QUESTIONNAIRE DE PLANIFICATION · Web view2019. 5. 30. · Client name 1: Client name 2: Clienttype: Questionnaire completed on: Updated: Financial planner: *You can insert your

QCDD-A-003 Data Collection Questionnaire

DATA COLLECTION QUESTIONNAIRE

CONFIDENTIAL

File no.:

Client name 1:

Client name 2:

Client type:

Questionnaire completed on:

Updated:

Financial planner:

*You can insert your logo here to personalize this document. This document was created for informational purposes only. The IQPF can not be held responsible for errors or losses incurred following

its use.

*You can insert your logo here to personalize this document. This document was created for informational purposes only. The IQPF can not be held responsible for errors or losses incurred following its use. 1


SECTION 1: PERSONAL INFORMATION

Residence and job

Client 1: Client 2: Mr. Ms. Mr. Ms.

Address: Since (date): Date and place of birth: Date and place of birth: Start date of residence in Canada: Start date of residence in Canada: Citizenship: Citizenship: S.I.N.: S.I.N.: Home phone: Home phone: Office phone: Office phone: Cell phone: Cell phone: Fax: Fax: Email: Email:

employer self-employed retired

employer self-employed retired

Name: Name: Address: Address: Since (date): Since (date): Position: Position: Job type: 1 2 3 4 Job type: 1 2 3 4

1. Permanent 2. Temporary 3. Independent 4. No job



Civil and matrimonial statusClient 1: Client 2:

Since (date) Since (date) single single married/civil

union married/civil union

de facto union1 de facto union1 widowed widowed legally

separated legally separated

divorced divorced

Support paymentsClient 1 Client 2

paid received not applicable

paid received not applicable

Marriage or civil union contract (append a copy to the questionnaire) partnership of acquests separation of property community of

property other n/aCohabitation agreement (append a copy to the questionnaire)

yes no not applicableSurrender of family property rights

yes no not applicable

yes no not applicable

1 Also indicate civil status under the Civil Code of Québec.



Children GrandchildrenFirst

nameDate of

birth Job Annual income

Civil status

Last name

First name

Date of birth

1)

2)

3)

Comments:

Other informationClient 1 Client 2

smoker non-smoker never smoked

smoker non-smoker never smoked

State of health: 1 2 3 4

State of health: 1 2 3 4

1. Excellent 2. Good 3. Fair 4. Poor

Details:



Professional advisors

Name Firm and address Phone Fax Email

Lawyer Notary Accountant or tax expert

Account manager

Financial security advisor

Broker’s representative

Liability insurance broker or agent

Other:

For the Client 2, if different:

Name Firm and address Phone Fax Email

Lawyer Notary Accountant or tax expert

Account manager

Financial security advisor

Broker’s representative

Liability insurance broker or agent

Other:



SECTION 2: GOAL SUMMARY

Personal and family situation

Yes No CommentsGet married or enter civil union Live in a de facto union Get divorced Adopt children Have children Separate Other:

Financial situation

Yes No CommentsEvaluate net worth Evaluate cost of living Eliminate personal debts Establish a savings strategy Purchase a home Review investment strategy Help children or grandchildren pursue higher education

Other:

Tax situation

Yes No CommentsReduce income taxes Optimize after-tax investment income Evaluate compensation method Evaluate business structure Use income-splitting strategies Other: Protection situation



Yes No CommentsDraft or update a mandate in case of incapacity

Draft or update a general power of attorney

Review personal disability protection Review business-related disability protection

Review other personal sickness or accident protections

Review other business-related sickness or accident protections

Other:

Retirement situation

Yes No CommentsRetire at age . Maintain a cost of living of , in today’s dollars.

Evaluate options for cashing out RRSPs, RRIF, annuities, etc.

Choose between a defined benefit pension plan and transfer to a LIRA

Set up an individual pension plan Other:



Situation at death

Yes No CommentsDraft or update the will Determine life insurance needs Maintain current cost of living for heirs for years

Provide additional bequests for heirs Provide other bequests, such as to a foundation

Minimize taxes payable on death Business: ensure continuation of the

business after death

Other:



SECTION 3: FINANCE

ActifClient 1 Client 2

PassifClient 1 Client 2

Determination of cost of living

How much do you save annually in your RRSP?

How much do you save annually in your TFSA?

How much do you save annually in an unregistered account?

