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Read MoreThe 11 Best Financial Planners in Toronto [2022]
The average person will spend more than $150,000 on their lifetime and the majority of it is on things they don’t even remember.
If you want to stop living paycheck to paycheck or if you want your money to work for you instead of the other way around, then a financial planner might be able to help. They can give advice on how much money you should save for retirement and what types of investments are best suited for your needs.
Here in Toronto, we are lucky to have a wealth of financial planners to choose from. We’ve compiled a list of the 11 best ones for you to check out.
Summary
How Much Does it Cost to Hire a Financial Planner in Toronto?
Financial planners can be expensive. That’s probably one of the biggest reasons why only about 30% of Canadians have a financial plan in place. But there are ways to make it more affordable. The average fee for a financial planner is around 1-2% of your total investable assets.
But there are a few things you can do to reduce the cost. For instance, many planners will discount their fees for clients who agree to have their money managed through the planner’s firm. You could also try to find a planner who charges a flat rate, which is usually around $2500 – $8000 for a comprehensive financial plan.
$8000 for a comprehensive financial plan.
Finally, remember that a good financial planner is worth his or her weight in gold. The advice and guidance you receive can be priceless – especially if it helps you achieve your financial goals.
The Best Financial Planners in Toronto
Now that you’ve learned a little bit about how much it costs to hire a financial planner and who some of the top planners in Toronto are, you can figure out which one is best suited for your needs.
Here is our list of the 11 best financial planners in Toronto:
11. Daniel Charendoff
Daniel is a Canadian Certified Personal Financial Planner (PFP) with over 10 years of experience working with clients from all walks of life.
He understands that everyone’s needs are different and will work closely with you to create a personalized financial plan that meets your specific goals.
Whether you’re just starting out or nearing retirement, Daniel can help guide you through every stage of your financial life.
He is also well-versed in the current investment environment and can recommend strategies that will get the most out of your portfolio while minimizing risk.
With Daniel’s guidance, you’ll be able to focus on what’s important – meeting your short and long-term goals – without having to worry about finances.
His process is straightforward: he helps identify personal objectives, develops an individualized investment plan tailored for each client; then regularly reviews it as circumstances change.
Business Information:
Address: 382 Yonge St #4, Toronto
Phone: (416) 928-1815
Website: financialplanner.bmo.com
| Pros | Cons |
| Over 10 years of experience | Rates not disclosed |
| Creates personalized financial plans | |
| Work with clients from all walks of life | |
| Identifies clear objectives | |
| Adapt as your situation changes |
Customer Review Highlight:
"Daniel’s technical investment knowledge and responsive customer service skills are highly superior and second to none."
- Bruce Drewett
10. Kind Wealth Financial
At Kind Wealth, you’ll find a team of experienced financial planners who can help you achieve your long-term goals.
They offer comprehensive planning services to individuals and families, with a focus on helping clients reach their targets. Plus, they provide a free initial consultation to all new clients!
The company offers different price points so that everyone can afford the advice they need. You just have to complete a brief online survey and then they’ll hold a free initial consultation by phone – during which they can answer any questions you may have about their services.
After that, they will match you with one of our experienced planners who will give you an exact quote for the work involved.
They take care in understanding your whole life rather than just looking at your money situation; this allows them to build dynamic plans which adjust as life throws curveballs your way!
Charges are billed-as-you-go as a flat fee on your credit card so there are never any hidden surprises down the line!
Business Information:
Address: 2 Prennan Ave, Etobicoke
Phone: (289) 812-9912
Website: kindwealth.ca
| Pros | Cons |
| Has a team of CFAs | Can get pricey |
| Comprehensive planning services for both individuals and families | |
| Different prices avaliable | |
| Personalized services | |
| No hidden fees |
Customer Review Highlight:
"It is with great pleasure i give this wonderful business a 5 star review. I have worked with their team since their beginning and firmly trust and believe in their motto of fair clear pricing and community, sustainable investing and being kind. David is a work horse and just a very good person, my advisor from his team has been nothing short of amazing for my families financial goals. I cannot speak highly enough about KindWealth! "
- Paul Venditti
9. Caring for Clients
If you’re looking for help achieving your financial goals, then look no further than Caring for Clients.
