How can Money Coach JM help you?
Money Coach JM helps individuals, couples, and families develop smart financial plans to achieve their goals. Whether you want to eliminate debt, pay off your mortgage early, invest wisely, or plan for retirement, Money Coach JM can help you develop a plan to succeed financially.
The founder of Money Coach JM, Jean-Marie Chan Kin (known as JM), is a Certified Financial Planner® (CFP®) professional and a Chartered Professional Accountant (CPA). He provides Money Coaching Services for a flat fee.
JM is available to support clients from across Canada. Meetings are conducted online using Zoom, for your convenience.
What makes Money Coach JM stand out?
Money Coach JM is renowned for its independence from financial institutions and its high client satisfaction rating. JM focuses on providing personalized financial advice rather than selling financial products, all for a simple flat fee.
Money Coach JM's goal is to empower you to make informed financial decisions. JM offers guidance on managing household finances, debt, investing, retirement planning, insurance, and estate planning in clear, understandable language. The aim is to provide you with personalized, unbiased financial advice to help you achieve your professional and personal goals.
Money Coach JM is dedicated to offering high-quality financial support to as many clients as possible through reasonably priced flat-fee Financial Planning and Money Coaching. Unlike most financial planners in Canada, who charge based on assets invested or commissions from selling investments or insurance policies, JM operates without the bias inherent in a product-based fee schedule.
How do you start working with Money Coach JM, and how long does an engagement take?
You can contact JM through his MoneyCoachJm.com website to book a free consultation.
The process starts with a complimentary, no-obligation consultation. This helps you determine if there's a good match between what you need from a financial professional and the services JM provides. It also gives you a chance to review JM's process and ask any questions you may have.
The services provided include 6 hours of in-person Money Coach meeting time, personalized presentation content, spreadsheets, charts, books, and additional emails/Zoom calls as needed during the 4-month engagement. Topics covered may include:
· Permanent debt reduction
· Effective tax strategies
· Retirement planning
· Cash flow management
· Household budgets that work
· Investment portfolio reviews
· Insurance coverage recommendations
· Ways to improve investing results
· Parenting and money advice
· Access to a trusted network of professionals
Money Coach JM follows a lower-cost model compared to most flat-fee financial planners nationwide and offers an easy 3-month payment plan. During the free consultation, JM provides a personalized all-inclusive quote.
The Money Coach JM Engagement Process
Diagram depicting the Six-Sigma Process approach to Money Coach JM engagement process.
Define - First Meeting
The initial meeting consists of a complimentary 45-minute consultation. The aim is to define the individual's financial requirements. JM will seek to understand the disparity between your current financial situation and your desired one — and pinpoint the specific financial obstacle that needs to be addressed.
During this meeting, JM will cover the following topics:
· Your financial situation and objectives
· JM's background, education, and qualifications
· A Letter of Engagement, which will address all your questions regarding the flat fee, the number of meetings, the process, and expected outcomes
By the end of the meeting, you should have all the information you need to decide whether to utilize JM's flat-fee financial services. No decisions need to be made during this discovery initial meeting, as you will require some time to assess whether there is compatibility between what you are seeking and the services JM provides.
Measure - Second Meeting
After the free consultation, if you decide to proceed, you will sign and return the engagement letter to JM to confirm your commitment.
The purpose of the second meeting is to measure your current financial state, specifically your net worth, by comparing it to a benchmark based on your age and income level. This information is crucial for improving your financial situation in the future.
Before the second meeting, JM will email you a spreadsheet that you can open in Microsoft Excel, Google Sheets, or Apple Numbers. The spreadsheet will already include some of the information shared during the free consultation. It will outline your income sources, list your assets and liabilities, detail your insurance coverage, and provide an estimated annual budget. JM will assist you with any questions before the second meeting.
After the second meeting, JM will provide you with easy-to-understand readings and handouts on financial literacy to help fill any gaps in your financial knowledge. JM will also give you two questionnaires to determine your financial risk profile and assess your financial habits.
Analyze - Third Meeting
This meeting will concentrate on financial analysis. You can expect in-depth number crunching, as analysis is crucial to understanding your financial state.
Before the third meeting, you will send JM your investment details so he can provide a complete analysis of your investment portfolio. This analysis will cover your portfolio performance over time compared to a similar benchmark. It will show you the asset allocation of your total portfolio, how diversified it is from industry and geographical perspective, how much you are paying in fees (MER or Management Expense Ratio), and more. This investment analysis will provide valuable insight into any changes to consider for your portfolio.
In addition to the investment analysis, JM will show you a financial projection based on your current state. The projection will help you understand what changes can be made to improve your net worth over time. Sometimes, it's not just about increasing your net worth; it may involve determining if you can afford to work less, retire earlier, change careers, etc.
One crucial part of the financial projection is your spending level. Depending on your comfort level with your spending, JM will encourage you to track your expenses during the engagement period. This exercise is valuable because it helps you understand your spending pattern and allows JM to validate the spending assumption in your financial projection.
Improve - Fourth Meeting
During the fourth and final meeting, JM will discuss topics that are crucial to you, focusing on how you can improve your financial health. He will provide recommendations for your investments and create different financial projection scenarios to test the viability of the course of action you are considering. This may include scenarios such as retiring early, working less, moving to a different city, changing careers, and more, depending on your interests.
Other topics that can be covered include estate planning, fraud protection, reviewing the adequacy of your insurance coverage, teaching kids about financial literacy, legacy giving, real estate investing, and more detailed investing ideas.
Control - Retainer
JM will be available to assist after the fourth meeting. This assistance will be part of the initial engagement, as you may need time to process all the information. After the initial engagement, you can request an annual retainer package if you need additional coaching to stay on track (in Control). Some clients sign up for the retainer a few years after the initial engagement to review their financial projections in light of significant life changes.
The Purpose of Money Coach JM
JM considers his Money Coaching services a calling to help others. He began offering his services in Fall 2018 and has helped hundreds of people from various backgrounds. His clients range from young individuals who have recently completed high school or college, to middle-aged singles or couples and retirees. His clientele includes physicians, teachers, and corporate managers and executives, primarily through referrals from individuals in these professional fields.
There is a high demand for JM's services, as everyone can benefit from improving their financial well-being. Supporting you and prioritizing your best interests is his top focus.
If you are interested in his services, please contact JM here.
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