Client Success Stories

A look at how we help our clients at various stages throughout their life

(Note: These are hypothetical scenarios and do not involve any Align Wealth clients)

New Graduate
Name: Jennifer
Age: 28 years old
The Situation

Jennifer recently graduated from Life West and is excited to be back in Canada as an associate in a well-established practice. The principal doctor is at capacity and wants to reduce their time in the practice, so Jennifer is in a great position to build her practice.

While Jennifer enjoyed her time in the US earning her degree, she now has student loans that she wants to start paying down. She knows it's time to focus on her career and wants to get a good handle on her finances from the start.

Like many associates, Jennifer's income will vary from month to month. She wants to enjoy the present while also saving for short-term goals like a friend's destination wedding, but she also wants to avoid stressing out about loans, taxes, or unexpected expenses.

The Approach

Jennifer wants to work with a financial planner to help hold her accountable and improve her understanding of personal finance. She has never had anyone take the time to teach her how to manage her money, so she feels a little anxious when it comes to finances. However, she believes that with the right plan and systems in place, she can focus on her new career as a chiropractor without worrying about money.

Jennifer knows that the next few years could bring major financial decisions, such as buying a condo and potentially getting engaged. As her income grows and big life events occur, she wants someone to help guide and navigate the financial aspects of her life.

The Results

The financial plan that Jennifer received was exactly what she was looking for. It included:

• A system for managing her variable income, allowing her to pay herself a regular salary with quarterly bonuses and set aside appropriate tax reserves.

• A personalized cash flow plan that prevented overspending while still allowing Jennifer to live her life without feeling restricted.

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• Refinancing some of her high-interest debt and creating a plan for paying off her student loans.

• Automated saving contributions as part of the cash flow plan to build an emergency savings account and a down payment fund.

• Education on the basic principles and best practices of investing, leading to contributions to a low-cost index fund portfolio for her future.

• Assistance with getting a professional disability policy, with the first six months of premiums waived as a new graduate.

Thanks to this plan, Jennifer feels confident in the progress she is making towards her goals and net worth growth. Within three to four years, she will have made significant progress on her student loans and will have the funds to put a down payment on a condo.

Names: Ryan (Associate) & Callie (Ultrasound Technician)
Ages: 33 and 31
The Situation

Ryan has been an associate for six years and has built a successful practice. He would like to own his own practice someday, but right now his focus is on his wife Callie, who is pregnant with their first child.

Ryan and Callie have been married for a few years and have enjoyed a lifestyle of regularly going skiing on the weekends. However, they are now ready to focus on starting a family.

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Currently, both Ryan and Callie have steady incomes, but in six months, Callie will go on maternity leave for a year. They want to optimize their finances and have a plan in place for transitioning to one income and using maternity benefits.

Ideally, Callie would like to return to work on a part-time basis after her maternity leave ends. They think they can make this work financially, but they want to ensure they can save for retirement, their children's education, and still take some trips.

In the past, Ryan and Callie have worked with a financial advisor, but they never felt like they had a true plan in place. They felt that their advisor only contacted them to sell them more products.

The Approach

Ryan and Callie weren't sure where to start when they found out Callie was pregnant. They were referred to Align Wealth by another chiropractor and liked the idea of working with someone who has experience helping people in similar situations.

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They knew that once their first child arrived, it would take extra effort to balance parenting, Ryan's career, and financial decisions. They found the prospect overwhelming, but were glad to have time to meet with their planner before the baby arrived.

They wanted to be involved and appreciated the collaborative, educational approach of what we call "real financial planning." This involves getting a deep understanding of your values and goals and aligning them with your capital, including not just money but also time, energy, and attention.

The Results

Ryan and Callie put a financial plan in place that helped them in several ways:

• Transitioning Ryan from a sole proprietorship to a professional corporation, which provided tax planning opportunities and greater flexibility.

• Implementing a cash flow system in Ryan's new professional corporation, allowing him to pay himself a regular monthly income with quarterly bonuses.

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• Creating a cash flow strategy that gives every dollar a purpose, allowing them to build up cash reserves for when the baby arrives and transition to just Ryan's income and maternity benefits.

• Using Ryan's quarterly bonuses to fund a down payment account, with the goal of moving into a bigger home in two to three years with the help of their current home equity.

