Seeking out a second opinion on your portfolio and investment strategy is one of the most important things you can do when you approach retirement or if you have recently retired.
“More often than not, I come across portfolios that either have more risk than what the client wanted, generate lower monthly incomes than what they require, or, worse, have embedded and hidden fees that erode their portfolio’s returns,” says Dan Keil, a senior wealth advisor with Scotia Wealth Management. “Seeking out a second opinion will either validate that their advisor is doing is the right thing or give clients other options to do significantly better.”
It’s essential that people’s strategies are aligned with their long-term needs — and that goes beyond their financial goals.
“What makes my practice unique,” Keil says, “is that we pride ourselves on integrating financial planning, estate planning and tax optimization with investments, and using investments that are both flexible, liquid, low-cost and provide an above-average level of monthly income.”
When a prospective client meets with Keil at either his Ladner or Tsawwassen office, he asks them to bring financial statements, an understanding of their debt situation, and a willingness to discuss their family dynamics.
“No two families are alike, and it’s important, if not imperative, to proactively address family dynamics as part of your wealth strategy as well as your long-term care needs as they pertain to your financial management as you age,” he says. “I know there might be uncomfortable conversations, but I’d rather have them now than retroactively.
“We are all going to pass away at some point. We have to ask ourselves what our legacy will be. Will it be just money or will it be money coupled with fighting? Money has a horrible way of bringing out the ugly in people that we didn’t know was there. I’d rather address those difficult questions now and make sure your legacy is one of love and generosity.”
A second opinion takes 45 minutes of your time. Can you afford not to have one?
To discover how you will benefit from a second opinion, check out this informative checklist, call 604-601-1571,or schedule your appointment at www.dankeil.com. Also plan to attend Dan Keil’s upcoming information seminars. The first one is scheduled for January 30 and you can check for updates here.
Dan Keil, CIM, is a Senior Wealth Advisor with Scotia Wealth Management® ®Registered trademark of The Bank of Nova Scotia, used under licence. Scotia Wealth Management® consists of a range of financial services provided by The Bank of Nova Scotia (Scotiabank®); The Bank of Nova Scotia Trust Company (Scotiatrust®); Private Investment Counsel, a service of 1832 Asset Management L.P.; 1832 Asset Management U.S. Inc.; Scotia Wealth Insurance Services Inc.; and ScotiaMcLeod®, a division of Scotia Capital Inc. Wealth advisory and brokerage services are provided by ScotiaMcLeod, a division of Scotia Capital Inc. Scotia Capital Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.