The process involves a step-by-step analysis taking into account your age, financial circumstances, income needs, marital status, taxation, estate considerations, risk tolerance and investment objectives. If necessary, we bring in tax and legal specialists as required to help ensure every aspect of your finances is reviewed. After this comprehensive review of your current circumstances, and knowing your clearly defined goals, we then formulate the most efficient strategies to get you there. In clear, plain language we set out and explain the best options for you, taking the time to ensure you understand all of the benefits and drawbacks of each strategy. Together we decide on next steps and draft a step-by-step process on how we will get there. We establish a pre-set meeting schedule to ensure we can monitor and review your progress and make any changes to your plan as life circumstances may change.

Financial Planning For All
From purchasing your first home, expecting your first child, or looking ahead and planning your retirement, we at Sophia Financial Group are with you as you transition through the many phases of your life. We will work with you and your family, consistently providing you with the analysis and professional advice that enables you to make wise decisions at each stage.

From life insurance, investments, educational savings plans, retirement savings plans, annuities, and estate planning, we are able to provide sophisticated solutions to meet your family’s ongoing financial planning needs.

Before constructing a portfolio, we analyze all investment options available including stocks, bonds, mutual funds, exchange traded funds, guaranteed term deposits, annuities and tax-efficient investment vehicles to find the most efficient solutions. We take the time to explain the best investment strategies available to you. We help you understand why specific asset allocations and investment strategies make sense and clearly explain how your portfolio design will help you achieve the outcomes you desire. We clearly articulate how the portfolios we recommend will help you achieve your goals and then monitor and review the portfolios with you at pre-scheduled meetings to ensure you remain on track.

“Thank you as always for your guidance, support and honesty. I feel very grateful to have you in my life.” Ellen M- Client, Vancouver, B.C.

Statistics show that, on average, we are living longer, healthier, more active lives. This is great news, however, from a financial planning perspective, it raises some concerns. If you retire at age 65, this means you have to ensure you have sufficient assets to provide income for 25 years or more. As part of our retirement planning process, we complete a thorough review of your financial assets and liabilities, your pension eligibility and benefits and your income needs. We ask you to articulate what it is you would like to achieve in the coming years, and then we enter all this information in our proprietary analysis tool to determine if your income goals are sustainable based on the current structure of your investments. We clearly outline the choices available to you and the pros and cons of each alternative. Then with your agreement, we establish a step-by-step retirement strategy that meets your current income needs and will sustain your lifestyle in the coming years. The key to proper retirement planning is continuous review and monitoring to ensure you remain on track. At Sophia Financial, this is built into our planning process.

“Tracy and Kamal earned our complete trust as they explained how we can live within our financial means. Our Sophia Way retirement plan addresses our income needs, so we can move forward confidently now and in the future.” Wendy L, Dental Hygienist and Allyson P, Animal Activist – Vancouver, B.C.

At Sophia, we are life insurance licensed and can use our independent status to review the offerings of all top life insurance companies to create solutions that provide the best value for you. Our insurance planning process includes a thorough assessment to determine whether it is cost effective to insure the potential risk and then decide on the best amount and type of coverage to use. We explain your options in clear, easy to understand language so that you have the information you need to make the best decisions to protect your loved ones.

“Thank you so much! Besides much incredible information, tips, and encouragement that I took away from our appointment, one thing really struck me deep and still stays with me was the question about ‘Does anyone care?’ And though I think I have a few people who care, what is overwhelming to me is that you came out of nowhere and you genuinely cared about my situation. I want to applaud you for that. You take a huge risk to help me out. You don't know too much about me, but the kindness and support you poured my way are just unheard of. I never received this caring even from my family, and I usually have to earn every ounce of help that I can find. So, THANK YOU so very much for your incredible instinct and insight. Your help means so much to me.” Rashmi S - Mentee, Vancouver, B.C.

At Sophia Financial, we work with your legal professionals to ensure that you have a valid will in place and to set up trusts if necessary. If charitable giving and endowments are a focus, we work with you to ensure that your wishes can be fulfilled with the maximum tax benefits to you and maximum value to the charity. Some of the tools we can use in effective estate planning are trusts, wills and insurance. These tools, combined with prudent selection, balance and placement of investments, ensure that the estate value is maximized at the time of transfer.

“I wanted to thank you so much for helping me get through this most difficult year while I separated with my husband of 22 years. From the first time that I met you a year ago, feels like a lifetime ago, your wise words have resonated with me as I went through such an enormous life transition. I still can hear you say that we have to look after the 90-year old financially, even though I am only 50. I have come from the ‘darkness into the light’ financially and ‘walked through the fire!!’ I am now finally signed off with my former partner and thanks to having met with you in June, I am able to stay in my house for the next few years, having renegotiated my mortgage to a rate that lowered my payments. The house is in my name at your suggestion, and your guidance was invaluable. I have many friends that are supportive, but your wise words and action plan have made the biggest difference in where I am today. If you ever need anyone to give a testimonial about what you offer, please get in touch with me. I look forward to more workshops in the future and will continue to move through this journey as a strong and capable person.” Laurel M - Workshop attendee, Squamish, B.C.

As part of our financial planning process, we review your portfolios to help ensure that tax efficiency is maintained at all times. This includes reviewing current as well as future tax liabilities.

At specific stages in your life, this planning takes on even more importance. For example, after retirement, it is important to review your various income streams from pensions, investments, real estate income and annuities to make sure they are well coordinated to pay the least amount in taxes. Tax planning is also crucial when families go through divorce or separation to review the tax treatment of property divisions and support payments. Finally, tax-planning issues need to be addressed in the process of estate planning and the transfer of assets to the next generation. Solutions may involve trusts and the use of tax-free life insurance proceeds.

“Thank you for taking the time out of your busy schedule to meet with me today as well as provide me with the referrals. Your knowledge and expertise about divorce, as well as the suggested plan for me, have given me direction to finally deal with outstanding and ‘mind consuming’ issues. I have renewed hope to move on and build a new life - something that I now realize I desperately needed. Your kind words and encouragement were much appreciated.” Sandra T - Client transitioning through divorce, Coquitlam, B.C.

“When divorce made me a single mom, Tracy’s emotional support and wisdom were invaluable. Sophia Financial’s focus on education and ownership gave me control of my new life and even helped me through the process of launching my own successful business.” JILLIAN BICE, President and CEO, Bloom-Enjoy Yourself