The idea for this column came from the news that Prime Minister Carney is considering whether Canada should join the European Union. This would be a strategic move to further develop our European relationships and to lessen our reliance on the United States.
Sometimes, a new direction with new partners is beneficial.
For those who rely on others to help them manage their finances, you might need to consider whether your current team is sufficient. Should additional people be added to your network, or should some current advisers be replaced?
Personal financial advisers can include a financial planner, an investment advisor, a lawyer, and an accountant. Do you have the best team to support you?
Their role is to advise. Your role is to determine the best group of advisers based on the advice you need. That is your decision, and yes, it can be difficult, but again, it is your decision.
Once your financial team is set, your next objective is to lead the team by deciding on which issues you want advice on. For example, if your personal circumstances change, that could influence your will. It is your job to contact your lawyer to see if your will should be adjusted.
Do you need to make any adjustments to your financial team of advisers?
Peter Watson, of Watson Investments MBA, CFP®, R.F.P., CIM®, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contacted through www.watsoninvestments.com.
