Fee For Service Financial Planning

General 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 General Update Service Agreement includes the following deliverables:

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

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

  • Updated Plan in PDF format,

  • Updated Plan in Excel format,

  • Brief recorded Video Walkthrough of key changes in the two updated plan documents above

  • 1-month email support for any questions arising from the update

  • 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.
  • Review the provided updates documentation.

Out of Scope:

The Updated Plan service does not include the following:

  • Additional scenarios not listed in the Scope section above (outside of your main updated 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 taxes

  • Deliverables for more than 1 (one) scenario indicated in the Client Update form

  • Significant changes in plan information provided after your Client Update form is submitted, including significant changes provided after the Plan Update is delivered.

  • 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 General 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 General 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