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The surprising reasons investors leave advisors Do you sometimes feel like breaking up with your financial advisor? Are returns less than expected? Feeling unheard? Talked down to with tedious jargon? Or do the fees seem high? No matter what drives it, find out the surprising reasons behind investors’ decisions to leave their financial advisors. In this video, Wealth Advisors James Whitehouse and Fernando Ponce of Whitehouse Retirement Wealth Group in Calgary, Alberta, Canada, discuss the top reasons clients leave their financial advisors and what you should expect from a good advisor-client relationship. Can you get things back on track? Or should you end the relationship and move on? We’ll explore: What should you expect from your advisor? What are the 2 biggest reasons clients switch advisors (hint: it’s not just about returns). What you should look for in a financial advisor to ensure they understand and meet your needs. How do you build a relationship with your advisor beyond just dollars and cents? Don’t settle for less when it comes to managing your wealth. Whether you’re frustrated with your current advisor or want to know what to expect from the best in the industry, this video will guide you through the essentials of a healthy advisor-client relationship. Subscribe for more financial advice and wealth management tips
✨ Key Takeaway: Retirement is not what it used to be. It’s changing. Are you ready? Longer lifespans and evolving financial systems require new approaches. Learn how to take control of your retirement planning for a secure and fulfilling future. Find out why the changing definition of retirement can be a good thing! Join Jim Whitehouse and Fernando Ponce from Whitehouse Retirement Wealth Group with National Bank Financial Wealth Management as they explore what these changes could mean for you. 📈 What You’ll Learn: The surprising history of retirement: Why it was created and by whom. How life expectancy and financial trends are reshaping retirement planning. Why many people are working longer and how it’s redefining aging and careers. From Canada Pension Plan (CPP) and Old Age Security (OAS) to looking at all sources of income, we’ll explain some practical steps towards a strong financial future in retirement. Who this is for: This video is for you if you’re ready to take charge of your retirement and want clear, simple advice to help you plan for the future. Jim and Fernando break down topics in simple and plain language for the average investor. They are located in Calgary, Alberta. 💼 Meet Your Experts: Jim Whitehouse: A Calgary-based Senior Wealth Advisor with decades of expertise in wealth management and retirement planning at National Bank Financial Wealth Management. Fernando Ponce: A trusted wealth advisor on Jim’s team helping to simplify wealth and investing for individuals and families.
How to Secure a Comfortable Retirement in Canada Planning for retirement is one of the most significant financial journeys you'll take, but it can feel overwhelming without the right guidance. From deciding how much money you'll need to retire comfortably to choosing the best age to leave the workforce, careful planning is essential to achieving financial freedom. This guide explores key topics like creating a retirement budget , managing taxes efficiently, and building a steady income stream that can withstand inflation. You'll also find insights on whether downsizing or relocating is right for you, and how to avoid common pitfalls like overspending or retiring with debt. Retirement isn’t just about numbers—it’s about achieving peace of mind and a lifestyle you enjoy. Whether you’re early in your saving strategy or nearing the golden years, this resource provides actionable advice tailored to the unique challenges Canadians face. Explore strategies to protect your savings from inflation, the psychology behind retirement decisions, and tips to ensure your golden years are financially secure and personally fulfilling
Do you know how much money you really need to retire? In this video, we break down the myths, share real-life examples, and give you a clear retirement reality check to help you plan confidently. James Whitehouse and Fernando Ponce from Whitehouse Retirement Wealth Group in Calgary, Alberta, Canada answer these questions, in-easy to-understand terms: Is there a “typical retirement"? What do retirees say about time, family, and health. What if your retirement savings fall short? What is a realistic retirement? 3 case studies show different retirement paths and how much each family needs to live comfortably. Whether you're dreaming of exotic vacations after your working years, or focusing on a simpler lifestyle, this guide helps you understand the financial reality of retirement. Learn how to stretch your savings and avoid outliving your money.
Without an estate plan, your financial assets and wishes could become lost, hung up, or disputed, causing unnecessary delays. But estate planning doesn’t have to be complicated. In this video, we break down the Estate Planning Process into simple steps that most can follow. Whether you’ve just started thinking about estate planning or it seems daunting, this guide will help you understand the key parts to organize it easily. You’ll also learn how some basic office supplies and a few key documents cover most clients’ scenarios. Are you the exception with a more complex situation where a do-it-yourself solution isn’t adequate? Either way, you ca decide with a free estate planning checklist designed to help you get started on protecting your family's future. James Whitehouse, Senior Wealth Advisor at National Bank Financial, and Fernando Ponce walk you through: 4 estate planning options, from DIY to when is it necessary to hire professional services. What are the key documents you need to include in your estate plan? How do you get started on your own? (Hint: Grab our free checklist.) When is it time to seek specialized legal advice. You’ve worked hard to build your wealth. Don't make the mistake of waiting too long to create your estate plan—starting is easy, and the rest will fall into place with a bit of time and effort. 📄 Download our free Estate Planning Checklist
Are you one of the many people without a will? In this video, Jim Whitehouse and Fernando Ponce from Whitehouse Retirement Wealth Group at National Bank Financial Wealth Management explain why having a will is crucial to protecting your wealth. Take away four key insights to protect your family from costly hassles, including a cautionary tale about one family who faced the problem of a missing will. As financial advisors with over 35 years of experience, we’ve seen firsthand how a lack of planning can lead to frozen assets, legal battles, and government intervention. But it doesn’t have to be that way. Get answers to these questions: Are you too young for a will? Do you have enough assets for a will? What happens to an estate without a will? How to avoid the lengthy, complicated process. What is the cost of creating a legal will? Are you protecting your estate from costly mistakes and holding the right legal documents? Is your will accessible to the people who need it most? Who should get a copy? Don't leave your family with uncertainty. A simple will can save them from a costly ordeal. We’ll show you how to get started.
