Retirement | Wealth | Insurance
Retirement | Wealth | Insurance
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Thomas, Who are you?
In the past 10 years, I have been working as an insurance consultant. My mission is to empower millions of Canadians with financial literacy. I believe everyone has the ability to unlock wealth and reach financial independence.
What makes you different
from a bank?
I am independent, and I don’t work for any bank or any financial institution. Instead, I have the flexibility to see which financial institution is the most suitable for your situation. I don’t take a cookie cutter approach to your financial journey. Bank advisors often have a goal of getting as much transaction as possible into a mutual fund, as they have quotas to meet. You are just a name and a number on their spreadsheet. That is why you won’t see the same advisor in the 2nd year.
But to me, this is a long term commitment. That is why my service and reviews are always on point.
I prefer to focus on the client’s end goal instead. I find out what it is you truly want, then map out the GPS to get you there.
What do you specialize in?
My focus is retirement, wealth, and insurance. The reason:
A lot of Canadians aren’t clear on these three topics, however, these three are essential to reaching financial independence.
A lot of Canadians are being promoted ETFs, Funds, and whatever investment, but these are only the tools. However, a tool without a strategy is not effective.
There is too much information overload right now. My job is to collect, filter, and deliver.
So do you just help me invest?
Choosing a magic bullet fund isn’t my forte. What I do is focus on the big picture of where you are currently at, and more importantly, where do you want to go. I create both offensive and defensive strategies because just like any sports, you cannot win any game without either-or.
Helping Canadians Achieve Financial Stability
I have my own advisor already,
can I get your opinion?
The truth is, based on 90% of the most wealthy, they actually have a team of advisors, each focusing on a different specialty. My question to you is, does your advisor help you with the following: Tax saving, investment strategy, business planning, retirement planning, estate planning. Etc. If not, I may be able to help you out. The advisor that is right for you may not necessarily be me, but we are building a network and we can work closely with your advisor as well. How do I know that if I work with you, you don’t run off with my money? You never actually write a cheque to me. You actually write a cheque to large institutions that I am contracted with. My focus is the actual planning. So even if I am no longer in the business, the institutions continue to hold your assets. You are free to appoint anyone to manage your assets or move your assets out on your own. As the client you have full control of your accounts, my job is to facilitate.
How much do I need to
start working with you?
I can’t answer this yet. It really depends on what your goals are and what you hope to achieve. My job is to build that financial road map from where you are at, not take a large fee from you or take your cash and invest it into some random fund without any reason.
How often will we be in communication?
You will receive monthly statements from the institutions I work with. But more importantly, I will be reaching out to you roughly every 6 months, reviewing your finances, and if any of your goals have changed. The best approach to consulting is clear and constant communication.
Approximately how long will it take for you to respond to me?
I make the effort to always get back to any one of my clients within 24 hours.
Hey Thomas, what is the cost
of working with you
I get compensated in two ways. If you like to DIY but are seeking a consultation to see if your strategy is on track. I charge an hourly fee for my consultation. If you decide to follow my plan and choose a product through my recommendation, I’ll waive off the hourly fee. (As I will send the bill to the financial institutions) But either way, what I need most is your time and your transparency.
I read online that Term/Permanent/Universal Life insurance is better!
In my opinion, 9/10 times, you get what you search for. To me, I don’t think one type of plan is better, as I don’t know who the product is for. I have heard the saying, buy term and invest the difference. But why do business owners buy permanent, then borrow against it to start a new venture? Permanent insurance can be an asset. There is a purpose for each and every product. What is important is learning about your situation, what it is that you are looking for, and the goals you wish to achieve. I prefer to match the product to your situation instead of randomly stating ABC Insurance is the “perfect” plan.
Is sickness insurance the same as life insurance?
No they aren’t quite the same. When I speak of life insurance it is broken down into three parts. Life Insurance – Covers income from loss of life. Critical Illness – Covers income from becoming critically ill and unable to work. For example, Cancer / Heart Attack / Stroke
Disability – Covers income from becoming disabled and unable to work. Each plan works a little bit differently, but can also be combined. This is why it is critical to speak to an agent so that they can figure out what is the most optimal plan for you.
If consultation is free, how do you get paid?
I get compensation when I do business with insurance companies. As an independent advisor, I have contracts with Canada’s top insurance companies. It allows me to seek out the best plan suitable for your situation. Plans can differ based on age, health, marital status and even lifestyle.
What happens If I can’t get insurance
In Canada there are always multiple options, even for those with health risks. While I cannot guarantee you that I can find you something, what I can do is learn about your situation so I can find you a plan with the best opportunity.
I have a business, can they pay my premium?
That is an option. However this requires a consultation. The benefits and complexity of a business owned insurance is significant. We would need to sit down and structure it in a way beneficial for you and the business.
I already have insurance at work, do I still need a plan?
I would always recommend getting a personal plan. The reason is you never know if you will continue to stay at your workplace. And you don’t know if your next workplace will have a similar plan in place. I have seen situations where an illness strikes in between the gaps of switching jobs. It’s just a risk I don’t want you to take.