frequently asked questions

Why do I need a Certified Financial Planner?  

“Canadians with solid financial plans feel better off emotionally and financially than those without, according to research.” Read More Here. In addition, the CFP designation is a prestigious acknowledgement of excellence and accountability that sets a financial planner apart from other planners.

How does gawthrop financial get paid? 

There are typically 3 ways an advisor get's paid. One is fee for service, (hourly amount) second is through commissions earned on products, third is asset management fees. We can work under any of these models, depending on what our client's decide.

what company doEs Gawthrop financial work for?

As an independent certified financial planner, we are not obligated to one company over another. This means that we are licensed with and can offer a variety of life insurance and investment providers based on our client’s needs and wishes. We are not beholden to any one company, only to our clients.  

in Which provinces is Gawthrop Financial Licensed to work?

We have offices in South Surrey and Vancouver, BC but hold licenses in Alberta and Ontario as well. With the advances of technology in the financial planning industry and the world at large, we have satisfied clients across all three provinces. We’d love to work with you!

How Much Life insurance do i need?

This depends on many variables. For example, how big is your mortgage? Do you have dependant children? Are you a one or two income house hold? These are just some of the questions that help us determine your life insurance needs. 

I'm Buying A house, do i have to take the banks mortgage insurance? 

No. While mortgage insurance through the bank is better than nothing, buying a policy privately will most likely cost less. When you own your own policy, you are not tied to one mortgage lender.

i need life insurance, do i have to get medical tests done?

There are companies that do not require medical testing to get life insurance. However, there are limits to the amount of coverage you can buy. If you are healthy and willing to go through medical underwriting, your insurance would cost significantly less than a non-medical policy. Check out our online, non-med applications HERE

do we need to meet in person to write a life insurance (or Investment) application?

No, there are now companies that allow us to do applications over the phone/skype and via email.

Term or Permanent insurance, which is better?

That depends on your needs. We would be happy to set up a phone conversation with us to determine which type of plan is best for you. The best type of insurance is the type that is in place when you die. 

WHAT IS AN APPROPRIATE AMOUNT OF MONEY TO SAVE PER MONTH? 

Generally, we say that you should be saving at least 10% of your annual income for “long term” savings. That being said, the answer to this question is usually “it depends”. There are a lot of variables and there is not “one size fits all”. You can’t really go wrong by setting up a monthly savings/investment program.

what is a robo-advisor?

Robo-Advisors are online portfolio managers and are designed for today’s digital world and provide investors with a professionally managed portfolio at lower cost. We are beginning to partner with various providers in Canada starting with Wealthsimple and Nest Wealth.

 Have a DIFFERENT question? Book a call with us below to discuss!

 

 

 

Approachability and honesty were exactly what I wanted in my dealings with Gawthrop Financial. I have never been disappointed”
— P Bayliss - Client for 13 years
It has been a pleasure working with Rob over the many years. I trust his expertise and value his friendship.”
— W Rees - Client for over 20 years