Imagine two sets of travellers going to the same destination – one uses GPS while the other leaves the trip to chance.
The former gets there on time while taking in every site and attraction along the way. The latter, however, misses all of those perks and eventually gets lost.
This same scenario applies to those who rely solely on advice from a bank teller or financial news, rather than choosing comprehensive, holistic financial planning services.
Enter MGM Financial Group's “GPS For Life” strategy.
“We can’t map out a destination unless we know where we're going because an investment strategy alone is not going to tell us that,” says MGM founder Mike Mollica. “We are going to adjust course as we go through the different stages of life with our clients. Our GPS approach allows us to position ourselves accordingly along the way.”
A Burnaby institution for 15 years, MGM helps businesses, families and professionals chart that course across every conceivable service: financial planning; wealth and investment management; tax and succession planning; insurance; real estate and so much more.
Mollica’s team brings more than a century’s worth of institutional knowledge and employs an approach that’s focused on financial planning, considering all its aspects from a 10,000 foot view.
“We try to find the greater purpose behind why you’re doing what you’re doing,” Mollica explains. “Once we’ve determined the numbers and the math, it’s about determining what is the purpose behind what we’re trying to achieve.”
Take a new retiree, for example, whose days were evenly split across eight hours of rest, eight hours of work and eight hours of recreation. Once that person retires, they suddenly have 16 hours for recreation and personal pursuits. MGM Financial helps facilitate a financial plan that maximizes this newfound freedom, whether that’s for more time with kids and grandkids, travel or exploring other opportunities the golden years have to offer. This is achieved through thoughtful analysis of income streams, estate and tax planning or establishing timelines to downsize.
In the context of a young couple just starting their financial journey, the focus shifts to getting organized: managing their finances, creating a roadmap for a home purchase, planning family vacations or examining different insurance options.
“It’s about getting started and the plan there is to lay out a foundation for the things in life moving forward,” Mollica says.
The demographic in between retirees and those just starting out – referred to as the sandwich generation – has an entirely different set of circumstances to consider. Mollica’s team can assist with post-secondary savings, retirement plans or assisting elderly family members.
Mollica’s two-plus decades in the financial sector has seen him sit on multiple national boards and trade associations, giving him well rounded diverse experience in various sectors, working with many groups and demographics.
“We are that ultimate financial resource for people to call on us if they need help,” Mollica says. “And if it’s not something we do, then we can find someone who can.”
For more information, visit www.mgmfinancial.com
