Retirement Planners

[kaput]

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[imranm]

As a Financial Advisor, I would recommend you split the two up. Its better to have two experts on different subjects otherwise your real option is to sit down with a branch level banker, as they tend to be the only ones who do mortgage and investment advise, and its very "cookie cutter".

Get a good mortgage broker to help on the lending side of things who can discuss with them restructuring mortgages, loans, and other debt. Maybe contacting Tim on Beyond would be a good start?

On the retirement planning side of things, feel free to contact me if you'd like, I can give you some insight into to my services if they might fit what your parents are looking for.

[Prail]

Look up Diane Dekanic.

Awesome planner and fits exactly what you are looking for... Fee for service, doesn't have any products to sell you.

[ExtraSlow]

Agree you should split up the mortgage and loan issues from the retirement advice.

Also interested to know a typical fee for this type of service.

[kaput]

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[mazdavirgin]

Originally posted by kaput
I've included the mortgage because I don't think they can afford to keep the house, and part of the retirement plan might require accepting that and downsizing sooner than later. That's the issue that prompted this. They are unwilling to share much information or discuss it with me which is why I need an independent third party to offer unbiased advice. Does that change the type of person I am looking for?

If they have sufficent assets as in over a million between investements and other assets. You can deal with fee based wealth planning arm of TD. Parents are doing that whole thing right now as they plan for retirement it's fee based and not commision based which is what is important.

https://www.td.com/ca/products-services/td-wealth/services/private-wealth.jsp

[Xtrema]

Originally posted by kaput
My parents are approaching retirement and I have reason to believe they are not ready. I am looking for a retirement planner who can review their entire financial situation and provide objective feedback about their future. I'm not looking for a branch level person or someone who has an incentive to sell investment products like RRSP's.

This isn't rocket science unless you have a lot of different type of assets. Are they not taking your advices? Or are you looking for a 3rd party to whip them into shape?

General good thing to do are (for most, not well off people):

1) Mortgage free before going into fixed income

2) Blow most of your RRSP before 71 and it turns into RRIF. Convert to TFSA if possible.

3) Take CPP early at 60. Try to structure for obtaining GIS if possible.

4) Prepare to sell home to fund assisted living down the road.