FundEX Investments Inc. is not responsible for any activities related to other gainful occupations that are not the business (Mutual Funds) of FundEX Investments Inc. and are not the responsibility of FundEX Investments Inc.
Services We Offer
- Financial Planning
- Personal Insurance
- Group Insurance
- Investment Funds Advisors
- Tax Planning
- RRSPs/LIRAs/RRIFs/LRIFs & LIFs
- RESPs
- TFSAs
Financial Planning
Financial planning consists of the following six distinct steps. When it's comprehensive financial planning guidance you want, these are the steps that should guide your planner. Be familiar with them. They'll help you get the most out of the process. And remember, it's this big-picture approach that sets independent financial planners apart from all other financial advisors who may have been trained to focus only on one aspect of your finances.
- Establish the client—planner engagement
- Gather client data and determine your goals and expectations
- Clarify your present financial status and identify any problem areas and opportunities
- Develop and present the financial plan
- Implement your financial plan
- Monitor the financial plan
Not everyone requires a comprehensive Financial Plan. Planning may be limited to a specific objective that is a priority to the client. Often we will provide our clients with the information they require to make an educated decision as to the best product or service for their particular need. The need is often limited to:
- Personal Insurance Coverage
- Group Life & Health Coverage
- Education Savings Plans
- Retirement Savings
- Retirement Income
- Regular Savings
and many more ...
Personal Insurance
Personal Insurance generally comes in two forms; permanent, or whole life coverage, and term.
As the terminology suggests permanent insurance remains in place until the death of the insured, thereby guaranteeing a benefit to the named beneficiary. This coverage is often purchased for payment of final expenses, including funeral expenses, legal, accounting and Terminal Return or Estate Taxes. The products available are vast and should be explored with your advisor to determine which best fits your particular need.
Term insurance generally terminates at a specific age or after a period of time. Term insurance is used for Mortgage Insurance, Group Life Insurance, and is often sold as 5-year, 10-year or 20-year policies. Most contracts will provide for renewal options at the end of each period at a guaranteed rate, based upon the attained age of the insured, but will terminate by age 75 or 80. Term insurance is a cost effective way to protect your loved ones against loss of income, debt repayment obligations and in establishing trusts for future needs.
Group Insurance
Group insurance generally consists of a combination of coverage put in place by an employer for their employees. The coverage often helps reduce employee turnover thereby reducing the costs associated with training new employees. Most plans are "packaged" to include some or all of the following benefits:
- Life Insurance & Accidental Death or Dismemberment
- Weekly or Short-term Disability
- Extended Health Care (including prescriptions & out-of-country)
- Dependant Life
- Long-term Disability
- Dental Care
The size of the group will dictate the flexibility in the plan options and can effect deductibles, co-insurance factors and overall costs of the plan benefits.
Investment Funds Advisors
As Investment Funds Advisors we work together with our clients in establishing an investment or portfolio of investments that will best serve their needs based upon an established time line, risk tolerance, tax consequences, growth potential, personal financial situation and overall goals.
We recommend products to our clients, from the myriad of investment products available, that best suit them as an individual. The Portfolio Managers have the responsibility of making day-to-day decisions on when to buy or sell within their portfolio, but we monitor their performance and adherence to their stated objectives to ensure the investment continues to meet the clients' needs. We will make recommendations from time-to-time for portfolio changes but the decision remains in the hands of the investor.
We depend upon our clients to keep us apprised of their personal situation as it may effect the short or long-term goals of a portfolio. Where changes suggest the portfolio should be altered, we will recommend the appropriate changes.
We offer the following products:
- Mutual Funds
- Segregated Funds
- Guaranteed Investment Certificates
- Annuities
Tax Planning
Although we are not professional tax planners, we are able to offer our clients tax planning advice specific to the tax effect of various investment strategies and plans. We have at our disposal software that assists us in determining the tax consequences of making certain investment choices.
We are able to provide our clients with basic tax return preparation services. Contact our office for details.
RRSPs/LIRAs/RRIFs/LRIFs & LIFs
RRSPs
Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs) are the most tax effective growth vehicles available to the common investor in Canada.
RRSPs
RRSPs are used during the earning years as a way to reduce taxable income and accumulate wealth on a tax deferred basis. Contributions are deducted from your earned income thereby reducing the taxes due by your highest marginal tax rate. Unlike regular investments where income is added to your total annual income at year end and taxed at your highest marginal rate, RRSPs do not attract tax until they are withdrawn, typically when your income is lower.
LIRAs
Locked-in Retirement Accounts (LIRAs) will accept pension plan values from past employers that individuals wish to transfer to their own ownership and control upon leaving an employer. Like an RRSP the growth is tax deferred until withdrawn as income at retirement.
RRIFs
RRIFs are used to pay out the income from accumulated RRSPs in retirement. Only the income withdrawn is taxed as earnings in the current calendar year, all other growth remains tax deferred within the plan until withdrawn.
Income splitting can be accomplished through the use of Spousal RRSPs. And there are rollover provisions from spouse to spouse at death that avoid tax until the death of the last survivor.
LRIFs
The Locked-in Retirement Income Fund (LRIF) and Life Income Fund (LIF) provide scheduled lifetime retirement income to investors that control a LIRA in their personal portfolio. They do have some maximum income and withdrawal limits that should be discussed with your advisor.
RESPs
Registered Education Savings Plans (RESPs) became more popular again after the Federal Government revised the plan provisions in 1998. The RESP is now eligible for a 20% Canada Education Savings Grant (CESG) to a maximum of $500 per year. The restrictions on the lifespan of a plan as well as the use of the RESP have been altered to make them a vehicle that any investor facing the cost of post-secondary education should consider.
TFSAs
Tax Free Savings Accounts (TFSAs) will provide every Canadian over the age of 18 an opportunity to invest up to $5,000 per year into an investment where all earnings are excluded from any Canada Revenue Agency income tax reporting requirements. These plans can provide tax-free income to investors that will not adversely effect any other government income they may earn.