What Does A Financial Planner Do?

40% of the Canadians rank money as their first stressor; why is that? The constant fear of losing money causes sleepless nights, agitation, and health problems. None of us are truly confident in our financial planning, so let’s hire a financial planner to introduce us to the following benefits.

Retirement Saving

Due to the rising inflation rate, more Canadians are suffering from sufficient retirement planning. The retirement figure is a fixed portion of income that is transferred to the retirement fund after the inflation rate adjustment. Furthermore, many workers fail to realize the payout based on the contribution pension plan. Therefore, it is wise to enlist professional services to guide an individual regarding retirement savings and subsequent pension planning.

A financial planner in Canada will ensure the retirement figure is ample enough for a comfortable living, rather than draining in the first five years of retirement. Furthermore, an advisor will aid individuals who intend to retire with early planning for best results.


Ever heard the concept of financial infidelity? One in three individuals hides their financial stance from their romantic partner. Though it may be harmless in some cases, it is definitely deterrence in achieving life goals and financial freedom.

When it comes to couples, a financial planner in Canada will mold their services as an arbitrator. They become unbiased third-party with the leadership capability to guide the family or the couple toward financial stability. Furthermore, a financial planner will also spark an honest conversation regarding conflicting goals to prevent any unfortunate endings.

Minimizes Tax Liability

Investments is a guessing game; ask anyone! The investments are made by studying parameters that provide projected outcomes. Though some things may be out of control, paying taxes is not one of them. Taxes are the primary form of revenue for the government with a progressive tax rate on investments.

A financial planner in Canada will work with your accountants or lawyers to ensure you have minimum tax on a hefty investment. Furthermore, some firms employ an in-house team to facilitate financial growth while falling in a small tax bracket. These professionals have the expertise to do so based on experience and an extensive client portfolio.

Eliminates Stress

Are you stressed about money? Are you spending more than earning? No doubt, most of us contemplate maximizing our income yet fail to do so. A financial planner will reduce stress so you can sleep soundly at night. Furthermore, they will also guide you about the financial mistakes you have made in the past to avoid repetitive behavior.

What To Look For In A Financial Advisor  Retirement Living

A financial planner will give you a sense of direction with future financial goals. As a result, you will spend wisely and keep a strict eye on your investment. Best part! The planner will mold the current plan if the parameters shift, which further eliminates stress.

Other Services Include

  • A financial planner will work with you to develop a financial plan regarding a significant cash inflow. This could be a yearly bonus, inheritance, or unexpected return on investment.
  • Assuming your income changes. In that case, the financial planner will alter the financial plan to help you achieve your future aims and objectives while facilitating consistent contributions to a retirement fund.
  • A financial planner will help you cope with a difficult situation, such as divorce. Financial planner specializes in divorce settlements and alimony payments. Additional services include diving property and investment returns.

About Us

Alas! Not every fee only financial planner is reliable. Before hiring a financial planner, perform due diligence by checking their credentials. Merrick Financial Inc. is an independent financial service that has been offering financial advice for the previous two decades. Visit our website to schedule an appointment online.