Danielle Kubes, Special to Financial Post
The TFSA is new enough that Canadians haven’t had time to experience …
Macdonald, Shymko & Company Ltd. (MSC) is a boutique Fee Only Financial Advisory and Portfolio Management firm that that cares about and passionately focuses on the achievement of our clients’ personal and financial goals. We provide comprehensive personal Financial Planning and Portfolio Management for a select number of clients who are committed to achieving their goals.
We do not sell products or receive commissions or other compensation from third parties. You are the only person who pays for our advice; therefore, you can trust that our suggestions and guidance are objective and in your best interest, which is essential for your peace of mind.
Please refer to our Fee Only section of the website for a more detailed description.
While the majority of our new clients are referrals from our existing clients and from our network of trusted professionals, we would be happy to speak with you to determine if we could be of value. If you become a MSC client, it is our goal that you will be so pleased with the quality and integrity of the services provided by our Fee Only Financial Advisors and Planners that you will refer your family and friends.
No. While the majority of our clients are located in B.C.’s lower mainland, many reside in Alberta, Ontario and Internationally. Our Portfolio Managers are registered with the B.C., Alberta and Ontario securities commissions.
It is inspiring to see the positive impact we have on people’s lives. We feel personally rewarded while engaging in long-term partnerships providing comprehensive Fee Only Financial Advisory services. However, in some cases we provide one-time Financial Checkups or Specific Review Engagements. Clients determine the nature and scope of services we provided based on their needs and goals.
Our typical client relationship begins with an Exploratory Meeting with one of our Fee Only Financial Advisors, which is set up through your initial telephone/email contact. The MSC Exploratory Meeting Form will need to be downloaded and completed in advance of the meeting. During the meeting, we will review and discuss your questionnaire and assess whether or not MSC’s services are appropriate for your situation and whether or not we are a fit for you. We only work with people that we can provide value to on a short-term or long-term basis and appreciate the role we can play in enhancing their peace of mind and goal achievement. It is our goal that our relationship becomes one that lasts a lifetime.
Once the decision has been made to enter into a client relationship, the Discovery Phase (LINK) begins. This is aided by a comprehensive questionnaire. This is an essential component of the process as it provides us the basis from which to analyze your situation and provide recommendations. We need accurate, detailed information from you, so that we can provide you with the best options to achieve your goals. Once we have collated all the relevant information, the typical next stage is to provide the Financial Plan based on our analysis of your situation and your desired goals and objectives.
This varies greatly depending upon the time it takes you to provide us your data, the workload from our current client base and the complexity of your situation. An estimate of time can be provided at our initial consultation once we get a better sense of your personal and financial situation, as well as your ability to provide us with the necessary information to perform our analysis.
After the Financial Plan review meeting, we typically move into the Portfolio Management process where assets are transferred to our third party custodian for portfolio implementation. Any follow-up analysis or implementation items will also be followed through to completion; this may include referral and consultation with an insurance professional or estate planning lawyer. We are happy to work with your current relationships or can provide suggestions through our professional network of lawyers, accountants, and insurance and investment professionals. The Plan, and any required adjustments, will be reviewed and modified at least on an annual basis.
With a Financial Plan in place, our clients feel confident that they can make informed decisions about their future and have a clearly outlined pathway to reach their goals. Enhanced peace of mind is achieved.
Macdonald, Shymko & Company Ltd. (MSC) is registered as Portfolio Managers with the BC, Alberta and Ontario Securities Commissions. All of our Fee Only Financial Advisors are registered to provide securities advice on a discretionary or non-discretionary basis. Our Fee Only Financial Planners are not able to provide securities focused advice.
Our Fee Only Financial Advisors have been providing comprehensive financial planning and asset allocation advice since 1972, and have been recommending exchange-traded assets since 1990 when they were launched in Canada. All of our Fee Only Advisors hold the R.F.P. (Registered Financial Planner) designation. The R.F.P. designation is the preeminent professional financial planning designation in Canada and is awarded by the Institute of Advanced Financial Planners (IAFP). As Members of the IAFP, we are bound by a strict Code of Ethics, which requires us to put our clients’ interest above our own (a fiduciary relationship). R.F.P.s are the only financial planners in Canada that have prepared a comprehensive financial plan reviewed and approved by their peers.
All client portfolios are implemented through a third party custodian once we have developed the applicable portfolio for your unique situation. Our investment philosophy is based on an Asset Class approach.
For Financial Planning, our fees are assessed based on the time it takes to provide you with the required services. Each of our client situations is unique, so it is a hard question to answer without a review of your situation. An estimate of costs can be provided after our Exploratory Meeting. Usually the first year is the most time intensive, as we get to know you and formulate the solutions for goal achievement. A typical comprehensive financial planning process (Discovery Phase through Financial Plan delivery) can range in cost between $4,500 and $8,000 depending on the complexity of the situation. Ongoing financial planning fees are dependent upon the level of involvement requested and required. All clients pay an annual Retainer fee. Typically, some portion of our fees are tax deductible.
Portfolio Management fees are based on the value of assets managed and we would be pleased to provide a schedule.
The base Retainer is an annual fee valid for a one-year term and is renewable for another year if mutually agreeable. Being in receipt of the base Retainer, we accord you preferential call on the service capacity of our firm. The nature of our service is anticipatory, and the advice is based on a comprehensive information gathering facility. To remain informed, we apply the base Retainer toward:
- Analyzing and researching new concepts in various fields of financial activity.
- Monitoring attitudes and activities in governments.
- Establishing and maintaining a rapport with other professionals within the business community.
- One hour of your annual review meeting.
- Enhanced productivity
- A sought-after tax-free benefit that attracts desired executives
- Improved understanding of company benefits and pension
- Stock option strategic planning
- Financially secure employee, better able to comprehend retirement options
- Reward for those who have numerous responsibilities
- More tax effective than salary increases
- Enhances image of company
- Confidentiality is maintained
Question #15: In one sentence, what do you do for us as clients?
We help you achieve “Peace of Mind”.
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