Dave Lee

Where does family fit in your financial plan?

More than fancy math, a great plan centres on you and those you love

When you picked up the phone to connect on Family Day, who did you call? When you reflect on your favourite Thanksgiving, who’s sitting around the table? Where do those people fit in your financial plan?

When Scotia Wealth Management Senior Wealth Advisor Dave Lee asks about your family he’s not just making small talk — he’s finding out your goals.

“I love crunching numbers, comparing insurance policies and studying investment options, but a good financial plan is only effective if it suits the people it’s designed for,” he says.

Just like the word ‘family’ means different things to different people, the ‘best’ wealth strategy is different for everyone.

“My goal is to understand the dynamics of your specific situation, and tailor a solution that works for you.”

Who are the most important people in your life? Who are we planning for?

Two clients at similar life stages and with similar net worth may have very different goals.

One retiree with kids and grandkids may be highly motivated to ensure the financial wellbeing of their family. They may worry about a child going through a messy divorce or a grandchild living with a disability. Another retiree with no spouse or children may worry more about what will happen if they lose mental or physical capacity.

“I also like to ask clients, ‘Whose financial decisions will impact you?’ As people live longer, retirees are often caring for elderly parents, and these ‘kids’ may be in their 70s when receiving an inheritance from parents in their 90s.”

Family relationships can get complicated or strained, but after years in financial planning Dave has pretty much seen it all.

“When it comes to big life events like a death in the family or downsizing a house — I’ve seen it before and therefore can walk people through a process that leads to smart decisions.”

Who’s on your team?

When you work with Dave, your family matters. And he’ll also introduce you to the Scotia Wealth Management ‘family’ of in-house specialists. The Team includes Estate and Trust Consultants, Private Bankers, Insurance Consultants, Business and Family Wealth Specialists and other professionals who consider every facet of your life and are ready to help with your Total Wealth Plan.

Do you have a favourite accountant you’ve trusted for decades? Want to include the Family Lawyer in your plans? Dave will work with them too, giving you the best chance at reaching your goals. It’s all in the family!

Call 604.535.4743 to book an appointment with Dave Lee in White Rock, or email dave.lee@scotiawealth.com to discuss investments, life insurance, retirement planning, estate planning, generating income and minimizing your taxes. Follow him on Facebook, Twitter and Linkedin for more financial insights.

ScotiaMcLeod, a division of Scotia Capital Inc.

Financial planning