By: Deanne Gage | The Toronto Star | January 19, 2012
Read More, and see what Scott Plaskett says about do you need a financial plan.
It sounds simple enough: accredited financial planners should produce financial plans for all their clients. Do you ever wonder why things don’t work out that way? Here are the reasons:
You don’t need a plan
A financial plan is a detailed document that articulately explains the person’s goals and offers specific recommendations. Some plans can be up to 40 pages. But does everyone require one of these gems?
Not necessarily, despite what some advisors and financial institutions might say. Clients just might need some financial-planning advice, says Heather MacDonald, regional financial-planning consultant, southern Alberta, with Calgary-based RBC Financial Planning. “It varies depending on where they are in life,” she says. “Not everybody would benefit from the big report…
