Liste de contrôle de collecte de données par accroissement pour la planification modulaire

From Planipedia

Thanks to PlanPlus and WEA for sharing their material for this Best Practices Guide.

Obviously, the data collection process will be quite different for comprehensive as opposed to modular planning. With modular planning, you can collect data on an incremental basis. This means that you might need minimal information about your client’s situation to provide your first level of service, with additional incremental data being required to go to the next planning area. Let’s look at the types of information you need to provide service in each area of a client’s financial situation.

Basic Personal Information (For Client and Spouse) – When doing any kind of planning there is some information that is foundational and is required no matter what type of service you intend to provide.

• Full legal name;
• Marital status;
• Date of birth;
• Social Insurance Number;
• Home address, home phone and cell number;
• Email address;
• Occupation;
• Employer and Employer’s address, phone and Fax numbers; and
• Dependants

Incremental Data Required to Provide Investment Planning Services – You might collect summary data from the client or detailed statements to look at the underlying assets more closely. Here’s a summary of what you need at the very least.

• Information on all investment assets including both RRSPs and open accounts;
• Information on personal use assets such as principal residence, cottages, cars etc.;
• Information on business interests;
• Details on all outstanding liabilities including mortgages, investment loans, credit card balances and lines of credit;
• Discussion and identification of risk profile using a logical and relevant scoring methodology; and
• Overview of how current investment holdings are allocated across various asset classes.

Incremental Data Needed to Provide Retirement Planning Services – To offer retirement planning services, you have to collect incremental data about the client’s retirement objectives and some summary level data about their current cash flow.

• Target retirement age;
• Planning horizon (mortality assumption);
• Assumed inflation rate;
• After-tax spendable retirement income required;
• Current pre-tax family income;
• Current annual savings (RRSP and Open);
• Assumed long-term rate of return or alternatively, the target asset allocation to assist in determining a reasonable long-term rate of return;
• Details on eligibility for government benefits (CPP and OAS);
• Details on any defined benefit pension plans;
• Details on any anticipated infusions of investment capital (inheritances, gifts, transformation of personal use assets into invested assets); and
• If your analysis will be a “Life Goals” analysis, you’ll require information about all other goals your client has for the future.

Incremental Data Needed to Provide Education Planning Services – While you have previously identified the client’s dependants, now add in information about their objectives for educational funding.

• Number of years of education funding to be provided for each child (typically 4 – 7 years); and
• Amount per year that the client wishes to fund.

Incremental Data Needed to Provide Needs on Death and Disability Services

• Information on all existing personally owned and group life and disability coverage in force;
• Information on how a company defined benefit pension plan will be impacted on death or disability;
• Information on any loans that are insured for death or disability;
• Identification of how the client’s retirement and other objectives will be affected by death or disability; and
• Information on beneficiary for all life insurance as well as the beneficiary on any assets that allow for a named beneficiary.

Incremental Data Needed to Provide Estate Planning Services – Will information as well as beneficiaries on detailed assets and ACB on all assets are important components of an estate plan.

• Copies of the wills to allow you to determine the distribution under the terms of the wills. Also to ensure that appropriate clauses such as guardianship are included;
• Copies of the powers of attorney; and
• Information on the ACB of all non-registered assets that will be subject to tax on second death (to ensure the tax consequences of crystallization of capital gains on second death is recognized).