Protect & Grow Your Wealth.
Financial Advisor in Toronto
Investments | Insurance | Retirement Planning
Do You Know Where You Stand? Start Planning Today.
As a Toronto Financial Advisor we help you reach your financial goals and free up your time to focus on your family and what you love most.
Comprehensive Financial Planning:
Perfect Planning is better than Perfect Products.
Financial Advice In A Nutshell
Protect Your Income. Grow Your Income. Replace Your Income.
Financial advice comes down to your income. Protecting it against a disability or death before retirement. Growing your income during your working years with a good investment strategy so as to replace your income or salary when you retire. Lastly, covering your basic expenses with some form of guaranteed lifetime income during retirement.
As a financial advisor in Toronto most of what we do is help you organize what you're currently doing so that you feel secure and confident today and in the future. We will never undo any good work you've done up to this point. There are many financial products, none of them perfect. Our job is to help organize it for you so that your income matches whatever life situation you're in.
Where Is Your Money Invested?
Why Start With Protecting Your Income?
Your income is the basis of all you do and how you fund your lifestyle. How long can you afford to go without a paycheque or your income? If you can't go longer than 3 months then you need to insure your income. A disability such as a critical illness or accident is the number one reason your retirement plans will be derailed. Protect your income. Protect your wealth!
Working With A Financial Advisor
What You Can Expect From Blue Alpha Wealth
Working with a financial advisor mainly comes down to fit and personality. Most of what we do is help you organize what you're currently doing. We will never undo any good work you've done up to this point nor advise you in a way that doesn't fit with your personality.
We'll Provide You With Actionable Bite-Size Advice
Even if you decide not to work with us we will leave you with some actionable advice based on our conversation. We won't leave you hanging.
One-Page Financial Plan For Your Prioritized Need
Financial planning and working with a financial advisor can be overwhelming. Breaking things down into priorities helps alleviate this anxiety.
Value of Blue Alpha Wealth As Your Financial Advisor
Financial advice is only as good as the person you ask.
Investment Accounts That Fit Your Objectives.
Types of Investment Accounts
Here are some of the main types of account we provide guidance for clients.
An investing account that allows you to grow your money faster by avoiding taxes today and paying later. Yearly contribution limits based on income. Most suitable if you make more than $50,000 income a year and looking to reduce taxes.
A non-RRSP account doesn't get the same tax benefits as an RRSP or TFSA but has unlimited contribution limits. You pay taxes yearly on your investment gains. Can be held personally or as a joint account. Best used when you maximize RRSP or TFSA.
Should be called "Tax Free Investing Account". No tax deferral like RRSP but you don't pay taxes on your investment growth. Invest anything e.g. stocks, mutual funds, ETFs. Usually confused as a bank savings account. $6,000 maximum contribution allowed yearly.
In the year you turn 71 you are required to close out your RRSP and open a Registered Retirement Income Fund. This is to start taking mandatory withdrawal minimums. It is optional to convert to a RRIF from an RRSP. You can simply liquidate your RRSP.
Use for saving for children's education. You get a match (lifetime maximum $7,500) from the government to help you grow your savings faster. Maximum contribution is $50,000 over the life of the plan. Parents/grandparents can contribute to the plan.
A Locked In Retirement Account is meant to be used to park or "lock-in" pension money from former employers while you're still working. It's a simple transfer or "rollover" to your personal account. Restrictions apply such as not being able to withdraw before age 55.
Your Investment Options
Independent Financial Advisor Providing You Choices.
When you work with it starts with your most urgent financial objective. Then your personal preference, whether you're hands on or hands off, and how much communication you require. All that will determine the fee structure and types of investments and insurance solutions we recommend to you. Ultimately, your main objective is to see enough progress with your plan and ensure you cover off any gaps or vulnerabilities.
How To Ensure A Worry-Free Retirement
Make sure to cover basic expenses in your retirement plan
When working with a retirement planner one of the most important things to address is how you will comfortably cover the expenses you need to live out your retirement. Most people focus on accumulation in pre-retirement years but most retirement planners don't focus on the equally important distribution phase once you stop working. The best way is to use an annuity whereby you convert a portion of your nest-egg to meet this need. The image shows what to consider and how to think about covering all aspects of your retirement plan.
