Q3 2022 Preparing for Client Meetings (Advisor Dashboard)

With cooler weather arriving, people are spending more time indoors - and they have more time to think about their finances.

It's also the time of year when many of your clients with school-age kids will be looking ahead to the post-secondary school years and the financial obligations involved. That's why our GP Wealth Guide is focused on the topic of education planning and RESPs.

This a good opportunity for you to do some education planning with your clients using the Wealth Plan application. If you require training or a just refresher on using the application, contact our expert, Alex Gubanov at advisorservices@gpwealth.ca to set up a TEAMS session.

Other resources:

Markets continue to be volatile with uncertainty around inflation and rising interest rates being of much concern. 

How can you help your clients during these times of volatility?

There are opportunities in every economic environment, and here are a few ideas:

  • Take advantage of high GIC Rates. Interest rates on a GIC have become much more attractive. As of September 30th, 1-year rates were 4.43%. Consider allocating a portion of your clients' portfolios into a short-term GIC.
  • If you don't want to lock money up for a year, consider parking it in a high interest rate account or money market fund.
  • If you have a client with a lump sum to invest but is nervous about current market volatility, many of the fund companies offer the opportunity to dollar-cost-average (DCA) by investing the lump sum into a money market fund, and then setting up a systematic switch into the fund(s) intended for longer term growth. DCA is a great strategy for down markets.

With statements coming out soon, no doubt your clients will be open to meeting and discussing their portfolios. Take charge by having frank conversations and offering options. This is exactly where your expertise and cool head becomes your value-add to the relationship. Your clients are looking for guidance, and it's very important that you are their source, not the internet or another competitor promising better returns.

Here are some additional resources you can share with your clients: