06/01/2026
I'm doing a lot more Fee-Only Planning these days and people often ask me "why would I pay out of pocket when it should be included in my Advisory Fees?" This is an interesting topic.
Yes, Advisory Fees should include Financial Planning advice, assuming you don't have an Investment Only plan, Group Plan, or self-directed account. Some people like to get a 2nd opinion if they wonder if their advisor is truly acting in their best interest as a client.
Other reasons include:
-those with most of their assets in Real Estate. Still need advice, but may not have enough investable assets to get a Certified Financial Planner do a plan for them
-those with self-directed accounts who don't want to pay Advisory Fees and would rather continue to buy/sell stocks themselves
-those with pensions who may have pension options they want advice on and may not have much outside of the pension to qualify for a plan through the typical Advisory Fee Model
A Comprehensive Financial Plan covers things like When can I retire, when should I take CPP, what affect does selling a rental property have, are there Estate Planning recommendations, can I adjust my investments to be more tax efficient? It can be simple like donating securities in kind to reduce capital gains, or more complex to include Corporations, Trusts, and insurance tax shelters. Often there are 2 scenarios like retire now vs retire in a couple years and the effect on pensions, investments, taxes and cash flow.
There aren't very many companies who offer a truly un-biased Fee Only plan where you take the recommendations and implement them at the institution of choice.
Questions? Please reach out.
https://newoutlook.ca/advice-only/
