Bill’s Blog | April 21, 2022
I have long believed when a client or friend refers business to you, that is a great compliment and confirms you are doing a great job providing quality service and sales. But how much of your business comes from referrals? A great question. The key is being referable by being integral (a person of your word), knowledgeable, adding value in the marketplace, and being a likable person.
Today I want to introduce to you a few of my referral partnerships. Why? Because they do excellent service with their expertise and add real value to my clients. Second, I have personally used many of these referrals and received great value. Third, I learned a long time ago in business, you cannot be knowledgeable in everything, so partner with other proven and skilled people. So, you may need guidance or service in one or more of my referral relationships, and I encourage you to let me know, and I will connect you.
- Notary Public: Do you need a will done for your estate or expertise in doing a real estate transaction. Jackie and her team have years of experience and can guide you through the process.
- Accountant: Finding a knowledgeable accountant firm that provides excellent service is not easy. Canadian taxation is very complicated and ever-changing. You need a firm that stays on top of things and legally helps you mitigate paying more tax than you need to. Doug and his team serve the Fraser Valley and Lower Mainland with their three offices. Please let me know if you need help as a business owner, professional, or individual, and I can put you in touch with Doug.
- Personal Pension Plan: Many business owners or professionals are not aware they can set up a personal pension. Having a PPP allows you to have significant tax advantages over an RRSP, and you can accumulate $100’s thousands more over several decades towards your retirement years. My referral partners have the expertise and the team to step you through the process. Don’t hesitate to contact me if you would like to learn more.
- Active Discretionary Portfolio Management: Most stock markets have been in correction territory for the last several months, interest rates are rising fast, and we have severe inflation. All these factors and more will impact your stock/bond portfolio performance. Most Canadians have their wealth in passively managed portfolios. You most likely don’t want your car on cruise control if you enter a storm. Passively managed money is like being on cruise control, and yes, it usually works in stable and inflating markets. However, that is not the case anymore. If you have 100K or more family assets and want them actively managed, hedged and protected by a 25-year proven manager, please let me know.
- Insurance strategies: I am contracted as a life insurance broker in BC with one of Canada’s most prominent managing general agencies (MGA) to provide my clients with the best options for Life Insurance, Critical Illness Insurance, Disability Insurance, Travel Insurance, Segregated Funds, GIA’s, Annuities and much more. If you are looking for any of these solutions, please get in touch with me, and I will show you your options.
- Have you got Gold and Silver? Hard assets are a critical place to have some of your wealth in extreme market volatility, high inflation, and geopolitical unrest. I have helped clients purchase gold and silver to hedge their wealth and provide proper diversification for over a decade. I provide guidance and facilitate the purchase of precious metals and the storage option for those interested. The first step is to educate yourself before you invest in precious metals. Let me know, and I will ensure you receive a free copy of one of the best books ever written on the topic (NY Best Seller) on how to invest in gold and silver.
- Banking and Mortgage Solutions: Financing a house is a huge decision, especially when interest rates rapidly rise; you need sound advice. The five-year fixed went from 2.5% to 4% in just six weeks in Canada, and I suspect it will increase. Do you lock in or stay with variable rates? I have two different referral partners, and one focuses on traditional finance from first-time buyers to mature owners, seconds, and a wide range of financing solutions. The second focuses on those with sizable equity who want to pay off their home quicker. Please reach out to me if you need help, and I can direct you to the best mortgage provider.
- Group Benefits or Health Spending Accounts: When employees surveys have been done considering the critical factors for staying long-term at a company, company benefits are consistently near the top. Especially for families with kids, dental and other benefits significantly help during this expensive phase of life. Employers know how critical it is to their success to having stable and skilled people in their company. If you consider adding this valuable incentive to your team (group benefits), don’t hesitate to get in touch with me to discuss your options. PS, I can also help set up a group retirement plan.
I am fortunate to have many quality referral partners, and I do not take this for granted. Each referral provides value to my clients and friends. If there is any way I can serve you or one of my referral partners, please let me know.
All the best in 2022.
Bill Westmacott, Owner
fivefoldfinancial.ca