Financial Planning
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C l i e n t PLANNING
Questionnaire
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Financial Planning Process
Goals, Objectives & Financial Resources
Step 1: Understanding
Getting to know the goals & objectives you have for your family’s future is the only way we can be sure that
the financial advice we present to you will meet your needs. We do this by asking questions about your
financial resources and obligations. We also need you to define what your personal and financial goals,
needs and priorities are and the timeframe you have set for yourself.
Step 2: Financial Analysis
Once we have an understanding of your current financial situation, we use this information to create a
financial snap-shot of your net worth, retirement and insurance needs. Further analysis includes financial
projections that focus on your lifestyle, assets and taxation in order to determine how and when you will
attain your personal and financial goals.
Financial Security
Step 3: Retirement
With a clear understanding of your current situation the next step is to compare the capital resources you are
projected to have at retirement to the capital you will need. Depending upon your situation we will present
you with options that address issues such as lifestyle, risk tolerance and financial management to ensure
that your retirement goals are inline with the financial resources you will have.
Step 4: Risk Management
Life happens – and so do unpredictable events that can alter the course of even the best laid financial plans.
Our understanding of the various hazards and the financial impact they can have on your plans affords you
the opportunity to limit their effect with the appropriate insurance coverage, offering you peace of mind
knowing that your family's financial future is secure.
Strategies & Recommendations
Step 5: Implementation
The financial plan we prepare will provide you and your family with strategic choices which have been
designed to reduce income tax liability and improve overall returns and security from adverse events. In
addition to assisting you with implementing any of the recommendations discussed, we will coordinate
contacts with other professionals as needed.
Step 6: Monitoring & Review
Finally we will provide a clear road map, which will outline specific timelines, benchmarks and review
timeframes. Plan implementation through our firm offers assurances that the plan will continually be
monitored and reviewed for effectiveness, providing you with peace of mind knowing that you have a solid
financial plan that will help you realize your dreams.
Developed by
Financial Plan Advantage
St Albert, Alberta
www.fpadvantage.com
© 2010 Financial Plan Advantage Ltd.
1.0 Estate & Financial Planning
1.1 Current Plans
Please describe any financial planning strategies you have implemented in the past.
Planning Strategy
Date Implemented
1.2 Future Plans
Please describe any financial planning strategies you plan to implement in the future.
Planning Strategy
Implementation Date
1.3 Personal Planning
Please select the types of planning that interest you the most.
† Reducing income taxes
† Life insurance needs
† Income splitting
† Retirement income planning
† Disability income needs
† Debt elimination
† Estate planning
† Critical illness needs
† Education planning
† Investment planning
† Long term care needs
† Financial management
† Other
† Other
† Other
1.4 Corporate Planning
Please select the types of planning that interest you the most.
† Reducing income taxes
† Funding a shareholder's agreement
† Group insurance
† Corporate investment strategies
† Transitioning to next generation
† Group RRSP
† Distributing retained earnings
† Winding up / selling a business
† Health & Welfare Trust
† Creating retirement income
† Key man protection
† IPP, RCA, EPSP
† Other
† Other
† Other
© 2010 Financial Plan Advantage Ltd.
2.0 Personal Information
2.1 Person A
† Male † Female
Name:
Date of birth:
Citizenship:
Marital status:
Were you married previously?
† Yes
† No
Have you ever been declined or rated?
† Yes
Support obligations:
Have you ever smoked?
† Yes
† No
If Yes, date last used:
Have you ever suffered from a major illness?
Have you ever applied for life insurance?
† Yes
† Yes
† No
† No
† home phone
What is your preferred method of contact?
If Yes, provide details:
† cell phone
Home phone:
† business phone
† No
† by email
Cell phone:
Email address:
Occupation:
Business phone:
Employer:
2.2 Person B
† Male † Female
Name:
Date of birth:
Citizenship:
Marital status:
Were you married previously?
† Yes
† No
Have you ever been declined or rated?
† Yes
Support obligations:
Have you ever smoked?
† Yes
† No
If Yes, date last used:
Have you ever suffered from a major illness?
