Personal Financial Planning

Calgary Select: Personal Financial Planning


Don't sweat: Financial planning made easy

36_Golfer.jpg(NC)-More than a quarter of Canadians perceive financial planning as a painful process, preferring the buzz of a dentist's drill than the advice of a financial planner, according to a survey commissioned by BMO Mutual Funds.

The pain associated with the process appears to be linked to the fact that over 50 per cent of respondents feel that their lives are too hectic to accomplish everything they'd like to, particularly financial planning.

"Most investors consider the financial planning process to be far more time consuming and painful than it needs to be," said Linda Knight, Vice President, BMO Mutual Funds. "Seeking advice is one way to simplify our lives. Canadian banks, including BMO Bank of Montreal, have made significant strides in the last five years by making available in their branches qualified financial planners who can help take the complexity and pain out of financial planning."

The BMO Mutual Fund survey also showed that despite busy schedules, almost a third of Canadians would try to squeeze in time for a quick coffee break with a friend. Financial planning can be that easy. Taking advantage of the free financial planning advice offered at bank branches, combined with an asset allocation service like BMO MatchMaker Strategic Portfolios, investors can create a long-term financial plan that can be as easy to set-up as ordering a cappuccino.

According to Ms. Knight, there are at least three good reasons for investors to take action now:

Selection: In a world of over 4,500 mutual funds, getting the right mix of mutual funds can be difficult, but it is critical to a disciplined portfolio that offers the best potential return, relative to an individual's risk tolerance.

Management: Equally important is a regular portfolio review to ensure everything is on track and in line with the investor's objectives. For example, BMO MatchMaker does this on a quarterly basis; automatically rebalancing the portfolio to the investor's original asset mix.

Free and easy: Building an effective investment plan at a local bank branch is free and painless.

Information provided by BMO Mutual Funds. For more information visit your nearest BMO Bank of Montreal branch, call 1-800-665-7700 or log on to