# Financial planner for soon retiree in Victoria



## none (Jan 15, 2013)

Hi,

I have a work colleague who is about 2 years out from retiring. She lives in Victoria and has ~400K to invest.

I understand the workings of investing in low cost ETFs but I don't want to take on the individual responsibility of being her financial advisor. I just don't know enough (and don't want the eventual market correction to hurt our friendship) about end of life financial planning to advise her correctly.

She spoke with someone at coast capital and that advisor wanted to be paid about 1% plus mutal fund fees for a total of around 2%. That's absurd. 

I was going to send her over to Garth Turner's company. They seem priced right and have compentant staff but I think Garth just might be too much of a douche bag to send her to. 

Does anyone know a good fee based advisor in Victoria that they can point me to please?


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## OnlyMyOpinion (Sep 1, 2013)

'Fraid I don't have a specific recommendation for Victoria, but good call on your part.

She wants a fee-only adviser who can analyze her various retirement income stream choices, not just her "~$400k to invest".
Her specific situation (income needs, CPP/OAS/RRSP/pension income sources, home ownership, estate plans, etc.) and her goals will determine which and when her various assets should be tapped for her retirement. There will be several ways forward, a good adviser will account for the above and then lay out the pros/cons of each so she can make an informed decision.


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## fatcat (Nov 11, 2009)

odlum brown ...


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## none (Jan 15, 2013)

Thanks, I'll give them a call.


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## canew90 (Jul 13, 2016)

none said:


> Hi,
> 
> I have a work colleague who is about 2 years out from retiring. She lives in Victoria and has ~400K to invest.


Does she need to draw from the $400k to cover expenses or does she have a pension? Will she be collecting cpp? Has she debt and does he own her home? If she needs to draw capital, how much per year?

If she does not need to draw capital, or the amount needed is not significant, I suggest she view the Connolly Report:
http://www.dividendgrowth.ca/dividendgrowth/


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