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. Agree Somewhat Agree Somewhat Disagree Disagree We have a process in place to review non-portfolio risks that could impair our wealth. Agree Somewhat Agree Somewhat Disagree Disagree 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. Agree Somewhat Agree Somewhat Disagree Disagree We have reviewed our property, casualty and liability insurance in the past year to ensure we have the appropriate coverage. Agree Somewhat Agree Somewhat Disagree Disagree Investments I completely understand my overall investment strategy and can explain it in a few simple sentences. Agree Somewhat Agree Somewhat Disagree Disagree I know what rate of return we need from our investments to meet our family’s key objectives. Agree Somewhat Agree Somewhat Disagree Disagree I am confident that our asset allocation meets risk and return expectations. Agree Somewhat Agree Somewhat Disagree Disagree We have a written Investment Policy Statement for our overall investment portfolio that clearly lays out the objectives, limitations, review process and accountability. Agree Somewhat Agree Somewhat Disagree Disagree Our investments have been objectively reviewed recently and I am confident we have the right ones in place and in the right combinations. Agree Somewhat Agree Somewhat Disagree Disagree Tax Planning and Structuring I am confident that we are taking advantages of all the tax efficiencies available to us. Agree Somewhat Agree Somewhat Disagree Disagree I am confident that my assets are appropriately positioned to take advantage of tax savings opportunities. Agree Somewhat Agree Somewhat Disagree Disagree I understand how the use of a trust or other tax structures could decrease the amount of tax we pay. Agree Somewhat Agree Somewhat Disagree Disagree I fully understand the tax implications of any foreign assets we own (e.g. real estate, securities etc.) and have protected ourselves accordingly. Agree Somewhat Agree Somewhat Disagree Disagree Estate Planning and Succession I have a clear idea of our estate objectives and how much our heirs will receive after taxes and when. Agree Somewhat Agree Somewhat Disagree Disagree I am confident that I have a plan in place that will minimize taxes and probate fees in the event of my death. Agree Somewhat Agree Somewhat Disagree Disagree Our wills and powers of attorney for financial and health care purposes are current, properly executed and available for your executors when needed. Agree Somewhat Agree Somewhat Disagree Disagree 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). Agree Somewhat Agree Somewhat Disagree Disagree Organization and Planning Our financial affairs are well-organized and in good order. Agree Somewhat Agree Somewhat Disagree Disagree I can safely say that very few financial details fall through the cracks in my life. Agree Somewhat Agree Somewhat Disagree Disagree Our personal financial situation is straightforward, I enjoy managing it and I feel I am doing a good job. Agree Somewhat Agree Somewhat Disagree Disagree We have a document records system that allows us (or our loved ones) to quickly put our hands on whatever we need. Agree Somewhat Agree Somewhat Disagree Disagree I receive regular, easy to understand, consolidated reporting on all our family holdings across all of our entities and family members. Agree Somewhat Agree Somewhat Disagree Disagree Cash Flow Management I have calculated how much capital I will need to be able to retire and to maintain our standard of living. Agree Somewhat Agree Somewhat Disagree Disagree I know what our family expenses and capital needs are and feel confident that they are reflected in my wealth plan. Agree Somewhat Agree Somewhat Disagree Disagree 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. Agree Somewhat Agree Somewhat Disagree Disagree Family Wealth Issues Our family has open and healthy dialogue about money and financial issues. Agree Somewhat Agree Somewhat Disagree Disagree I am confident that my spouse and children will be able to manage if something happens to me. Agree Somewhat Agree Somewhat Disagree Disagree I am confident that our family net worth is not likely to be at risk if one of my children gets divorced. Agree Somewhat Agree Somewhat Disagree Disagree 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. Agree Somewhat Agree Somewhat Disagree Disagree 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 Planning 25% 50% 75% 100% Investment Management 25% 50% 75% 100% Estate Planning & Management 25% 50% 75% 100% Tax Minimization Planning 25% 50% 75% 100% Insurance Strategies 25% 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. 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