Professional Service Contract

PROFESSIONAL SERVICE CONTRACT

City, date

Addressee

Address

Subject: Financial planning

Ref. no.: File no. ______

Dear (Addressee),

Further to our recent meeting, we wish to offer you our services to complete an integrated personal financial plan, establish an action plan and, if necessary, make recommendations concerning the objectives we discussed.

We are authorized to act in the following areas: financial planning, individual insurance, group savings, (specify disciplines). We also offer the following financial products and services: financial planning, life and disability insurance contracts, mutual funds (specify).

For greater certainty, our services will consist of examining the following areas:

Personal and family situation

Financial situation

Tax situation

Retirement planning situation

Estate planning situation

Protection situation

For each of these situations, we will take the accounting and tax consequences into consideration when formulating recommendations and analysing your current situation.

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Consideration

For the services rendered, you agree to pay us the sum of $______for every hour worked in relation to this contract, which we estimate at a total of approximately ______hours.

The appropriate taxes (GST, QST), along with any fees and expenses incurred, will be added to this price.

You agree to make an immediate down-payment of $______, deductible from the total sum invoiced, the balance of which will be due 30 days after invoicing. Interest in the amount of _____% per annum will be charged on any balance unpaid after 30 days.

This contract may be rescinded at any time. In the event the contract is rescinded, you agree to pay for any hours worked or expenses incurred up to the date of revocation.

Charges and conditions

As your financial planners, we agree to provide you with a written report that covers all of the items listed above, accompanied if appropriate by charts outlining our analysis and recommendations.

In particular, we will keep you informed of our progress on your file, and the final report will be submitted to you in approximately ______. We will then set up a meeting to explain the contents and recommendations. If additional work is required, you will be informed and additional fees may be charged.

You should understand that the report may need to be updated regularly. The fees for periodically updating the report can be the subject of a later agreement.

You agree to answer all questions asked and to provide us with all documents necessary to carry out this contract, whether they are in your possession or in the possession of third parties. To this end, you will immediately sign letters authorizing us to obtain information directly from third parties. The information obtained will remain confidential at all times and will not be used for any other purposes.

You understand that our responsibility is limited by our access to the documents provided and to their content, and that the recommendations we offer are only valid insofar as the prevailing social, family, economic and market conditions and laws remain unchanged.

Should the implementation of any of the recommendations made in the report require the services of specialists, our coordination and integration fees will be charged over and above their fees.

Sincerely,

(Signature)
Name of financial planner (BLOCK LETTERS)
Name of financial institution or firm

I, (enter the first and last name of the client), the undersigned, accept the terms of this service contract and agree to uphold all of the conditions.

Signed in / , this / day of / (month, year)
(Signature)
Name of client(BLOCK LETTERS)

Note:If remuneration is to be based on commissions on financial products sold, this must be clearly indicated. In such a case, it is recommended that an alternate type of remuneration, such as an hourly rate, be provided, in case the contract is rescinded.

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data collection QUESTIONNAIRE
client profile

FOR YOUR PERSONAL FINANCIAL PLAN

CONFIDENTIAL

File no.:
Name of client:
Type of client:
Name of spouse:
Questionnaire completed on:
Updated on:
Planner:
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PERSONAL INFORMATION

Residence and employment

Client / Spouse
Mr. / Ms. / Mr. / Ms.
Name: / Name:
Address:
Since(date):
Date of birth: / Date of birth:
SIN: / SIN:
Home phone: / Home phone:
Work phone: / Work phone:
Cell phone: / Cell phone:
Fax: / Fax:
Email: / Email:
employee self-employed retired / employee self-employed retired
Name: / Name:
Address: / Address:
Since (date): / Since (date):
Position: / Position:
Job type: 1 2 3 4 / Job type: 1 2 3 4
1. Permanent2. Temporary3. Independent4. Not employed
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Other information
Client / Spouse
smoker non-smoker never smoked / smoker non-smoker never smoked
State of health: 1 2 3 4 / State of health: 1 2 3 4
1. Excellent2. Good3. Acceptable4. Poor

Details:

