Ted Pollock Fiscal Fitness Assessment by scockhill@wealthstewards.ca | Aug 21, 2020 | 0 comments Directions: The statements below will help you to think about and assess how satisfied you are with many aspects of your financial life. Please mark your level of satisfaction for each statement. First Name Last Name Email Address Phone Number Are you currently in contact with a Wealth Stewards advisor? If so please enter their name. What are the top three financial matters that keep you awake at night or that you consider top priorities? Risk Management I am confident that we have the appropriate level of risk in our portfolio and that we’re getting sufficient return for that level of risk.AgreeSomewhat AgreeSomewhat DisagreeDisagree We have a process in place to review non-portfolio risks that could impair our wealth.AgreeSomewhat AgreeSomewhat DisagreeDisagree We have reviewed our life, disability, critical illness and long-term care insurance policies in the past year to ensure they cover our significant risks and still needed.AgreeSomewhat AgreeSomewhat DisagreeDisagree We have reviewed our property, casualty and liability insurance in the past year to ensure we have the appropriate coverage.AgreeSomewhat AgreeSomewhat DisagreeDisagree Investments I completely understand my overall investment strategy and can explain it in a few simple sentences.AgreeSomewhat AgreeSomewhat DisagreeDisagree I know what rate of return we need from our investments to meet our family’s key objectives.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am confident that our asset allocation meets risk and return expectations.AgreeSomewhat AgreeSomewhat DisagreeDisagree We have a written Investment Policy Statement for our overall investment portfolio that clearly lays out the objectives, limitations, review process and accountability.AgreeSomewhat AgreeSomewhat DisagreeDisagree Our investments have been objectively reviewed recently and I am confident we have the right ones in place and in the right combinations.AgreeSomewhat AgreeSomewhat DisagreeDisagree Tax Planning and Structuring I am confident that we are taking advantages of all the tax efficiencies available to us.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am confident that my assets are appropriately positioned to take advantage of tax savings opportunities.AgreeSomewhat AgreeSomewhat DisagreeDisagree I understand how the use of a trust or other tax structures could decrease the amount of tax we pay.AgreeSomewhat AgreeSomewhat DisagreeDisagree I fully understand the tax implications of any foreign assets we own (e.g. real estate, securities etc.) and have protected ourselves accordingly.AgreeSomewhat AgreeSomewhat DisagreeDisagree Estate Planning and Succession I have a clear idea of our estate objectives and how much our heirs will receive after taxes and when.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am confident that I have a plan in place that will minimize taxes and probate fees in the event of my death.AgreeSomewhat AgreeSomewhat DisagreeDisagree Our wills and powers of attorney for financial and health care purposes are current, properly executed and available for your executors when needed.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am confident that I have the most appropriate people to act in my best interests as Financial Power of Attorney; Personal Power of Attorney and Executor(s).AgreeSomewhat AgreeSomewhat DisagreeDisagree Organization and Planning Our financial affairs are well-organized and in good order.AgreeSomewhat AgreeSomewhat DisagreeDisagree I can safely say that very few financial details fall through the cracks in my life.AgreeSomewhat AgreeSomewhat DisagreeDisagree Our personal financial situation is straightforward, I enjoy managing it and I feel I am doing a good job.AgreeSomewhat AgreeSomewhat DisagreeDisagree We have a document records system that allows us (or our loved ones) to quickly put our hands on whatever we need.AgreeSomewhat AgreeSomewhat DisagreeDisagree I receive regular, easy to understand, consolidated reporting on all our family holdings across all of our entities and family members.AgreeSomewhat AgreeSomewhat DisagreeDisagree Cash Flow Management I have calculated how much capital I will need to be able to retire and to maintain our standard of living.AgreeSomewhat AgreeSomewhat DisagreeDisagree I know what our family expenses and capital needs are and feel confident that they are reflected in my wealth plan.AgreeSomewhat AgreeSomewhat DisagreeDisagree I have a game plan in place to prepare for a liquidity event, such as sale of my business or property, receiving my deferred compensation or cashing in my shares or partnership interests.AgreeSomewhat AgreeSomewhat DisagreeDisagree Family Wealth Issues Our family has open and healthy dialogue about money and financial issues.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am confident that my spouse and children will be able to manage if something happens to me.AgreeSomewhat AgreeSomewhat DisagreeDisagree I am confident that our family net worth is not likely to be at risk if one of my children gets divorced.AgreeSomewhat AgreeSomewhat DisagreeDisagree I feel confident that our children are financially well-educated and sufficiently responsible to inherit the assets that are likely to be left to them.AgreeSomewhat AgreeSomewhat DisagreeDisagree Advisors Please rank how confident you are that you have an advisor who is knowledgeable, objective and committed to your best interests in the following areas: Goal Setting & Financial Planning25%50%75%100% Investment Management25%50%75%100% Estate Planning & Management25%50%75%100% Tax Minimization Planning25%50%75%100% Insurance Strategies25%50%75%100% Which of the following options you would consider a top Priority (You may select more than one) Goal Setting & Financial Planning Investment Management Estate Planning & Management Tax Minimization Planning Insurance Strategies Time is Up! Time's up Submit a Comment Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.
Recent Comments