This fee-only financial planning firm works with business owners, divorcees, newlyweds, ageing parents and more to create a customized plan that will allow them to achieve their dreams.
With a team of talented and enthusiastic planners who combine their individual skills and experience to provide an enhanced level of service and care – it’s hard to find anything better elsewhere.
Caring for Clients takes the time to understand what your goals are so they can develop a tailored plan that allows you to attain them.
Services offered include cash flow management, education planning, investing, retirement planning estate planning and more!
During your consultation appointment, they’ll discuss all aspects of your current finances in order to get a clear view of where you stand currently as well as hear any ideas or solutions you might have about how to improve things.
Plus – the best part is initial consultation is free! So there’s nothing stopping from giving this company ago today.
Business Information:
Address: 69 Yonge St, Toronto
Phone: (416) 363-8500
Website: caringforclients.com
| Pros | Cons |
| Has a team of CFAs | Can get pricey |
| 20+ years of experience | |
| Constant support | |
| Personalized services | |
| Free consultation |
Customer Review Highlight:
"I don't know what we'd do without Rona and the rest of the Caring for Clients team. They have been our most trusted source of guidance and advice for all of our major financial decisions. We know that our financial wellbeing is Rona's priority in working with us. As a bonus, her patience and guidance have allowed me to shift from being absolutely overwhelmed by all things financial (I'm talking nearly fetal position) to feeling that it's not all that complicated after all. I still need her help, but she's helped me understand that it's not so scary as it seemed."
- Dan Trommater
8. Affinity Capital Management Inc.
Affinity Capital Management is a Toronto-based financial consulting firm that offers a wide range of financial planning services.
The company’s focus is on helping its clients achieve their long-term financial goals by providing professional advice and support when life throws curveballs your way.
Clients who opt in to their fee-based services included in their comprehensive package have the added benefit of having Affinity’s team act as their personal CFO – meaning you’ll always have someone reliable to help manage your finances, whatever comes your way!
Their team provides professional advisory services for retirement, insurance, tax planning and preparation, estates and wills, and investing with a socially responsible perspective.
At Affinity Capital Management they believe that everyone has the right to explore investment options that align with both their financial goals and values – promoting an approach to investing that integrates sustainable growth opportunities with proven superior risk adjusted returns while encouraging a positive ESG (Environmental Social Governance) impact!
Affinity Capital is here to help you plan your financial future, whether you’re a beginner or an experienced investor.
They offer free exploratory meetings so that you can ask any questions and get started on the right foot. There are no obligations, so it’s completely risk-free for you to book an appointment!
Business Information:
Address: 45B West Wilmot St suite 208b, Richmond Hill
Phone: (416) 333-8625
Website: affinitycapital.ca
| Pros | Cons |
| Has a team of CFAs | Outsources some areas outside of their expertise |
| A range of service packages | |
| Support social causes | |
| Personalized services | |
| Free consultation |
Customer Review Highlight:
"I have been with Affinity Capital for about two years. I do not have a lot of money for investments, but the service I have received has been second to none. Anup has always made time for me by phone, email or in person. He responds to every email. He has impressive knowledge about financial products, and always provided me with straight, honest and detailed explanations. Anup never tries to give you anything that you do not want or need. He always focuses on you and your needs as an investor rather than what would profit him. Plus, he is a kind, warm and compassionate person. Highly recommended! "
- Adrianna Thornton
7. Kurt Rosentreter
Kurt Rosentreter is Canada’s leading certified financial planner, and for over twenty five years he has been helping families manage their finances in a stress-free way
Kurt relies on his common sense and easy to understand approach when it comes to helping people reach their goals and dreams.
As your personal CFO, he offers one source for all of your personal finance advice needs – there are no standard fee schedules here!
Fees are custom designed with no minimum client size, so everyone can benefit from this team’s wealth of knowledge. Plus, the fees are revisited every year to ensure that you’re getting good value for your money.
During your consultation with him, Kurt will integrate all aspects of your planning into one cohesive plan – tackling priorities such as pre-retirement planning, children’s savings plans, post retirement income design, and more.
In order to keep you on track towards reaching these goals they will monitor your progress during the year and help develop new priorities where necessary. All services provided by their team come at an affordable price that is flexible enough to fit any budget!
