Southport Asset Management


Yearly Financial Planning Strategies

Why it’s important to do a review.

With the year coming to a close, now is a good time to sit down with your financial advisor to do a yearly review. We recommend that our clients do an annual review as a lot can change in a year. We want to make sure as we enter another year that the goals and objectives we set out originally still make sense. A review gives us the opportunity to re-evaluate our strategy and make any changes or adjustments to your financial plan.

These are some of the areas we address during a yearly review:

  • Has your financial situation changed? Did you make any large purchases in the past year, like a new house or car, did you have a major life change, like a new baby, or new job. If so, your financial planning priorities may have changed.
  • Has your health, or the health of a family member changed?
  • Are you paying too much tax? We take this opportunity to see if there are ways to limit the amount of tax you are paying, as well as, ensure you have the right mix of investment and insurance products to meet your financial goals.
  • Have your insurance needs changed? Insurance can help protect the financial stability of your family should the unexpected happen. Would you have enough life insurance to cover living expenses and/or debt? If you were unable to work due to illness or injury, would you have income protection? These are all questions we help you answer.
  • Is your estate plan up to date? Take the time to develop a proper estate plan to ensure that your beneficiaries are looked after. Almost 50% of Canadians will die intestate. Most Canadians understand the importance of having a will, but not all will take the necessary steps to develop one.

Doing a review is a key part of any financial planning strategy. If you would like to set up a time to do a review of your financial goals and objectives and do some planning for the year ahead, call us today (902) 446-3900. Just one more way Southport Asset Management can help you reach your goals.

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