The following is our financial planner engagement agreement, please read, e-sign in the space bellow and submit. You will receive an email with a copy of the agreement and e-signature.
We are looking forward to working with you in helping you design your own personal financial plan. The personal financial planning process is complex. It is an important step toward achieving personal financial goals.
This letter is to confirm our mutual understanding of the terms and objectives of our engagement to provide you with personal financial planning services as well as the nature and limitations of the services we will provide.
You will prepare your own personal financial plan after consideration of your financial objectives and goals and your present and forecasted financial situation. Our services will encompass the following activities
• Cash flow planning
• Risk management and insurance planning
• Retirement planning
• Investment planning
• Estate, gift, and wealth transfer planning
• Elder planning
• Charitable planning
• Education planning
• Tax planning
The personal financial planning process requires your cooperation in providing us with various types of information and documents concerning your personal financial situation. We will be relying on your representations. If we are unable to obtain from you sufficient information to form a reasonable basis for conclusions and recommendations, our services in connection with this engagement may be limited to those matters for which sufficient information is available, and this may affect our conclusions and recommendations. Should this be the case, we will so advise you in writing.
If we are unable to obtain sufficient information to proceed with the engagement as contemplated and agreed, we will advise you and, as appropriate, discuss terminating or modifying the engagement with you. If we agree to modify or terminate the engagement, we will communicate that to you in writing.
If your personal information needs to be disclosed when working with your other advisers or with other qualified professionals your information will be treated as per terms and conditions presented in the www.savetips.ca website.
Description of the Engagement
Our approach to the personal financial planning process will proceed as follows:
• The initial phase involves accumulating and organizing facts about your current and desired
financial status and identifying your specific goals and objectives. This will be accomplished through a series of interviews and the data-gathering questionnaire and use of our knowledge of you from prior services.
• The next step involves analysis of the data accumulated and a review with you of your cash flows.
• Following this review and further analysis, we will then make our preliminary recommendations.
• We then will finalize your plan and set time goals and establish responsibilities for the implementation of the plan. We will prepare specific recommendations that will seek to address your financial goals. When appropriate, we will include financial illustrations andprojections for greater understanding of potential outcomes of financial alternatives.
We are available to assist you in implementing the actions and strategies agreed upon as you deem
appropriate. The nature and extent of our implementation services will be established at that time.
Implementation of your plan is a separate engagement.
Our approach to the personal financial planning process will include the following steps:
• We will schedule a preliminary meeting to assist you in defining short-term and long-term goals and to gather information about your family situation and major anticipated financial obligations.
• In addition to the quantitative data requested in our financial planning questionnaire we will require copies of all pertinent documents, such as wills, trusts, investment holdings (and their cost bases), personal employment benefit statements, government benefit statements, prior tax returns, and insurance coverages.
• We may require access to and discussions with your accountants, lawyers, insurance advisors and other advisors or salespeople.
• After the information has been received, we will organize and review the data. We will analyze the quantitative information relating to tax liability (both income and estate), cash flow, net worth, risk management, and retirement. This should enable us to make appropriate projections with respect to your financial plan.
• Subsequent meetings may be required to verify the accuracy of the data and to allow you to validate the assumptions used in the projections. Our analysis and recommendations are based on information you provide, and it is essential that we receive correct information.
• Based on our analysis of the data, we will outline alternative strategies or courses of action to meet your immediate and long-term goals and objectives and to mitigate problems uncovered.
• At the conclusion of the engagement, we will prepare and discuss with you a report that includes our recommendations and projections.
We are available to assist you in implementing the actions and strategies agreed upon. The nature and extent of our implementation services will be established at that time. Implementation of your plan is a separate engagement.
In order to ensure that your personal financial plan contains sound and appropriate financial planning recommendations, it is your responsibility to provide complete and accurate information regarding all aspects of your personal and financial situation. Responsibility for financial planning decisions is yours.
We will aid you in the decision-making process, suggest alternative recommendations to help you achieve your objectives, and assist you in determining how well each alternative meets your financial planning objectives.
The suggestions and recommendations included in your personal financial plan will be advisory in nature, and we cannot guarantee the performance of any investment or insurance products that may be purchased to implement recommendations in your plan. The plan will also include financial projections based on assumptions about future events. We cannot vouch for the achievability of such projections because the assumptions about future events may not prove to be accurate.
If in the course of this engagement we become aware of a service needed to complete the engagement that we do not or will not provide, we will advise you of that needed service and recommend to you i that you engage another service provider to address that service. If you decline to engage such recommended service provider, and we determine that such action impairs our ability to properly address the terms of this engagement, we will so advise you, in writing, and terminate this engagement. If you decline to engage such recommended service provider and we determine that our ability to properly address the terms of this engagement is not impaired, but may be limited in some way, we will advise you, with respect to how we believe our conclusions and recommendations may be affected.
We cannot be responsible for the acts, omissions, or solvency of any broker, agent, or independent contractor or other advisor or professional selected to implement any part of your personal financial plan. Our services are not designed, and should not be relied upon, as a substitute for your own business judgment nor are they meant to mitigate the necessity of your personal review and analysis of a particular investment. Our services are designed to supplement your own planning analysis and to aid you in fulfilling your financial objectives.
In addition, these services are not designed to discover fraud, irregularities, or misrepresentations made in materials provided to us concerning your potential investments or insurance coverages.
Other Service Providers
In the event we refer you to another service provider, we will not disclose to you, any compensation we receive for making such a referral. We will not evaluate the work performed by the referred service provider.
Description of Fees
Our estimated fee for the services previously described will be $49.99. We will submit our bill online for you to pay.
Plan implementation as well as plan monitoring and updating, if needed, are separate engagements.
If you choose one of these additional services these services will be billed separately.
Conflicts of Interest
We have a conflict of interest in the event that we refer you to a service providers for a fee and we are not required to disclose such a fee.
You will, of course, be free to follow or disregard, in whole or in part, any recommendations we make.
You are under no obligation to act on any recommendation. Because you did not engage us to assist you with the implementation of your personal financial plan, we cannot be responsible for any decisions you make regarding implementation of the recommendations. At your request, we will be happy to coordinate implementation, as a separate engagement, with any insurance broker, investment broker, attorney, or other professional of your choosing.
We will be pleased to discuss this letter with you at any time. If the foregoing is in accordance with your understanding, please sign one copy of this letter in the space provided and return it to us. The additional copy is for your files.
This engagement may be terminated without penalty or further obligation except for the payment of fees for services performed and expenses incurred prior to termination.
We agree that we will not assign this engagement without your prior written approval.
If we can be of assistance to you in any other way, please do not hesitate to contact us. We look forward to helping you develop and maintain a sound, businesslike approach to your personal financial affairs.
We thank you for the opportunity to be of service. We anticipate beginning the engagement sometime after you sign and date this agreement. If you have any questions, please call us at 289-856-8397
Very truly yours,
Santiago Garcia – Finmarket Inc.
We agree to the terms of the engagement described in this letter.