Are you expecting any unusual income or expenses in the next year (e.g., trips, renovations)?

yes no Comments:

Have you made funeral pre-arrangements? oui non Commentaire

s :



SECTION 4: TAXATION

Determination of after-tax income

Complete Appendix C using tax returns (or summaries) for the last three years.Client 1 Client 2

Annual earnings: $ $ Form (salary, commissions, business income, dividends):

If earnings are variable, enter possible range:

Client 1 Client 2Gross rental income: $ $ Deductible expenses: $ $ Net rental income before depreciation: $ $ Capital cost allowance: $ $ Net rental income: $ $

Client 1 Client 2Effective (or average) tax rate % %Marginal tax rate % %Net capital losses from prior years $ $ TFSA contribution rights $ $ $

Taxable capital gains declared in last 3 years:

Year: Amount:

In most cases, it is preferable to confirm this information with the tax authorities.



Have you sold any property since the beginning of the year? yes no

If so, complete the following chart.

Description Year of acquisition Quantity

Net proceeds of disposition

ACB UCC Gain or loss

Recapture of depreciation

1) 2) 3)

Home Buyer’s Plan (HBP) or Lifelong Learning Plan (LLP)

HBP LLP Client 1 Client 2Year of withdrawal Amount withdrawn $ $ Amount of annual reimbursement

$ $

Balance no January 1st $ $

Comments:

What amount is available for the capital gains deduction from the sale of qualified small business corporation shares? What amount is available for qualified farming or fishing property?

Client 1 Type of property Amount availableQSMCSs Qualified farming or fishing property

Client 2 Type of property Amount availableQSMCSs Qualified farming or fishing property

Have any of your investments been chosen mainly for tax reasons?



Do you have foreign investment property ?

yes no Comments: For all the years when the total cost of foreign investment assets exceeds the CA$100,000 threshold, a declaration must be made in the federal tax return and federal form T1135 must be filed.

Did you make an election in your 1994 tax return in relation to property you owned on February 22, 1994?

yes no

If so, complete the following table:

Description QuantityAmount of election

$

Other: SECTION 5: RETIREMENT



Client 1 Client 2yes no yes no

Are you eligible for the Old Age Security pension (OAS)?Are you eligible for the Québec Pension Plan or the Canada Pension Plan (append a statement of contributions)?Do you belong to a registered pension plan (RPP), a supplemental pension plan, a stock option plan, etc.?If so, please append a copy of the most recent statement of participation and all documentation concerning the plan (brochures, regulations, etc.) and complete note 15 in the personal balance sheet.

Do you belong to a group RRSP or group DPSP offered by your employer?If so, append a copy of the most recent statement of participation .

Do you always contribute the annual maximum to your RRSP* or spousal RRSP?When do you make your annual RRSP or spouse RRSP contribution?End of yearBeginning of yearSystematic savings program

Additional information about the RRSP:Deduction limit for Minus: Unused contributions previously reported and available to deduct in

Available contribution room for Excess contributions Obtain Appendix 7 and the most recent federal notice of assessment

Other information:

SECTION 6: LEGAL ASPECTS AND ESTATES

Details about the investments held inside the RRSP are provided in Section 3 – Finances, of this question, in the personal balance sheet.



Client 1 Client 2

yes no N/A yes no N/A

Do you have a will?If so, append a copy.

Is there a “last survivor” clause in your marriage or civil union contract?Does your will still reflect your last wishes?Do you want to leave a bequest to a charity?Have you drawn up a protection mandate (mandate in case of incapacity)?Do you have a general power of attorney?Do you have commitments arising from a previous marriage or union?Do you serve as the administrator of the assets of another person (tutor, liquidator, trustee or mandatary)?Do you have a shareholders’ or partners’ agreement?

Comments:

Note: It is important to get a copy of all existing legal documents.SECTION 7: INVESTMENTS



Client 1%

Client 2%

Determination of investor profileCash securities Fixed-income securities Growth securities

100 100Do you subscribe to an RESP?

yes no n/a Comments: If so, please provide the most recent account statements.

yes no n/a yes no n/aAre any of your loans for investment purposes?

yes no yes noAre any of your investments accounts to finance a specific plan or project?

SECTION 8: INSURANCE



Client 1 Client 2yes no N/A yes no N/A

Do you have life insurance ?Do you have disability insurance *?Do you have critical illness insurance *? Long-term care? Access to care?Are your loans covered by life insurance with the lending institution?Are your loans covered by disability or critical illness insurance with the lending institution?Does a corporation hold insurance on your life?

You must obtain recent statements to understand the provisions of the contracts.



