Frequently Asked Questions
How and how much do you get paid for your services?
1% of assets under management (RRSPs, TFSA, LIRA, Open accounts, etc.), charged directly through your investment accounts. Our fund portfolio managers will also charge a fee, varying between 0.55-0.95% depending on the portfolio. The fees overall will be similar to most banks, but with more care and access.
How is this different from working with a bank advisor?
The underlying format may be similar than what you are used to - opening investment accounts, walking through an investment portfolio…
What is different however, is the “extras”. Additional care, personalized service, and further knowledge and experience in taxation, entrepreneurship, and insurance.
Can I still work with you if I don’t live in Thunder Bay?
We do about half our meetings on Zoom, even with clients that live just down the street. Although most of our clients live in Thunder Bay, we have clients residing in Toronto, Ottawa, Québec and Winnipeg (oh, and in my home town - Marathon, ON!) So long as you reside in Manitoba, Ontario, or Québec, location is not an issue - let’s connect!
What types of investments would be in my Chenard Wealth portfolio?
We use a blend of passive, lower cost ETF funds, and professionally managed mutual funds. Our Chenard Wealth portfolios use ETF funds as the well-diversified core of the portfolio, with four additional actively managed funds, selected for their unique mandates. When building our portfolios, we carefully consider asset allocation; having an appropriate blend of Canadian, US, and International exposure; and diversification between sectors.
What if my situation is complicated?
We work with many clients with complex situations! What we specialize in is taking all of that in, and focusing on the first 2-3 priorities. For complex clients that have large families, a business, real estate holdings, and/or other considerations - we ensure to take the planning in bite-size pieces. The full implementation of your plan may take longer, but we focus on small wins along the way such as stabilizing your investment accounts, tweaking your contributions, and starting to be more involved in your day to day money management.
Can I include my spouse or family in the planning process?
Of course! Most of our clients complete their financial plans and manage their investments as a family together. We do also have clients that choose to work 1:1 with us as their financial planner, even if they have a spouse. Know that some tax planning opportunities will be best implemented with knowing your spouse’s income and assets, but it’s not a requirement to have a great investment plan.
Do you offer services in French?
Yes! About 25% of our clients are francophone, which surprises a lot of people! Most of our French clients like to get their documents in english, and switch into french for discussion - there’s lots of that happening at the Chenard Wealth office. Vous êtes la bienvenue!
Do I need a certain amount to get started?
We generally work with clients who have $200,000 or more in investable assets—but we know there are always exceptions. If you’re unsure, fill out our quick form and we’ll guide you from there—whether it’s booking a discovery call, offering a one-time consultation, or pointing you toward the right next step for your situation.
I have an old pension from a previous career - can you help me with that?
Absolutely. Most of the times when we bring on a new client, we find an old account or two that have been sitting with an old employer, in an RRSP or a LIRA account. We review what it is invested in, and assess the available options that are in your best interest - often times, that is transferring the account to a new self-directed account with Chenard Wealth, where you can more closely monitor the investments and include in your overall plan.