Kirkby Wealth Advisory Group - Financial Planning

Puzzle Piece Two: Financial Planning

Financial Planning:

Financial Planning is often a buzzword.

So what exactly does Financial Planning mean to the Kirkby Group and how do we differ from other teams?

We believe that truly effective financial planning is about much more than numbers on a page - it’s about understanding your life, your priorities, your fears, your unique family dynamics and your vision for the future. While many institutions offer generic, one-size-fits-all plans churned out from a template, our approach is fundamentally different and deeply personal. We have a dedicated seven-person team, including two full-time CERTIFIED FINANCIAL PLANNER® professionals, focused exclusively on creating, developing, updating, and maintaining comprehensive financial plans for our clients. Our financial plans are provided as a value-added service, included in our management fee, because we believe they are essential and foundational to your financial well-being. We encourage every client to participate in our tailored planning process, as it is fundamental to how we fully serve your needs.

Your Personalized Blueprint + Cashflow Projections

Every client receives a personalized database we call their Blueprint. Think of your Blueprint as a living document - continuously updated with relevant information as your life evolves. This comprehensive resource brings together all the pieces of your financial puzzle, allowing us to fully assess and support your entire situation.

Your personal Blueprint includes details such as your family tree, personal and corporate assets and liabilities, insurance coverage, trusts, corporate structures, income, goals, concerns, past achievements, and all other relevant information. By organizing this data in a clear and logical manner, we are able to review each aspect step by step, ensuring that no detail is overlooked and every part of your financial picture is thoroughly considered. We leave no stone unturned.

So, what's next? Once we establish a solid foundation with your Blueprint, we input all of your information into our powerful planning software. This allows us to generate meaningful cash flow projections and explore a variety of “what if” scenarios tailored to your unique situation.

We then meet in person to walk through every page of your Blueprint together, engaging in open discussions about each aspect of your financial picture. Together, we review how your personalized inputs shape the cash flow projections and discuss potential strategies moving forward.

"WHAT IF...!?" Scenarios:

"What If...?" Scenarios - This is often the stage where clients feel the most excitement - aside from the peace of mind, improved sleep, and sense of financial security that comes with having a comprehensive plan. With your personalized Blueprint and financial plan in place, you gain valuable insight into how different decisions can impact your financial situation both now and in the future. This clarity empowers you to make informed, confident choices about your next steps.

**Some common “what if” questions we explore with clients include:**

What if I decide to retire earlier than planned?
What if I purchase a second property?
What if I increase my charitable giving?
What if I want to travel extensively in early retirement while I'm healthy and vibrant?
What if I sell my business?
What if there is a change in my family situation?
What if I want to help my children or grandchildren financially?

By modeling these scenarios together, we help you understand the potential outcomes and guide you in making decisions that align with your goals and values. Your financial plan evolves with your life.

How we stay transparent:

Each financial plan begins with a review of your “Achievements and Continuing Goals” page. Together, we reflect on your progress—where you’ve been, where you’re headed, and how that aligns with the milestones you set. This step ensures we recognize your accomplishments and keep your future goals in clear focus as we move forward with your planning.

Each financial plan concludes with an action plan that we will facilitate and follow up on with you.
We recommend we update, review and monitor your plan every 2 years, unless the need arises sooner.

Other Key Areas Covered in Comprehensive Financial Planning

Estate planning: We discuss all relevant legal documents to ensure they are current and accurately reflect your wishes. We have trusted lawyers we can refer to for additional assistance. Our goal is to provide you with peace of mind, knowing your estate is structured according to your intentions. We also work closely with our CIBC Trust and Estate Planning partners.

Tax planning: We work closely with your accountant to ensure tax-efficient investing is always a top consideration. We have a network of trusted accountants we work with if you require their assistance.

Retirement Planning: Retirement is a significant life milestone, both emotionally and financially. We help you assess whether you are financially prepared for retirement and support you through the emotional aspects of this transition. Our advisors have guided many clients through this important stage, offering insight and reassurance every step of the way.

Family Planning: Did you know that our clients can bring their children and family members onboard to receive all our services at their same low fee rate? This includes financial education to help them get an early start, as well as comprehensive financial planning, investment management, and more. We are committed to supporting your family’s financial well-being across generations.

Intergenerational Wealth Transfer: We work closely with you to develop strategies that facilitate the smooth and tax-efficient transfer of wealth to the next generation. Our approach ensures your legacy is preserved and your wishes are honored, while also preparing your heirs to manage their inheritance responsibly. We guide families through important conversations and planning steps, helping to minimize potential conflicts and maximize the long-term impact of your wealth.

Business Succession Planning: If you are a business owner, planning for the future of your business is essential. We help you design and implement a succession plan that aligns with your personal, family, and business goals. Whether you intend to transition ownership to family members, key employees, or an outside party, our team provides the expertise and support needed to ensure a seamless and successful transition.

Philanthropic Solutions: Giving back can be a meaningful part of your financial plan. We offer guidance on philanthropic strategies that align with your values and maximize the impact of your charitable giving. Whether you are interested in establishing a family foundation, creating donor-advised funds, or supporting specific causes, we help you structure your giving in a way that is both tax-efficient and personally fulfilling.

Special Situations: Addressing unique circumstances such as blended families, cross-border considerations, or complex estate issues is a normal part of our services.

Major Purchases and Lifestyle Planning: We can provide valuable guidance on significant financial decisions, such as buying property, travel, or other lifestyle goals. Health Care and Long-Term

Health Care and Long-Term Care Planning: We can help assess your family member's future health care and housing options, including in-home care, retirement residences, and supportive living facilities, and plan for the associated costs of funding potential long-term care.

Risk Management: Together with our Estate Planning partners, we can provide a comprehensive insurance needs assessment, to ensure you and your family have the appropriate level of coverage to protect you and your family from unforeseen event and financial risks.

Cash Flow and Debt Management: Through our financial planning, we provide a detailed analysis of income, expenses, and debt to ensure financial stability and efficiency throughout your life.