Business Information:
Address: 3 Church St #302, Toronto
Phone: (416) 628-5761 ext. 0
Website: kurtismycfo.com
| Pros | Cons |
| 25+ years of experience | Price on the higher end |
| One-stop-shop for personal finance advices | |
| No minimum client size | |
| Fees are constantly updated | |
| Consitent monitoring of progress |
Customer Review Highlight:
"Signing up with Kurt more than 15 years ago put me on a path to financial security. Kurt took the time to understand my investment goals, then leveraged his wide-ranging financial expertise and solid experience to design the right portfolio for me. Through the years, he worked closely with me to update it as needed. He has been my go-to person for financial guidance. He is trustworthy, reliable, and easily accessible. He and his team embody competence, professionalism and top-notch customer service. Very highly recommended, indeed!"
- Maria G
6. Parkhouse Financial
Parkhouse Financial is a full-service financial planning firm that has been in business for over 15 years.
Led by Nathan Parkhouse, who is a Certified Financial Planner (CFP), Chartered Investment Manager (CIM®), and Financial Management Advisor – he specializes in providing peace of mind through investment and insurance solutions that maximize results while minimizing risk.
His focus is on ensuring your wealth stays sheltered from over-taxation, helping you grow & preserve your investment assets tax efficiently, protecting your capital from short term market volatility, and accessing your investments whilst minimizing taxation.
His 3 step process includes an initial consultation, strategy discussion & plan execution, and ongoing servicing – so they can provide guidance, create options and achieve real results for their clients!
Nathan Parkhouse is the best person to talk to if you want to find out how you can optimize your financial position in order to maximize your wealth.
He has all the expertise and knowledge necessary to help make this happen, so don’t hesitate to get in touch with him today!
Business Information:
Address: First Canadian Place, 1, Suite 5700, Toronto
Phone: (416) 838-3617
Website: parkhousefinancial.ca
| Pros | Cons |
| 15+ years of experience | Outsource some jobs to others |
| Certified Financial Planner (CFP), Chartered Investment Manager (CIM®), and Financial Management Advisor | |
| Knowledgeable in minimizing taxation |
Customer Review Highlight:
"We have been working with Nathan for longer than 5 years now, and we've found him and his team to be top notch. They provide well thought out advice on both the strategy and investing levels and are always very quick to respond to any comments, questions, or concerns sent their way. I would highly recommend them to anyone looking for a solid, reliable investment team. Thank you Nathan and gang!"
- Attilio Commisso
5. Merrick Financial Inc.
Merrick Financial is a fee-only financial planning firm that focuses on helping clients build, manage and protect their wealth. Their goal is to help clients achieve both short-term and long-term goals through comprehensive financial plans tailored to each client’s circumstances.
Clients come to them when they have a big decision to make and are looking for advice when it comes to inheritance, consideration of a large purchase, changes in their business, tax problems, retirement, change in marital status, executive compensation questions, and more.
Their services are open to all residents of Ontario regardless of income or asset levels – from “just getting started” up into the millions!
They’re based out of Ontario but don’t hesitate reach out if you’d like some face time via video conferencing or even just over the phone. Plus they offer other great services such as retirement planning and investment analysis!
What’s really awesome about this team is that no two plans are alike – your plan will change as your life changes! Services include (but definitely aren’t limited too) things like: financial planning, retirement planning, investment analysis, and more.
Business Information:
Address: 53 Coleridge Ave, Toronto
Phone: (416) 822-1702
Website: merrickfinancial.ca
| Pros | Cons |
| Known for their great financial advices | Their may be extra fees for additional communications |
| Well trusted in the community | |
| More affordable than most |
Customer Review Highlight:
"We hired Chris to determine if we could retire in our present situation and assuming so, to create a financial plan for our retirement. Chris was amazing and made himself available on extremely short notice so we could make some key decisions quickly. He provided a full analysis of our options and his fees were very reasonable. Other planners were more expensive and unable to give us an appointment for at least a month. I highly recommend you visit Chris ... sooner rather than later!"
- David Foster
4. Buxton Financial
Buxton Financial is a fee-only financial planning firm that has been in business for over 25 years. The company specializes in helping clients save for retirement and manage their debt.