APPENDIX A

PERSONAL BALANCE SHEET AS AT

Client 1$

Client 2$

Total$

ASSETSCash and near-cash assetsBank accounts (note 3) Life insurance cash surrender value (note 4) Non-registered investments (note 5) Tax-free savings account (note 6) Advances receivable (note 7) Other:

Total cash and near-cash assets Personal assetsPrincipal residence (note 8) Secondary residence (note 9) Automobiles (note 10) Antiques, works of art, jewellery, collections (note 11)

Other: Total personal assets

Income-producing assetsEquity ownership in a private corporation or partnership (note 12)

Rental property (note 13) Other:

Total income-producing assets Deferred taxation plansRRSP, RPDB or RRIF (note 14) Registered Pension Plan (note 15) LIRA or LIF (note 16) RESP or RDSP (note 17) Québec pension plan (QPP) (note 18) Other assets:

Total deferred taxation plans



Client 1$

Client 2$

Total$

TOTAL ASSETS LIABILITIESAccounts payable (note 19)Unpaid credit card balances Credit purchases Taxes payable Other:

Total accounts payable

Personal loans (note 20)Bank overdraft Line of credit Car RRSP Investments Advances received from a private corporation Other:

Total personal loans Mortgage loans (note 21)Principal residence Secondary residence Rental property Other:

Total mortgage loans Future income taxes (note 22)

TOTAL LIABILITIES

NET WORTH



Notes to the personal balance sheet

NOTE 1: Personal, professional and family situation

NOTE 2: Accounting conventionsAssets and liabilities are evaluated at their estimated current value.

NOTE 3: Bank accounts

Financial institution Type of account Balance$

1) 2) 3)

Total:

NOTE 4: Life insurance cash surrender value

Type of contract Cash surrender value$ Comments

1) 2)

Total:

NOTE 5: Non-registered investments

LIQUID SECURITIESSavings bonds

Issuer Series Interest rate Maturity Face value$

Accrued value

$1) 2)

Total:



Term deposits or guaranteed investment certificates maturing in less than 1 year

Financial institution Date of deposit Date of

maturity Interest rate Accrued value$

1) 2) 3)

Total: Bonds maturing in less than 1 year

Issuer Date of acquisition

Cost of acquisition

$Interest rate Maturity

Market value

$1) 2) 3)

Total: Money market mutual fund

Description

Date of acquisition MER ACB

$Number of

unitsMarket value

$Total

$

1) 2) 3)

Total:

Other liquid securities

Total:



FIXED-INCOME SECURITIESTerm deposits or guaranteed investment certificates



1) 2) 3)

Total:

Bonds


Cost of acquisition


Market value

$1) 2) 3)

Total:

Stripped bonds


Cost of acquisition

$Rate of return

Market value$

1) 2)

; Total Note: Also indicate interest declared each year on income tax return.Redeemable preferred shares

Description

Date of acquisitio

nACB

$Rate of return Maturity Quantity

Market value

$Total

$

1) 2) 3)

Total:



Fixed income mutual funds

Description

Date of acquisition

ACB$

Rate of return Maturity Quantity Market

value $1) 2) 3)

Total:

Other fixed income securities

Total: GROWTH SECURITIESCommon shares

Description

Date of acquisition

ACB$

Annual dividend Quantity

Market value

$Total

$

1) 2) 3) 4)

Total:

Perpetual preferred shares

Description

Date of acquisiti

onACB


Market value

$Total

$1) 2) 3)

Total:



Growth securities mutual funds

Description


$Number of

unitsMarket value

$Total

$

1) 2) 3)

Total:

Income trusts

Description

Date of acquisition

ACB$

Annual distributio

ns$

QuantityMarket value

$Total

$

1) 2) 3)

Total: Note: The ACB should be adjusted downward each year to reflect capital distributions.

Other growth securities

Total:

NOTE 6: Tax-free savings account (TFSA)





Accrued value$

1) 2)

Total: Term deposits or guaranteed investment certificates maturing in less than 1 year



1) 2) 3)

Total:

Bonds maturing in less than 1 year


Cost of acquisition


Market value

$1) 2) 3)

Total:

Money market mutual fund

Description

Date of acquisition MER ACB $ Number of

unitsMarket value

$Total

$

1) 2) 3)

Total:




Total: FIXED-INCOME SECURITIESTerm deposits or guaranteed investment certificates



1) 2) 3)

Total:

Bonds


Cost of acquisition


Market value

$1) 2) 3)

Total:

Stripped bonds


Cost of acquisition $ Rate of return Market value

$1) 2)

Total:



Redeemable preferred shares

Description

Date of acquisitio

nACB


Market value

$Total

$

1) 2) 3)

Total:


Description

Date of acquisition

ACB$


value $1) 2) 3)

Total:



Description

Date of acquisition ACB $ Annual

dividend Quantity Market value $ Total $

1) 2) 3) 4)

Total:




Description

Date of acquisiti

onACB $ Rate of

return Maturity Quantity Market value $ Total $

1) 2) 3)

Total:

Growth securities mutual funds

Description


$Number of

unitsMarket value $ Total $

1) 2) 3)

Total:

Income trusts

Description

Date of acquisition ACB $

Annual distributio

ns $Quantity Market

value $ Total $

1) 2) 3)

Total:


Total:

Total TFSA:



NOTE 7: Advances receivable

NOTE 8: Principal residence

Address Year of acquisition

Price paid$

Municipal evaluation

$Market value

$

Note: Include the price paid for major improvements or renovations. If the market

value differs from the municipal evaluation, identify the evaluation method.

