Episode Description
Don't forget to call your advisor!
Investors should proactively communicate life changes to their financial service providers.
Scenario: Whether it's losing a job (like Tricia) or receiving a bonus (like Saidy), these events warrant a call to your advisor.
The Gap: Investors often don't call because they don't think of it, assume it's irrelevant, or see no benefit—but these changes can significantly impact their financial plan and investments.
Why It Matters:
- Advisors can't read minds and won't know your situation unless you share it.
- Life changes (job loss, bonuses) affect how you should manage debt, RRSPs, TFSAs, and tax obligations.
- Early communication allows for better planning and minimizing financial damage or tax liability.
