Questions

1. What kind of a company is Macdonald, Shymko & Company?
    
2. What does "fee only" mean?
    
3. What is the typical cost of your services?
    
4. What do you mean by "Retainer"?
    
5. How are you qualified to provide me with advice?
    
6. Do you have to live in the city where your office is located to be a client?
    
7. How would we start working together?
    
8. What happens next?
    
9. How long does it take to prepare a plan?
    
10. Will you help me implement my plan?
     
11. Are all your client relationships long-term in nature?
     
12. What are the benefits of your Corporate Sponsorship program?
     
13. In one sentence, what do you do for us as clients?

 
Question #1: What kind of a company is Macdonald, Shymko & Company?
Macdonald, Shymko & Company is a Comprehensive, Independent, Fee Only Financial Advisory Firm focusing on personal financial planning and investment counsel including:

• Investment Analysis
• Strategic Asset Monitoring
• Income Tax Planning and Preparation
• Small Business Planning
• Risk Management
• Cash Management
• Estate Planning
• Retirement Planning

We provide these services to individuals, couples and families. In some cases our clients receive the services through a Corporate Sponsorship Program.

... back to top
 

Question #2: What does "fee only" mean?
We do not sell products or receive commissions or other compensation from third parties, which could bias our recommendations. Thus, you can trust that our suggestions and advice are objective, which is essential for your peace of mind. Fee Only advisors are sometimes called Fee-For-Service advisors. Please refer to our Fee Only section of the website for a more detailed description.

We work for our clients, who pay for services based on hourly rates, or through our Strategic Asset Monitoring program, where fees are assessed based on the assets invested.

... back to top
 

Question #3: What is the typical cost of your services?
For financial planning and investment advisory services, our fees are assessed based on the time it takes to provide you with the necessary service. Each situation is unique, as are all of our clients. An estimate of costs can be provided after our initial consultation. Typically the first year is subject to higher fees as we get to know you and provide recommendations for your situation.

Investment Counsel Services provided by way of our Strategic Asset Monitoring (S.A.M.) are based on a percentage of the assets in the program.

... back to top
 

Question #4: What do you mean by "Retainer"?
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 as informed as possible we apply the base retainer to:

• Analysing and researching new concepts in various fields of financial activity.
• Monitoring attitudes and activities in governments.
• Establishing and maintaining a rapport with other professional elements within the business community.
• Covers up to one hour of your annual review meeting.

... back to top
 

Question #5: How are you qualified to provide me with advice?
Our Advisors have a wealth of experience (Since 1972). Each of our Advisors hold the R.F.P. (Registered Financial Planners) designation or are working towards this goal. This is the preeminent financial planning designation in Canada and is awarded by the Institute of Advanced Financial Planners (IAFP), in which all of our advisors hold membership. 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).

Macdonald, Shymko & Company Ltd. is registered with the BC Securities Commission, the Alberta Securities Commission and the Ontario Securities Commission as Investment Counselors. Within the Macdonald, Shymko & Company Ltd., the following individuals are registered as Advisors and authorized to provide specific securities advise:

• David Shymko
• Doug Macdonald
• Larry Jacobson
• Ian Black
• Brinsley Saleken
• Gina Macdonald
• Keith Copping (BC Only, Not AB or ON)
• Ngoc Day (BC Only, Not AB or ON)

... back to top
 

Question #6: Do you have to live in the city where your office is located to be a client?
No, we have clients spread primarily throughout the Province of British Columbia, but also locations in Alberta, Ontario and elsewhere.

... back to top
 

Question #7: How would we start working together?
Our typical client relationship begins with an initial consultation with one of our Advisors, which is set-up through your initial telephone/email contact. This initial meeting is subject to a fee. Typically this meeting is to assess whether or not our Firm's services are appropriate for your situation. This is the first step in the data gathering process.

... back to top
 

Question #8: What happens next?
Once the decision has been made to enter into a client relationship the data gathering process begins. This is aided by a questionnaire that we have developed over our 29-year existence. This is an essential component of the process as it provides us the basis from which to analyze your situation and provide recommendations. Once we we have collated all the relevant information, the typical next stage is to provide written document based on our analysis of your situation and your desired goals and objectives.

... back to top
 

Question #9: How long does it take to prepare a plan?
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.

... back to top
 

Question #10: Will you help me implement my plan?
After our plan review meeting, should you require our assistance, we can be part of the implementation process. This may be through your current relationships, or our various contacts in the law, accounting, insurance and investment professions. Since the world is full of change, the implementation of the plan, and any required adjustments, will be reviewed on at least an annual basis.

... back to top
 

Question #11: Are all your client relationships long-term in nature?
No. In some cases we provide one-time Financial Check-ups, or Specific Review Engagements.

... back to top
 

Question #12: What are the benefits of your Corporate Sponsorship program?

• Enhanced productivity.
• Improved understanding of company benefits.
• Financially secure employee, better able to comprehend retirement options.
• Reward for those who have numerous responsibilities.
• A sought-after benefit that attracts executives.
• More tax-effective than salary increases.
• Enhances image of company.

... back to top