NOTE 9: Secondary residence

Address Year of acquisition

Price paid$


$Market value

$

Note: Include the price paid for major improvements or renovations. If the market

value differs from the municipal evaluation, identify the evaluation method.

NOTE 10: Cars

Model Year Cost of acquisition$

Market value$

1) 2)

Total:



NOTE 11: Antiques, works of art, jewellery, collections

Description ACB$

Market value$

1) 2) 3)

Total Note: Specify how market value was established.

If there are charitable objectives, indicate the date and circumstances of acquisition of these assets.

NOTE 12: Equity ownership in a private corporation or partnership

Description % ownership

ACB$

Market value$

1) 2)

Total:

Note: Identify the evaluation method. The company’s financial statements can be.

NOTE 13: Rental property

Description Address Date of acquisition

ACB$

UCC$


$

Market value

$1)

Land portion n/a

2)

Land portion n/a

Total



NOTE 14: Registered Retirement Savings Plan (RRSP), Deferred Profit-Sharing Plan (DPSP) or Registered Retirement Income Fund (RRIF)



Accrued value

$1) 2)

Total:

Term deposits or guaranteed investment certificates maturing in less than 1 year



1) 2) 3)

Total:



Cost of acquisition


Market value

$1) 2) 3)

Total

Money market mutual fund

Description


$Number of

unitsMarket value $

Total$

1) 2)

Total:






Total: FIXED-INCOME SECURITIESTerm deposits or guaranteed investment certificates



1) 2) 3)

Total:

Bonds


Cost of acquisition


Market value

$1) 2) 3)

Total:

Stripped bonds


Cost of acquisition $ Rate of return Market value

$1) 2)

Total:




Description

Date of acquisitio

nACB


Market value

$Total

$

1) 2) 3)

Total:


Description

Date of acquisition

ACB$


value $1) 2) 3)

Total:



Description


dividend Quantity Market value $ Total $

1) 2) 3) 4)

Total:




Description

Date of acquisiti

onACB


Market value

$Total

$1) 2) 3)

Total:

Growth mutual funds

Description


$Number of

unitsMarket value $

Total$

1) 2) 3) 4)

Total:

Income trusts

Description

Date of acquisition

ACB$

Annual distributio

ns $Quantity Market

value $Total

$

1) 2) 3)

Total:


Total: Total RRSP or RRIF:



NOTE 15: Registered Pension Plan

Defined benefits

Participant Contribution rate

Pension accumulation

rate

Earnings subject to

contributions$

Current value $

Other features

1) 2)

Other relevant information: Defined contribution

ParticipantContributio

nrate

Employer contribution

rate

Earnings subject to

contributions$

Market value $

Other features

1) Investment characteristics:

2) Investment characteristics:



NOTE 16: Voluntary Retirement Savings Plan (VRSP), Locked-In Retirement Account (LIRA) or Life Income Fund (LIF)



Accrued value

$1) 2)

Total:

Term deposits or (Guaranteed investment certificates) maturing in less than 1 year



1) 2) 3)

Total:



Cost of acquisition


Market value

$1) 2) 3)

Total:

Money market mutual funds

Description


$Number of

unitsMarket value $

Total$

1) 2) 3)

Total:






Total: FIXED INCOME SECURITIESTerm deposits or guaranteed investment certificates



1) 2) 3)

Total:

Bonds


Cost of acquisition


Market value

$1) 2) 3)

Total:

Stripped bonds


Cost of acquisition

$Rate of return Market value

$

1) 2)

Total:




Description

Date of acquisitio

nACB


Market value

$Total

$

1) 2) 3)

Total:


Description

Date of acquisition

MER$

ACB$

Nomber of units

Market value

$Total

$

1) 2) 3)

Total:



Description


dividend QuantityMarket value

$Total

$

1) 2) 3) 4)

Total ;



Growth mutual funds

Description


$Number of

unitsMarket value $

Total$

1) 2) 3) 4)

Total:

Income trusts

Description

Date of acquisition

ACB$

Annual distributio

ns $Quantity Market

value $Total

$

1) 2) 3)

Total:


Total: Total LIRA or LIF:



NOTE 17: Registered Education Savings Plan or Registered Disability Savings Plan

Note: The RESP should only appear in the subscriber’s personal balance sheet and the value is equal to contributions made. The total value of the RDSP should appear in the beneficiary’s personal balance sheet.

