Our Philosophy

Building A Balanced Financial Portfolio™

The Ciccone/McKay approach is comprehensive, holistic, and based on building what we call “balance.” In order to achieve this balance, we analyze, assess and make recommendations based on five critical areas. These five areas are your opportunity and/or emergency funds, your replacement dollars, your savings, your investments and your tax deferral strategies. It is only when these five areas are discussed and analyzed that a true balanced financial portfolio can be achieved.

 

Ciccone/McKay will work with you to determine a solution that fits into your lifestyle and your financial plans, while determining the right type and the right amount of insurance.

 

Please call us at 604.688.5262 for more information on how we can help you determine the risk management strategy that will work for you.

 

5 steps to a balanced financial portfolio

  • 1. Opportunity/Emergency Funds - “No Touchee Money”

    How well prepared would you be if an unexpected emergency or opportunity presented itself to you in your personal or business life? We cannot always predict what the future will bring, or whether it will be positive or negative. The “no touchee money” part of your balanced financial portfolio are the funds that you have set aside for these types of situations. Ideally, it should be enough to cover three to six months of your fixed expenses.

  • 2. Replacement Dollars

    If you became sick or disabled, would you or your business be able to maintain a steady income? When you pass away, will your family be protected and will they have the money necessary to pay off any debts and maintain the same standard of living? Or, if you own a business, what strategies do you have in place to keep it healthy should you become sick or disabled? An often misunderstood area of financial and business planning, replacement dollars give you, your family, and your business replacement income in the case of illness or death. Replacement dollars are generally provided by four types of products: life insurance, disability insurance, critical illness insurance and long term care insurance.

  • 3. Saving Strategies

    For most people, earning money is not a problem; the difficulty comes with saving money. People often spend their money first and then put what’s left over aside for savings. As a result, it is difficult to grow your savings, if at all. The best way to establish a well balanced financial portfolio is to first put aside money and then spend what is left. An effective savings strategy includes money that is reserved for your short, mid, and long term objectives. Your savings strategies are different than your opportunity/emergency funds, which are set aside for the unexpected. The purpose of savings is to save for something planned such as a business expansion, retirement planning, a vacation, a down payment on a house or a child's education.

     

  • 4. Investments

    To make strides in our society, we must put our money to work for us. One of the two areas of a balanced financial portfolio that actually helps your money create wealth for you is the investment portion. Investments include real estate, mutual funds, segregated funds, company shares and strategies such as business expansion, leveraging, or any other financial product that can help you earn additional return on your investments. In essence, investments make your money work for you.

     

  • 5. Tax Deferral Strategies

    Deferring taxes as long as possible is a common investment goal and the second area of your portfolio that helps your money create wealth for you. Common tax deferral strategies include investing in RRSP’s, utilizing universal life insurance contracts, IPPs, and taking advantage of leveraging opportunities. Tax deferral strategies provide two main benefits – they create a tax credit which can be used to reduce your net income and they create tax deferred growth on your investments. Tax deferral strategies are used to strengthen long term financial strategies and are an integral part of long-term planning.

     

 

When discussing and building your balanced financial portfolio, we will take many steps to get to know you to ensure that we build a portfolio that is completely tailored to you, your needs and your goals. In our minds, if we have incomplete information about you, we cannot provide complete advice.

 

Therefore, we will first clarify your current financial situation and identify your goals and objectives compared to any financial problems and opportunities you may have. Next, we will provide written recommendations of alternative solutions and products and coordinate the implementation of your plan. The last step of the process involves providing you with reviews and updates on your portfolio.

Contact Us Today

Email us at info@ciccone-mckay.com or call us: 604-688-5262

About Ciccone/Mckay

Ciccone/McKay Financial Group is an independent financial services firm with over 75 years of combined experience in the areas of risk management, wealth management and employee benefits.

 

We specialize in providing insurance and investment solutions for our clients, helping businesses, individuals and families grow, manage, protect and transfer their wealth.


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Contact Us

  • Ciccone/McKay Financial Group
    Suite 360 - 1095 West Pender Street
    Vancouver, British Columbia
    V6E 2M6

    604-688-5262