Have you ever applied for life insurance?
What is your preferred method of contact?
† Yes
† Yes
† No
If Yes, provide details:
† No
† home phone
† cell phone
Home phone:
† business phone
† No
† by email
Cell phone:
Email address:
Occupation:
Business phone:
Employer:
2.3 Family
Name
© 2010 Financial Plan Advantage Ltd.
Age / DOB
Relationship
Financial Support
3.0 Personal Goals
3.1 Personal Goals
Next 12 months:
Within 2 to 5 Years:
Within 6 to 10 years:
3.2 Retirement Goals
Person A
Person B
If money was not a concern, what is your preferred retirement age?
If your finances require it, what age are you willing to work to?
What is your current RRSP contribution limit?
$
$
What is your current TFSA contribution limit?
$
$
† Yes
Do you anticipate that you will earn an income while in retirement?
If Yes, how much do you expect to earn?
† No
$
† Yes
† No
† Yes
† No
$
To what age?
† Yes
Does your employer provided you with a pension plan?
If Yes, what percentage of your income is contributed each year?
† No
%
%
Plan details and income expectations:
Enter the income you feel you will need during your retirement:
Active retirement (this is when you will do most of your travel):
$
To what age?
Passive retirement (still independent with less travel):
$
To what age?
Rate your willingness to do the following in order to meet your retirement goals:
Work a few years longer to reduce the capital that will be needed.
† Not an Option
† Would Consider
† Yes
Retire on less income to reduce the capital that will be needed.
† Not an Option
† Would Consider
† Yes
Take more risk now to achieve higher investment returns.
† Not an Option
† Would Consider
† Yes
Take more risk in retirement to achieve higher investment returns.
† Not an Option
† Would Consider
† Yes
Spend less now in order to save more for retirement.
† Not an Option
† Would Consider
† Yes
Take advantage of tax planning strategies to maximize savings.
† Not an Option
† Would Consider
† Yes
3.3 Death of a Spouse
Should your spouse die, rank the following needs on a scale of 1 to 5: (1 = unimportant, 5 = very important)
Maintaining your current standard of living
Money to pay of your mortgage
To not work until your youngest child is in school
Money to pay off credit cards and loans
Providing for your children's university education
Money to invest for your retirement
Helping your children financially
Other
Person A
If your spouse died, what percentage of their income do you need to maintain your lifestyle?
%
Person B
If your spouse died, what percentage of their income do you need to maintain your lifestyle?
%
© 2010 Financial Plan Advantage Ltd.
4.0 Financial Information
4.1 Assets
Please select the assets that you currently own and provide details below for each.
#
† 1. Savings, GIC, etc.
† 4. Real Estate
† 7. RRSP / RRIF
† 10. TFSA
† 2. Mutual Funds
† 5. Private Company
† 8. Pension / IPP
† 11. Insurance, Annuities
† 3. Stock Portfolio
† 6. Shareholder Loans
† 9. RESP
† 12. Other
Description
Value
Cost
Owner
Notes
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
4.2 Liabilities
Please select the liabilities that you currently have and provide details below for each.
#
† 1. Credit Card
† 3. Mortgage
† 5. Car Loan
† 7 Income Taxes
† 2. Line of Credit
† 4. Home Equity Line of Credit
† 6. Consumer Loan
† 8. Other Debts
Description
© 2010 Financial Plan Advantage Ltd.
Balance
Payment
Interest
Owner
Deductible
† A, † B, † J
† Yes
† A, † B, † J
† Yes
† A, † B, † J
† Yes
† A, † B, † J
† Yes
† A, † B, † J
† Yes
† A, † B, † J
† Yes
† A, † B, † J
† Yes
† A, † B, † J
† Yes
† A, † B, † J
† Yes
† A, † B, † J
† Yes
5.0 Financial Information
5.1 Life & Health Insurance
Please select the insurance that you currently own and provide details below for each.