NOTE 18: Québec Pension Plan

ClientAccrued

pension at age 65

Discount rate Life expectancy

Current value

$Before 65

65 and +

Comments:

NOTE 19: Accounts payable

Description Maturity date Interest rate Amount$

1) 2) 3) 4) 5)

Total:



NOTE 20: Personal loans

Description Date of loan Date of maturity

Payments$ Interest rate

Original amount

$Balance

$

1) 2) 3) 4) 5)

Total:

NOTE 21: Mortgage loans

Lender Description

Date of

loan

Date of maturit

y

Payments$

Amortization

Frequency

Interest rate

Original amount

$Balance

$

1) 2) 3) 4)

Total

NOTE 22: Future income taxes

Client 1

Asset FMV$ Estimated tax rate Future income tax

$

Client 2

Asset FMV$ Estimated tax rate Future income tax

$



NOTE 23: Life, disability and other insurance contracts

Life insurance

Issuer

Underwritin

g year

Type of

contract

Owner

Adheren

tInsured

Beneficiary

$

Annual premiu

m$

Cash surrender value

$

Adjusted cost base

$

Capitalization fund

Death bene

fitPayer


QCDD-A-003

Data Collection Questionnaire

*You can insert your logo here to personalize this document. This docum

ent was created for inform

ational purposes only. The IQ

PF can not be held responsible for errors or losses incurred following its use.

43

2


Comments:

Disability insuranceSalary (group insurance)

Issuer

Premium$

Waiting period

Monthly income

$

Taxation of

benefits

Duration of

benefits

%indexa

tion

Profession

protected for

(years)

Comments: Income loss

Issuer

Underwriting year

Premium $

Waiting

period

Monthly

income $

Duration of

benefits

% indexat

ion

Profession protected for (years)

Comments:

Overhead






44

3

QCD

D-A-003

Data C

ollection Questionnaire


IssuerUnderwriting year

Premium$

Waiting period

Monthly protection

$Duration

of benefitsOther

features

Comments:

Critical illness, long-term care insurance and other insurance coverage

Issuer Underwriting year

Premium$

Insured capital

$Illnesses covered

Comments:



NOTE 24: Legal documents

NOTE 25: Tax information

NOTE 26: Contractual commitments

NOTE 27: Contingencies



NOTE 28: Employee stock program

NOTE 29: Events subsequent to the balance sheet date



APPENDIX B

BUDGETNAME:

PROJECTED BUDGET FOR THE YEAR

EXPENSES Client 1$

Client 2$

Total$

FoodGroceries Restaurant

Subtotal AccommodationsRent, mortgage payment Maintenance and repairs Insurance premiums (home and contents)

Property and school taxes Heat, electricity, water Phone, cable, internet Other

Subtotal

Household operationsDomestic help, maintenance Child care Animal expenses Cleaning products Yard work Other

Subtotal

Furnishings and equipment Clothing (purchases, cleaning)



EXPENSES Client 1$

Client 2$

Total$

Transportation costsAutomobile purchase (cash) Loan payments Insurance, permits Maintenance and repairs Gas and oil Parking Public transit

Subtotal

Health careHealth, dental insurance premiums, etc.

Non-refundable medical expenses Subtotal

Personal careHair care, aesthetician, beauty products

Supplies and other services Subtotal

Leisure and entertainmentPleasure vehicles Sports, camping Shows, outings Books, newspapers, CDs, DVDs, photos, etc.

Collections, crafts Vacations, trips Other

Subtotal



EXPENSES Client 1$

Client 2$

Total$

EducationTuition Books, supplies Other

Subtotal Contributions, donations, gifts Tobacco and alcohol Debt repayment (other than car and mortgage)

Income taxes (federal and provincial)

Financial securityLife insurance Disability insurance (income insurance)

Accident insurance, liability insurance, etc.

Drug insurance Pension plan contributions Other

Subtotal

Miscellaneous expensesFinancial fees Professional fees Union or professional dues Lottery tickets Charitable donations Other

Subtotal



EXPENSES Client 1$

Client 2$

Total$

TOTAL EXPENSES



APPENDIX C

DETERMINATION OF AFTER-TAX INCOME AVAILABLE AND COST OF LIVINGYEAR: NAME:

Client 1 Client 2 Total$ $ $

SOURCES OF INCOME

Employment income Employment or self-employment income (net) Rental income Investment income Support payments received (paid) Annuities and other pensions Other income TOTAL GROSS INCOME

INCOME TAXES AND CONTRIBUTIONSQPP or CPP contributions Employment insurance contributions QPIP contributions Pension plan contributions Provincial taxes Federal taxes TOTAL TAXES AND CONTRIBUTIONS

