Tax plans, managed by accountants, aim to minimize yearly income taxes. They can range from simple strategies for employees to complex plans for business owners. On the other hand, financial plans are comprehensive documents outlining how individuals can achieve their short- and long-term financial goals, considering income, spending, savings, and lifestyle choices.
The conversation emphasizes the symbiotic relationship between a client’s tax and financial plans. It stresses the need for collaboration between financial advisors, accountants, and portfolio managers to ensure alignment between tax efficiency and goal achievement.
Tax Plan vs Financial Plan
Recorded on March 5, 2024
Gord Hardie, CFP®, CIM
Gord joined TriCert Private Wealth in 2010 to build and lead the financial planning team. As Vice President, Financial Planning, Gord is responsible for managing the team, developing financial planning strategy for the organization, as well as providing comprehensive financial plans for clients. Throughout his career, Gord has attained several licences and accreditations from various governing financial service bodies. Gord holds designations as a Certified Financial Planner (CFP®) and Canadian Investment Manager (CIM). Gord began his career in wealth management in 1992 and has worked at various national financial services firms as both a Senior Financial Consultant and a Regional Manager.
