At Shigehiro Wealth Management, we know that understanding your vision for your financial future is the starting point to developing the financial strategies that will get you to your goals. We accomplish this though creating a wide range of personal and financial documentation and review processes that encompass all aspects of your world. Our approach is designed to help you simplify complex financial affairs.

To better help you organize all of these items, we personalize a binder for you that allows you to have all of your important information in one place. The areas that are addressed in the binder are:

Financial vision statement and IPS

A financial vision statement is simply a document that puts your financial plans, goals, and outlook in writing. Similarly, an investment policy statement (IPS) expresses your investment goals and objectives while outlining the strategies that I, as your portfolio manager, may utilize to achieve them. Both of these documents serve as guides for the wealth management process, as it is once we have established a deep understanding of your vision that we can begin putting all aspects of your financial world together.

Personal financial statements

In creating personal financial statements through Shigehiro Wealth Management’s proprietary financial overview, we are able to incorporate all aspects of your finances. Ultimately, the overview summarizes your cash flow by outlining your expenses and income, in addition to a net-worth summary. When developing a plan for our clients, it is important that we don’t guess. If estimates are off by even $1,000 per month it can have a material impact on your ability to meet your financial goals – which is why we rely on real numbers. With this information, we can create projections for your net-worth and cash flow once you are no longer earning any income, so that you can be sure your future is being taken care of.

Financial plans

We build advanced financial plans that help you understand the impact of various potential factors on your projected net-worth so we can effectively strategize to mitigate or minimize these. Through this stress test, you will see how your portfolio can withstand factors such as higher levels of inflation, major market corrections, will you outlive your money, what if you increased or decrease your annual savings, and finally the impact of higher or lower rates of return. In planning out your financial future we can add in legacy planning, charitable giving, maximization of government programs, and many other objectives you and your family have.

Personalized investment portfolio summary

Every time we meet, we prepare a personalized report that outlines the performance of your account, along with a summary of your asset allocation. This ensures you are always up to date with your portfolio, beyond your monthly account statements.

Tax information

With an understanding of your tax information, we are able to provide suggestions that can reduce, defer, or eliminate tax. With the collaboration of your accountant, we can implement any suitable strategies. Furthermore, this information will also ensure that we have up to date contribution limits to your TFSA and RRSP to further analyze the best way to invest your savings.

Insurance summary

Insurance can be a very complex solution designed to protect your loved ones. In the event of an unexpected event, figuring out how to pay your bills should be the last thing on their minds. Our belief is that the best way to avoid this is to plan ahead and outline your needs. To help simplify this, we complete a detailed insurance needs analysis that outlines why you have the coverage in place. Using this as a guide, we can build insurance policies that work for you and summarize them all in one place. Perhaps most importantly, however, your family can use this document to allocate the resulting insurance proceeds using the easy to follow guide which is based on your wishes.

Business owner planning

Owning your own company can have incredible benefits when working to save money. When you start to save money it is important to know how each investment will be taxed and if your money is working effectively and efficiently for you. At Shigehiro Wealth Management, we have this covered. In this section, we keep a copy of your shareholders agreement, articles of incorporation, share structure, list of directors, and any other important documents pertaining to your business. This allows us to identify any planning opportunities that could better your situation and very quickly see if any adjustments are required, as things change in your lives. We also review succession plans for your business so that when you are ready to remove yourself from your business, you are well prepared.

Trusts

If you have a trust of any nature, we would keep a copy of your trust documents in order to allow for the proper planning, including areas such as taxation and cash flow.

Will and Estate Planning

This section includes a copy of your will and power of attorney as well as a beneficiary audit. The beneficiary audit summarizes all of your assets on one page and allows you to determine how to allocate the money/possessions to your desired beneficiaries. Once you have established where you would like your money to go, we review a copy of your will, power of attorney, and beneficiary designations to ensure they are accurately reflected.

Mortgage and Debt Documentation

We keep copies of any loans, such as your mortgages and lines of credit, that you may have in order to ensure we are always watching your renewal dates. Through our positive working relationship with retail and commercial banking at RBC, we also work to negotiate the best possible rates on those debt facilities. At Dominion Securities, we have access to a number of banking perks for our clients and we make it a priority to ensure that you are taking full advantage of them.

Professional Contacts

This is perhaps the most important aspect in developing your plan, as it is a record of the other professionals you have in your world – all in one place. Furthermore, it enables crucial collaboration with your accounting, legal, and all other professions to ensure that we are all on the same page. This allows us to use one cohesive strategy that has each professional adding their input in their respective specialty.

Wealth management can be confusing and overwhelming at times and it often means something different to everyone. In working with Shigehiro Wealth Management we strive to give you confidence in your plan as we walk you through every step of the way. To learn more, please contact us.