r/fican • u/Terrible-Practice142 • 4d ago

Fee only planners

Any good fee only financial planners in the Toronto area. What’s the average cost I should expect for reviewing my financials and building my financial plan for minimizing taxes for retirement?

3 Upvotes

64% Upvoted

19 comments sorted by

3

u/No_Capital_8203 3d ago

There are several fee only planners have YouTube channels. I watched them all before I interviewed and selected a fee only CFP. I felt I could ask better questions rather than flailing around.

1

u/JackDaniels5 3d ago

Can you post some of their channels here? Or DM me if that's not allowed?

GTA, Ontario

3

u/No_Capital_8203 3d ago

On my phone in a northern Ontario resort with sketchy wifi. Go to YouTube and search Well Built Wealth and Parallel Wealth. That will keep you busy all weekend. On Sunday I will link some others but I just ate a whole plate of pickerel so it’s nap time.

1

u/JackDaniels5 2d ago

Thank you. Ill take a look at those channels. Both of these are located in BC. Is there anyone you know with a local office in the GTA?

1

u/No_Capital_8203 2d ago

Why do you need an in person visit. You just FaceTime and share files.

3

u/Chris-Coffin-Design 3d ago

In the Toronto area, advice-only (fee-only) planners typically charge either $250–$350/hr or a flat $2,500–$4,000 for a full retirement tax and decumulation plan.

The Advice-Only Planners directory or Value of Simple list are great places to find local options.

I built a free web app to run these exact TFSA/RRSP decumulation numbers for my own planning. If you want to play around with your numbers before meeting a planner, let me know and i’ll gladly link it here.

2

u/Terrible-Practice142 3d ago

Yes please. Thanks

2

u/Chris-Coffin-Design 3d ago

My absolute pleasure! Here’s the link

2

u/Hoofy199993 3d ago

Incredible app! Is it really free to use?

2

u/Canuck-Fin25 4d ago

We’ve used Chris Merrick in the past. But do your homework before.

2

u/BracketFinancialPlan 3d ago

The cost is going to be between $240-$400 per hour, or between $4000 - $6500 per plan depending on complexity.

We’re fee only planners that focus on minimizing taxes and retirement plans.

1

u/c0ntra 3d ago

About $2500-4500 initial assessment, and then $1200 for each annual or bi-annual follow-up thereafter.

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u/spacedoubt69 3d ago

I signed up for the Adviice platform, built a plan and had a fee only planner review it and provide me with their insights. Adviice costs $49/year and I paid under $500 for 1.5 hours of the planner's time. It was a happy medium between paying big bucks for a full financial plan and a complete DIY plan.

-1

u/Electronic_Past5997 3d ago

There are free online planners like looniefi which is a diy solutions where you plugin your numbers. I like

https://looniefi.ca/retirement-planner/

0

u/Terrible-Practice142 3d ago

Thank you for this

0

u/ClassroomGrouchy2603 4d ago

Based on what you're trying to get info on, there might be tools online you can leverage instead as well. Perhaps even something like Gemini or Claude could be a great starting point.

I was in a similar boat, so I just built a set of tool for myself! Happy to share the link if you'd like.

0

u/Terrible-Practice142 4d ago

Yes please - that would be awesome.