By way of example, assume you determine that you require $70,000 in annual income to support your whole retirement. The example below gives you a high-level guide on how to calculate what you will need to cover in terms of shortfall so you don't run out of money.
Let's Get Started!
Hands-off investment management. Access to discretionary portfolio management. By discretionary, we make investment decisions on your behalf and you get regular information on your performance. We start by discussing the investing philosophy and get your agreement. This fee-based structure gives you direct access with a Blue Alpha Wealth affiliated portfolio manager one on one. Get advice on individual securities, private equity and real estate investments. Ideal for $500,000+ portfolios.
investment fund Portfolio
Hands-on investment management. Active portfolio management where we make investment decisions together in partnership with you. Before we make any changes or investment decisions we advise and consult you and you choose if you want to go ahead (opposite to discretionary). We take an active role in picking appropriate investments to apply to your portfolio and speak more regularly. We use various investment companies for this solution. Ideal for portfolios less than $500,000.
Welcome to Blue Alpha Wealth
Welcome to Blue Alpha Wealth, I'm Carter Njovana, independent financial advisor and partner in helping you gain control and security over your investments, insurance and financial planning. You'll find that having a discussion about how to simplify your situation helps to alleviate the anxiety that comes with financial planning. I don't promise a silver bullet but promise to help make an improvement on your current situation. Get a feel for me if it's worth your while?
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A Financial Advisor So You Retire With Confidence
Working with a financial planner like Blue Alpha Wealth is about empowering and enabling you to make smarter decisions about your future plans and investments as well as growing and protecting your nest-egg over time. Our priority as a financial advisor is to help you gain security and control over your finances. Working with us is also designed to reduce your anxiety and the amount of time you spend trying to figure out what, where and how given the information overload in financial news and commentary. We equip you with the knowledge and tools to feel confident that you will retire on your own terms. This is why working with a financial advisor is always a good bet!
Financial Advisor Services
Where is your money invested? Cash, fixed income, equities, Canada? Do you have a specific investment plan you understand? Do you feel it can be adjusted to better align with your goals? Are you paying attention to the amount of risk you're taking based on your time horizon and investment goals? We'll give you an objective view of what you are currently doing and briefly tell you our philosophy and how it can benefit you
How long can you go without your income or paycheque? How will it affect your lifestyle and your ability to plan for the future, let alone invest? Disability income insurance is insurance for your ability to earn an income in the event you can't work if you're sick or get injured. Get disability insurance for your specific occupation and the type of activities you perform in that occupation.
Why are you investing and why do you feel professional advice can help you? Have you attached specific goals to your money and how important is it that you reach these goals? This helps us understand what you're planning for and what steps best suit your situation and risk profile.
Are you curious about the fees you're paying or perhaps more aware given the media attention? Do you like the idea of portfolio management from experienced money managers that gives you access to different types of investment options typically used by institutions and pension funds? We can help you with this and show you the benefit of discretionary portfolio management.
Have you made yourself prepare for the fact that your retirement could last 20 to 30 years after you receive your last paycheque? It probably hard to consider that if retirement is a few years away but if its 5 to 10 years away it may be top of mind. Either way, the best way to secure a worry-free retirement is to set yourself up with some form of lifetime guaranteed income to cover your basic fixed expenses in retirement. This makes or breaks your retirement as worry about outliving your savings is the number one anxiety people have once they retire. We can project for you when you are likely to achieve financial independence given your savings and spending, and we adjust to get you to that retirement number only you know will remove anxiety.
Accumulation of your nest-egg and investing are usually the fun and easy part when it comes to building portfolios and attaching those to a particular financial goal. However, taxes, if ignored, can easily derail your plans or at least erode away at the progress you make if not planned properly. We maximize opportunities and tax savings tools by looking for ways to optimize your financial plan to minimize income taxes.
We offer group retirement plans with a capped management fee allowing more of your employees money to stay invested while investing in one of the worlds largest asset managers. It also allows administrators to manage the plan digitally and with less paperwork and hassle. We have partnered with Nest Wealth at Work to offer Canada’s best Group RRSP Platform. This fully digital platform is 100% free for employers, and it means no more paper work, a simplified on boarding process, and access to professional financial advice from Blue Alpha Wealth.
Curious About Getting Started?
Blue Alpha Wealth