What is a Wealth Consultant?

A firm that offers a process towards successful investing not just products. It acts as a personal CFO to those with wealth who have accumulated assets but do not spend the time or energy to seek out and assess the numerous financial opportunities available. A wealth consultant works with a team of best-in-field professionals to oversee and manage the best investment strategy that fits the clients risk profile and goals.

A wealth consultant provides unbiased advice and objectivity and is a valuable resource with a mission of helping clients pursue and achieve their financial dreams while overseeing the integration and coordination of both the client’s existing team of professionals with those of the wealth consultant.

Do you need a Wealth Consultant?

Most successful businessmen and professionals have covered the basics of financial planning. You likely have a will, an RSP and purchased life insurance at some point. Along the way various individuals sold you products, but no one person took on the role of Quarterback, leaving you with a non-integrated plan. If you desire a more “customized” financial approach then you should consider a wealth consultant. Our self-assessment questionnaire can help you identify and assess the needs of your business and your family.

GBK Strategic Financial Partners self-assesment questionnaire is a good place to start when considering engaging and reviewing your family's broader financial picture. It will help you assess the degree to which you have a handle on your financial affairs and where you may need some help getting and keeping them in good order - for your own sake and for your family.

  Organization and Planning
 Yes No Not Sure I know what my family's long term goals are and can quantify them.
 Yes No Not Sure I receive regular, easy to understand, consolidated reporting on all our family holdings across all of our entities and family members.
  Investments
 Yes No Not Sure I know what rate of return we need from our investments to ensure we meet our family's objectives over the long run.
 Yes No Not Sure I am confident that our asset allocation is appropriate.
 Yes No Not Sure We have a written Investment Policy Statement for our overall investment portfolio that clearly lays out the objectives, limitations, review process and accountability.
  Risk Management
 Yes No Not Sure I am comfortable that we have the appropriate level of risk in our portfolio.
 Yes No Not Sure We have a regular, consistent review process in place to evaluate the success of our investments and other financial issues against relevant benchmarks.
 Yes No Not Sure I understand all our insurance policies and am confident that they are appropriate and up-to-date.
  Tax Planning and Structuring
 Yes No Not Sure I am comfortable that we are taking advantage of all the tax efficiencies available to us.
 Yes No Not Sure I am confident that the tax location of our investment assets is optimal.
  Estate Planning and Succession
 Yes No Not Sure I have a clear idea of our estate objectives and how much our heirs will receive and when, and am comfortable with the amounts they will receive.
 Yes No Not Sure Our wills have been updated in the past three years. We have properly-executed powers of attorney for financial and health care purposes.
 Yes No Not Sure I feel comfortable that our children are financially well-educated and sufficiently responsible to inherit the assets that are likely to be left to them.
  Cash Flow Management
 Yes No Not Sure I know exactly how much capital I will need to maintain our standard of living.
 Yes No Not Sure I know what our family expenses are and feel that they are manageable over the long term.
 Yes No Not Sure I have a game plan in place to prepare for a liquidity event, such as retirement.
  Family Issues
 Yes No Not Sure Our family has frequent, open, healthy dialogue about financial issues.
 Yes No Not Sure I'm comfortable that my spouse and children will be able to manage without me.
  Advisors
 Yes No Not Sure I have an advisor who is knowledgeable and objective regarding all of the issues above.
 Yes No Not Sure My advisor is proactive and regularly anticipates the key issues that need attention in my life.
 Yes No Not Sure I know all the fees we are paying to our advisors and understand the value we receive and the impact on our net worth.

Benefits of a Wealth Consultant

  • Integrated and coordinated approach to financial planning
  • Customized planning
  • Team of dedicated professionals working together
  • Access to best-in-class opportunities