SEPTEMBER 28, 2021
By Jillian Stinson
Watch time: 2 minutes
You’ve taken the first step and booked an appointment with an advisor. Nice! But, now what? Here’s a rundown of how you can prepare – and what you can expect from your first meeting with your advisor.
1. Your goals. Before you meet with an advisor, it’s a good idea to have your goals sorted out.
To understand what your goals are, think about things like this:
2. Your financial documents. The next things to prepare are your financial documents. The more information you can bring to a meeting, the better.
Start by gathering up these documents, or noting the amounts:
You should also be prepared to share:
It may feel uncomfortable to share personal information with someone new. But rest assured that your information is kept confidential. The more information you provide, the better analysis and recommendations an advisor will be able to give you.
Your first meeting is a discovery session. This is a chance for you to share your goals and why you’re seeking advice. It’s also a good way to:
This meeting takes about an hour. After that, your advisor may ask you to find any additional financial documents for your follow-up meeting. The second meeting will usually be about a month out. This will help your advisor make the best, customized suggestions for you.
After your first meeting, your advisor may share recommendations.* At that point, you may be ready to start choosing products – like investments and insurance. Or, you may need more time to think. Your advisor can walk you through what to expect for the application and buying process.
*(This depends on the complexity of your needs, and if you provide documentation at your first meeting).
The best place to start is with a plan. Your advisor can help. You don’t need to have money to start this plan. You need a plan even when:
Where you start depends on what your financial goals are. This is unique to everyone.
Your initial meetings with an advisor are free. But of course, advisors get paid once you become a Client and purchase solutions with them that support your needs. They may get a:
Some investments, like mutual funds, include management fees. The advisor selling the investment receives a portion of these fees. If you're looking at insurance, advisors typically receive commission for those products.
Ask your advisor to explain how they’re paid.
Don’t be afraid to interview different advisors to find one that suits you. It’s important to find an advisor that you feel has a clear understanding of your goals and needs. So feel free to chat with a few before buying any products.
Need help figuring out what’s right for you?
An advisor can help put together a solid plan that suits your goals.
This article is meant to only provide general information. Sun Life Assurance Company of Canada does not provide legal, accounting, taxation, or other professional advice. Please seek advice from a qualified professional, including a thorough examination of your specific legal, accounting and tax situation
We acknowledge that Sun Life operates in many Territories and Treaties across Canada. Our Canadian headquarters in Waterloo are on the traditional territory of the Anishnaabeg, Haudenosaunee Confederacy and the Mississaugas of the Credit First Nations.
Today, Canada is still the home to many Indigenous, First Nations, Inuit, and Metis peoples from all across Turtle Island. We are grateful to have the opportunity to work in this territory. We offer this acknowledgment as a stepping stone towards honouring the original occupants, as a testimony to the oppression faced by Indigenous peoples, and our commitment to Indigenous communities and employees of Sun Life.
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