At Halsey Financial, we offer advisement in a variety of areas, such as stocks and bonds, annuities, mutual funds, estate planning and more. If any of these terms are unfamiliar to you, we've assembled a helpful list of financial definitions. If you'd like to discuss your unique situation with us, feel free to give us a call and book an appointment. We look forward to serving you.
An annuity is an income payment at regular intervals for a specified period of time or for the lifetime of the annuitant.
Bonds are debt investments, used by companies and governments to help finance projects.
Estate planning is a process by which an individual or family arranges the transfer of assets in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death by reducing taxes and other expenses.
Critical illness insurance is a living benefit product that provides lump-sum cash payment on the first diagnosis of one of several contractually specified critical illnesses or events.
“Insurance products and services are provided through Halsey Financial Group”
Financial Planning is a process of logical decision making that is done over a series of stages. We sit together and map out your future financial needs by determining your current financial situation, while considering your financial goals. We work at identifying an alternative course of action. This is crucial for making sound decisions.
Many factors will influence the available alternatives, such as risk tolerance, tax considerations and investment knowledge and preferences. Based on all the necessary information provided, we will prepare and present the “tailor made” plan we have composed specifically for your personal needs. Once the plan has been discussed in full detail and you are completely satisfied, the plan goes into action.
Guaranteed Investment Certificates, GIC and Term Deposits are investment products, usually issued by a bank, credit union or trust company that offers a guaranteed rate of return over a fixed period of time; 30 days to 5 years. Interest rates are usually higher that rates paid on savings accounts.
Income planning is a process of transitioning wealth into income to cover living expenses. There are investments that may be used to generate income and strategies for distributing the income such as: bonds, dividends, mutual funds and annuities.
Life insurance payable on the death of the insured whenever that occurs. Disability Insurance is a form of insurance that ensures the beneficiary’s earned income against the risk that a sickness or accident will make work uncomfortable, painful or impossible. This form of insurance encompasses paid sick leave, short-term and/or long-term disability benefits.
LIFs are similar to a registered retirement income fund, except a LIF receives funds from a “locked-in” registered retirement savings plan. The RRIF minimum withdrawal requirements also apply to a LIF. In addition, the provincial Pension Benefit Acts and the federal Pension Benefits Standards Act impose limits on the maximum amount that can be withdrawn from a LIF in a year.
LIRAs are funds that are transferred to an RRSP from a pension plan. These funds are “locked in” and are inaccessible to the annuitant subject to restrictions of provincial pension legislation.
Long-term care insurance provides financial protection for persons who become unable to care for themselves because of a chronic illness, disability or cognitive impairment such as Alzheimer’s disease.
Mutual funds are money pooled together by investors to invest in a portfolio of securities, usually either stocks, or bonds or a combination of both and is managed by a professional. The dividends or units are redeemable from the fund on demand by the investor.
Retirement planning is a process of setting and reaching financial goals by planning for the “expected”, preparing for the “unexpected” and positioning your portfolio for both, Understanding what’s important to you and your family to help you set and reach financial goals is critical.
RRSPs are a registered plan that allows the investor to save for their retirement while deferring taxes on the contributions and income earned within the plan.
Registered Retirement Income Plans: RRIFs are a registered plan that pays out a prescribed amount each year based on age and amount invested but continues to shelter the remaining assets from tax.
Registered Educational Savings Plans: RESPs are a registered plan that allows people to save towards the cost of a post-secondary education. Contributions are not tax deductible, but income earned within the plan is sheltered. Qualifying deposits can also gain government money through Canada Education Savings Grant and Canada Learning Bonds.
A stock is a form of security that denotes ownership in a company. A stockholder therefore has a vested interest in the earnings and assets of the company they have invested in.
* Halsey Financial Group is a business that may offer non-securities-related financial planning services and insurance products and services. Any specific investment recommendations provided by (Advisor) must be done through Assante Wealth Management. (“Assante”), a registered mutual fund dealer. Although Assante is not responsible for any service or product supplied through Halsey Financial Group, Assante will monitor for conflicts of interest, and investigate any client complaints related to services offered by Halsey Financial Group.
* Please note that insurance products and mutual fund investment products and services are provided through Halsey Financial Group