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Tag: Fee-Based Financial Planning

How to Know If You’re Getting The Right Financial Advice

Whether they’re an accountant, investment advisor, insurance specialist or financial planner, anyone in Canada can offer financial advice. But how do we know the advice they’re giving us is right for us? Helping people get transparency on the role of each financial profession and understanding what each of these roles means for us is something that is very close to our hearts. Historically financial professionals in Canada have been trained to sell products such as insurance, mortgages, or investments and…

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The Value You Get from a Financial Advisor

Robo-advisors are on the up. These digital platforms that provide automated, algorithm-driven investment services with little to no human supervision are cheap. But anyone who’s ever had home renovations would agree, “cheap” often ends up costing more in the end. After trying to save a quick buck, you often end up hiring a professional to fix the substandard results. “A Rising tide floats all boats…only when the tide goes out do you discover who’s been swimming naked.” Warren Buffett A financial advisor acts…

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Maximizing Your Investment Portfolio

Investment returns, management fees, and efficient taxation are all important when it comes to the big picture on where to invest your money. If you’re confident your dollars are working for you in the right places, you have more time to focus on your goals. In this week’s podcast, we cover how to best structure your investment accounts and get the most out of your money. How do we manage our investments during a pandemic, is there such a thing…

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How To Structure Your Investment Portfolio

One of the things we’ve observed among many business owners and incorporated individuals is that they measure the success of their investment portfolios strictly by its rate of return, without considering the bigger picture. When it comes to your investment strategy, tax plays a major role in your net rate of return of your overall investment portfolio. And if your portfolio isn’t structured effectively, you can end up paying significantly more tax. This is why the rate of return on…

Product-Driven Vs. Fee-Based Financial Planning

One of the things that we’ve recognized over in the financial planning industry over the years is that it has been very product-focused. Financial advisors are incentivized to sell specific insurance and investment products to their clients in exchange for commissions. So let me ask you a question: do you want to buy a product or do you want valuable intellectual property and financial advice? At Ocean 6, we have transitioned to a full fee-for-service and fee-based financial planning model,…

How To Pay Yourself If You’re Incorporated (Salary Vs. Dividends)

One of the most common decisions that a business owner or incorporated professional needs to make is how to pay themselves. Many entrepreneurs decide to incorporate their business and then pay themselves a salary out of their corporation, but this often results in paying higher taxes on their personal income.  One of the major advantages of being incorporated is you get the benefit and the flexibility of being able to decide how to pay yourself, paying yourself a salary isn’t…

Ocean 6 Wealth Advisory

Why We Transitioned To A Client-Focused Financial Planning Model

We’re extremely excited to announce that we have completed a full transition to our Ocean 6 brand (formerly J.R. Financial). Along with this transition to a new brand comes a significant change in our business model as financial advisors.  The financial planning industry in Canada is traditionally a product-driven and commission-based environment. Essentially, every financial planning firm has partnerships with specific insurance and investment product providers, and those partnerships create limitations in what these financial advisors can offer to their…

Ocean 6 Wealth Advisory

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