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Ottawa winters aren't always as mild as they were in 2016-2017 and forecasts show the upcoming winter will "be colder than normal". Fortunately, with accurate forecasting, you are able to prepare your home for winter weather.
As a homeowner, being aware of your risks and taking action to limit your liabilities can help protect your valuable assets. Homeowners insurance is to protect you after a claim but there are a number of things you can do to minimize the harsh effects of winter on your home.
Do you remember the winter of 1998 that caused $5 billion in damage? Don't fret, below are a few things you can do today to prevent 'chilling' damage.
Fires claim the lives of 8 Canadians every week. December is the most dangerous month for electrical fires, and deaths are most common in winter months when people tend to use lighting, heating, and appliances more often.
Prepare an emergency disaster kit that includes the following items:
Financial advising involves providing guidance and advice to individuals, families, or businesses to help them make informed decisions about their financial matters. This can include various aspects such as investment planning, retirement planning, tax planning, estate planning, and more. Financial advisors analyze their clients' financial situations, goals, and risk tolerance to create customized strategies that align with their objectives.
Financial planning is crucial for several reasons:
Goal Achievement: It helps individuals set and achieve financial goals, whether they are short-term, such as buying a home, or long-term, like funding a comfortable retirement.
Risk Management: Financial planning addresses risks by considering insurance, emergency funds, and other protective measures.
Budgeting and Saving: It promotes responsible money management through budgeting and saving, fostering financial stability.
Wealth Building: Effective financial planning can lead to wealth accumulation and the creation of a secure financial future.
Yes, financial advisors can help with debt management. They can assess your overall financial situation, create a budget, and develop strategies to pay down debt efficiently. They may also negotiate with creditors on your behalf, provide debt consolidation recommendations, and offer guidance on prioritizing and managing debt repayment.
The specific responsibilities of a financial advisor can vary, but generally, they:
The fees charged by financial advisors can vary widely based on factors such as the advisor's experience, the services provided, and the region.
Common fee structures include:
Hourly Fees: Advisors charge an hourly rate for their services.
Flat or Fixed Fees: A set fee is charged for specific services or a comprehensive financial plan.
Asset-based Fees: Fees are a percentage of the assets under management (AUM).
Commission-based Fees: Advisors earn commissions on financial products they sell.
Combination of Fees: Advisors may use a combination of the above fee structures.
It's important to discuss and clarify fee arrangements with a potential financial advisor before engaging in their services.