1. Start with Data Review
Before diving into projections, ensure the client’s personal and financial information is accurate:
Review employment income, savings, registered and non-registered investments, pensions, RRSPs, TFSAs, debts, and other financial details.
Confirm any government benefits, such as the Canada Pension Plan (CPP) and Old Age Security (OAS).
2. Move to the Timeline
The Timeline provides a visual way to explore the client’s key life events and goals:
Discuss important milestones, such as retirement, education events, home purchases, or major lifestyle changes.
Adjust events and goals as needed, and explain how these choices impact the overall plan.
3. Cash Flow – Using the Let’s See Screen
The Let’s See screen provides an ideal space to dive deeper into projected cash flow.
This view allows you and your clients to see how estimated costs, living expenses, taxes, asset purchases, education, travel, and lifestyle choices affect the plan over time. It also highlights periods of surplus income during accumulation years, opening the door to conversations about putting that surplus to work through additional savings or investments.
In its simplified mode, the Cash Flow chart uses clear visuals: blue indicates sufficient liquid assets and income, while red signals a projected shortfall. This high-level view avoids overwhelming new clients while still offering a powerful narrative: “You are projected to have enough liquid assets and income to meet your financial goals and spending needs.”
From there, you can reveal the story step by step:
Tip: Start by turning on details and your legend and hiding all to reveal a fully red chart. This demonstrates all expenses in the plan. Then you can start building the Cash Flow chart back up by adding in income and assets to reveal your strategy for meeting their expenses over the lifetime of their plan.
Start with employment income. If it doesn’t fully cover a major cost (e.g., a large gift), demonstrate how other assets can be used without derailing the plan.
Layer in additional income streams, such as Non-Registered Savings, Pensions, CPP, OAS, and Retirement Savings.
Emphasize resilience: illustrate how the plan adapts, whether through asset drawdowns, government benefits, or income replacement, to meet client goals.
Throughout the walkthrough, ask open-ended questions:
“How does that feel to you?”
“Is this what you expected to see?”
“Day to day, does it feel like you have enough income to cover your spending?”
“What worries you most, running out of money, a market downturn, or health care costs?”
“What does financial success look like to you?”
These check-ins help clients feel heard and engaged while reinforcing your role as their guide.
Tip: In the Let’s See section, you can tailor the conversation by choosing which charts to use. You don’t need to show every view; select the ones that best support your client’s goals and questions. Remember, the drop-down menu (defaulted to “Cash Flow”) gives you quick access to a variety of chart options to guide the discussion.
4. Leverage the Insights Section
Insights allow for scenario analysis and problem-solving:
Stress-test the plan using features like required savings, Monte Carlo Insight, or rate-of-return assumptions.
Run multiple insights to explore combinations of solutions that meet the client’s unique goals.
Tip: You can run a Monte Carlo in advance and save the result. Monte Carlo's can take several minutes to run due to the complex nature of their calculations.
5. Present What-If Scenarios
What-if scenarios help clients visualize the impact of changes:
Demonstrate variations such as early retirement, downsizing a home, increased savings, or altered investment strategies.
Use Compare Plans in the Let’s See section to show side-by-side outcomes for better decision-making.
6. Review Legacy and Estate Planning
Address long-term considerations using the Legacy screen:
Discuss wealth transfer strategies, charitable giving, or estate equalization among heirs.
Illustrate how RRSP/RRIF taxation at death, TFSA balances, or gifting strategies may impact beneficiaries.
7. Generate and Review Reports
Customized reports provide a tangible takeaway for clients:
Create reports with notes and recommendations tailored to the client’s priorities.
Select relevant report types, such as Plan Facts and Assumptions, Financial Summary, Cash Flow, and Asset summaries, and configure appropriate timelines.
8. Invite Questions and Next Steps
Encourage client engagement and clarity:
Prompt questions and address any concerns.
Offer follow-up sessions or additional support as needed.
Tips for a Smooth Presentation
Practice navigating between screens before the client meeting.
Always run insights before the meeting, so you know roughly what the result is and how to explain it.
Use visual aids, such as charts and insights, to make complex information more accessible.
Please focus on the client’s goals, tailoring discussion points to their priorities.
For a Visual Example, please review the video below.