More than ever, Canadians have many financial tools and resources at their disposal. With that comes information that can often lead to confusion and, in turn, poor financial decisions that cost Canadians millions of dollars annually. With such an abundance of information, how can we ensure that we are making the right financial decisions for ourselves and our loved ones? At Oberoi Financial Group, we are firm believers in the value of advice. Research has shown that working with a financial advisor & planner will allow you to accumulate significantly more wealth over time. Studies also show that advised Canadians suffer less financial stress, feel more comfortable during economic hardship, and feel more on track toward their financial goals.

Proof in the numbers

According to studies performed by both the Investment Funds Institute of Canada & Centre for Interuniversity Research and  Analysis of Organizations (CIRANO), Canadian’s level of financial security significantly rises with the help of a financial professional. Here are some key findings

• Households with an advisor saved, on average, 10.75 per cent annually compared to non-advised Canadians who saved 6.7 per cent.
• After 15 years with an advisor, respondents (had, on average, 173% more assets than those without advisors
• The average net worth of advised investors is nearly three times greater than that of non-advised investors.
• Households using advisors had an annual savings rate of 8.6 percent, compared to only 4.3 percent for non-advised households –they save at twice the rate.
• 84 per cent of households with an advisor held RRSPs, compared to just 36 per cent of those without an advisor.
• 45 per cent of households with an advisor had investments in tax-free savings accounts compared to just 20 per cent without advisors.
• 71 per cent of those with a financial advisor believe they will be better off financially a year from now, compared to 57 per cent without one.

How can an advisor/planner help?

While the data shows the direct correlation between financial success and the use of an advisor, what are the key areas where value can be added? At Oberoi Financial Group, we believe our team can help you, your business and your family directly in each of the following six areas:

Financial Management

• Budgeting, cash flow management & financial projections
• Debt repayment plans & management
• Incorporation, compensation structures

Investment Management

• Risk Assessment, goal setting & asset diversification
• Tax optimization
• Market research, data & analysis

Retirement planning

• Retirement goals and timelines
• Optimization of retirement plans ( RRSP, Govt Plans, TFSA, Pensions etc.

Tax Planning:

• Optimizing tax efficiencies and shelters
• Use of corporations, trusts, etc.

Risk Management:

• Life, disability & critical illness insurance
• Wills, trusts and other legal considerations

Estate Planning:

• Succession planning and inter-generational wealth transfers
• Legacy, charitable giving and life insurance planning

Putting the financial plan in motion:

While it is easy to identify the value of advice and financial planning, why do so many Canadians resist the use of a financial plan? Most often, the reason is not “getting around to it” or continuously “putting it off.” At Oberoi Financial Group, our team is ready to help relieve that burden and get the plan in motion. Your advisor will not only provide you with the right tools to get you started but will also help you navigate each step along the way. Furthermore, we will ensure we track the progress of your goals and ensure the financial plan is adjusted for what life throws at you.

There has never been a better time to get started, whether it be to manage your debt or start investing. Contact our specialized team of advisors and planners to get on your way to achieve your financial goals.