Their retirement planning specialties include private corporate strategy, managing an inheritance, pension decisions, and divorce settlements – but they’re not just about retiring from work!
Their team of retirement planning specialists can help you create a plan that allows you to retire with the lifestyle you want. They also offer services including estate planning, tax planning, and more.
Your Retirement Income Specialist – who is also a CFP® Professional – works to put together a comprehensive plan that meets your specific needs.
You will have action steps to share with your other professional advisors (ie lawyer, accountant, investment advisor etc.) If you need a referral to another professional advisor Buxton Financial are happy to provide one free of charge!
Best of all, they offer complimentary initial consultation so there’s no reason not give them try today!
Business Information:
Address: 150 King St W #232, Toronto
Phone: (416) 628-4502
Website: buxtonfinancial.ca
| Pros | Cons |
| 25+ years of experience | Sometimes difficult to contact |
| Specializing in retirement | |
| Creates plans based on your lifestyle | |
| Offer referral to other professional advisors | |
| Free consultation |
Customer Review Highlight:
"Buxton Financial created a Financial Plan responsive to our needs and mapped out a retirement framework well into the future. This plan will be the framework to guide our financial decisions with comfort and less stress.
Marlene was very thorough, provided excellent knowledge transfer, and helped us make several critical decisions for our finances.
Thank you to Marlene! "
- Baldey Gary
3. Kismet Wealth Group Corp.
Kismet Wealth Group Corp. is fully diversified financial and professional services firm located in Toronto’s historic St Lawrence Market area – so whether you’re looking for wealth management solutions or real estate advice, they’ve got you covered.
They are home to some of the best financial planners in the industry. With a team of experts that can help you with all aspects of your financial life, they offer comprehensive services such as retirement and education planning, insurance advice and management, and more.
They measure their success not by traditional benchmarks, but by how much their clients net-worth gains on an annual basis. Their team of experts are devoted to ensuring that each and every one of our clients sees a significant return on their investment – no matter what the market conditions may be.
Their team has years of experience in the industry and will work with you to create a plan that fits your specific situation – no matter what it may be!
They work with clients from all walks of life including medical professionals, legal professionals, family businesses and high net-worth families
Business Information:
Address: 694 The Queensway, Etobicoke
Phone: +1 855-683-4381
Website: kismetgroup.ca
| Pros | Cons |
| Ideal for business professionals | Rate not available on website |
| Specializing in wealth management | |
| Large team |
Customer Review Highlight:
"I am a true believer in knowing and understanding your own personal strengths and going to the right people for their strengths - Victor Godinho is just that. Victor has always been our go to person for financial advice, for both, our business and personal endeavors. Victors professional advice is always straight to the point and yet he is extremely compassionate towards understanding our needs in that moment.
Victor is always current in his knowledge to provide us the best service possible. Through his expertise and consistency, we have been able to really build a strong trusting relationship with him and the team at Kismet. Where the expertise does not lay with Victor, he is sure to bring us to the right Kismet team member, ready to tackle the next goal. "
- Priya Panchal
2. Rosedale Family Office
Rosedale Family Office is a multi-family office that has been serving families across Canada and the United States for over 20 years.
They help their clients achieve their goals through comprehensive services such as investment management, tax and estate planning, business and succession planning, charitable giving and more – all customized to fit your family’s needs.
The Rosedale Process is a unique and comprehensive financial planning process that helps you achieve your long-term financial goals.
Their team of experts can help with all aspects of your financial life, from estate planning to tax planning and everything in between.
Rosedale Family Office offers a wide range of services that can help you meet your wealth objectives. With over two decades of experience in the industry, they have the expertise necessary to create a plan tailored specifically for you.
Just as you take a long-term approach to managing your finances, Rosedale Family Office takes pride in building relationships with their clients that will last generations
With over 100 years of combined experience, they are a diverse team of experts dedicated to getting know you personally in order to craft real solutions securing your hard earned legacy – giving you confidence and peace of mind
Business Information:
Address: 10 Alcorn Ave Suite 300, Toronto
Phone: +1 888-585-1962
Website: advisor.wellington-altus.ca
| Pros | Cons |
| 100+ years of combined experience | Sometimes difficult to contact |
| Experts in all aspects of financial planning | |
| Long-term approach to managing your finances |
Customer Review Highlight:
"I have had a great experience with Rocky and the team, my families financial plan is finally in order, simple ideas have been implemented and wrapped in a bow, highly recommend this experienced team of professionals"
- Lola Kinto
1. Objective Financial Partners Inc.
Objective Financial Partners Inc. is a fee-only financial planning firm that has been in business for over 25 years. Their leading team of experts can help you with all aspects of your finances and set you up for a secure future.