PERSONAL INFORMATION (cont’d)
Civil status
Since
(yy) / (mm) / (dd)
single
married / place of marriage:
civil union / place of union:
de facto union[1]
widow(er)
separated
 divorced
Marriage contract
partnership of acquests / separation of property / community of property
other / specify:
Cohabitation agreement
yes /  no / n/a
Waiver of family patrimony
yes /  no / n/a
Will / yes /  no
notarial / holograph / witnessed / date: ______
Mandate in case of incapacity / yes /  no
notarial / holograph / witnessed / date: ______
Children
Grandchildren
Name / DOB / Job / Annual income / Civil status / Last name / First name / DOB
1-
2-
3-
Personal balance sheet as at ______
Client / Spouse / Total
$ / $ / $
Assets
Cash and near-cash assets
Bank accounts
Non-registered investments
TFSA
Other
Personal assets
Principal residence
Secondary residence
Automobiles
Other
Income-producing assets
Shares of a private corporation
Shares of a partnership
Rental property
Other
Registered assets
RRSP, RRIF, LIRA
HBP
Registered pension plan (RPP)
RESP or RDSP
Total assets
Liabilities
Personal loans
Credit cards
Line of credit
Car
Furniture
RRSP
Other
Mortgage loans
Principal residence
HBP
Secondary residence
Rental property
Other
Total liabilities
Net worth
Notes:
Name: ______
Determination of cost of living
Year: ______
Client / Spouse / Total
$ / $ / $
Sources of income
Employment income
Self-employment or business income (net)
Rental income
Investment income
Support payments received (paid)
Annuities and other pensions
Other income
Total gross income
Taxes and contributions
QPP and CPP contributions
Employment insurance and QPIP contributions
Pension plan contributions
RRSP contributions
Provincial income tax
Federal income tax
Total Taxes and contributions
Available income
Less:
Non-registered savings
Change in cash and debt[2]
Cost of living
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PERSONAL AND FAMILY SITUATION

Objectives

Yes / No / Comments
Get married or enter civil union
Get divorced
Enter de facto union relationship
End de facto union relationship
Have children
Other

Documents

Original / Copy / Comments
Marriage contract
Cohabitation agreement
Other

Service contract

After our meeting, we will analyse the outlined objectives and develop an action plan. If necessary, we will formulate recommendations related to the selected objectives. Only the objectives identified above will be analysed.

Our responsibility is limited by the documentation and information provided. Our recommendations will be based on certain assumptions and will have to be reviewed from time to time to reflect your changing social and family situation, changes to tax and other laws, and the fluctuations of the economy and the financial markets over time.The fee for the present contract will be $______.

(Client’s signature) / (Financial planner’s signature)
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Points of analysis for the financial planner based on the client’s objectives

For all objectives, it is crucial to complete the Client Profile.

Objective:Get married
Steps / Reference
Evaluate the effects of marriage or civil union / Module 2, – Sections 2.2 and 2.3
Analyse the various matrimonial regimes / Module 2 – Section 2.5
Evaluate the potential effect of the partition of the family patrimony and the matrimonial regime / Module 2 – Section 2.4
Evaluate the other rights arising from marriage or civil union / Module 2 – Section 2.7
Objective:Get divorced
Steps / Reference
Evaluate the effects of a divorce / Module 2 – Section 2.9
Evaluate the potential effects of the partition of the family patrimony and the matrimonial regime / Module 2 – Sections 2.4.4 to 2.4.7 and 2.5
Evaluate the effects of other rights arising from marriage or civil union / Module 2 – Section 2.7
Objective:Enter a de facto union
Steps / Reference
Analyse the repercussions of living in a de facto union / Module 2 – Section 2.10
Analyse the clauses to include in the cohabitation agreement / Module 2 – Section 2.10.4
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Objective:End a de facto union
Steps / Reference
Evaluate the effects of terminating the de facto union / Module 2 – Section 2.10.2
Evaluate the effects of the provisions of the cohabitation agreement / Module 2 – Section 2.10.4
Objective:Have children
Steps / Reference
Evaluate the legal effects of becoming a parent / Module 2 – Sections 2.2, 2.7.3, 2.10.1 and 2.10.2
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FINANCIAL SITUATION

Objectives

Yes / No / Comments
Evaluate net worth
Evaluate cost of living
Eliminate personal debts
Establish a savings strategy
Review the investment strategy
Help children (or grandchildren pursue higher education
Other

Documents

Original / Copy / Comments
Bank statements(savings, loans, credit cards)
Investment account statements
Tax account statements
Tax returns for the last three years
Notice of assessment
Purchase or long-term lease contracts
RESP investment statements

Service contract

(Client’s signature) / (Financial planner’s signature)