Frequently Asked Questions

Since you're a Financial Advisor, does you have to sell specific company products?

Golden Compass Wealth Advisors Inc. works independently and has all the company’s representative. So we will always recommend the right and the best product for our clients.

Who does your product research? What are their credentials?

Our product research is done by Jason and Lucia at whole sale meeting. We are focusing on client’s need. The different product types from stocks to mutual funds, Insurance products and mortgage products allow for a creative portfolio while keeping taxes and fees low to maximize returns and implement client’s financial goal sooner.

How often do you review the products for continued quality?

Products are reviewed all the time. At Golden Compass Wealth Advisors Inc. we believe in using method of a smaller number of products are reviewed by specialist and reviewed again on whole sale meeting which allows us to continue to monitor them on an ongoing basis. Since we are watching them so closely it also allows us to act quickly in the event that we see a change that needs to take place.

Do you offer a Discretionary or non-discretionary investment style?

At Golden Compass Wealth Advisors, we offer a non-discretionary style. We believe in having our clients involved in the execution of their plan. We work as a team which means that we are always informing our clients and getting their approval before changes are made. We believe it is important that our clients understand why things are being done a certain way.

Do you offer products from many companies or just your own?

The company “Golden Compass Wealth Advisors” is an independent financial planning firm. This allows two different things. Firstly it allows us to choose the products that fit the clients situations best in order to achieve their vision/goal. And secondly it allows us to spend time working with our clients on all the other areas of financial planning outside of investing. We have the ability to work with clients on areas concerning estates, inheritances or bequests, aging parents, children’s education, business succession, insurance, and any other matters that come up in client’s situations.

Do you address my goals?

Product selection is largely based on the goals of the client. At Golden Compass Wealth Advisors (GCWA), we have a very specific and unique process. In the past, clients have told us they would like to get crystal clear on their goals and the plan to achieving those goals. We have developed a process that focuses on all areas, one at a time based on its priority, which allows us to accomplish something at each meeting. When was the last time you met with your advisor and you left and felt that you had actually accomplished something? Each meeting takes you one step closer to achieving your Vision when you work with GCWA.

How do you invest given my age, income, risk tolerance and tax bracket?

All of these factors are taken into consideration when selecting product allocation and portfolio construction. However, there is also one more important factor that needs to be discussed before any investment recommendations can be made and that is whether or not the money is needed for cash flow. If your advisor is not taking the time to determine if you will need any of the money to supplement cash flow in the short term prior to making recommendations they are not considering perhaps the most important factor.

Do you educate me on what is in my account?

The foundation of our philosophy is educating the client. We believe it is important to work as a team with clients but most importantly it is important to have a client who understands why something is in their portfolio. An informed investor who understands why a decision is being made and how it will help them to achieve their vision is important to the success of the plan.

Much of my money is taxable. What strategies do you implement to control taxes?

There are a number of things that you can do to ensure you are paying as little tax as possible. One of the easiest things is to ensure you have the highest taxable earning investments in your registered accounts with the lower taxable investments, like capital gains, in the non registered account. We have CPA/CGA associate in our firm and therefore we also do personal tax returns for our clients which help us to ensure that our clients are in the best possible situation at tax time.

How often will we meet for a face to face review meeting?

We meet with our clients on a quarterly basis...face to face. This is important to ensure that we are all on the same page in full understanding of the client’s vision and goals. By meeting quarterly it also allows us to spend focused time on each topic that needs to be addressed and to actually accomplish something at each meeting. By prioritizing, we can ensure that we cover all the bases over time and as things come up we can address them as a priority or add them to the list.

Do you charge extra for financial planning?

No. Our model is a financial planning model and being an independent planner allows us the time to spend on financial planning without having to charge extra for it.