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My Blog


Strategic Planning

Posted on March 2, 2016 at 10:12 AM
During a progress check meeting in January, a client revealed to me how appreciative he and his wife was of my service.  It was very heartwarming to me and confirmed that I am doing the proper job of planning strategically.

On a previous meeting they had revealed that one of their biggest concerns was paying down their mortgage.  I asked some questions around that and discovered that it was more important to be in control as opposed to just paying down that particular debt.  

I introduced them to the Manulife One product and showed them the flexibility that it presented, while allowing them the opportunity at any time to deposit as much as they would like (no up to 25% cap) in order to achieve that goal. I also explained that if things don't go as planned, they have the option to then lower payments back to just the interest and that this was important as the future was uncertain.

After careful consideration, they decided to go with the Manulife One product.  They continued the payments they were used to and when more was available, they put down additional deposits.  They told me they could see a bigger difference in the overall debt by using this product and loved the control to do it at their convenience.

However, the most important part of this decision showed up when he lost his job.  He told me he was so happy they had implemented this product as his old mortgage would have been tougher to make changes.  While they loved all the flexibility, none became more important than the ability to just pay the interest without calling anyone, making any appointments to change or restructuring at the time.  They simply adjusted their payments to match their new reality. They were so happy they had chosen this product and thanked me continually.  It made me feel very proud of the job I did. 

You see; part of our strategic plan includes flexibility for when things go wrong.  In Alberta, a lot of folks have lost jobs.  How much scrambling have they had to do to meet their obligations?  Have you ever tried to apply for a financial product after losing your job?  Is that the easiest time to get a yes?  Do you get the rates you would prefer in a situation like that?  Do you even get the product you need at the time? Most folks think that it won't happen to me.  Access to products at this time is similar to access for new insurance.  The time you really need the product is not the best time to apply.  It will likely result in a no, cost more or come with conditions.

Situations like this reinforce to me that what I and others like myself do for our clients is so important and critical to their and our communities' financial well being.  I look forward to helping many more families and individuals make better financial choices.

We appreciate this family and others who have placed their confidence in us.  I like to remind prospective clients that while it may be easier to stay as you are, it may not be the best situation for your family.  My value shows up more in situations like this.  We do sales and servicing.  The servicing is so much more important to a family as time goes by.  I believe this is where we shine.  We don't just get you products and disappear.  We're here for continual advice and help when needed.  We proactively contact our clients for progress check meetings.  We welcome the opportunity to make you a part of that too.

Contact us for a no obligation consult. 

Categories: Strategic Financial Planning

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