One is Better than Many

BY R.A. (BOB) CHALLIS, CFP, RHU, TEP, THE NAKAMUN GROUP, WINNIPEG

Having one registered retirement income fund (RRIF) managed by one financial advisor is by far the most effective and beneficial approach to managing your retirement income. Scattering your RRIFs at multiple financial institutions might be perceived as diversification, but that perception is incorrect. Diversification is achieved within one portfolio, and a single financial advisor, who understands your retirement plans and goals, is best positioned to help you create a strategy, and then consolidate and structure your investments to reach those goals.

Once you and your advisor have developed a financial plan, having all your investments in one place, managed by one individual, makes your life simpler — one consolidated statement gives you a complete picture of your holdings; a single consultation with a professional you trust, who knows you and your situation, can react quickly and appropriately to changes you need or want; and if suddenly something happens to you, your family has a single source of comprehensive information about your financial affairs.

If you haven’t already consolidated your RRIFs or other registered investments, consider doing so. Your Nakamun Advisor is well positionedto help you.

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