Building and protecting your tomorrowsNow and for many years to come
Richard has been helping individuals, families and businesses with their insurance and investment needs for 40 years. Richard graduated from McGill with a B.Sc. in 1969. In 1984, he earned the Chartered Life Underwriter designation.
Andrew is a licensed Financial Security Advisor and Mutual Fund Representative. In a prior career, Andrew was a Partner at a global accountancy firm. His specialty was in Forensic & Investigative Accounting.
Ginette is the Marketing Assistant for Bourne Financial Group. Ginette joined Richard Bourne in 1998, and has been working since then to assist individuals and families with their daily life insurance and investment administration.
We work with individuals, families and businesses to assist with the following financial security needs:
- Life Insurance
- Critical Illness Insurance
- Disability Income Insurance
- Long Term Care Insurance
- Investments & Wealth Management
- Group Insurance
Bourne Financial Group is an independent broker of financial security products. We work with various partners to ensure that we are offering the best products at the most competitive prices, and the specialized expertise from these partners to ensure that the products are meeting client needs.
Why should I work with a financial advisor?
- A financial advisor provides a framework and a process to follow in evaluating your current financial situation, your goals for the future, and options for how to best to achieve these goals within your budget
- A financial advisor continually reviews your ever-changing situation, and suggests adjustments to your portfolio to meet these needs
- A financial advisor can assist individuals and families in understanding and taking advantage of tax-deferral and tax-minimizing investment tools
- A financial advisor can provide access to various investment and wealth management products made available by multiple different investment companies and banks
- A financial advisor can assist individuals, families and companies in understanding the different risk management strategies and tools that can assist clients in sharing certain life risks with insurance companies
Who are Bourne Financial Group’s Typical Clients?
- Individuals/families with Life Insurance, Critical Illness, and Disability insurance needs
- Individuals/families requiring assistance with investments (RRSP, TFSAs, Segregated Funds, RRIFs, LIRAs, LIFs, GICs)
- Individuals/families nearing retirement, requiring assistance with RRIFs, Segregated Funds, Annuities
- Families saving for their children’s education (RESPs)
- Businesses requiring assistance with their Group Coverage
- Businesses requiring assistance with Life Insurance, Disability and Critical Illness Insurance (for example, Buy-sell insurance)
- Businesses requiring assistance with investments
What are some life events that may trigger the need for financial advice?
- You just had a child and would like to protect your income in the event of an income earner’s early death
- You just purchased a house and would like to ensure your family has the means to pay off the debt in the event of an income earner’s early death
- You are nearing retirement and would like to plan how best to fund your post retirement lifestyle
- You received an inheritance and would like to invest the money for your future
- You would like to invest in your children’s education, and would like to take advantage of any federal and/or provincial education grants
- You jut started a new job, and would like to invest a portion of your earnings for future financial needs
- You left a company’s group plan to form your own business, and would like to secure your income in the event of a disability
- You left your job and want to transfer your pension
How do I get started with investments?
- Develop a budget that is comfortable to set aside each month in savings
- Fill out an Investor Questionnaire that assists in determining risk profile, tolerance for volatility, investment term, and investment objectives. Here are some examples of considerations in determining the appropriate investments:
- Current Income
- Investment time horizon
- Expected use of funds (home purchase, retirement, children’s education?)
- Tolerance for volatility in financial markets
- Match up the investor profile with the appropriate type of investments (conservative funds, balanced funds, growth-oriented investments)
- Determine the appropriate tax deferral vehicles (if applicable) to invest within:
What are the Key Principles of Investing?
- Start today
- Starting at age 25 leads to exponentially larger returns than starting at age 45
- Reduce taxation/maximize grants
- “take advantage of tax-sheltered investment vehicles such as RRSPs, TFSAs and permanent insurance policies, and investments with grants provided by the federal and provincial governments such as RESPs and RDSPs”
- Understand Risk & Return
- Choose the investments that meet your investor profile and objectives, and understand the risks associated with investing
- Invest Systematically
- A periodic investment plan (weekly, monthly) will help minimize the risks associated with market volatility
- Create a diversified portfolio
- Diversify investments amongst asset classes, geography, and management styles
- Continually monitor your portfolio to ensure that it meets your objectives and risk profile