• Transitioning their RRSP and TFSA investment accounts from high-fee mutual funds to a low-cost index fund portfolio better suited to match their long-term goals and risk tolerance.

• Increasing their life insurance with affordable term coverage, given the arrival of a child.

• Connecting with an estate lawyer to help them create a will and other estate planning documents.

Ryan and Callie feel good knowing that they have organized their finances and have a clear plan in place for when the baby arrives. They appreciate the simplicity of the systems they now have in place for managing cash flow in Ryan's practice and their personal finances. They are excited for their future and look forward to our seasonal review meetings throughout the year.

Names: Erin (Practice Owner) & Curtis (High School Teacher)
Ages: 42 and 44
The Situation

Erin has been running her own practice for six years and has put in a lot of effort to build a successful business. She is married to Curtis, a high school teacher, and they have two daughters, ages nine and twelve.

Lately, Erin and Curtis have been struggling to balance the demands of their business and family life. Erin would like to have more time off in the summer, but she finds it difficult to be away from her practice for long periods of time.

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Five years ago, Erin and Curtis purchased a piece of land in British Columbia with the dream of building a vacation property on it. They hoped to be able to use it in the summer and rent it out on platforms like Airbnb to generate extra income. However, the pandemic and other life and financial circumstances have delayed their plans.

Erin and Curtis contacted me because they want to get organized and recognize that having no direction or plan has been causing frustration. They have worked hard and are at a prime point in their careers. They hope that by focusing on their finances, they can achieve the freedom they desire.

The Approach

Erin has chosen chiropractic as her career path and loves it. Her goal is to spend more time with her family in the summer and do so at their dream vacation property in British Columbia. She knows that her practice is the vehicle to help her and her husband achieve their goals.

Over the early months of our planning relationship, we spent a lot of time analyzing the financials of Erin's practice. We identified several opportunities and applied a system that was going to increase the profitability of her practice.

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Erin and Curtis were excited about the process of addressing their financial life one area at a time. They were surprised at how many aspects of their finances had long needed attention and welcomed the new perspective of an outside party.

The Results

Erin and Curtis feel like they have a renewed relationship with their money and are moving in a positive direction. Some highlights of the financial planning work include:

• By implementing a cash flow management system to Erin's practice, we were able to increase her monthly income by nearly 15%. This gives her the financial cushion to take more time away from the practice in the summer.

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• A personalized cash flow plan has been put in place that focuses on growing their savings and investing. Through a combination of Erin's quarterly profit cheques and their monthly incomes, they are likely to be in a strong position to make a down payment on their vacation home build in 18 months.

• Consolidated their RRSP and TFSA investment accounts from two different financial institutions into an index fund portfolio. Additionally, they feel great about reducing their investment fees by more than $5k a year.

• Opened RESP (Education Savings) accounts for their two daughters and plan to make the maximum annual contributions to get the full government grant.

• We have done early projections of what their retirement might look like, including the possibility of selling Erin's practice in the future and the impact of Curtis's teacher's pension plan.

• Erin had her business take out a critical illness policy on herself after seeing a peer go through the recovery process after being diagnosed with breast cancer and experiencing some financial stress as a result.

Like physical health, great financial health requires a plan and goals to follow

I know how stressful it is to feel like you’re flying blind with your finances. I understand how discouraging it is to be earning a good income but still feel out of control.

I’m Scott Campbell and I’m a Certified Financial Planner that does things differently. First, I specialize in helping chiropractors. Second, I dive deeper than the traditional investment advisor. I get into the on-the- ground realities of debt reduction, managing cash flow, and building habits that lead to the life you want.

I do for your finances what a personal trainer does for your body — I push you to take an honest look at your money, define what you want, and then implement a plan to get healthy. The end result is you feeling free, confident, and in control.

some kind words

Featured Client
Success Story

"Scott has turned once a stressful and overwhelming topic in our household into a series of simple steps to get us on track and make our finances start working for us"

"Scott took me through a clear process and designed a plan that aligned with my personal goals and values. He genuinely gets to know you as a person and will help bring clarity to your finances"

"Over the last year I’ve not only been more profitable, but I have attained a feeling of security and certainty that the processes we’ve implemented will help me and my business long into the future"

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