They have been providing flat-fee and hourly fee-only financial planning advice to clients worldwide since 2012, and sell no products whatsoever – their sole purpose is unbiased, objective financial, tax, and estate planning advice.
Their clients have a net worth ranging from zero to several million dollars, as well as varying income levels.
They offer services such as retirement planning, investment planning, tax planning – plus many more!
You’ll find an abundance of resources on their website that will equip you with the knowledge needed make sound financial decisions for yourself .
At Objective Financial Partners Inc., they don’t sell investments – which is why you can trust that their advice when it comes to your financial plan will be completely objective.
They’ll take the time to understand your unique situation and build a plan that’s tailored specifically for you, so you can reach your long-term goals without any stress or hassle.
Business Information:
Address: East Tower, 675 Cochrane Dr 6th Floor, Markham
Phone: +1 855-691-8471
Website: objectivefinancialpartners.com
| Pros | Cons |
| 25+ years of experience | Expensive |
| Flat-fee and hourly fee-only financial planning advice | |
| Works clients from all walks of life | |
| Lots of educational resources on their website |
Customer Review Highlight:
"Working with Brenda Hiscock to do a financial plan for me and my partner was one of the most worthwhile expenditures we have ever made. We thought we were in a good position but with Brenda's thorough process and depth of knowledge, we now have a detailed plan and
the confidence we needed to pull the trigger on some long awaited goals - like buying a vacation property and early retirement! Brenda was excellent in explaining the pros and cons of various scenarios and providing guidance on a variety of options. I felt like I had a trusted and knowledgeable financial guru in my corner and the outcomes of this financial planning process have literally changed my life. I highly recommend this process for anyone who would like to move from a "gut feeling" of where they sit financially, to a solid plan with which to make confident life changing decisions and I highly recommend Brenda as a skilled professional with a caring personality who derives joy from helping people use this knowledge to fulfill their dreams. I wish I had done this years ago. Thank you again Brenda! "
- Bianca Wong
Things to Consider When Choosing a Financial Planner
Choosing a financial planner to help you achieve your goals can be a big decision. It’s important that you find someone who can explain things in a way that makes sense to you and ask the right questions. Here are some of the most important things to consider:
- Do they charge by the hour or as a percentage of assets under management?
- How do they invest their clients’ money?
- What is the planner’s experience and education?
- Are they licensed to give financial advice in your province?
- Do they have a good reputation?
- Do you feel comfortable working with them?
Finding a financial planner who is a good fit for you is important. Take the time to ask them the right questions and find out as much as you can. Once you’ve found someone, sit down with them and discuss your goals. They should be able to help you create a financial plan that works for your lifestyle and aligns with your values.
FAQs About Financial Planners
A financial planner can help you with a variety of things, such as retirement planning, estate planning, tax planning and investment advice. They can also help you create a budget and stick to it.
A financial advisor typically sells products such as mutual funds, stocks and insurance policies. A financial planner, on the other hand, provides advice on how to best use your money – whether it’s investing, saving or spending.
A good financial planner can help you achieve your financial goals. They can provide advice on everything from saving for retirement to buying a home. They can also help you create a budget and stick to it.
Only you can answer that question. But if you feel like you could use some help with your finances, then a financial planner might be right for you.
Conclusion
As you can see, there are a lot of great reasons to hire a financial planner. They can help you plan for retirement and save more money. And they will investigate your current investments and give advice on how to make them better suited for your goals.
If you’ve gotten this far, chances are that the benefits of hiring a financial planner may outweigh the costs. Now it’s time to find the one best suited for you. We hope this article has given you some ideas on where to start looking and who some of the top planners in Toronto are.
If you require additional financial assistance to pay off your bills, check out our list of the 7 payday loans companies in Toronto.
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