Feeling overwhelmed with settling an estate? In this video, we’ll walk you through 5 essential steps every executor needs to know—and reveal one costly mistake you absolutely want to avoid. A cautionary tale highlights a key takeaway. As an executor, it’s easy to feel lost in the process of handling documents, probate, and legal requirements – on top of struggling with the emotional loss of a loved one. We walk you through 5 simple steps to understand the process. Explained from a Wealth Advisor’s perspective, James Whitehouse and Fernando Ponce have worked with clients through every stage of life. The difficult time of losing a loved one brings a series of financial tasks that don’t need to be complicated. Let us help guide you. Get answers to these questions: - Where to obtain critical documents like death certificates and wills. - Why probate can be time-consuming and unavoidable. - Unexpected costs you may face and how to prepare. Published by Jim Whitehouse, Senior Wealth Advisor & Portfolio Manager | National Bank Financial | National Bank Financial - Wealth Management
Several times a year, over the past 14 years, I have read articles suggesting advice about RRSP and TFSA contributions. Conflicting Information When I read these articles they seem to advocate that you contribute to your TFSA first, or only to your TFSA, or that you contribute to your RRSP first and then maybe your TFSA later, or vice versa. I find this all pretty confusing and certainly feel that it does not help toward making a decision. You might agree. Why Not Use Both Plans? Anyone with taxable income and some savings at the end of any year and is 18 years of age or older (age required for a TFSA), should have some amount of RRSP contribution room (unless of course they are part of a fully funded pension plan with no excess RRSP contributions available). Let’s pick a young wage earner with $5,000 of RRSP contribution room available. They have worked hard and managed to save $5,000. They decide to contribute this to their RRSP. We will assume they are paying 30% marginal tax and therefore are eligible for a $1,500 refund (or tax credit) from Canada Revenue Agency. Next because they are a strong saver, they contribute this $1,500 refund to their TFSA. If we pick any rate of return: 4%, 5%, or 6%, and we make our RRSP and TFSA contributions year in and year out, for 20 years, the compound results will be significant in both plans. Our saver/investor has benefited from using both plans, with help from our good friends at the CRA. When we look at the discussion from this perspective, why would we not take advantage of both registered savings programs? I think any arguments about tax now and tax in the future should be muted, when we see the substantial retirement savings in both registered accounts, even if we use a guaranteed return of only 4%. The TFSA still retains all of its withdrawal attributes and as our saver earns and saves more, they can fully contribute to both plans.
When a Defined Benefit Pension Plan (DBPP) is commuted, there will always be a required tax payment. The reason for taxes is because a lump sum is withdrawn from the plan and paid out as income. These are often large tax payments, depending on the overall commuted value, and need to be considered with all other components. Here is an illustration based on an actual Commuted Pension after withdrawing from a major corporation’s DBPP. Client was 50 years of age and had worked for the company for 30 years. The most favorable pension payments were an immediate payment of $8500/month ($5400 after tax) with a 15-year guarantee. Or, $10000/month ($6800 after taxes) at age 60, with a 60% survivor guarantee. The Commuted Value $900,000 transferred to a LIRA. $1,600,000 lump sum taxable payment $550,000 taxable severance (about 2.5 years) $100,000 taxable cash from future performance grants After withdrawing $150,000 for 2 years living expenses, paying all taxes, topping up RRSP and TFSA contributions, the client added $2,200,000 to their existing investment portfolio. We determined the client needed an average annual rate of 3% - 4% to provide a payment comparable to their pension. Most importantly, many factors and individual circumstances need to be considered when deciding to receive a pension payment or take a commuted value. Actual dollar values were adjusted and rounded for ease of illustration. Thank you and Enjoy your Day. James Whitehouse
National Bank Financial – Wealth Management (NBFWM) is a division of National Bank Financial Inc. (NBF Inc.), as well as a trademark owned by National Bank of Canada (NBC) that is used under license by NBF Inc. NBF Inc. is a member of the Canadian Investment Regulatory Organization (CIRO), the Canadian Investor Protection Fund (CIPF), and a subsidiary of NBC, a public company listed on the Toronto Stock Exchange (TSX:NA).Products and services of the National Bank Financial — Wealth Management are only offered in jurisdictions where they may be lawfully offered for sale. All products and services are subject to the terms of the applicable agreement. The information in this Website is subject to change without notice. This communication does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should consult with their financial adviser to determine if these securities may lawfully be sold in their jurisdiction. This information is intended only for residents that reside in the provinces of Alberta, British Columbia, Ontario, Manitoba and Saskatchewan. NBF is not a tax advisor, and clients should seek professional advice on tax-related matters, including their personal situation. Please note that comments included in this letter are for information purposes only and are not intended to provide legal, tax or accounting advice. The comments reflect the opinion of their author and may not reflect the views of NBF. The information contained herein has been prepared by Jim Whitehouse, a Senior Wealth Advisor and Portfolio Manager at NBF. Insurance services and products are provided by National Bank Insurance Firm (NBIF). NBIF is not a member of Canadian Investor Protection Fund, and the products sold or provided by NBIF are not guaranteed by the Canadian Investor Protection Fund.