INCOME AVAILABLE LESS: NON-RRSP SAVINGS

RRSP CONTRIBUTIONS

CHANGE IN CASH AND DEBT2

COST OF LIVING APPENDIX D

2 The change in debt equals the difference in the balance of personal loans.



ESTATE STATEMENT AS AT

Death of the client

1$

Death of the

Client 2$

Simultaneous death

$Net worth according to balance sheet

Plus:Life insurance3 - - - - Insured liabilities Future income taxes Other: Sub-total: Less:Life insurance cash surrender value Death-related expenses Taxes payable on death (note 1) Specific bequests Charitable donations Other Subtotal:

ESTATE ASSETS Plus: Sums received by heirs as

beneficiaries

Less: Income taxes assumed by heirs

Value transferred to universal heirs

3 The life insurance proceeds must be payable to the estate.



NOTE 1: Taxes payable on death

a) Death of the client 1Description Income (loss)

$Capital gain (loss)

$ Total:

×50% = Taxable income

Tax rate: Income taxes: Charitable donations: × rates applicable to the donationTax credit for charitable donations: Income taxes payable on death:



b) Death of the client 2Description Income (loss)


$ Total:

×50% =

Taxable income Tax rate: Income taxes: Charitable donations: × rates applicable to the donationTax credit for charitable donations: Income taxes payable on death:



c) Simultaneous deathDescription Income (loss)


$ Total:

×50% = Taxable income Tax rate: Income taxes: Charitable donations: × rates applicable to the donationTax credit for charitable donations: Income taxes payable on death:



APPENDIX E

CASH POSITION OF THE ESTATE AS AT

Client 1$

Client 2$

Simultaneous death

$Cash and near-cash assets according to personal balance sheet

Plus:Life insurance Registered retirement savings4 Other: Subtotal: Less:Liability to be repaid Cash surrender value – life insurance Death-related expenses Taxes payable on death Specific bequests of cash or near-cash securities

Charitable donations of cash or near-cash securities

Other:

CASH SURPLUS (DEFICIT) Plus: Sums received by heirs as beneficiaries

Less: Income taxes assumed by heirs Cash available for universal heirs

4 If the registered assets are not left to the spouse and are instead included in the calculation of taxes payable on death in the estate statement.



APPENDIX F

RISK TOLERANCE QUESTIONNAIRE NAME:

1. In general, how would your best friend describe you as a risk taker? a) A real gambler b) Willing to take risks after completing adequate research c) Cautiousd) A real risk avoider

2. You are on a TV game show and can choose one of the following. Which would you take? a) $1,000 in cashb) 50% chance at winning $5,000 c) A 25% chance at winning $10,000 d) A 5% chance at winning $100,000

3. You have just finished saving for a “once-in-a-lifetime” vacation. Three weeks before you plan to leave, you lose your job. You would:a) Cancel the vacation b) Take a much more modest vacation c) Go as scheduled, reasoning that you need the time to prepare for a job

search d) Extend your vacation, because this might be your last chance to go first-class

4. If you unexpectedly received $20,000 to invest, what would you do? a) Deposit it in a bank account, money market account, or an insured CD?b) Invest it in safe high-quality bonds or bond mutual funds c) Invest it in stocks or stock mutual funds

5. In terms of experience, how comfortable are you investing in stocks or stock mutual funds? a) Not at all comfortable b) Somewhat comfortablec) Very comfortable





6. When you think of the word “risk,” which of the following words comes to mind first? a) Lossb) Uncertaintyc) Opportunityd) Thrill

7. Some experts are predicting prices of assets such as gold, jewels, collectibles, and real estate (hard assets) to increase in value; bond prices may fall, however, experts tend to agree that government bonds are relatively safe. Most of your investment assets are now in high interest government bonds. What would you do? a) Hold the bonds b) Sell the bonds, put half the proceeds into money market accounts, and the

other half into hard assets c) Sell the bonds and put the total proceeds into hard assets d) Sell the bonds, put all the money into hard assets, and borrow additional

money to buy more

8. Given the best and worst case returns of the four investment choices below, which would you prefer? a) $200 gain best case; $0 gain/loss worst case b) $800 gain best case; $200 loss worst case c) $2,600 gain best case; $800 loss worst case d) $4,800 gain best case; $2,400 loss worst case

9. In addition to whatever you own, you have been given $1,000. You are now asked to choose between: a) A sure gain of $500 b) A 50% chance to gain $1,000 and a 50% chance to gain nothing.

