Kenneth Doll, fee-only, advice-only financial planner

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Why did you become a planner?

To help people plan and optimize their financial future by providing objective and unbiased financial planning services without financial product sales.

What is your approach to financial planning?

Conservative. I want to build comprehensive and holistic financial plans that use conservative assumptions and are reasonable and realistic in their recommendations. I aim to build financial plans that you can rely on.

Areas considered and optimized in comprehensive and holistic financial planning:

  • Goals and values – What’s your vision for your financial future?
  • Cash flow and annual budgeting
  • Investing and wealth accumulation
  • Real estate and corporate holdings
  • Retirement planning, including annual income withdrawal strategy
  • Pension inclusion
  • Determine optimal timing for CPP and OAS
  • Risk management and personal insurance assessment
  • Tax minimization and efficiency
  • Asset protection
  • Incapacity planning
  • Estate planning and maximizing your estate value for heirs
  • Capital gains planning for your estate
  • Wealth transfer to the next generation

What is your proudest achievement as a financial planner?

For me, it’s seeing the “a-ha moment” for clients, in their reactions when I present their financial plan. Nothing is more satisfying than to be able to tell someone that the last 40 years of hard work, sweat and tears has been worth it, and that they have made it—they have sufficient funds to live the remainder of their life in their chosen lifestyle.

Also, being a hockey fan, doing financial plans for NHL hockey players is exciting.

What is a client success story you can share?

A client thought he needed to work two more years before retiring, but with the financial plan I prepared, he and his spouse (who is already retired) now see they have more than enough money to fund their current lifestyle for the remainder of their lives. The client is in the process of providing his retirement notice to his boss and will be done work and retired by this summer.

By determining the best time to begin their CPP and OAS, the couple will receive an additional $60,000 and $125,000, respectively, by age 95.

They wanted to take their OAS at age 65, but it would be clawed back as soon as they take it. By restructuring how they draw their RRSPs, and by starting OAS at 68, we managed to defer any OAS clawback until age 91, and then only minimal clawback the last few years.

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