#
† 1. Creditor Life
† 3. Whole Life
† 5. Disability Income
† 7. Long Term Care
† 2. Term Life
† 4. Universal Life
† 6. Critical Illness
† 8. Health Insurance
Description
Face Amount
Premium
Insured
Beneficiary
5.2 Sources of Income
Please select the sources of income you currently receive and provide details below for each.
#
† 1. Employment Income
† 4. Interest
† 7. RRSP/RRIF
† 10. Annuity Income
† 2. Commissions
† 5. Dividends
† 8. Pension Income
† 11. Rental Income
† 3. Annual Bonus
† 6. Capital Gains
† 9. CPP / OAS
† 12. Other
Description
Amount
Paid to
Notes
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
5.3 Expenses & Savings
Please enter your current living expenses, debt service and savings.
Description
Amount
Frequency
Paid by
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
† A, † B, † J
© 2010 Financial Plan Advantage Ltd.
Notes
6.0 Corporate Assets
6.1 Corporate Structure
† Holding Company
Name of business:
Estimated FMV:
$
Year end:
EBITDA:
$
Date of USA:
Please draw a diagram of the ownership structure of your business.
Person A
Definitions:
Person B
USA: Unanimous Shareholders Agreement, FMV: Fair Market Value, CGE: Capital Gains Exemption
EBITDA: Earnings Before Interest, Taxes, Depreciation and Amortization
© 2010 Financial Plan Advantage Ltd.
7.0 Corporate Assets
7.1 Corporate Structure
† Holding Company
Name of business:
Estimated FMV:
$
Year end:
EBITDA:
$
Date of USA:
Please draw a diagram of the ownership structure of your business.
Person A
Definitions:
Person B
USA: Unanimous Shareholders Agreement, FMV: Fair Market Value, CGE: Capital Gains Exemption
EBITDA: Earnings Before Interest, Taxes, Depreciation and Amortization
© 2010 Financial Plan Advantage Ltd.
8.0 Estate Planning
8.1 General Information
Do you have a current Will?
† Yes
† No
Date of last update?
Name of your executor / executrix, Person A:
Name of your executor / executrix, Person B:
Have you made provisions in your will for a trust?
Do you have a Power of Attorney?
† Yes
† Yes
† No
† No
Purpose:
Date of last update?
To whom have you given authority, Person A?
To whom have you given authority, Person B?
Do you have a Personal Directive?
† Yes
† No
Date of last update?
To whom have you given authority, Person A?
To whom have you given authority, Person B?
8.2 Estate Distribution: Person A Dies First
Name
Relationship
Type of Bequest
Details
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
8.3 Estate Distribution: Person B Dies First
Name
Relationship
Type of Bequest
Details
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
8.4 Estate Distribution: Second Death
Name
Relationship
Type of Bequest
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
† Cash † Property † %
© 2010 Financial Plan Advantage Ltd.
Details
9.0 Financial Documents
9.1 Please provide copies of the following documents.
† Previous 2 years income tax returns including your most recent Notice of Assessment.
† Employer provided benefits, including your group life, disability and company pension plan.
† Life insurance policies including the most recent annual statement.
† Disability, critical illness and long term care policies including the most recent annual statement.
† Current investment statements for both RRSP and non-RRSP investments.
† Most recent mortgage and other loan statements including any line of credit you may have.
† Your current Wills and any Power of Attorney for property and Personal Care/Health Directives.
† Marital agreement, separation agreement, divorce orders, cohabitation agreement.
† Trust documents for any trusts of which you, your spouse and/or your children are beneficiaries.
9.2 Please provide copies of the following documents.
† Financial statements and tax returns of any corporation in which you own an interest.
† Copies of any partnership or Unanimous Shareholder Agreements.
† Current investment statements.
† Life insurance policies on key shareholders including the most recent annual statement.
† Disability and critical illness policies on key shareholders including the most recent annual statement.
† Current statement for any employee pension, group RRSP and profit sharing plans.
† Most recent renewal for any employee life, health and dental plans.
9.3 Notes
© 2010 Financial Plan Advantage Ltd.
Planning Notes
© 2010 Financial Plan Advantage Ltd.