Since their introduction in 2009, the Tax-Free Savings Account (TFSA) has been a source of tax-savings but also confusion for many Canadians. Different from a Registered Retirement Savings Plan (RRSP) in that there's no tax refund when you put money in but a TFSA does allow you to hold a wide range of investments while sheltering their growth from taxes. On top of that...Read More
We help our clients clarify their goals and overcome their financial obstacles so they can build, protect, and enjoy their wealth.
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The decision to start Somerset Financial Management as an online-only firm was both easy and difficult at the same time. It was easy because online communications have evolved to the point where we can now build meaningful relationships with clients from across Canada, without having to jump on a plane or get in a car...Read More
Canadians need expert financial advice now more than ever. Unfortunately, most Canadians either don't have a financial advisor or have a financial advisor that only focusses on their investments. Adding insult to injury, Canadians also pay the highest average mutual fund fees in the world, pay up to 30% more for housing then they should, and have a debt to income ratio over 160%. Now more than ever Canadians need to find competent advisors who will focus on more than just investments. Canadians need advice on reducing their tax burden, increasing their income, and identifying achievable financial goals. How do you find a great advisor? Well, we think there are three key things that all great advisors have in common...Read More
I'm proud to announce that Somerset Financial Management is now open for business! We're a new online wealth advisory that can help you build, protect, and enjoy your wealth. We feel that Canadians, now more than ever, are paying too much for basic investment advice when what they really need is advice on how they can balance their budgets, reduce their debt, lower their risks, and protect their lifestyle...Read More