning. 90 Seconds of interactive basic questions. You'll be glad you took it.

Definitely an eyeopener. its about time to talk about your exit and your exit plan

Link to survey here: https://bit.ly/2HNwH36

Paul

Corporately Owned Insurance - Sterling Rempel & Achen Henderson CPA (You Tube Video)

Wed, 28 Oct 2020 20:01:24 GMT

Ever Wondered Why Corporations own Life Insurance? Its not fear of death. Its Fear of Taxes.

Corporately owned Life insurance has so many benefits, including more efficient premiums, shareholder protection, Collateral value, Vested Gains, non taxable dividends, and more.

Today Tax On Split Income (TOSI), Passive Investment Income Tax (PIIT), Small Business Deduction Grind - (SBD Grind) and Lifetime Capital Gains Exemption Loss (LCGE Loss) are real factors to consider when managing investments inside a Corporation.

Sterling Rempel and Achen Henderson discuss these matters in an informative and humorous way in this YouTube clip. Its what I've been doing with my best corporate client for years. Thanks Sterling and Achen for the excellent production. (Click on the picture for the video)

https://www.youtube.com/watch?v=_R0lWheZBDE

Paul

You've been Socked!

Wed, 28 Oct 2020 19:19:24 GMT

Professional Introductions Reimagined. Differently? Better!

Anyone in the people business knows the value of a warm introduction, the gold standard of client confidence a.k.a. "Client Referral". After nearly 15 years in practice I've learned from the best in terms of positioning and managing this precious resource of business development, in terms of expectations and social interactions. They preach Professionalism!, but most clients say they experience authentic, sincere, enthusiastic, humorous, and heartfelt concern when they work with me. They get professionalism at the bank, and its not impressive.

Sending a package ahead of a first meeting to prepare the recipient for the pleasant experience including what I offer was a great way of warming and calming potentially awkward meetings. The results improved, but I found that the some curiosity was necessary for prospects to overcome social awkwardness . I innovated by sending parts of a puzzle or other incomplete gifts where, during the introduction, I would offer the complimentary components. Again Improved results.

Existing clients still had mild resistance to offer introductions because of the FEAR associated with being the middle-man. Risk of being associated with a socially awkward interaction, or risk of not fulfilling expectations or risk of professional or non professional conduct. Whatever, that risk was real for clients. After considering this, I offered my clients anonymity - so that they would not be identified in my introduction process, should it lead to disappointment. WOW... what a response.. It has been raining introductions since.

So today an existing contact... or client... offers me a name with contact details, explains how they know this contact, why they think that the contact would want to know me, and vice versa. Based on that I accept decline or defer that offer. On acceptance, I connect with the contact and then send out a welcome package including:

Postcard with contact information, the Rules/assurances, and Instructions.
A packet with a single sock and a pair of googly eyes
An introduction, to be accepted, declined, or deferred.

While the vast majority of contacts respond positively and meet within 30 days, responses do vary from no response, to rude misunderstandings. I have found the response reveals so much about the character of the contact. It's a very good indication of how the relationship will go. I've also found that in many cases the client chooses this anonymous method for a reason, as they are aware of the abrasive prickly character of their colleagues.

If you are lucky enough to receive notice of "Getting Socked", know that you are loved by your colleagues and you have an opportunity to change your financial planning experience for the better. Trust the process, or maybe just be open to an introduction. You don't know what you don't know.

Paul

Don't be another Advisor's "B List" Client...

paul.dwyer@abouttimerandr.com (Paul Dwyer) — Tue, 27 Oct 2020 19:47:45 GMT

If you're not in the top 10-15% of your Captive Advisors client base, you're probably getting "B-List" Service. #About Time to see an Independent Financial Advisor

Advisors are challenged allocating time and resources through their client base. Serving of the hundreds of clients they have is impossible.

The largest 10%-15% of clients get 85%-90% of captive advisors attention
Fees are paid proportionally (about 2.5% combined dealer & fund).
The larger clients (at the same rate) pay significantly higher dollar amounts, than the average clients.
The vast majority of captive advisors clients (80%-85%) receive "B-List" service*
Financial Services Companies use this model to meet revenue targets through fees
Fee revenue to covers infrastructure, pension obligations, and middle management.
If you're not in the top 10-15% of your advisors wealthiest clients... You're getting "B list" Service and you deserve better!

As an Independent advisor there is little or no infrastructure, pension, or middle management to cover. Your fees are fully transparent. They're typically lower* and they're based on the work you need at the time you need it. You are never a "B Lister", you're a "VIP-Lister"!

Stop chasing your advisor for second class service with unnecessarily high hidden fees. With hundreds of thousands of affluent clients available, (hard to say it but) - to captive advisor you're just not that significant .

With an Independent advisors your business is actually the basis of their business and your ongoing feeling of value is the only priority. There's a big difference in how you're treated and your results, because there's no middle man or competing hidden corporate agenda. Also Independent advisors like me, often offer a much more compete comprehensive suite of services to support businesses and their owners.

At About Time Risk & Retirement Consulting - we are a resource for SME business and their owners - like you - to maximize the returns of their risk and effort, through advice planning and strategy...

*The 80/20 or variations of that rule is what is used in most captive advisors business planning, as a corporate mandate.

* Your fees are always a factor of the value you intend to receive and the effort the advisor intends to put forward. fees are transparent, negotiable and structured in a way that suits you best. Always

Financial Planners Secrets… REVEALED!

Mon, 22 Apr 2019 07:09:39 GMT

Regardless of whatever anyone tells you, financial planning is not new or unique strictly speaking. Actually the methods and strategies are widely used and time tested. Specifically, financial planners do 3 secret things to continue growing our own success...

We preselect clients who are most likely to be successful. Financial Advisors can spot the inevitably successful people from great lengths. We actually spend decades studying success and mediocrity and can tell almost immediately where a person is headed at that time. Our success comes from our clients success so we have a vested interest in preselecting the inevitably successful clients.
We succeed when our clients engage in beneficial financial strategies. When our clients engage in beneficial strategies like paying off debt, buying a home, planning for retirement and owing a business we succeed. You see to do any of these financial strategies, clients must be able to see their future and want it to be better. When clients can see their future they understand that a plan significantly increases the chances of a better future by a wide margin.
We succeed when our clients avoid, mitigate or transfer risks. Success to some degree is an inevitable part of life. The accumulation of success is only slowed by the person’s own ambition but it is stopped by risk. While we cannot avoid events that cause loss, we can effectively manage the loss through avoidance, mitigation and transfer. Having our clients aware of the ways to manage risk and loss beforehand helps them resume progress faster. Over a lifetime its the difference between millions and billions.

In summary the secret to our success is to find clients willing to be inevitably successful, interested in doing the right thing for their future selves often, while avoiding risks or loss more often. We engage and support our clients because when they succeed we succeed… and although not one client makes a successful financial planner, It only takes one financial planner to secure success for a community of clients.