Fee For Service Financial Planning

Full Plan Update Agreement - Parallel Wealth Financial Group Inc.

This agreement is an extension of the original Advisory Service Agreement (or the original Letter of Engagement) and covers the following services:

The Full Update Service Agreement includes the following deliverables:

Our services offer a range of benefits to maximize your retirement outcomes. These include:

  • Plan Presentation scheduled as soon as your completed Client Update Form is received

  • Communication throughout the process, including any clarification required before your Plan Update is completed

  • Short “Plan Preview” Video about one week prior to Plan Presentation

  • 1-hour Plan Presentation with a CFPÂŽ Professional

  • Plan Delivery within one week of the Plan Presentation, with the following documents:

    • Complete Plan in PDF format highlighting key milestones,

    • Complete Plan in Excel format,

    • Retirement Guide,

    • Recorded Video Walkthrough of key areas in the three documents above, and

    • 3-month email support for any questions arising from the delivery

  • Expert guidance

Parallel Wealth can look at one (1) quick ‘what-if’ scenario based off the updated information, but without any tax planning. An example of this would be the effects of purchasing a property on your spending, or gifting money, or retiring at a different year, etc.

Client Responsibilities:

To ensure a smooth process, we kindly request that you:

  • Provide accurate and up-to-date financial information.
  • Attend the scheduled 15-minute discussion & 1-hour Zoom presentation.
  • Review the provided documentation and video walkthrough.
  • Communicate any questions or concerns promptly to your planner

Out of Scope:

The financial planning service does not include the following:

  • Additional scenarios not listed in the Scope section above (outside of your main plan with full tax planning)

    • If you would like more than one scenario with full tax planning, please let your advisor know. The cost for each additional scenario is $750 plus GST

  • Deliverables for more than 1 (one) scenario discussed on the zoom presentation

  • Significant changes in plan information provided later than two weeks before the presentation, including significant changes provided during the Plan Presentation meeting or before Plan Delivery.

  • International tax planning (including retiring outside of Canada, and/or dual citizenship with another country, etc.)

  • Guaranteed Income Supplement (GIS) scenarios

  • Passive Investing Advice

  • Accounting or Legal Services

  • Investment Recommendations or Instructions

  • Review of a financial plan not created by Parallel Wealth, or review / interpretation of any spreadsheet tools used or created by the client (please fill out our Financial Planning Questionnaire from any information / spreadsheets you may have)

  • Drafting of your Will

  • Updates / information change after plan delivery

  • More than one tax planned scenario as part of the plan delivery

Fees and Compensation:

The Full Update Service Agreement is an additional service.  The cost for the Full Plan Update is based on the services you have selected.

By agreeing to this Client Disclosure Document, you acknowledge that you have received and understood the terms and services included in the Full Update Service Agreement. We are committed to helping you achieve a clear and proper retirement plan as you approach retirement.

For plans that include a spouse or partner:

By agreeing to below, the undersigned client acknowledges and agrees that this agreement is binding upon both the undersigned and their spouse or partner. The undersigned confirms they have the authority to enter into this agreement on behalf of their spouse or partner.

Download the Advisory Service Agreement