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Three Benefits of a Holistic Financial Planning Approach

 4 minute read


business banking advisor

Are your financial decisions based on your life and business goals or solely on number crunching?

When it comes to your business' finances and investments, it pays to take a holistic approach.

Financial planning is about more than just focusing on the numbers in your balance sheet and your portfolio. It’s important to look at your financial plan with your personal values, lifestyle and business targets in mind to create objectives that will see you through your short- and long-term goals, creating a foundation for sound decision making and, ultimately, a brighter financial future.

Traditional versus Holistic Financial Planning

In a traditional financial planning model, an advisor would look at a collection of assets, recommend specific investment vehicles that would balance exposure in the market and apply the same approach to achieve one goal – maximize returns. With a holistic approach, your advisor considers your assets, expenses, liabilities, time horizons, lifestyle, legacy goals, as well as the fluctuations in the market to grow and protect your savings.

Holistic planning goes far beyond traditional financial planning. It is a broader and deeper process that includes in-depth member conversations, extensive research, and ongoing analyses.

Three benefits of a holistic financial plan with an expert advisor:

  1. Personalized to align with what’s most important to you and your business

Holistic financial planning requires that your advisor develops a deep relationship with you. They should fully understand your current situation, future opportunities and potential risks, your motivations and concerns, and your overall relationship with money. When an advisor understands you and your business, they can support you through your entire financial journey.

  1. Adaptable to personal and business transitions giving you flexibility when you need it

A holistic approach to your finances and investments means that decisions are made with your priorities and timelines in mind. You will have regular check-ins with your advisor and they will suggest a cadence for check-ins but when something happens personally like a new home purchase, or a baby, or if something happens in your business like a change in your product or service delivery or an expansion or sale, your advisor should be updated. They will constantly be monitoring your plan and portfolio for performance and the need to adjust. By keeping your big picture in view at all times, you’ll have flexibility in your financial plan when you need it.

  1. Comprehensive to give you confidence that your financial plan is always on track

Holistic planning takes all your needs into consideration from managing your money and growing your business, to accumulating wealth and leaving a legacy. Advisors that take this approach, understand your background, wealth accumulation goals and personal values. Consolidating your professional advice will deepen your advisor’s understanding of your entire financial picture. Working with one advisor could accelerate your timeline for reaching your goals.

Advisors with this approach understand the journey of building a financial pyramid, and can help at whatever stage you are at currently.

A financial advisor’s role

A financial advisor taking a holistic approach should:

  1. Build a personal relationship with you.
  2. Meet with you regularly to help and guide you through the issues that matter most to you.
  3. Clearly explain each part of your financial plan, investment selection and how you are tracking towards your goals.

Our Business Banking Advisors take a holistic approach when evaluating your financial situation, goals and aspirations to empower you to make strategic financial decisions. Whether it is everyday financial stresses from business cashflow and managing debts, to feeling like your investment profile isn’t compatible with your business growth goals, by focusing on the bigger picture and working with an expert advisor, tracking these key variables will be easier and less stressful.

Be confident about your financial plan

Get strength and stability in your plan by taking a holistic approach. Our Business Banking Advisors will work with you to reach all of your financial goals. They will build a relationship to understand what motivates you, your business purpose, and what concerns you most, in order to build a plan that fits your life and legacy.

Ready to experience the difference holistic planning can make? A second opinion with an experienced Business Banking Advisor could help identify any gaps in your current plan and clarify what you need to reach your personal, as well as your business financial goals.

Talk to one of our Business Banking Advisors today!

Contact our Member Advice Centre or email us.


Mutual funds, other securities and securities related financial planning services are offered through Qtrade Advisor, a division of Credential Qtrade Securities Inc. Mutual funds and related financial planning services are offered through Qtrade Asset Management Inc. Financial planning services are available only from advisors who hold financial planning accreditation from applicable regulatory authorities.