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Sault professionals share “well-kept secret” for planning for your future

Local families who created a long-standing business by helping fellow Saultites build wealth share tips for financial success in 2022

Brothers Keith and Mark Donnelly take pride in their local IG Private Wealth Management team, Donnelly Group, being a “well-kept secret” in our community. 

For over three decades the members of Donnelly Group have been helping individuals and families build wealth. For the Donnelly team, running their financial advice practice is not a job – it’s a way of life. They are heavily engaged in the social lives of clients who typically become friends.  They also take an active role as business owners in the community – supporting the local Alzheimer society, Sault Area hospital foundation, and other local organizations. They’re always happy to spend time giving advice to anyone in their community who is looking for financial confidence. The team recently sat down with us to share some of their top tips.

#1 – Set Meaningful Goals

For team Associate, Michelle Olive Hayes, goal setting is important for success: “Goals are dynamic, for some people retiring early is their number one priority, for others, it’s purchasing a camp. Really honing in on what matters most to you, and prioritizing these things, is important to creating successful strategies.”

#2 – Slow and Steady

Keith often tells clients, “Your investment plan should help you achieve your goals without putting you at undue risk. That’s the secret; people need to build a plan and stick to it with discipline.”

#3 – Understanding Tax Savings vs. Tax Deferrals

It’s often unclear what strategies save tax, and what strategies defer tax. For Mark, interpreting legislation and applying various strategies creates tangible differences in people’s lives. “The tax laws are complex and ever-changing and our knowledge has helped save clients thousands of tax dollars over the years. Even simple things like helping clients understand the tax deductions available and their TFSA contribution limits helps them to save.” 

#4 – Insure your future

There should be an emphasis on the importance of risk management. Carla Hunter, team Associate, confirms that protecting clients from risk at every stage of life is imperative, stating, “Oftentimes, people are unprepared, or underprepared, for the unexpected”. Having proper insurance in place for illness, disability, or the death of a loved one, helps ensure the financial security of individuals and their families.

#5 – Start Early

For Levi and Sam, they are finding that the younger demographic is also embracing the benefits of comprehensive financial planning at a young age. In addition, they can demonstrate that lower fees don’t necessarily mean higher returns: “when you combine comprehensive planning with competitive investment returns, clients can really appreciate the value being provided.”

#6 – Have a Plan

Keith believes the benefit of financial planning is a well-kept secret because, “We don’t take financial planning in school. We plan for everything else such as vacations, but we don’t have holistic plans for our finances. When people see it, the light bulb goes off and they say this makes total sense, why wasn’t I doing it sooner.” Associates Levi Demour-Iozzo and Sam Ivey also emphasized the importance of building a solid financial plan, sharing that their ultimate goal is to create peace of mind for the people they work with. 

#7 – Think about Your Legacy

The sense of security created by having a financial plan extends far beyond the client. Strategies can be put in place early to assist with the transfer of wealth and minimize tax consequences at death. Carol Ann Kroll, team Associate, described the benefits of legacy planning by stating that “having a full picture of your family’s financial well-being now, and projecting that out into the future, protects family wealth and aids in creating a legacy for future generations” - generations that this team is setup to work with, for decades to come.  

To learn more about the Donnelly Group and begin planning for your future, visit:

Investors Group Financial Services Inc.

This is a general source of information only. It is not intended to provide personalized tax, legal or investment advice, and is not intended as a solicitation to purchase securities. Donnelly Group Private Wealth Management is solely responsible for its content. For more information on this topic or any other financial matter, please contact an IG Wealth Management Consultant.