10.In addition to whatever you own, you have been given $2,000. You are now asked to choose between: a) A sure loss of $500 b) A 50% chance to lose $1,000 and a 50% chance to lose nothing



11.Suppose a relative left you an inheritance of $100,000, stipulating in the will that you invest ALL the money in ONE of the following choices. Which one would you select? a) A savings account or money market mutual fundb) A mutual fund that owns stocks and bonds c) A portfolio of 15 common stocks d) Commodities like gold, silver, and oil

12.If you had to invest $20,000, which of the following investment choices would you find most appealing? a) 60% in low-risk investments 30% in medium-risk investments 10% in high-

risk investments b) 30% in low-risk investments 40% in medium-risk investments 30% in high-

risk investmentsc) 10% in low-risk investments 40% in medium-risk investments 50% in high-

risk investments

13.Your trusted friend and neighbour, an experienced geologist, is putting together a group of investors to fund an exploratory gold mining venture. The venture could pay back 50 to 100 times the investment if successful. If the mine is a bust, the entire investment is worthless. Your friend estimates the chance of success is only 20%. If you had the money, how much would you invest? a) Nothingb) One month’s salaryc) Three months’ salaryd) Six months’ salary



SCORING

1. a = 4; b = 3; c = 2; d = 1

6. a = 1; b = 2; c = 3; d = 4 10. a = 1; b = 3

2. a = 1; b = 2; c = 3; d = 4

7. a = 1; b = 2; c = 3; d = 4

11. a = 1; b = 2; c = 3; d = 4

3. a = 1; b = 2; c = 3; d = 4

8. a = 1; b = 2; c = 3; d = 4 12. a = 1; b = 2; c = 3

4. a = 1; b = 2; c = 3 9. a = 1; b = 3 13. a = 1; b = 2; c = 3; d = 4

5. a = 1; b = 2; c = 3

According to John Grable: “Average and mean scores were relatively constant over time, ranging from 25 to 27 after addition.” Even though it is not an official scoring system, it appears that the following scores are reliable with regard to risk tolerance: 18 or less = Low19 to 22 = Below average23 to 28 = Average or moderate29 to 32 = Above average33 and over = HighSource: J.E. Grable and R. H. Lyton, “Financial Risk Tolerance Revisited: The Development of a Risk Assessment Instrument,” (1999) 8 Financial Services Review 163. Reproduced with permission.For the purposes of applying John Grable’s risk tolerance measure, the following chart was developed by the IQPF to convert the score to a target asset allocation:

Score Fixed income Growth shares13 100% 0%

14 to 15 80% 20%16 to 18 70% 30%19 to 22 60% 40%23 to 28 50% 50%29 to 32 40% 60%

33 and over 30% 70%The purpose of this grid is not just to establish the investor profile but to offer a guide on asset allocation that will reflect the client’s risk tolerance. Remember that risk tolerance is just one factor to take into consideration in developing a target asset distribution. Financial planners should also bear in mind the client’s goals, investment horizon, investment knowledge and financial capacity to take risk.



APPENDIX G

DATA TO ENTER IN YOUR RETIREMENT PROJECTION SOFTWARE

Type of income OwnerAnnual income

$

Indexation before

start%

Start

Subsequent

indexation%

End

Salary Client 1 Salary Client 2 Business income Client 1 Business income Client 2 QPP Client 1 QPP Client 2 OAS Client 1 OAS Client 2 RPP Client 1 RPP Client 2 RPP Client 1 RPP Client 2 Rental Client 1 Rental Client 2 Dividend Client 1 Dividend Client 2 Non-taxable Client 1 Non-taxable Client 2 Retirement allowance

Client 1

Retirement allowance

Client 2

Client 1 Client 2



Type of expense

Amount$

Frequency

Annual indexati

on before start

%

Start

Subsequent annual indexatio

n%

End

Cost of living

Mortgage

Account type HolderContribution rights

$

Locked-in amount

$

Market value

$Return

%

RRSP Client 1 RRSP Client 2 TFSA Client 1 TFSA Client 2 DC RPP, VRSP, LIRA

Client 1

DC RPP, VRSP, LIRA

Client 2

Net capital losses

$

ACB$

Non-registered Client 1 Non-registered Client 2



Annual savings Owner Payer

$

Annual

amount$

StartIndexati

on%

End

RRSP Client 1 RRSP Client 2 DC RPP or VRSP Client 1

Employee

Employer DC RPP or VRSP Client 2

Employee

Employer DB RPP Client 1 Employee DB RPP Client 2 Employee TFSA Client 1 TFSA Client 2 Non-registered Client 1 Non-registered Client 2

Locked-in


APPENDIX H

ASSET ALLOCATION ANALYSIS CHARTNAME:

