2017 to date has been sadly marked by the passing of some very long-standing clients, friends and family. Individuals who profoundly shaped the way in which we relate to the people around us and the values we share. These people will be missed and remembered often. Changes Karen Backlun has left us to found her own firm and while she will be working out of her own location we plan to continue working collaboratively into the future. We applaud her entrepreneurial spirit and wish her the best in her future business life.
As we enter our 32nd year our philosophy and focus remains the same. “ Helping our clients achieve their goals in the most prudent and efficient means possible. “ At present “The media” seems to promote the view that “Doing it yourself “is within the capability of the average person when it comes to arranging their financial affairs. We beg to differ. Everyone is not created equal. Therefore our view and business practise includes a comprehensive financial plan based on a thorough analysis of the client’s needs and objectives. Our code of Conduct states that we hold our client’s interest first and that we hold ourselves to a high standard of advanced knowledge on areas such as taxation, insurance and investment planning, estate and succession planning as well as the plethora of financial products available to today’s consumers.
An area of significant concern at present is the whole idea of Tax Literacy “The average Canadian family now spends more of its income on taxes (42.5%) than it does on basic necessities such as food, shelter, and clothing combined (37.4%).” By comparison, 33.5% of the average family’s income went to pay taxes in 1961 while 56.5% went to basic necessities. Source “The Fraser Institute”
Tax Literacy has a large impact on how much Canadians pay in taxes. Not taking full advantage of all tax sheltering available, be it in RSP’s, RRIF’s, TFSA’s, RESP’s and tax sheltered permanent insurance means that we may be paying too much tax. Many individuals who qualify for some type of financial assistance are not receiving needed benefits because of their unawareness that these programs exist. As advisors we work for the client to obtain the best value for the money available to these people. We get a great deal of satisfaction using our knowledge of financial services to make a positive impact on our clients’ lives.
Fall is on us again. When we bought our farm we began gardening on a larger scale than what we could do in the city. Gardening is a labour of love and the satisfaction that we get harvesting the produce that we have cared for during the summer is one of life’s great joys. Gardening like saving is an act of optimism and trusting in the future.
Thank you once again for your trust and loyal support. We value our relationship and look forward to further discussion and reviews.
Sincerely,
Don, Mary Jane, Penney & Allison.