UNREGISTERED INVESTMENTS REGISTERED INVESTMENTS TOTAL INVESTMENTS

Total value After-tax return Total

value Return Combined total

Allocation Profile Risk5 Liquidi

ty

$ % $ $ % $ $ % %

Fixed-income securities

Short term Medium term Long term

Total Growth shares

Canadian International

Total Speculative securities

Canadian International

Total Income-producing assets

Shares of private corporation

Real property Other

Total

Total

5 High, medium, low





66

2

QCDD-A-003

Data Collection Questionnaire


APPENDIX I

ESTATE PLANNING ANALYSIS

CAPITAL REQUIRED AT DEATH

Death of the Client 1

$

Death of the Client 2

$Family cost of living Less:Expenses of the deceased Payments for mortgages repaid at death Cost of living after the death Income available after the deathSurvivor’s income after taxes and savings QPP survivor’s pension after taxes Other income Total income available after the death Annual surplus or shortfall (Income available – cost of living after the death)

Capital required1 Less:- Cash available for universal heirs - Current value of QPP orphan’s pension - Current after-tax value of assets to be sold Additional life insurance required

1 Capital required to achieve net indexed annual incomeBGN (the income must be available at the beginning of the period)FV = $0PMT = Annual shortfallI/Y = After-tax rate of return on investments corrected for inflation: { ( 1 + after-tax return) / (1 + expected inflation rate) } – 1n = Number of years when survivors will need the income.PV = Capital required



APPENDIX J

Professional service contract (template)

City, date

To

Address

Subject: Financial planningRef. no.: File No.____________

Dear Mr./Ms. Client,

Further to our recent meeting, we would like to offer you our services to prepare an integrated personal financial plan, develop an action plan and formulate recommendations that will allow you to meet the financial goals we discussed together.

We are authorized to act in the following fields: financial planning, individual insurance, group savings, (specify other disciplines). We also offer the following financial products and services: financial planning, life and disability insurance, mutual funds (specify).

In particular, our services include an examination of the following: Personal and family situation Financial situation Tax situation Protection situation Retirement situation Situation at death

For each of the areas mentioned above, we take into consideration the financial, accounting and tax consequences, both in the analysis of the current situation and in the formulation of recommendations.



Consideration

For these services, you agree to pay us the sum of ______________ dollars for every hour of work undertaken in relation to this contract, which we estimate to be approximately __________ hours.

The appropriate taxes (GST, QST), along with any fees and expenses incurred, will be added to this price.

You agree to make a down payment of __________ dollars, deductible from the total sum invoiced, the balance of which will be due thirty (30) days after invoicing. Interest of ________% will be levied on any amount unpaid after 30 days.

The present contract may be rescinded at any time. If you rescind the contract, you agree to pay for any hours worked and any expenses incurred up to the date of revocation.

Charges and conditions

As your financial planners, we agree to provide you with a written report that covers all of the items listed below, including analysis charts and recommendations where relevant.

We will inform you of the progress of our work and submit the final report to you in about _________________________. We will then invite you to a meeting at which we will explain our analysis and our recommendations. If additional work is required, you will be informed and additional fees may be charged.

You should understand that the report provided within the scope of this contract may require regular updating. The fees for periodically updating the file can be agreed upon at a later date.

You agree to respond to all questions and to provide the documents required for the execution of the contract, whether they are held by you or by third parties. To this end, you agree to immediately sign letters authorizing us to obtain information directly from third parties. The information obtained from these third parties will remain confidential at all times and will not be used for any other purposes

You understand that our responsibility is limited by access to the documents provided and to their content. The recommendations are based on assumptions and must be updated from time to time to take account of your social and family situation, changes in tax and other laws, as well as developments in the economy and fluctuating markets.

Should the implementation of the recommendations in the report require the services of specialists, our co-ordination and integration fees will be charged over and above their fees.

Sincerely,

(Signature)Name of financial planner (BLOCK LETTERS)Name of financial institution or firm





I, first and last name of client , accept the terms of the present service contract and agree to meet all the conditions outlined.

Signed at

, this th day of (month, year)

(Signature)Client’s name (BLOCK LETTERS)

Note: If remuneration is to be based on commissions on financial products sold, this must be clearly indicated. In such a case, before the purchase of any financial products, it is recommended that an alternative type of remuneration be provided, such as an hourly rate, in case the contract is rescinded, if the financial planner wishes. Financial planners must also disclose in writing to the client any other form of compensation they will receive for the products sold or services rendered, if such is the case. The content of this contract and this note does not provide an exhaustive statement of all the obligations of the financial planner, who is responsible for ensuring that the contract concluded with the client and the presentation of the financial planner’s services comply with the rules that govern the profession.


Documents

QUESTIONNAIRE DE PLANIFICATION · Web view2019. 5. 30. · Client name 1: Client name 2: Clienttype: Questionnaire completed on: Updated: Financial planner: *You can insert your